By: Chris Mullen, Gold-Seeker.com - 21 October, 2016
Gold fell $4.90 to $1261.20 in Asia before it bounced back to $1267.91 in early New York trade and then drifted back lower into midday, but it then edged back higher into the close and ended with a gain of 0.09%. Silver rose to as high as $17.55 and ended with a gain of 0.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 October, 2016
Shanghai kept the gold price in line with New York’s close, as did London. A correction now is healthy as the gold price is turning higher. As you can see below, purchases of around 3.5 tonnes of gold into gold ETF’ were seen in the U.S. but dealers decided that this would not reflect in the gold price, for now. These moves in the gold price remain small in percentage terms, so we cannot read too much into them. Full Story
So whilst the market is distracted by a seemingly strong dollar, its important to remember that the situation that is keeping it strong will remain after an election which will no doubt take its toll on it. This will only be good for gold and silver, and in the meantime why not take advantage of cheaper silver coins. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 October, 2016
Gold gained $4.22 to $1273.62 by a little before 10AM EST before it dropped back to $1264.84 in early afternoon action, but it ended with a loss of just 0.26%. Silver slipped to as low $17.454 and ended with a loss of 0.85%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 October, 2016
Once again, New York’s close and London’s opening was very close. But again Shanghai spent the day well above their prices by $5 and more. Having worked with successful arbitrageurs in London in the past, we can clearly see that through the International Shanghai Gold Exchange arbitrage in gold is not just feasible but practiced. Full Story
Developments in recent days and weeks have highlighted the risks posed by the war on cash and the cashless society. The Presidential campaign has been dominated for months and again this week by the power of information that has been gathered through unconventional means – whether due to email hacks, leaked microphone tapes or even late-night twitter rants. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 October, 2016
Gold gained $11.23 to $1273.23 in late morning New York trade before it drifted back lower in afternoon action, but it still ended with a gain of 0.59%. Silver rose to as high as $17.768 and ended with a gain of 0.45%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 October, 2016
New York’s close and London’s opening was barely different. But Shanghai spent the day well above their prices by $5 and more. But as London’s morning progresses we saw the gold price jump over $1,270. This implies that the ‘premium’ in Shanghai is not a premium but a more accurate pricing of gold, as London quickly followed, then led Shanghai higher at the price setting of the LBMA this morning. Full Story
The firm’s Chief Precious Metals Analyst James Steel says in a note published on Friday that “demand for gold is often stimulated by the same factors that fan protectionist and populist sentiment” and that “abrupt declines in cross border trade, investment and immigration, the dislocation of global economic policies, and a beggar-thy-neighbor approach to trade is almost tailor-made for higher gold prices.” Full Story
The good thing for gold and silver is that they have managed to trade over key technical supports of $1236 and $1672. Investor’s attitude towards bullion has not changed. They exit on any hints of price reversals. If the UK pound starts paring some of the last quarter’s losses then gold still will target $1434 by next month. The next three trading sessions till Friday are very crucial for gold and silver. If they remain firm then a quick fire rocket rise will be there on a combination of technical breakout buying and shorts getting squeezed. Cautious optimism for now. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 October, 2016
Gold gained $8.98 to $1263.58 in late Asian trade before it fell back to $1256.66 by midmorning in New York, but it then climbed to a new session high of $1264.67 in early afternoon action and ended with a gain of 0.6%. Silver rose to as high as $17.699 and ended with a gain of 0.92%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 October, 2016
The difference between New York’s close and Shanghai’s gold prices is gaining momentum. Yesterday and today there is a $10 difference, commonly referred to as the ‘premium in Shanghai. Such a comment implies that Shanghai has to add on an amount because gold is less available there and must wait for imports to even out prices. But the reality is that China has more than enough physical gold to satisfy the market on ‘normal’ days. Full Story
In the explosive interview with the journal Central Banking, Professor Issing, said “one day, the house of cards will collapse” as the European Central Bank (ECB) is becoming dangerously over-extended and the whole euro project is unworkable in its current form. The founding architect of the monetary union has warned that Brussels’ dream of a European superstate will finally be buried amongst the rubble of the crumbling single currency he designed. Full Story
Traders and investors are reluctant to go long over apprehensions of a quicker than expected interest rate hike by the Federal Reserve. If Trump becomes the US president, then US interest rates projections will be reworked. There will be chopping and churning of US treasury benches. If Clinton wins, there will be policy continuity with monthly jobs numbers dictating the trend. NATO wars, migrants problems and all other bullion positive factors have failed to have any impact so it is better if we ignore the same in the short term. Full Story
By: Chris Mullen, Gold-Seeker.com - 17 October, 2016
Gold saw a slight loss at $1250.62 in late Asian trade, but it then chopped back higher for most of the rest of the day and ended with a gain of 0.26%. Silver rose to as high as $17.496 and ended with a loss of 0.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 October, 2016
Shanghai is holding the gold price higher than both London and New York. After New York’s close on Friday Shanghai lifted it $8.5 as the Yuan weakened. It remains in a very narrow trading band around $1,260. This morning London pulled it back in the morning to $1,252 before turning it higher. We continue on the brink of a strong move either way. Full Story
Another property bubble in Dublin is gradually forming. Prices at the high end of the market have surged in recent years and some areas are back at record levels seen in 2007/2008. Already, there have been sharp falls of 15% to 20% in the leafier suburbs of Dublin – in Dublin 4, Dublin 6 and high end Killiney and Foxrock-Carrickmines as reported in detailed analysis by the Sunday Business Post recently. Full Story
The direction of the US dollar and Asian demand will be the key for gold and silver this week. Sentiment for gold and silver is bearish. Technically gold and silver can move five percent either side anytime. However a crash (if any) in gold and silver should be used to invest for the very short term. A December interest rate hike has been factored in by the markets. Full Story
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