By: Julian D. W. Phillips, Gold Forecaster - Global Watch - 23 May, 2014
The Russia/China Gazprom deal will lead to 25% of China’s energy requirements being met on the current numbers in the contract, by 2018. We note that this number allows for an increase in this supply thereafter. If we combine this with the internationalization of the Yuan happening in many countries, we see China is building a strong base of operations for the Yuan that allows it to control the value of the Yuan exchange rate as it is doing now with its ‘moving peg’ against the dollar. Full Story
Reserve currency status does not last forever. Empires rise and fall. The world is constantly changing and evolving. Nothing lasts forever … Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 May, 2014
The gold price closed at $1,290.50 $2.50 down from yesterday, in New York. In Asia the price rose to $1,295.20 and London held it there. The gold Fixing was set at $1,294.50 up $2.50 and in the euro at €945.926 up €3.273 while the euro stood weaker at $1.3685. Ahead of New York’s opening the gold price was at $1,296.00 and at €947.37. Full Story
India's central bank, the Reserve Bank of India (RBI), eased tough gold import rules late last night,by allowing seven more private agencies to ship and import gold bullion. Industry officials and gold analysts say the easing of restrictions will increase supplies, reduce premiums and lead to increased demand in the peak wedding season. Full Story
By: Manan Somani, Insignia Consultants - 22 May, 2014
Opening up gold imports is like a drought land getting rains. There are huge short positions in gold and higher Indian demand is the best case for gold to rise to $1400 and over. Full Story
Gold dropped $9.85 to $1284.85 just after today’s release of FOMC Minutes, but it then bounced back higher into the close and ended with a loss of just 0.25%. Silver slipped to as low as $19.285 and ended with a loss of 0.1%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 May, 2014
The gold price closed at $1,293.00 unchanged from yesterday, in New York. In Asia the price held at that level as it did in London. The gold Fixing was set at $1,292.00 up $0.50 and in the euro at €942.653 down €0.805 while the euro stood at $1.3706. Ahead of New York’s opening the gold price was at $1,293.80 and at €944.07. Full Story
Gold is marginally lower today at $1,293.50/oz and remains in lock down in an unusually tight range between $1,287/oz and $1,306/oz this week. Gold in Singapore, which often sets the price trend in Asia, traded at $1,292.23/oz prior to a bounce to just over $1,295/oz. Full Story
Gold dropped down to $1286.13 at about 8:20AM EST before it jumped up to $1296.56 by midday in New York and then chopped back lower at times, but it still ended with a gain of 0.085%. Silver slipped to $19.259 before it rose to $19.455 and then also fell back off, but it still ended with a gain of 0.15%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 May, 2014
The gold price closed at $1,293.1 down $2.50 on Monday, in New York. In Asia the price dropped to $1,291 ahead of London’s opening, where London held it. The gold Fixing was set at $1,291.50 down $9.50 and in the euro at €943.458 down €5.208 while the euro stood at $1.3689. Ahead of New York’s opening the gold price stood at $1,293.00 and in the euro at €943.45. Full Story
Investors weighed uncertainty surrounding developments in Ukraine as pro-Russian separatists and Ukrainian forces in the eastern reaches of the country continued to clash yesterday, resulting in the death of one Ukrainian soldier. Ukraine will hold elections on May 25 and concerns persist of a civil war. Full Story
By: Manan Somani, Insignia Consultants - 20 May, 2014
Failure of gold to break past $1326 in the next three weeks will result in a fall to $1230 and $1190 first and thereafter a rise to $1425. However silver needs to fall below $1860 for another wave of selling. Physical demand for silver will zoom if silver prices near $1800. China will triple its solar power generation capacity by 2017. In India if prime minister elect Mr. Narendra Modi follows the Gujarat model of renewable energy then India will also follow China. Full Story
Gold climbed $12.03 to $1305.13 at about 8:30AM EST, but it then fell back off for most of the rest of trade and ended near its last minute low of $1292.59 with a gain of just 0.04%. Silver slipped to as low as $19.338 and ended with a gain of just 0.15%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 May, 2014
The gold price closed at $1,293.1 down $2.50 on Friday, in New York. In Asia the price rose $3.6 ahead of London’s opening, but London took it over $1,300. The gold Fixing was set at $1,301 up $7.25 and in the euro at €948.666 up €5.493 while the euro stood at $1.3714. Ahead of New York’s opening the gold price stood at $1,300.2 and in the euro at €947.70. Full Story
Over the weekend, incoming Indian leader Modi told thousands of supporters that he represents a break from past governments after winning the nation’s biggest electoral mandate in 30 years. Last week, Reserve Bank of India Governor Raghuram Rajan said that the new Indian finance minister will decide on easing gold import curbs. Full Story
By: Manan Somani, Insignia Consultants - 19 May, 2014
Gold and silver are in a neutral zone and will see big one way five percent one way moves this week. The longer gold trades over $1260 the chances of a big rise are higher. Fundamentally gold is bearish. However Indian gold demand should rise more so after the victory to NDA let government. Once the process of higher growth starts in India and retail investors make some short term quick profits from Indian stock markets, a part of the proceeds profits will move into gold. Full Story
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