By: Chris Mullen, Gold-Seeker.com - 19 September, 2014
Gold dropped $11 to $1213.90 by a little before 2PM EST before it bounced back higher in the last couple of hours of trade, but it still ended with a loss of 0.6%. Silver slipped to as low as $17.795 and ended with a loss of 3.3%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 September, 2014
The gold price closed at $1,224.9 up $3.30 Thursday in New York. In Asia and London, gold prices slipped slightly to $1,223. The gold price was Fixed at $1,222.50 down $0.50 and in the euro at €949.220 down €0.389, while the euro was the same at $1.2879. Ahead of New York’s opening, gold was trading at $1,222.50 and in the euro at €951.44. Full Story
Silver, platinum and palladium were all headed for a weekly decline in prices. Platinum is currently trading at $1,347, and is 0.27% lower from yesterday and down 1.24% on the week. The palladium price was marginally lower in London trading today at $827, down 0.36% from yesterday and is 0.24% lower on the week. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 September, 2014
Gold edged up to $1225.52 in late Asian trade before it fell back to $1216.23 by a little after 8AM EST, but it then climbed back higher in New York and ended with a gain of 0.27%. Silver rose to as high as $18.604 and ended with a gain of 0.11%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 September, 2014
The gold price closed at $1,221.60 down $13.90 on Wednesday in New York. In Asia and London, gold prices recovered slightly to $1,224. The gold price was Fixed at $1,223.00 down $13.50 and in the euro at €949.609 down €4.628, while the euro was slightly much weaker at $1.2879. Ahead of New York’s opening, gold was trading at $1,223.80 and in the euro at €950.19. Full Story
The overall trend in the silver market currently appears to be, when prices weaken, investors continue to hold and in some cases buy more. While the price has fallen, overall holdings of the silver ETFs still remain near an all-time high. This would suggest that silver investors are now expecting higher prices again due to continued industrial and investment silver demand. Full Story
FOMC meet has indicated that whenever interest rates start to rise it will be at a much faster pace than markets expect. There has been no change in the language. Traders are expecting Fed funds rates to rise to 1.3750 by end 2015. Over the past two years there can been an inverse relation between gold prices and US dollar-Japanese yen (usd/jpy). Usd/Jpy is now trading at 108.57. In case Usd/jpy trades over 110 for a few weeks, gold will see another wave of selling to $1045 and $987. The direction of Usd/jpy will be the key for gold prices apart from Asian demand fundamentals. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 September, 2014
Gold edged up to $1238.99 in Asia before it fell back to $1230.34 after the release of today’s fed statement and then bounced back higher, but it then fell back off again into the close and ended with a loss of 1.13%. Silver slipped to as low as $18.49 and ended with a loss of 1.18%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 September, 2014
The gold price closed at $1,235.50 up $1.60 on Tuesday in New York. In Asia and London, gold prices recovered slightly to $1,235.80. The gold price was Fixed at $1,236.50 down $2.25 and in the euro at €954.237 down €2.696, while the euro was slightly stronger at $1.2958. Ahead of New York’s opening, gold was trading at $1,237.80 and in the euro at €954.83. Full Story
Nick Laird of Sharelynx has just reproduced his fascinating and timely chart showing the US debt limit, the actual US debt and the gold price all in one chart. From 2000 until around the first quarter of 2013, there was a very strong and close correlation between the growth of the US national debt and the rise in the US dollar gold price. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 September, 2014
Gold climbed $8.01 to $1241.91 in London before it dropped back to $1232.14 at about 10AM EST, but it then bounced back higher in late morning trade and ended with a gain of 0.13%. Silver rose to $18.848 in London before it fell back to $18.616, but it still ended with a gain of 0.16%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 September, 2014
The gold price closed at $1,233.90 up $3.20 on Monday in New York. In Asia and London, gold prices recovered slightly to $1,235.80. The gold price was Fixed at $1,238.75 up $4.00 and in the euro at €956.933 up €1.318 while the euro was slightly stronger at $1.2945. Ahead of New York’s opening, gold was trading at $1,238.60 and in the euro at €956.74. Full Story
Trade statistics for the month of August have just been released in India, showing a huge surge in gold imports compared to August of 2013. The value of gold officially imported into India in August totalled $2.04 billion, which was nearly three times more than the August 2013 figure of $739 million. Full Story
The Federal Reserve meeting is keeping people on the sidelines. Emerging markets and commodities will be affected in a big way if the forward guidance indicates an interest rates hike of over one percent in the next twelve months. Energy prices are low. Inflation in the US and globally will fall. The Federal Reserve will not be aggressive in raising interest rates due to low energy price inflation. Full Story
By: Chris Mullen, Gold-Seeker.com - 15 September, 2014
Gold climbed up to $1238.25 by a little before 8AM EST before it drifted back lower in early New York trade, but it still ended with a gain of 0.26%. Silver rose to as high as $18.70 and ended with a gain of 0.16%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 September, 2014
The gold price closed at $1,230.70 down $19.30 on Friday in New York. In Asia and London, gold prices recovered slightly to $1,234.40. The gold price was Fixed at $1,234.75 down $12.25 and in the euro at €955.615 down €8.585 while the euro was weaker at $1.2921. Ahead of New York’s opening, gold was trading at $1,235.40 and in the euro at €955.90. Full Story
Faber doesn’t see further new highs this year in the US equity markets, and thinks that there could be an S&P correction of between 10% and 30%. While admittedly Faber has been expecting a US stock market correction for some time now, his view is based on what he sees as weaker earnings from some US consumer bellwether companies. Full Story
The Federal Reserve meeting will be the key this week. Anything is possible not just for commodities but for the US dollar and global equity markets. The sentiment is hyper bearish for gold and silver. There are too many short positions in gold and silver at the moment. There can be a rise of $50-$60 anytime in gold while maintaining the bearish trend intact. Silver needs to trade over $17.70 for the rest of the year to prevent a long term technical breakdown. Full Story
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