By: Chris Mullen, Gold Seeker Report - 20 October, 2017
Gold drifted lower throughout most of world trade and ended near its early afternoon New York low of $1278.00 with a loss of 0.62%. Silver slipped to as low as $16.946 and ended with a loss of 1.16%. Full Story
Ten years ago last week the U.S. stock market hit a peak before crashing during the financial crisis. That now seems a like a distant memory but with stocks making new record highs every day recently, it is prudent to step back and evaluate the long term performance of assets and indeed the outlook in the coming years. Full Story
By: Chris Mullen, Gold Seeker Report - 19 October, 2017
Gold fell $4.10 to $1276.80 in Asia, but it then climbed to as high as $1290.00 in late morning New York trade and ended with a gain of 0.55%. Silver rose to as high as $17.258 and ended with a gain of 1.35%. Full Story
– Gold and silver’s historical role in conflict shaped the world today and the modern financial system – Gold played an important function in the great conflicts up to and throughout the 20th century – Gold and the effective use of bullion played a crucial role in the outcome of the American Civil War – Gold was an important economic agent in both World Wars, conferring a huge advantage on the allies – In a world beset with risks of war both in the Middle East and with North Korea, Russia and China … gold will protect Full Story
By: Chris Mullen, Gold Seeker Report - 18 October, 2017
Gold fell $8.60 to $1277.00 at about 8:15AM EST, but it then chopped back higher in New York and ended with a loss of just 0.37%. Silver slipped to as low as $16.901 and ended with a loss of 0.23%. Full Story
With a per-ounce price of $17.41 for silver futures as of Friday, analysts say the white metal is poised for a big climb, particularly as the gold-to-silver ratio stands well above historical averages. “Silver is definitely undervalued compared to gold and as a stand-alone investment. I consider it likely to be the most undervalued asset in the general investment markets,” says Paul Mladjenovic, author of Precious Metals Investing For Dummies. Full Story
The next wave of sell off will be when gold and silver fall below yesterday’s low. I am happy with the performance of copper and nickel yesterday. Zinc and lead just had a correction and are not in a short term bearish phase. The pace of rise of zinc and lead was way ahead of fundamentals. Hence the correction. A once-in-five-year Communist Party gathering starts today and will be closely watched. The focus will be on the team president Xi picks. Full Story
By: Chris Mullen, Gold Seeker Report - 17 October, 2017
Gold fell $12.70 to $1281.80 in late morning New York trade before it bounced back higher in the next few hours, but it still ended with a loss of 0.69%. Silver slipped to as low as $16.969 and ended with a loss of 1.05%. Full Story
– Brexit UK vulnerable as gold bar exports distort UK trade figures – Britain’s gold exports worth more than any other physical export – Gold accounted for more than one in ten pounds of UK exports in July 2017 – UK’s stock of wealth has collapsed from a surplus of £469bn to a net deficit of £22bn – ONS error Full Story
The inability of gold and silver to trade over $1311 and $1750 is not a very positive sign in the short term. If by Friday gold and silver are unable to break and trade over $1311 and $1750 on a daily closing basis, then short sellers could dictate prices. Incoming US economic data releases suggest a firm and sustained US economy at least till the first quarter of next year. Full Story
By: Chris Mullen, Gold Seeker Report - 16 October, 2017
Gold gained $2.40 to $1306 in early New York trade, but it then fell back off into the close and ended near its late session low of $1291.80 with a loss of 0.7%. Silver slipped to as low as $17.137 and ended with a loss of 0.98%. Full Story
– Puerto Rico without electricity, wifi, ATMs shows importance of cash, gold and silver – Most of Puerto Rico remains in the dark and without power three weeks after storm – With widespread power failures, Puerto Rico remains cash only with retailers only accepting cash and few consumer having cash – Shortages of food, fuel and medicine with infrastructure repairs delayed Full Story
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