By: Chris Mullen, Gold Seeker Report - 24 November, 2017
Gold jumped up to $1293.40 in holiday thinned trade yesterday before it drifted back to $1286.10 in London today, but it then bounced back higher in New York and ended with a loss of just 0.27%. Silver slipped to as low as $16.985 and ended with a loss of 0.64%. Full Story
– FOMC minutes show uncertainty and concern about markets are affecting officials’ decision-making – Officials were cautious when evaluating market conditions and the ‘damaging effects on the economy’ – Worry about ‘potential buildup of financial imbalances’ and a sharp reversal in asset prices’ – Members seem oblivious to impact of inflation on households and savings – Physical gold and silver remain the only assets for real diversification and safety Full Story
By: Chris Mullen, Gold Seeker Report - 22 November, 2017
Gold saw only modest gains in Asia and London, but it then climbed steadily higher in New York and ended near its late session high of $1294.50 with a gain of 0.91%. Silver rose to as high as $17.162 and ended with a gain of 1.12%. Full Story
– Geopolitical risk highest “in four decades” should push gold higher – Citi – Elections, political and macroeconomic crises and war lead to gold investment – Political uncertainty in Germany means “gold likely to remain in good demand as a safe haven” say Commerzbank – “There has rarely been such political uncertainty in Germany at any time in the country’s post-war history” – Commerzbank – Reduce counter party risk: own safe haven allocated and segregated gold Full Story
It will be a technical trade today and till Monday. Moves will be big and two way. Investors will not be able to sleep on their investments. It should be a day trader’s paradise till Monday. Copper, industrial metals and crude oil are looking bullish at the moment. Gold and silver are in anything can happen zone. Short term hot money is still into bitcoin and crypto currencies. Full Story
By: Chris Mullen, Gold Seeker Report - 21 November, 2017
Gold gained $4 to $1281.30 in Asia before it dropped back to $1276.30 in London, but it then jumped up to $1284.70 in New York and ended with a gain of 0.2%. Silver rose to as high as $17.051 and ended with a gain of 0.12%. Full Story
– Gold versus Bitcoin: The pro-gold argument takes shape – Why cryptocurrencies will not replace gold as a store of value – Similarities between crypto and gold but that does not make them substitutes – Gold remains a highly liquid market, cryptocurrencies continue to be fragmented and difficult to spend – Bitcoin does not make it an effective hedge against stocks Full Story
Disappointed is the word. Yes gold and silver fell as investors switched to bitcoin. In the short term the inverse correlation between gold and bitcoin will continue. This failure of gold to break past $1300 will result in more and shorter selling at higher prices. Silver continues to range trade. It will break free from the $1660-$1740 trading range and form a new range very soon. Political issues from the Eurozone failed to impact the euro as investors focused on economic fundamentals. News will be the key. Full Story
By: Chris Mullen, Gold Seeker Report - 20 November, 2017
Gold fell throughout most of the morning in New York and ended near its early afternoon low of $1275.10 with a loss of 1.28%. Silver slipped to as low as $16.847 and ended with a loss of 2.03%. Full Story
– Silver remains severely under owned and under valued asset – Entire silver market worth tiny $100 billion shown in one tiny square – “All of the World’s Money and Markets in One Visualization” – Must see ‘Money and Markets’ infographic shows relative size of key markets: silver bullion, gold bullion, cryptocurrencies/ bitcoin, largest companies, 50 richest people, Fed balance sheet, currency, stocks, property, cash, debt and derivatives – Small allocation by investors and world’s richest will see silver surge like bitcoin Full Story
I have seen very big moves in global financial markets in “Thanksgiving week”. I will be cautious this week. Silver gets the best week to rise and zoom. I expect short covering with every rise in gold prices. Speculation that some hedge funds are exiting crude oil long positions is preventing the rise. A strong US economy implies more guzzle for fuel during holidays. Full Story
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