By: Chris Mullen, Gold-Seeker.com - 21 February, 2014
Gold fell $7.46 to $1316.24 in Asia before it rebounded to $1325.23 by a little after 8AM EST and end then dropped back to $1319.36 in the next few hours of trade, but it then climbed to a new session high of $1328.04 in afternoon trade and ended with a loss of just 0.02%. Silver slipped to $21.59 in Asia, but it then rose to as high as $21.936 in New York and ended with a loss of just 0.09%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 February, 2014
The New York gold price dropped to close at $1,323.70 up $13.50 on Thursday in New York. Asia let it slip to$1,316.55 before it rose back to $1,320, ahead of London’s opening on Friday. London Fixed it at $1,320.75 up $7.00. In the euro, it Fixed higher at €963.629 up €4.407, while the dollar stood at $1.3706 a tad weaker. Ahead of the opening in New York gold stood at $1,321.40 and in the euro at €963.82. Full Story
Concerns about emerging markets including China, the U.S. economy and worries about global economic growth are underpinning gold's safe haven appeal. This has led to the 6% gains in February and the 9% gains so far in 2014. Yet prices are 45% below the nominal record high of $1,915 an ounce reached in 2011. Full Story
The calculations of global economic growth have gone haywire due to weather changes and its subsequent economic impact by way of more expenditure on energy. I am more than confident that if Nymex crude oil prices are able to trade over $100 till the end of March, then the USA and Europe will not raise interest rates while developing nations like India will be forced to raise interest rates and/or take unconventional measures to curb energy related inflation. These are all bullish factors for gold in the short term. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 February, 2014
Gold saw modest gains in Asia before it dropped back to $1307.61 by a little before 8AM EST, but it then climbed to as high as $1324.98 in New York and ended with a gain of 1.03%. Silver rose to as high as $21.90 and ended with a gain of 1.82%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 February, 2014
The New York gold price dropped to close at $1,310.20 down $11.80 on Wednesday in New York. Asia took it higher back to yesterday’s level there at $1,314 where London held it ahead of London’s opening on Thursday. The dollar recovered a little to $1.3705: €1 after London opened. London Fixed it at $1,313.75 down $5.00. In the euro, it Fixed it higher at €959.222 up just over €0.131, while the dollar stood at $1.3696, stronger. Ahead of the opening in New York gold stood at $1,314.65 and in the euro at €960.19. Full Story
Federal reserve January minutes of meeting showed that there was lack of unanimity over the future course of tapering. Some of the Federal reserve members even questioned the continuing of the pace of tapering. This should be bullish for gold and silver. Now it brings us back the question is whether tapering was done by ex federal reserve chairman Ben Bernanke just to restore the credibility of the central bank. All through 2013 the basic theme was tapering by the global markets. Over the next two months, policy continuity by the Federal reserve will be the key for global financial markets. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 February, 2014
Gold fell $7.66 to $1314.34 just after the release of today’s fed minutes before it bounced back higher in the next hour of trade, but it then fell back off again into the close and ended near its last minute low of $1309.00 with a loss of 0.89%. Silver slipped to as low as $21.382 and ended with a loss of 2.37%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 February, 2014
The New York gold price rose to close at $1,322.00 up $3.40 on Tuesday in New York. Asia took it lower to $1,314 before it rose to $1,318.55 ahead of London’s opening on Wednesday. The dollar continues to weaken and stood at $1.3764: €1 ahead of London’s opening. London held gold at Asia’s price before the Fixing, which was set at $1,318.75 up $4.75. In the euro, it Fixed it higher at €959.091 up just over €1.505, while the dollar stood at $1.3751, weaker again. Ahead of the opening in New York gold stood at $1,319.20 and in the euro at €959.63. Full Story
Gold is firmly entrenched over $1310 but needs to break $1331 for another set of rise. There are still huge short positions in gold and silver. The problems is that whenever gold and silver consolidates for a few hours, traders go short. In my view traders are still holding on to their short positions. Unless there is a $20-$25 instant rise in the gold price (from current levels), these short positions will not get squared off. Silver needs to trade over $2125 to be in an intraday bullish zone. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 February, 2014
Gold rose $9.90 to $1328.50 in holiday thinned trade yesterday before it dropped back to $1312.72 by a little after 5AM EST today, but it then rebounded to as high as $1324.91 in early afternoon New York trade and ended with a gain of 0.26% from Friday. Silver slipped to as low as $21.331 this morning, but it then climbed to as high as $21.966 and ended with a gain of 2.38% from Friday. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 February, 2014
The New York gold price saw gold pause at $1,318 with Asia holding it there before London took it down steadily to $1,314 In London it Fixed at $1,314 down $12.00. In the euro, it Fixed at €957.586 down just over €10.00, while the dollar stood at $1.3722, weaker again. Ahead of the opening in New York gold stood at $1,313.75 and in the euro at €956.57. Full Story
Bullion is up 10% this year as investors and store of value buyers see the 28% fall in 2013 as a buying opportunity. The volatility and weakness in equities globally due to emerging market turmoil and economic concerns is leading to safe haven demand. Silver also fell but wasn't too far from a 3-1/2 month high of $21.96 hit on Monday. Spot silver prices rose for a 12th day yesterday, the longest rally since at least 1968, data compiled by Bloomberg show. Full Story
I am getting a call every now and then when to short gold and silver. Some of the investors whom I know and I call them hardcore gold bulls are continuously calling me and asking them when to short gold. This itself is a bullish sign for gold and silver. There are now bullish bets raised in gold and silver than seen in the last six months. The next three days are very crucial and gold and silver need to trade over the current prices to attract more short term hot money into them. I am not looking at economic data from the USA or the Eurozone or the UK unless there are confirmation of interest changes in the far term. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 February, 2014
The New York gold price surged once more to $1,318.60 up nearly $17 at the close on Friday in New York. Asia took it higher to $1,325 ahead of London’s opening on Monday. London held it there before Fixing the gold price at $1,326.00 up $17.50. In the euro, it Fixed at €967.601 up €12.003, while the dollar stood at $1.3704, weaker again. Ahead of the opening in New York gold stood at $1,327.40 and in the euro at €965.45. Full Story
I think the gold bull should thank the snow. Gold would not have risen without the help of some extra snow. Snow has caused chaos in the US but smiles to gold bulls. Gold can rise to $1354 and $1426 in the short term as long as it trades over $1309. Today US markets are closed but do not sleep. There will be price movements. Short term investment demand will now pick up. There will be more flows into gold ETFs and other gold investment sources. Short positions will either get squared or converted into long positions. I am hopeful that the gold bull run will continue for the rest of the month. Full Story
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