By: Chris Mullen, Gold-Seeker.com - 22 November, 2013
Gold fell to $1241.19 in London before it rallied back to $1248.97 in morning New York trade, but it then fell back off into the close and ended unchanged on the day. Silver slipped to as low as $19.827 in the last hour of trade and ended with a loss of 0.6%. Full Story
FOUR-MONTH lows in gold continued vs. the Dollar and Euro in London on Friday, with the metal heading for its lowest weekly finish in British Pounds since early August 2010. World stock markets rose meantime, extending 2013's 30% gain on the MSCI index, as did commodities and government bond prices, after the Dow Jones index in New York ended last night above 16,000 for the first time. Full Story
Many traders and investors are still scratching their heads at the peculiar gold trading Wednesday which pushed gold below the important technical level of $1,250/oz. Support at $1,250/oz has been breached and gold is vulnerable of a fall to test support at $1,200/oz and the June 28th low of $1,180/oz. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 November, 2013
Gold edged up to $1250.34 in London before it fell back to $1236.74 at about 10AM EST and then bounced back higher midday, but it still ended with a loss of 0.12%. Silver climbed to $20.055 at about 4:45AM EST before it fell back to $19.732 in the five hours of trade, but it then rallied back higher in New York and ended with a gain of 0.71%. Full Story
LONDON dealing in gold saw prices retreat towards last night's new 4-month lows Thursday morning, failing to rally above $1250 per ounce as world stocks markets held flat – and major government bonds continued to slip – following publication of minutes from the US Federal Reserve's last policy meeting. Full Story
Gold was trading near four month lows today after its biggest drop in seven weeks yesterday. Another bout of peculiar concentrated selling led to Comex halting trading in December gold futures twice yesterday, the fourth time in less than 3 months. Minutes of the Fed's October policy meeting suggested that the Fed may start scaling back the U.S. central bank's $85 billion in monthly asset purchases at one of the next few meetings and this may have exacerbated the sell off. ‘Taper’ speculation remains rife despite the increasing likelihood of no taper due to the very fragile state of the U.S. economy. Full Story
There have been a lot of comments by Federal Reserve speakers expressing dissatisfaction over the pace of the recovery in the unemployment rate, yet gold and silver are continuing to fall. The fall in gold and silver will result in more and more short term traders reversing their short term long positions into short positions. The momentum is hyper bearish for gold and silver. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 November, 2013
Gold fell $17.08 to $1256.32 at about 10AM EST before it bounced back higher midday, but it then fell to a new session low of $1241.11 following the release on minutes from the last fed meeting and the yellow metal ended today’s session with a loss of 2.25%. Silver slipped to as low as $19.793 and ended with a loss of 2.31%. Full Story
WHOLESALE gold fell to new 5-week lows Wednesday lunchtime in London, dropping below $1257 for a 2.5% loss so far this week after new data showed US consumer prices falling last month from September. Year-on-year, inflation in the US CPI fell to 1.0%, its lowest level since the deflation of 2009. US stock markets rose after the news, while European equities cut earlier losses. Silver tracked gold lower, falling to a 15-week low at $20.14 per ounce in wholesale London trade. Full Story
Gold in sterling terms is testing strong support at the £775/oz level. A breach of this level could lead to gold testing the next level of support at £740/oz and below that at £700/oz which was resistance in 2009 (see 5 year chart below). Gold was trading in a tight range until it suffered another very sharp concentrated sell off at 1126 GMT which led to prices falling from $1,272/oz to $1,259/50 in seconds. The selling was so furious and concentrated that it led the CME to stop trading for a significant twenty seconds. Some entity appeared determined to get the gold price lower and they succeeded - for now. Full Story
This is the time best time for gold and silver to make another big upward move and more so after Bernanke’s comments on interest rates. Federal Reserve Chairman Ben S. Bernanke said the labor market has shown “meaningful improvement” since the start of the central bank’s bond-buying program and that the benchmark interest rate will probably stay low long after the purchases end. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 November, 2013
Gold dipped $4.55 to $1269.15 by a little after 6AM EST before it climbed to as high as $1278.76 in morning New York trade, but it then dropped back off midday and ended with a loss of 0.02%. Silver slipped to $20.219 before it bounced back to $20.493, but it then fell back off in late trade and ended with a loss of 0.44%. Full Story
WHOLESALE QUOTES for gold bounced from 1-week lows beneath $1270 per ounce Tuesday morning in London, turning higher as Asian and European stock markets failed to extend Monday's rise to new all-time highs in US equities. UK investors wanting to buy gold saw it dip overnight within £15 per ounce of end-June's three-year low at £775. Full Story
Gold remains under pressure after the losses incurred yesterday. Gold has failed to rally despite Janet Yellen, the Federal Reserve's chief in waiting, indicating she would continue the U.S. central bank's ultra-easy monetary policy. Gold prices look vulnerable to further price falls. Support is at the recent low of $1,261.42, followed by the $1,251.84 low from October 15th. A close below that mid October low could see gold fall to test the June lows of $1,180/oz. Full Story
It seems bulls have given up hope on commodities which are on the verge of falling below key long term supports. Base metals, energies and silver are looking more bearish than in the past three months. One needs to wait and watch before making fresh investment in gold, silver and copper. There are no new developments at the moment. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 November, 2013
Gold fell $17.50 to $1270.30 in early afternoon New York trade before it bounced back higher, but it still ended with a loss of 1.09%. Silver slipped to as low as $20.317 and ended with a loss of 1.64%. Full Story
SilverSeek.com will be hosting a special 60-minute live online event with David Morgan, of the “The Morgan Report” newsletter and Scott Drever, CEO & Chairman SilverCrest Mines (OTCQX: SVLC | TSX-V: SVL), this coming Wednesday, November 20th starting at 2pm Eastern / 11 am PST. Full Story
It would be foolish to second guess what will happen in the UK EU elections come May 2014 but it appears that those households that save by placing cash on deposit will continue to lose out as the UK, the Eurozone and the U.S show no signs of easing their respective QE programmes. Full Story
"With no significant impulses expected," says the latest weekly update from refining group Heraeus, "we foresee a sideway movement in a range of $1280-1295 for the next few days." Full Story
The region between $1242-$1296 is a no mans land for gold. The region between $1970-$2020 is a no mans land for silver. Gold and silver need to trade over $1242 and $1970 for the rest of the year, to be in a long term bullish zone. Only a daily close below $1242 and $1970 for four consecutive days will result in the next big sell off gold and silver. Full Story
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