By: Chris Mullen, Gold-Seeker.com - 19 February, 2016
Gold dropped down to $1220.43 at about 5AM EST before it bounced back to $1234.46 in the next couple of hours of trade, but it then chopped back lower into the close and ended with a loss of 0.61%. Silver slipped to as low as $15.268 and ended with a loss of 0.84%. Full Story
And this year the gold miners are projecting similar all-in sustaining costs even as gold mean reverts much higher out of last year’s unsustainable extremes. That portends exploding profits as gold’s gains are leveraged. This is exceedingly bullish fundamentally for the battered gold stocks, which still need to multiply from today’s levels merely to reflect today’s gold prices. There are great fortunes still to be won. Full Story
It occurs to me that in public writing I tend to bludgeon people with macro fundamentals (like gold vs. positively correlated markets, yield relationships and even confidence in global policy makers), market indicators (VIX, Equity Put/Call, Gold-Silver ratio, Sentiment, Participation, etc.) and other views beneath the surface of things. So much so that I sometimes forget that people might like to see simple nominal charting as a frame of reference. Full Story
“Leave a million dollars with a bank, and in a year, you get only something like $990,000 back,” Marc Faber, respected publisher of the Gloom, Boom and Doom Report, told Bloomberg by phone yesterday.
“I would rather want to own some solid currency, in other words … gold” warned Faber. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 19 February, 2016
Volatility comes most strongly when liquidity levels are low. The 3%+ moves of the gold price both ways in the gold market on COMEX, in the last few days in particular, are clear indications of this. To us this is also a sign that New York’s pricing power is falling. London, where liquidity id higher sees prices move in smaller ranges and it continues to pull prices back or up because of this. But with the large amounts leaving London for Switzerland [for refining into metric measurements] and directly to Asia liquidity is slowly but surely being reduced there too. Full Story
Gold managed to break the shackles and rise in a US session. Over the years whenever gold prices have risen in a US session they have been sustained. Now gold looks headed for $1314. A daily close over $1210 today will be bullish for next week. Physical demand for gold in Asia will rise this week. Discounts on gold will start to vanish as gold prices are showing signs of a sustained rise. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 February, 2016
Gold held near unchanged in Asia before it dipped $6.90 to $1201.30 in London, but it then marched steadily higher throughout most of trade in New York and ended near its late session high of $1239.68 with a gain of 2.37%. Silver rose to as high as $15.543 and ended with a gain of 1.44%. Full Story
Gold is holding solidly above $1,200, brushing off news of the freshly released Fed minutes. Iranians cautiously welcome the Saudi-Russian oil production pact, while stating that they support cooperation to achieve higher oil prices, they also have domestic pressure to ramp up export of supply and cash in after years of being locked out of the market. This may possibly weigh down future oil price rises. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 18 February, 2016
The gold price is holding over $1,200 settling and building a bottom there. This is reassuring bulls and worrying bears. We take note of the fact that U.S. investors have turned bullish on the physical side and we take further note that U.S. investors are not in a position to drive the gold price down with large physical sales. The ongoing weighty exports from London to Switzerland and to the Far East add to the draining of liquidity from the gold market in favor of Asia. Likewise, China’s demand at 215 tonnes of gold in December 2015 confirms just how great that demand is! Full Story
By: Chris Mullen, Gold-Seeker.com - 17 February, 2016
Gold erased early Asian gains in London before it rallied to a new session high of $1213.40 by midday in New York and then chopped back lower into the close, but it still ended with a gain of 0.72%. Silver climbed to as high as $15.374 and ended with a gain of 0.33%. Full Story
One of the most critical lines to watch is the 12-month moving average for stocks. Historically this line has served well as a proxy for determining if stocks were in a bull or bear market. When stocks rallied above this line, they were in a bull market. When they fell below this line, they were in a bear market. Full Story
Global economic turmoil continues to rumble on as major economies seek to come to grips with a changing monetary environment, sagging growth, low inflation, pockets of deflation and uncertainty over the future of Europe post Brexit. Japanese shares sold off after their gains on Monday, falling 1.8% in today’s trading sessions. European shares rising 1.6% this morning on the back of an expectation that volatility in the markets may begin to stabilise, feels more like a dead cat bounce to be honest. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 17 February, 2016
China too appears to be waiting for the gold price to settle down, although while they could during the Lunar New Year holiday they piled into the shops to buy gold. Chinese demand remains robust. We also expect the post holiday fall-off in demand to be slight with lower prices and ongoing enrichment of the middle classes. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 February, 2016
Gold dropped throughout world trade yesterday and fell to as low as $1190.87 in Asia today before it bounced back to $1216.85 in London, but it then chopped back lower again in New York and ended with a loss of 3.13%. Silver slipped to as low as $15.138 and ended with a loss of 3.18%. Full Story
Do not panic, seriously. It is unlikely that we will face a banking collapse in the near future as we hope in time that cooler heads will come to bare. It is prudent to have some insurance in place should the unthinkable happen. A casual review of history, especially European history, will demonstrate just how boneheaded officialdom can be sometimes. Full Story
Trades need to keep an open mind right now. This can go either way depending on what happens in the stock market. Gold could have another big leg up if stocks roll over and finish the 7 YCL, or gold could enter a volatile trading range if the powers that be have succeeded in halting the 7 YCL again. Full Story
Volatility, loss of confidence and central bank impotence stalk the capital markets. Gold pulls back in an expected retrenchment. Equity markets are still digesting what the world looks like: absence of a strong Chinese domestic economy, developing economies losing their easy credit, oil prices adjusting to demand levels indicative of economic activity and, most tragically, the continuing proxy wars fought in the middle east as warmongers continue to slaughter innocent civilians. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 15 February, 2016
China has re-opened and New York is closed today. When the Chinese went on holiday at the end of the week before last the gold price was fixed in London’s pm at $1,150.35. Now they return to hear that gold actually hit $1,250+, $100 higher than when they left on holiday. On top of that, they were ready for a weaker Yuan, but return to find a huge trade surplus and a Yuan stronger by 1%. But the Chinese middle classes don’t move gold for such a small reason. It is more likely that while there will be a ‘shunt-effect’ in gold prices, gold investors there, need to get back in gear before their opinion on prices feeds through. Full Story
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