Gold gained $7.00 to $1255.90 by a little after 9AM EST before it chopped back towards $1250 into midday, but it then rose to a new session high of $1256.40 in afternoon trade and ended with a gain of 0.49%. Silver climbed to as high as $16.876 and ended with a gain of 1.38%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 May, 2017
When we look back at the actions of Modi and his government in India and on gold, since he came to power, we see that Indian governments are still unhappy with gold in the country and will always be. This is not a small problem for that government, when you consider that the total gold holdings of the world’s central banks is around 34,000 tonnes, private citizens and institutions in India hold around 24,000 tonnes, an amount that is rising by around 1,000 tonnes a year. Full Story
In a warehouse a dozen miles to the northwest of Cardiff, the Royal Mint is running its machines through the night to keep up with demand for one of the big beneficiaries of the last year’s political turmoil – gold and silver bullion. The 1,100-year-old Mint, based here since the 1960s, is producing 50 percent more gold bullion coins and bars than it was this time last year, director of bullion Chris Howard says, while its sales in January rose by a third. Full Story
Gold gained $6.10 $1264.80 in London, but it then drifted back lower in New York and ended near its late session low of $1246.60 with a loss of 0.78%. Silver slipped to as low as $16.442 and ended with a loss of 1.66%. Full Story
The Moss Mine, near Bullhead City, is fully permitted and ready to begin operating with more than 100 people this fall, said Joe Bardswich, Golden Vertex general manager and Northern Vertex director. Northern Vertex Corporation is the parent company of Golden Vertex, Moss Mine’s owner. Both gold and silver will be extracted from the mine. Bardswich said those 100-plus people will be working at the mine within a month, in preparation for full operations. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 May, 2017
On the evidence above, New York hit gold’s peak price in the day, first, then Shanghai rose to meet it and London opened at the same level. In an extraordinary picture ALL THREE GLOBAL GOLD MARKETS ARE AT THE SAME PRICE. This is the first time we have ever seen this happen. While we used the dollar as the measuring currency, we note that the gold price is the same in all markets, so currencies, today are not the influence. Full Story
Before putting your savings into the likes of SnapInc we think there are some major lessons wannabe investors need to learn. Lessons not just from experienced tech investors but also from gold investment. Lessons which should lead one to consider investing in physical, allocated, segregated gold to secure your portfolio in a world of massive financial bubbles, significant geopolitical uncertainty and huge investment hype. Full Story
Gold jumped $23.70 to $1260.20 in late morning New York trade before it edged back lower into midday, but it then popped up to a new session high of $1261.10 in the last minutes of trade and ended with a gain of 1.8%. Silver rose to as high as $17.031 and ended with a gain of 0.42%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 May, 2017
We have to see just how far this is a war between the media and Trump and just how far it is a real crisis. If it is Trump, the dollar will recover once his crisis is resolved, whenever that is. If it is the dollar itself, gold will benefit over a much longer period as the dollar faces a more fundamental crisis. This fundamental crisis can always be linked to the rise of the Yuan or the falling oil prices or more fundamental crises. If the current weakness of the dollar is due to a structural change in the dollar’s global role weakening [dollar hegemony giving way?], then the changes we have expected for a very long time in the currency and monetary worlds has begun! Full Story
Gold prices rose for a fifth day to a two week high in early European trading on increasing U.S. political risk pertaining to the Trump Presidency and the increasing risk of impeachment and a U.S. political civil war. Stocks and U.S. Treasury bond yields tumbled as investors moved cash into safe-haven gold amid a global market selloff. Full Story
By: Chintan Karnani, Insignia Consultants - 17 May, 2017
There is no news. The next three days will be very crucial for gold, silver, crude oil and the Japanese Yen. If they are able to rise then I expect $1296, $18.76 and $52.20 in gold, silver and crude oil in the short term. Caution optimism along with a lookout for trend reversal is the need of the hour for day traders, jobbers and short term investors. Full Story
Gold climbed to as high as $1239.00 in midafternoon New York trade before it dipped back lower into the close, but it still ended with a gain of 0.46%. Silver rose to as high as $16.85 and ended with a gain of 1.14%. Full Story
Last year, Buffett told CNBC — cyber, nuclear, biological and chemical attacks — posed a major threat to the economic well-being of Berkshire shareholders. Echoing Buffett’s cyber concerns, today one of the world’s leading experts on currency wars, financial warfare, cyber terrorism and cyber war, James Rickards has again warned that cyber attacks may have already compromised the U.S. national security and could turn a “bad day on Wall Street into a full blown crash”. Full Story
By: Chintan Karnani, Insignia Consultants - 16 May, 2017
Traders can focus on Trump. US President Donald Trump’s top foreign policy advisers raced to contain political damage from a report saying he revealed sensitive classified information to Russia’s top diplomat during an Oval Office meeting last week. Trump problems will be good news for gold bulls. Buyers and investors of gold are not there on the hope of more price falls. If gold shows some short term strength then laggards will start investing in gold. Full Story
We are not mining experts, but we will address (2) by saying that mining shares only go up if the input costs don’t go up as much as the price of gold. And if the company keeps efficiency up, and costs down. And if local tax authorities don’t get greedy. And if mine labor unions don’t get violent, environmental regulators don’t make expensive demands, etc. And if the company finds new ore bodies at the same rate it depletes them. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 May, 2017
The Technical picture is positive today so the gold price should rise steadily today, barring new news that halts its rise. But the main influence on today’s prices comes from Shanghai. While the discount of New York and London have been widening of late it is the lifting of today’s prices in Shanghai that has caused prices in London and New York to suddenly rise. We expect the upward pressure from Asia to continue as the dollar weakness drops prices in India. Full Story
– Cyberattacks expected to spread today in “second phase” – UK intelligence says scale of threat significant – Microsoft slams NSA for letting hacking tools cause global malware epidemic – Ransomware attack already crippled more than 200,000 computers in 150 countries – 1.3 million computer systems believed to be at risk – Europol warns many computer systems simply won’t start Full Story
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