– Market turmoil as trade war concerns deepen and Trump appoints war hawk Bolton – Oil, gold and silver jump as ‘Russia China Hawk’ Bolton appointed – Oil up 4%, gold up 2.2% and silver up 1.6% this week (see table) – Stocks down sharply – Nikkei down 4.5%, SPX 4.3% and Nasdaq 5.5% – Bolton scares jittery markets already shell-shocked by US’ tariffs against China – Currency wars and trade wars tend to proceed actual wars – Gold now outperforming stocks year to date (see table) Full Story
By: Chris Mullen, Gold Seeker Report - 22 March, 2018
Gold chopped between $1327.50 and $1333.80 in Asia before it fell to a new session low of $1324.80 in early afternoon New York trade, but it then bounced back higher into the close and ended with a loss of just 0.38%. Silver slipped to as low as $16.35 and ended with a loss of 1.27%. Full Story
– Gold gained 1.8% and silver 2.5% to $1,333/oz and $16.60/oz yesterday – Gold climbs as Fed increases interest rates by 0.25% – now 1.5% to 1.75% range – Dovish Fed Chair Powell plans fewer than expected rate hikes in 2018 – Markets disappointed at lack of hawkish comments from new Fed Chair – Dollar LIBOR rises to highest level since November 2008 – $200 trillion worth of dollar-denominated financial products including mortgages based off LIBOR – Trade wars look set to escalate and Trump expected to announce tariffs on Chinese imports today Full Story
By: Chris Mullen, Gold Seeker Report - 21 March, 2018
Gold saw decent gains in Asia and London and climbed $16.10 to as high as $1326.50 in late morning New York trade before it pared back to $1319.40 just after today’s fed statement was released, but it then rose to new session highs into the close and ended near its last-minute high of $1335.60 with a gain of 1.76%. Silver surged to as high as $16.636 and ended with a gain of 2.47%. Full Story
– Widening of the spread between LIBOR OIS (overnight index swap) rate raises concerns – Spread jumped to 9 year widest spread, rising to 54.6bps, most since May 2009. – Libor recently moved to over 2% for first time since 2008 – Wider spread usually associated with heightened credit concerns Full Story
By: Chris Mullen, Gold Seeker Report - 20 March, 2018
Gold fell $9.60 to $1307.20 at about 10:30AM EST before it climbed back higher into midday, but it still ended with a loss of 0.49%. Silver slipped to as low as $16.116 and ended with a loss of 0.80%. Full Story
Rising U.S. interest rates, usually bad news for gold, are instead feeding signs of financial stress among debt-laden consumers and helping drive demand for the metal as a haven. That’s the argument of Sprott Inc., a precious-metals-focused fund manager that oversees $8.8 billion in assets. The following four charts lay out the case for why gold could be poised to rise even as the Federal Reserve tightens monetary policy. Full Story
By: Chris Mullen, Gold Seeker Report - 19 March, 2018
Gold dipped $6 to $1307.60 in Asia before it jumped up to $1319.60 in early afternoon New York trade and then drifted back lower into the close, but it still ended with a gain of 0.24%. Silver slipped to as low as $16.21 and ended unchanged on the day. Full Story
Strong global economic fundamentals can limit the rise of gold and silver. Whenever the focus moves away from global economic fundamentals like a Russia-UK/US spat etc. gold and silver will rise. Gold and silver will zoom if there is any clear indication of three interest rate hikes by the Federal Reserve (two after this week’s hike). I am hyper bullish in gold and silver on or after July. There is a very big chance that gold and silver form a multiyear bottom this year and move towards $2000/$45.00. Full Story
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