By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 August, 2013
New York closed at $1,374.60 up $7.20. Asia took it up to $1.376 where it held in London ahead of the Fix. It Fixed in London at $1,374.50 up $4 and in the euro at €1,028.586 up over €1. Ahead of New York’s opening gold was at $1,376.15 and in the euro at €1,029.74. Full Story
The PRICE of gold held just shy of last week's 2-month closing high in London trade on Friday, retreating $10 from an overnight high of $1380 per ounce as world stock markets also held flat. Silver prices were similarly unchanged for the day and the week, trading around $23.15. Full Story
Gold is flat on the week after a near 5% gain last week. Gold is well bid in Asia with volumes and premiums remaining robust which will support prices. As will continuing futures backwardation and the fact that gold borrowing costs remain in backwardation at near Lehman Brothers lows. Full Story
There is a mad rush to buy gold from India, China, and Indonesia and all over Asia. This has prevented gold prices from falling. Gold has withered the entire tapering storm, some excellent news of US economic recovery, European economic recovery and Chinese economic recovery. The slump in the Indian stock markets and the rise in Indian gold prices to a near high will result in more and more people wanting to invest in gold (whether by hook or by crooked ways). Full Story
By: Chris Mullen, Gold-Seeker.com - 22 August, 2013
Gold fell $12.50 to $1354.90 in early Asian trade before it climbed to see a 1% gain at as high as $1381.51 by a little after 10AM EST and then fell back under $1370 by early afternoon, but it then edged back higher in the last few hours of trade and ended with a gain of 0.53%. Silver slipped to $22.457 before it climbed to as high as $23.313 and ended with a gain of 0.57%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 August, 2013
New York closed at $1,367.40 71.30 down $3.90. Asia took it back up to $1,378 but once again then London pulled it back to $1,370 before it Fixed in London at $1,370.50 up $10.50 and in the euro at €1,027.284 up nearly €12.00. Ahead of New York’s opening gold was at $1,368.00 and in the euro at €1,027.99. Full Story
The PRICE of gold recovered overnight losses after the release of US Federal Reserve meeting notes in London trade Thursday morning, rising back to $1375 as major stock markets also rose with commodities. The Dollar continued to strengthen, helping the gold price rally faster for non-US investors. Reversing an earlier 1.5% drop, the gold price in Euros regained last Friday's finish above €1030 per ounce – the highest weekly close in ten. Full Story
The U.S. FOMC policy meeting minutes told investors nothing new. The next Fed policy meeting is September 17th and 18th. Investors believe that decreasing the $85 million per month in bond purchases will happen in September. This will likely create significant volatility in markets with the stock market vulnerable to a sharp correction after recent strong gains. Full Story
FOMC minutes have shown a support for tapering which has been factored in by the markets. It will be a technical trade from here. Gold needs to trade over $1350 and silver needs to trade over $2240 for the rest of the month to be in a bullish zone and there will be another wave of selling if they trade below these prices in the US session. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 August, 2013
Gold fell $11.70 to $1359.60 at about 5AM EST before it rose to as high as $1378.20 after today’s fed minutes were released, but it then fell back off into the close and ended with a loss of 0.28%. Silver slipped to $22.76 before it climbed to as high as $23.342 by a little before 3PM EST, but it then fell back off in the last hour of trade and ended with a loss of 0.3%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 August, 2013
In 1991, the Indian government pledged the nation’s gold reserves against foreign loans that were provided to the nation from international sources. So they have already trodden the path of using gold to support their international presence and in international dealings. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 August, 2013
New York closed at $1,371.30 down $4.70. Asia took it down to $1,363 ahead of London’s opening but then London pulled it back to $1,365 before it Fixed in London at $1,360.00 down $5.75 and in the euro at €1,015.380 down nearly €5.00. Ahead of New York’s opening gold was at $1,363.5 and in the euro at €1,017.08. Full Story
BULLION prices recovered most of an earlier dip lunchtime Wednesday in London, with gold trading 1.2% lower for the week so far ahead of policy-meeting minutes from the US Federal Reserve. Asian and European stock markets fell once again, as did commodities and major government bond prices. Full Story
Premiums on the Shanghai gold exchange are robust at $21 over COMEX spot suggesting robust physical demand. Volumes in China remain high and volumes on Shanghai’s benchmark spot contract climbed to the highest in more than two weeks. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 August, 2013
Gold fell $14.34 to $1352.26 in Asia, but it then climbed to as high as $1377.00 in New York and ended with a gain of 0.34%. Silver slipped to $22.28 in Asia before it rebounded to as high as $23.301 by a little after 10AM EST, but it then drifted back lower into the close and ended with a loss of 0.69%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 August, 2013
New York closed at $1,366.60 down $6.40. Asia took it to $1,357.00 but then London pulled it back to $1,365 before it Fixed in London at $1,365.75 down $9.50 and in the euro at €1,020.282 down €12.00. Ahead of New York’s opening gold was at $1,366.65 and in the euro at €1,020.65. Full Story
The DOLLAR PRICE of gold briefly jumped back above $1370 per ounce Tuesday lunchtime in London, before drifting lower as world stock markets fell hard with commodities. Reversing all of an earlier 1.2% drop – which analysts had called "profit taking" – spot gold prices spiked less sharply for non-Dollar investors as both Sterling and the Euro jumped to two-month highs. Full Story
Gold and silver both pulled back yesterday on profit taking and as stop loss limits triggered selling. There were jitters among some market participants as President Obama met the heads of the CFTC, SEC, CFPB, FHFA, NCUA, FDIC, the Comptroller of the Currency and the Federal Reserve. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 August, 2013
Gold climbed $11.26 to $1384.26 in Asia before it fell to as low as $1362.40 by late morning in New York and then bounced back higher in afternoon trade, but it still ended with a loss of 0.47%. Silver slipped to as low as $23.007 and ended with a loss of 0.09%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 August, 2013
New York closed at $1,373 up $1010. Asia took it to $1,378.00. London then pulled it back to $1,373.40 before it Fixed in London at $1,375.25 up $14.50 and in the euro at €1,032.386 up nearly €11.00. Ahead of New York’s opening gold was at $1,376.50 and in the euro at €1,032.014. Full Story
WHOLESALE GOLD edged back from last week's two-month closing high on Monday morning, recording its best London Gold Fix since 18th June above $1375 per ounce. World stock markets slipped, with Indonesia dropping 5.5%, as major government bond prices also fell, driving interest rates higher. Full Story
Gold was up 4.60% and silver surged 13.3% for the week. Silver is up eight sessions in a row and is headed for the longest daily rally since March 2008. Gold remains in backwardation and gold lending rates dropped further last week which is bullish for prices in the coming weeks. Full Story
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