Gold edged up to $1259.85 by a little after 9AM EST before it dropped back to $1249.05 in the next few hours of trade, but it then bounced back higher into the close and ended with a loss of just 0.16%. Silver climbed to $16.647 before it fell back to $16.418, but it then rallied back higher into the close and ended with a gain of 0.18%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 May, 2016
With such small moves overnight all global gold markets recorded prices moving only slightly. No conclusions can be drawn from their moves against each other, right now. The gold price reacted to the stronger dollar while the Chinese Yuan stabilized at slightly higher levels against the dollar. What we find of note is that in the Fed minutes concerned was expressed, “because of unanticipated developments associated with China’s management of its exchange rate.” No such concern was expressed by the moves of the euro or the Yen. Why? Full Story
Gold fell $12.43 to $1244.87 at about 9AM EST before it rallied back higher for most of the rest of trade, but it still ended with a loss of 0.21%. Silver slipped to as low as $16.332 and ended with a loss of 2.14%. Full Story
A banking union in the EU is wonderful in concept but in practice is fraught with difficulties and risk. The use of bail-ins and the confiscation of deposits while protecting some tax payers in the short term, will likely destroy consumer and business confidence in the already fragile Eurozone economies and severely impact on the tax take in EU economies in the aftermath of the bail-ins and ensuing recessions or depressions. Full Story
Gold dropped $11.36 to $1267.64 at about 9AM EST before it bounced back higher into midday, but it then fell back off again after the release of FOMC Minutes from the fed’s April meeting and the yellow metal closed with a loss of 1.7%. Silver slipped to as low as $16.78 and ended with a loss of 2.26%. Full Story
“We continue to deliver on our mission of building out a payments and savings infrastructure utilizing instantly settleable and programmable gold,” said Roy Sebag, GoldMoney CEO. “Our newest application allows anyone in the world to be paid in gold by their employer, facilitates frictionless-bulk micro payments to anyone in the world, and allows gold and other commodity focused companies to pay back their shareholders in gold as a return of capital or dividend. What we’re most excited about, however, is that it democratizes access to gold not only for those that part with capital, but also those that part with their labour and time.” Full Story
By: Julian D. W. Phillips, Gold Forecaster - 18 May, 2016
Today saw a very heavy imposition of duties on steel imports to the U.S.A. It’s a game changer! Take a look at the ‘currency wars’ that have taken place over the last couple of years. Why is this important to gold and silver? Because it directly affects currencies and their exchangeability! Protectionism is divisive. Such division favors gold and silver. In turn, this eventually, will affect global currency liquidity. This brings back the importance of gold as a global trade facilitator. Full Story
Buy gold and silver coins and bars for delivery and storage has advocated a leading Irish financial adviser. Eddie Hobbs has given advice to clients and the wider public and says that they should buy silver and gold bullion in order to protect from the coming global financial crisis. Full Story
Gold saw decent gains in Asia before it fell back to $1271.13 in London, but it then climbed to as high as $1282.02 in New York and ended with a gain of 0.36%. Silver rose to as high as $17.334 and ended with a gain of 0.53%. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 17 May, 2016
Yesterday and today saw global gold markets moving closely together. A glance across the currency world as well as the gold world shows a tightening of the trading range of currencies and the continued consolidation of gold. We are seeing a sideways movement in prices ahead of a very strong move, soon. Full Story
The billionaire investor yesterday disclosed that in the first quarter he bought 1.05 million shares in SPDR Gold Trust, the world’s biggest gold exchanged-traded fund, valued at about $123.5 million. Soros cut his firm’s investments in U.S. stocks by more than a third in the first quarter and bought a $264 million stake in the world’s biggest bullion producer Barrick Gold Corp. Full Story
By: Chintan Karnani, Insignia Consultants - 17 May, 2016
Yesterday’s fall in gold from $1290 to $1272 was very quick. All buy stop losses got triggered. There was a chain reaction. There will be similar moves everyday. The bad thing is that gold was not able to break past $1300, despite having a good chance for the same. Momentum is still bearish for gold. Everyone wants to invest in gold. In case is not able to break past $1310 by 10th June, then frustration will come to investors and there can be short term outflows from gold ETF’s. Full Story
Gold gained $14.63 to $1288.33 in London before it chopped back down to $1271.08 by early afternoon in New York, but it then bounced back higher into the close and ended with a gain of 0.05%. Silver climbed up to $17.39 before it fell back to $17.097, but it still ended with a gain of 0.23%. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 16 May, 2016
These are the reasons why the prospects for gold and silver are brightening by the day and why institutional investors of note are lauding gold’s qualities. The uptrend in gold and silver has started, but has yet to move into second gear. We are close to that happening now. Full Story
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