By: Chris Mullen, Gold-Seeker.com - 22 August, 2014
Gold edged up to $1282.88 in London before it dropped back to $1274.60 in late morning New York trade, but it then jumped back higher midday and ended with a gain of 0.24%. Silver climbed up to $19.58 before it dropped back to $19.322 and then also rebounded, but it ended with a gain of just 0.05%. Full Story
Gold is flat in trade in London and gold in Singapore also flatlined around the $1,280/oz level. Gold came under pressure yesterday when a break below the 200-day moving average of $1,284 an ounce triggered stops and technical selling sent prices falling another 1%. Full Story
August and September spending by US consumers will be the key. If it rises then the chances of an interest rate hike by the Federal Reserve by January will be very high. In the next year, I will also be closely watching the US savings rate. Any uptick in the US savings rate will result in continued long term gains for the US dollar. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 August, 2014
Gold dropped $17.85 to $1273.25 by early afternoon in New York before it bounced back higher in the last few hours of trade, but it still ended with a loss of 1.07%. Silver slipped to as low as $19.32 in late Asian trade, but it then rallied back higher into the close and ended with a loss of just 0.15%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 August, 2014
The gold price closed at $1,291.10 down $4.80 on Wednesday’s level in New York. In Asia and early London, gold prices pulled back to reflect a strong dollar. The gold price was Fixed at $1,280.50 down $14 and in the euro at €965.031 down €8.717, while the euro was weaker at $1.3269. Ahead of New York’s opening, gold was trading at $1,281.50 and in the euro at €966.40. Full Story
Gold futures trading volumes have fallen again and are a very large 74% below the average for the past 100 days in London according to Bloomberg data. Traders with hedge funds and banks remain on vacation and therefore the move lower may be a typical low volume head fake. As we warned yesterday, gold is at risk of further weakness this week and next before gold’s seasonal sweet spot begins in September with the Indian wedding and festival season coming up. Full Story
Gold and silver are looking bearish at the moment. Crude oil seems to be getting affected by triggered buy stop losses and covering by option traders. For now I am not concerned over the fall in gold and silver prices as this is a summer market. I will be concerned over the medium term fate of gold and silver if and only if they trade with a softer bias from the second week of September. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 August, 2014
Gold edged down to $1291.81 at about 6:30AM EST before it bounced back to $1297.15 in the next couple of hours of trade, but it then fell to a new session low of $1288.12 after the release of today’s fed minutes and the yellow metal ended with a loss of 0.37%. Silver slipped to as low as $19.421 in afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 August, 2014
The gold price closed at $1,295.90 down $3.00 on Tuesday’s level in New York. In Asia and early London, gold prices held that level. The gold price was Fixed at $1,294.50 down $5.75 and in the euro at €973.748 up €0.497, while the euro was weaker at $1.3294. Ahead of New York’s opening, gold was trading at $1,294.60 and in the euro at €974.67. Full Story
Volumes fell again today and gold futures trading volumes were 43% below the average for the past 100 days in London according to Bloomberg data. Futures traders remain on holiday and volumes remains low and are set to remain so in the coming days. Therefore there remains the risk of further price falls into the end of August prior to gold’s seasonal sweet spot in September through to February. Full Story
There are some media reports that more than ten percent of French people back ISIS militants. This is a disturbing sign. This is also a reflection of the political change which Europe could go through in the next general election of every European nation. ISIS sympathizers are increasing in Europe with passing of each day. European people are not idiots. They know that their leaders supporting USA in everything is wrong. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 August, 2014
Gold saw slight gains in Asia before it fell back to $1293.89 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a loss of just 0.23%. Silver slipped to as low as $19.388 and ended with a loss of 0.97%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 August, 2014
The gold price closed at $1,298.90 down $5.20 on Monday’s level in New York. In Asia and early London, gold prices hugged the $1,300 level. The gold price was Fixed at $1,300.25 down $2.50 and in the euro at €973.251 up €0.323, while the euro was weaker at $1.3360. Ahead of New York’s opening, gold was trading at $1,300.50 and in the euro at €974.12. Full Story
Incredibly lacklustre trading continues with gold and silver tethered to the $1,300/oz and $20/oz levels respectively. Gold traded between $1,298 and $1,300 per ounce after gold in Singapore ticked very marginally higher. After a pick up volumes yesterday, volumes fell again today and gold futures trading volumes were 49% below the average for the past 100 days in London according to Bloomberg data. Full Story
Traders are gauging the economic effects of Russian counter sanctions on the European economy. The prices of fruits and vegetables in some of the European nations have fallen drastically. There are chances that some of these nations could move into deflation. The European Union (EU) is saying that nations affected by Russian counter sanctions will get compensated. Where will the money come from? Obviously money will be printed. Excess money will lead to long term asset bubble creation which this time will be uncontrollable. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 August, 2014
Gold dropped down to $1297.38 in early Asian trade before it bounced back to $1303.57 at about 6AM EST and then fell to a new session low of $1296.21 in the next four hours of trade, but it then bounced back higher into the close and ended with a loss of just 0.4%. Silver slipped to as low as $19.484 in Asia, but it then climbed to as high as $19.69 in New York and ended with a gain of 0.31%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 August, 2014
The gold price closed at $1,304.10 down $8.90 on Friday in New York. In Asia, gold prices pulled back to $1,300 ahead of the opening in London. The gold price was Fixed at $1,302.75 down $10.75 and in the euro at €972.928 down €7.15, while the euro was weaker at $1.3390. Ahead of New York’s opening, gold was trading at $1,301.70 and in the euro at €971.78. Full Story
Gold is marginally lower in London this morning after gold in Singapore fell to a low of $1,297.30/oz overnight before eking out small gains. Gold futures trading volume was 66% above the average for the past 100 days in London this morning as traders, hedge funds and banks begin to return from their summer vacation. Full Story
Gold and silver will break free of the recent consolidation phase and form a new range. Friday, Indian markets were closed and gold and silver fell. This is an indication that Indian demand (official plus unofficial) is the key to gold and silver prices in the short term (apart from geopolitical factors). All out efforts are being made to curb the progress of ISIS. Full Story
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