By: Chris Mullen, Gold Seeker Report - 21 December, 2018
Gold edged up to $1262.60 in Asia before it dropped back to $1256.20 in London and then bounced back above unchanged in early New York trade, but it then drifted back lower into the close and ended with a loss of 0.44%. Silver chopped between $14.777 and $14.606 and ended with a loss of 1.02%. Full Story
Gold needs a close over $1260 and silver needs a close over $1490 today to zoom next week. Volumes will be there from Asia. Trading volumes will be down next week but not zero. Holiday goers will enjoy as petrol/diesel prices are low. The current market situation is that one should not leave any open positions while on holiday. Anything can happen. Apart from economics everything can affect gold, silver, energies and precious metals. Full Story
By: Chris Mullen, Gold Seeker Report - 20 December, 2018
Gold gained $24.30 to a new 5-month high at $1266.30 by early afternoon in New York before it chopped back lower into the close, but it still ended with a gain of 1.53%. Silver rose to as high as $14.841 and ended with a gain of 1.3%. Full Story
Jingle bells have not rung for any investment class towards the close of the year. We all read about heaven and hell on our religious books. In the “Kaalyug” (technological age as per Hindu scriptures), most of the people go to hell as they perform more bad deeds than good deeds. In financial language heaven is profit and hell are investment and trading losses. Most of us go to hell as we incur more trading losses and investment losses. The number of hell goers or loss makers way out number the heaven goers or profit makers. Full Story
By: Chris Mullen, Gold Seeker Report - 19 December, 2018
Gold edged up to $1251.40 in Asia before it dropped back to $1246.80 in London and then jumped up to $1258.00 at about 10:30AM EST, but it then fell to as low as $1241.90 after today’s fed announcement and ended with a loss of 0.58%. Silver rose to as high as $14.821 before it fell back to $14.55, but it ended with a loss of just 0.41%. Full Story
– Review of 2018: ‘Everything bubble’ started bursting – International stock market indices and many property markets have fallen sharply – SPX 500 -4.5%, Nikkei -8%, EuroStoxx 50 -12.5%, FTSE -13%, DAX -16.5% – Of 54 major international stock market indices, only 6 are higher (see table below) – Global property bubble bursting – London, Sydney and Vancouver fall nearly 10% – Crypto bubble burst as bitcoin falls from $20k to below $4k and cryptos collapsed – Collapse of central bank driven asset bubbles to continue and intensify in 2019 – Gold lower in USD in 2018 but gains in EUR, GBP, AUD, CAD and most currencies Full Story
By: Chris Mullen, Gold Seeker Report - 18 December, 2018
Gold erased early Asian gains and dipped to $1245.10 at about 2AM EST before it rallied up to $1250.30 in London and then fell to see slight losses by midmorning in New York, but it then climbed back higher into the close and ended with a gain of 0.24%. Silver chopped between $14.721 and $14.613 and ended with a loss of 0.2%. Full Story
A friend asked me today what I thought Powell should do. I said, “the system is screwed. It ultimately doesn’t matter what anyone does. The money printing, credit creation and artificially low interest rates over the last 10 years has fueled the most egregious misallocation of capital in history of the universe. Full Story
By: Chris Mullen, Gold Seeker Report - 17 December, 2018
Gold saw slight losses in Asia, but it then climbed steadily higher in London and New York and ended near its early afternoon high of $1248.10 with a gain of 0.65%. Silver rose to as high as $14.70 and ended with a gain of 0.62%. Full Story
Gold is not only flowing from West to East. It is also flowing into the house account at Goldman Sachs. Or at least the paper claims for it in New York. Below is the monthly report showing the large amounts of physical gold which have been steadily flowing through the Shanghai markets into strong hands in China. Few commentators are talking about this. Full Story
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