By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 January, 2014
New York saw gold jump to $1,262 from $1,237 before closing at $1,259. Asia held it slightly higher ahead of the opening in London. The dollar traded at $1.3686 somewhat weaker than yesterday. London traded it up until the Fixing, which was set at $1,259.25 up $15.00 on Thursday. In the euro, it Fixed at €920.437 up €7.561 reflecting a weaker dollar which stood at $1.3730, down a cent. The Fix was set higher than the market was trading showing strong demand. Ahead of the opening in New York gold stood at $1,271.10 and in the euro at €925.78. Full Story
Speculation the U.S. Fed will again cut stimulus next week and that higher gold prices will limit physical demand is being ignored. Gold shot up yesterday on poor U.S jobs data and after murmurings that the punitive taxes on gold in India may be reduced. Congress party chief Sonia Gandhi has asked the government to review tough import restrictions on gold, which include a record 10% import duty. Full Story
By: Bridgitte Anderson & Peter Spina, Cambridge House Live - 23 January, 2014
Peter Spina, the Founder and CEO of GoldSeek.com, chats with Cambridge House Live's Bridgitte Anderson about China's unstoppable march to the top of the global pecking order, where he believes gold is going price-wise, and what investors can expect in 2014. Full Story
Gold and silver are looking bearish at the moment and need to trade over $1230 and $19.60 to prevent another wave of selling. There will be some mild US economic data today. Buy stop losses will be triggered if gold and silver fall either in UK session or US session. Full Story
So let me stress again: This is still a very dangerous market. The manipulation has not ended. Wait till the next daily cycle bottom before jumping into the sector. That bottom has to hold above the Dec. 31 low, and the only way it's going to do that is if gold can get above $1268 before this cycle tops. That means it's going to have to fight off the continued manipulation that's holding it down. Full Story
Should Gold breakout of the channel with some force behind it, there will be the big test at the next level of trendline resistance where the second white arrow is located on the Daily chart above. Should Gold breakout there, the path of least resistance will be higher in the Daily timeframe. And those who ignore the path of least resistance don't tend to do well if they keep that up for long. Full Story
By: Julian D. W. Phillips, Gold Forecaster - Global Watch - 22 January, 2014
Yesterday saw no sales from the SPDR gold ETF [GLD] or the Gold Trust gold ETFs leaving their respective holdings at 797.054 tonnes and 161.37 tonnes. We are watching carefully to see which way buying or selling goes as this is having a disproportionate influence on the gold price in the States. Full Story
By: Julian D. W. Phillips, Gold Forecaster - Global Watch - 21 January, 2014
In this context we need to see how this contributes to the big picture of China’s arrival center stage in the world. China’s aim is eventually to stand alone without the dollar. How big is this story? In the past the developed world took 80% of global income. In the next six years this will drop to 35% with the emerging world taking 65%. The turbulence that accompanies this change favors gold. Full Story
There are no major US economic data releases today or tomorrow. It will be a technical trade with demand from India and China as the key factors. Traders will start to take positions for next week's Federal reserve meeting. Next week’s FOMC meeting is the last meeting for outgoing Federal reserve president Ben Bernanke. Once again the US growth outlook and the US interest rate outlook will be the key. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 January, 2014
On Friday the gold price in New York closed higher at $1,254 with Asia lifting it $1.2 higher to $1,256. The dollar was stronger at $1.3556: €1. In London the gold price was Fixed at $1,254.75 up $13.75 on Friday. In the euro, it Fixed at €925.878 up €13.246. Ahead of the opening in New York gold stood at $1,254.90 and in the euro at €925.99. The dollar stood at $1.3551: €1 Full Story
US markets are closed today. There are no major US economic data releases till Friday. It will be a technical trade till Friday for commodity markets and forex markets. This also means that gold and silver should continue their bullish journey. Copper and crude oil will find buyers on dips. Full Story
A great week for the precious metals as gold and silver slowly chopped their way higher until Friday which saw a nice move that will take them soon to resistance. Full Story
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