By: Chris Mullen, Gold-Seeker.com - 23 October, 2015
Gold gained $13.11 to $1179.41 at about 8AM EST before it fell back to $1159.15 in the next couple of hours of trade, but it then rallied back higher into the close and ended with a loss of just 0.15%. Silver rose to $16.087 before it dropped back to $15.719, but it then bounced back higher and ended with a gain of 0.13%. Full Story
Gold has risen about 5 percent this month as patchy economic data lessened expectations of a U.S. rate increase any time soon. Indeed, there are increasing noises suggesting negative interest rates may be coming in the U.S. and EU. Gold is now just 0.2% lower for the week in dollar terms and is nearly 2% higher in euro terms. Gold is on track for its best monthly performance since January, with a rise of 5.5%. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 October, 2015
Gold edged up to $1169.35 in London before it fell back to $1163.05 at about 9:30 AM EST and then shot up to $1171.84 in the next hour of trade, but it then drifted back lower into the close and ended with a loss of 0.09%. Silver rose to as high as $15.919 before it also fell back off, but it still ended with a gain of 0.83%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 October, 2015
New York was trading at $1,171.70 on Thursday after closing at $1,170.20 on Monday. The LBMA price setting fixed it at $1,166.40. The dollar Index has risen and now stands at 95.92 against 94.61 last Friday and the dollar was trading against the euro at $1.1182 up from against last Friday’s $1.1354. In the euro the fixing was €1,043.10 up from €1,035 last Friday. At New York’s opening gold was trading in the euro at €1,046.45 and at $1,169.35. Full Story
Recent research has begun to cast some doubt upon the inflation hedging capacity of gold by Dr Brian Lucey.
The inflation experience over the last 40 years, since gold began to float freely, has been very mixed. In the 1970s we were concerned in relation to inflation, perhaps even fears of hyperinflation; not the talk is of deflation or disinflation. Full Story
By: Chris Mullen, Gold Seeker Report - 21 October, 2015
Gold fell $13.02 to $1164.18 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 0.84%. Silver slipped to as low as $15.643 and ended with a loss of 1.32%. Full Story
Gold is looking likely to finish the year positive for the first time since 2012, according to Frank Holmes writing in Forbes today. Holmes points to the weaker US dollar, the probability of near-zero interest rates for the remainder of the year and a seasonal increase in demand as underpinning the positive momentum. Full Story
I am not buying into gold and silver at current prices unless there are clear signs of a trend reversal. Fears over Chinese growth and the subsequent effect on demand for gold and silver is preventing precious metals and base metals from a rise. At the moment the fall in gold and silver is just profit taking which if it continues till Friday will mark the beginning of another short term bearish phase. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 October, 2015
Gold popped up to $1177.24 at about 9AM EST before it dropped back down to $1169.36 in the next couple of hours of trade and then bounced back higher into early afternoon, but it then drifted back lower again in the last hour of trade and ended with a loss of 0.43%. Silver slipped to as low as $15.761 and ended with a loss of 1.12%. Full Story
Change is brewing in London as the the LBMA – the association that oversees the world’s largest gold market – is looking at how best to modernise and improve over-the-counter gold trading. As members of the world’s gold industry meet this week at the LBMA’s annual conference in Vienna, their proposals are being sought on how to bring the gold trading in London up to date. According to Eddie Van Der Valt reporting today for Bloomberg, London’s bullion market is more than three centuries old and has cleared about $21 billion of gold on average each day through the city this year. Full Story
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