By: Chris Mullen, Gold-Seeker.com - 23 September, 2016
Gold edged down to $1333.80 in Asia before it climbed up to $1340.56 in early New York trade and then chopped back lower into the close, but it still ended with a gain of 0.06%. Silver slipped to as low as $19.585 and ended with a loss of 1.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 September, 2016
Looking back over the week, we have seen overall U.S. demand for the shares of U.S. based gold ETFs strong and sales standing back waiting to see where gold prices will go from here. A critical question to ask is, “Have the major sellers exited the market?” If they have we could see decisive action from physical gold demand ahead. Full Story
This hard hitting critique in the UN Conference on Trade and Development’s Annual Report, released this week, is suggesting that the ‘third leg of the world’s intractable depression is yet to come.’ “Alarm bells have been ringing over the explosion of corporate debt levels in emerging economies, which now exceed $25 trillion. Damaging deflationary spirals cannot be ruled out,” said the annual report of the UN Conference on Trade and Development (UNCTAD). Full Story
The next three days till Tuesday is very crucial for gold and silver. Either they rise or else they will fall five percent and below. People in India are refraining from buying jewelry. Law enforcement officials are over the past few months on a hot pursuit of jewelers to give them information of people who have purchased jewelry in cash or by check and above a certain value. Jewelers in India have been harassed to disclose all information about purchases and selling. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 September, 2016
Gold edged down to $1331.45 in Asia before it climbed up to $1343.53 by midday in New York and then fell back off in the next few hours of trade, but it still ended with a gain of 0.23%. Silver rose to as high as $20.052 and ended with a gain of 0.35%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 September, 2016
We have a different take on the Fed’s announcement than the one that’s being reported inside the U.S. We see Janet Yellen and her team, although divided, paying great attention to the impact on the dollar, as we have said many times before. Most U.S. institutions look at the U.S. as being the driver of the rest of the world, leading the way forward. But the reality is that the U.S. is not an island, as shown by the dollar’s price in other currencies. Full Story
Global stocks and commodities also rose on continuing relief that the Fed continues ZIRP and remains ultra loose along with the BoJ, BOE and ECB whose policies are even looser. The BoJ also maintained ultra loose monetary policies at negative 0.1 percent rate and said it would continue buying government bonds at the current pace for the time being. Full Story
The reaction of gold and silver to the FOMC statement has been muted. The rise is not as per my expectation. Pace of interest rate hike will be the key and not the actual hike. A December interest rate hike is imminent and has been factored in. Election spending and resulting jobs creation can result in US nonfarm payrolls numbers coming in over 200,000 for the rest of the year. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 September, 2016
Gold dipped $3.64 to $1310.96 in Asia before it rallied up to $1329.39 at about 8AM EST and then drifted back lower at times, but it then jumped up to $1335.12 after today’s fed statement and ended with a gain of 1.48%. Silver rose to as high as $19.864 and ended with a gain of 3.12%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 September, 2016
There were substantial sales from the SPDR gold ETF yesterday, but Shanghai ignored it then London tried to pull prices back, to sit in the middle between New York and Shanghai. This is only the second time Shanghai has walked its own road very clearly. Before, exchange rate changes could have explained the moves, but not this time. If this pattern is continued pricing power will be shifting to China from New York. Full Story
Trump or Clinton are “positive for gold” and prices could rise to between $1,700 and $1,900 per ounce by year end according to Canadian gold mining magnate Rob McEwen. Gold “is a currency that doesn’t have a liability attached to it,” McEwen said Tuesday in an interview with Bloomberg at a gold conference in Colorado Springs. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 September, 2016
Gold gained $3.99 to $1317.29 in Asia before it fell to see a slight loss at $1312.36 at about 9:30AM EST, but it then bounced back higher in the next couple of hours of trade and ended with a gain of 0.1%. Silver rose to as high as $19.266 and ended with a gain of 0.37%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 September, 2016
Shanghai did walk its own road today sitting at $1,321 throughout the day, despite the lower gold price close in New York. London opened close to that level, but quickly slipped back to $1,315. We are now less than two weeks away from the adoption of the Yuan as one of the currencies that make up the SDR. The Yuan is being restrained at current levels, but we see it falling against the dollar for at least the rest of the year. Full Story
Expert advice, as we all know, is completely apolitical, changes rarely, and never, ever does a complete U-turn, like – I don’t know – telling us all to start eating butter after years of telling us not to, or something crazy like that. So why worry? I mean, what kind of deluded neurotic doom-monger would keep hanging onto gold (as insurance, of all things!) in their portfolio with people of this calibre in charge? Full Story
By: Chris Mullen, Gold-Seeker.com - 19 September, 2016
Gold gained $7.16 to $1318.06 in Asia before it drifted back lower in London and New York, but it still ended with a gain of 0.18%. Silver rose to as high as $19.298 and ended with a gain of 2.08%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 September, 2016
With Shanghai back in business we see it registered the purchase into the SPDR gold ETF and took the price higher. On the surface it looked like Shanghai was walking its own road after the holidays, but with the SPDR having to find the gold in London today to supply the Friday’s buying we feel that Shanghai was fulfilling its role in the 24-hour global gold market. Full Story
The risks that a ‘hard’ Brexit will have for Ireland has been outlined by economist Dan O’Brien. Having once worked for the European Commission as the EU mission’s economic and political affairs officer for Malta and having worked on a free trade deal, his opinions are worth noting. Full Story
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