By: Chris Mullen, Gold Seeker Report - 19 January, 2018
Gold gained $11.60 to $1337.90 in late Asian trade before it drifted back lower in London and New York, but it still ended with a gain of 0.44%. Silver rose to as high as $17.124 and ended with a gain of 0.47%. Full Story
Today's video looks at the recent price action in gold and miners with a detailed analysis of the trading difficulties confronting one's human nature. Full Story
Gold bullion tends to rise January and February before Chinese New Year (see table) Gold is nearly 8% and $100 higher since Fed raised rates one month ago Options traders are bullish and suggest gold has room to run (see chart) Nervous in short term, positive in medium term – gold at $1,500 in 2018 Full Story
By: Chris Mullen, Gold Seeker Report - 18 January, 2018
Gold fell $4.80 to $1324.20 in Asia before it chopped up to $1333.00 in late morning New York trade, but it then drifted back lower into the close and ended with a loss of 0.2%. Silver slipped to as low as $16.908 and ended with a loss of 0.47%. Full Story
– Latest bitcoin, crypto crash causes gold coin and bar demand to surge – Bitcoin down 40% from high, Ripple down 50% and Ethereum down 30% – Ripple and ‘Digital gold’ Bitcoin fall past key psychological price levels – $300bn wiped from cryptocurrency fortunes in just 36 hours – New research says that there is ‘Price Manipulation in the Bitcoin Ecosystem’ Full Story
The Federal Reserve’s beige book stressed on the sustained strength of the US economy. This implies quicker interest rate hikes. Gold fell as a result. To me the correction in gold and silver is a part of the impeding sharp rally. However if gold and silver fall today, then chances of $1292 and $1673 and below will be very high. Short term buyers will turn into sellers. It’s a big day for gold and silver from a technical perspective. Full Story
By: Chris Mullen, Gold Seeker Report - 17 January, 2018
Gold chopped between $1343.90 and $1332.90 in Asia and bounced back to $1338.90 in London before it fell to a new session low of $1332.00 in late morning New York trade and then jumped back to as high as $1340.50 in early afternoon trade, but it then dropped to a new session low of $1327.00 in late trade and ended with a loss of 0.77%. Silver slipped to as low as $16.992 and ended with a loss of 1.1%. Full Story
– Gold is the “ultimate and only real money” – Former Reagan White House Budget Director David Stockman – Trump tax cuts will lead to a ‘fiscal calamity of biblical proportions’ – China downgrades U.S. over political ‘deficiencies’ – Expect a ‘huge reset in the bond market’ and a ‘massive drop in household wealth’ – ‘People will flee the stock and bond markets in favour of gold and silver – Time to buy (gold and silver bullion) is ideal – “Only safe asset left is gold” Full Story
The current decline in the US dollar is just a part of the long term US dollar decline story. Germany has decided to include the Chinese Yuan in its basket of foreign exchange reserves. Other nations will follow soon. Migrants have made Eurozone’s economic fundamentals very strong. Migrants will ensure that the Eurozone continues its strong economic growth over the next few years. Nations will be forced to reduce investment in US treasuries and also reduce the US dollar portion of foreign exchange reserves. Gold will get the benefit of global political churning. Full Story
By: Chris Mullen, Gold Seeker Report - 16 January, 2018
Gold saw modest gains in holiday thinned trade yesterday before it fell back to $1331.80 in London today, but it then jumped back higher in afternoon New York trade and ended with a gain of 0.1%. Silver slipped to as low as $16.791 and ended with a loss of just 0.17%. Full Story
– JP Morgan continues to accumulate the biggest stockpile of physical silver in history – “JPM now holds more than 133m oz -more than was held by the Hunt Bros” – Butler – Silver hoard owned by JPM has increased from Zero ozs in 2011 to 120m ozs today – Money managers showing more optimism towards silver through record buying – “Near impossible to rule out an upside price surprise at any moment” Full Story
Look for signs of profit taking in gold and silver as US markets reopen. Any further rise in gold and silver will be dependent on the ability or inability to break past key resistances of $1358 and $1754. Over the past two years gold has not been able to break $1380. It will not be easy to break $1380 on fears of sharp correction. However in case gold breaks and trades over $1380 anytime before 31st March, then chances of $1522.80 and $1649.50 will be very high. Direction of global bond yields and direction of energy prices will be the key mover for gold prices till June. Full Story
– London homeowners cut property prices by another 1.4% in January – Average price for a London house dropped by £22,000 to £600,926 in 2017 – Takes 78 days to sell a home on average, the highest level since 2012 – London’s downtrend continues after 2017 performance as worst UK housing market – UK regional house prices begin to falter as house prices climb slows down – Gold bullion remains a great hedge for property investors Full Story
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