SPOT BULLION prices for gold fell $25 Friday morning from yesterday's 7-session high, trading at $1350 per ounce as concerns grew that next month's US "debt limit" deadline could spark panic in financial markets. Full Story
Gold edged off since its rally after the U.S. Federal Reserve decided to maintain its current stimulus program. The yellow metal added nearly 3% for the week and is on track for its biggest gain in five weeks. Gold bullion rallied 4.1% on September 18th after the Fed cited it needed to see more examples of economic recovery before it reduces the $85 billion-a-month of bond buying. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 September, 2013
Gold chopped around on either side of unchanged in volatile trade and ended with a loss of just 0.08%. Silver slipped to $22.817 before it rebounded to $23.395 and then fell back off in the last four hours of trade, but it ended with a loss of just 0.35%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 September, 2013
New York closed at $1,366.3 up $56.40 cents or 4.3% on Wednesday increasing those gains at London’s opening to over $1,370 level. It then Fixed at $1,363.50 up $63.75. In the euro it Fixed at €1,005.902 up €32.75 as the dollar weakened. Ahead of New York’s opening gold was trading at $1,361.65 and in the euro at €1,004.46. Full Story
WORLD stock markets, foreign currencies and commodities extended yesterday's jump versus the US Dollar in Asia and London on Thursday morning, with gold regaining the $1370 level it leapt to after the Federal Reserve voted not to trim its quantitative easing program. Defying the expectations built since April, the Fed gave financial markets what one FX strategist called "a massive green light for a risk-on party." Full Story
This morning, gold spiked to $1,376/oz in early trading in London, prior to profit taking and sellers pushed gold a few dollars lower after yesterday’s $53 surge. Zero Hedge noted that gold’s price move higher commenced some 3 minutes prior to the FOMC minutes being released, suggesting that certain entities had advance knowledge of the no taper FOMC announcement. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 September, 2013
Gold dropped $18.50 to $1291.40 in Asia before it rebounded to $1307.52 in London and then fell back to $1296.00 by a little before 10AM EST, but all bets were off when it became time for the fed’s highly anticipated announcement on possible tapering of its stimulus program. Gold initially climbed up to $1312.02 just before the announcement and then jumped to $1349.35 just after the announcement before it pared its gains a bit in the next hour of trade, but it then climbed to a new session high of $1367.20 in the last hour of trade and ended with a gain of 4.31%. Silver slipped $0.52 to $21.20 at about noon EST, but it then soared to as high as $23.213 and ended with a gain of 6.31%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 September, 2013
New York closed at $1,309.90 up 40 cents on Tuesday slipping in Asia and London to the $1,300 level. It then Fixed at $1,299.75 down 17.50. In the euro it Fixed at €973.158 down €12.50. Ahead of New York’s opening gold was trading at $1,301.30 and in the euro at €987.13. Full Story
The WHOLESALE price of gold fell below $1300 for the first time in 6 weeks Wednesday morning in Asia, as traders in all markets awaited today's US Fed announcement on QE tapering. Regaining that level in London – a record high when first reached 3 years ago next week – gold still held 7% beneath the start of September. Full Story
Gold dropped to its lowest in a month today, $1,292.02/oz, on speculation that the U.S. Federal Reserve will decrease its quantitative easing programme marginally. Silver hit a one month low and platinum dropped to its lowest in two months. Gold inched lower despite a weakening U.S. dollar and continued safe haven demand for physical prior to the conclusion of the U.S. Fed's policy meeting today. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 September, 2013
Gold climbed $13.84 to $1323.34 in Asia before it fell back to $1306.01 in early afternoon New York trade, but it then bounced back higher in the next couple of hours of trade and ended with a gain of 0.03%. Silver rose to as high as $22.086 in Asia before it fell to as low as $21.60 in London, but it still ended with a gain of 0.09%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 September, 2013
New York closed at $1,309.5 down 45.50 on Monday before rising in Asia to $1,318. In London, it tried to ease but moved back up to $1,320. It then Fixed at $1,317.25 up $3.50. In the euro it Fixed at €985.744 up €1.00. Ahead of New York’s opening gold was trading at $1,319.10 and in the euro at €987.13. Full Story
The WHOLESALE price of gold halved an early 1.5% rally lunchtime Tuesday in London, dropping back to $1315 per ounce as world stock markets fell ahead of tomorrow's long-awaited US Federal Reserve decision. Silver reversed all of an earlier 1.8% climb, falling back below $22 per ounce. Full Story
Yesterday Goldman Sachs said that a ‘dovish’ taper would likely limit the downside to gold prices but said that a more hawkish taper than currently expected would likely precipitate a further decline in gold prices. Goldman Sachs have a habit of making big and loud market calls such as their call for oil to rise to $200 a barrel when oil had already surged from $50 a barrel in March 2007 to $140 a barrel in September 2008. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 September, 2013
Gold erased early Asian gains and fell $15.70 to $1307.50 at about 8:20AM EST before it rebounded to $1325.10 in the next 100 minutes of trade, but it then fell back off into the close and ended with a loss of 1.04%. Silver slipped to as low as $21.653 and ended with a loss of 2.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 September, 2013
New York closed at $1,315 on Thursday and has held around that level through Friday and the opening of Asia and London on Monday. It then Fixed at $1,314.75 up $6.50. In the euro it Fixed at €984.831 up €3.70. Ahead of New York’s opening gold was trading at $1,316.40 and in the euro at €986.40. Full Story
The PRICE of gold fell hard Monday morning, retreating near Friday's 5-week lows after earlier spiking to $1336 per ounce in Asian hours despite wholesale dealers reporting lacklustre trade. Former US Treasury secretary Larry Summers last night withdrew from being considered for the role of US Federal Reserve chief, citing strong political opposition. Full Story
Some analysts in the blogosphere said that the price gains on Friday and on the open in Asia were due to new allegations of manipulation by Wall Street bullion banks. Two new whistleblowers are believed to have joined Andrew Maguire, the independent bullion trader and whistleblower, in alleging to U.S. regulators and the CFTC. They allege that price fixing is being committed and that prices in the international gold and silver markets had been manipulated in the same way that LIBOR is manipulated (see commentary). Full Story
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