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Weekly Archives

By: Chris Mullen, - 24 February, 2017

Gold gained $11.30 to $1260.10 at about 9AM EST before it nearly erased its entire advance in the next hour of trade, but it then chopped back higher into the close and ended with a gain of 0.63%. Silver rose to as high as $18.407 and ended with a gain of 0.94%. Full Story

By: - 24 February, 2017

COT Gold, Silver and US Dollar Index Report - February 24, 2017 Full Story

By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 February, 2017

Bearing in mind that the prices of the 23rd [yesterday] above are the prices ahead of London’s opening and well ahead of New York’s opening. As you can see both London and New York were dragged higher by Shanghai. Looking at Shanghai’s closing prices today [not on the chart as they have not yet been officially released, we are looking at prices over $1,260. If London and New York continue to follow Shanghai, which we believe will happen, then both London and New York will see good rises later today. Full Story

By: GoldCore - 24 February, 2017

Gold up 1.5% in euros and dollars this week
Silver up 1.4% this week and now up 14.3% and is the best performing market YTD
Gold up 9% year to date – fourth consecutive higher weekly close and breaks resistance at $1,250/oz
Gold up 9.4% in euros year to date as Le Pen’s lead in polls widened
Gold up another 6.4% in sterling pounds year to date as ‘Hard Brexit’ looms
French and Dutch elections pose risks to Eurozone itself and the entire European Union project Full Story

By: Chris Mullen, - 23 February, 2017

Gold edged down to $1235.80 in Asia, but it then jumped to as high as $1250.90 in late morning New York trade and ended with a gain of 0.86%. Silver rose to as high as $18.217 and ended with a gain of 0.78%. Full Story

By: GoldCore - 23 February, 2017

Oscars have been dipped in 24 karat gold since 1929
If the Oscars were made of solid gold they would weigh 330 ounces
330 ounces of gold is worth $408,210 at today’s prices (nearly €400k and £330k)
Oscars cannot be sold, making them a tricky investment piece
Steven Spielberg keeps his gold Oscar with the Academy for ‘safe-keeping’ Full Story

By: Chris Mullen, - 22 February, 2017

Gold gained $4 to $1240.30 by a little before 9AM EST before it dropped back to $1231.60 in the next few hours of trade, but it then jumped back higher after the release of this afternoon’s fed minutes and ended with a gain of 0.15%. Silver rose to as high as $18.052 and ended with a gain of 0.33%. Full Story

By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 February, 2017

At the close in Shanghai today, the gold price was trading at 275.8 Yuan, which directly translates into $1,246.53. But allowing for the difference of gold being traded this equates to a price of $1,241.53. This is $5 higher than New York and $1 higher than London. We watch to see if London and New York continue to follow Shanghai or not. Full Story

By: GoldCore - 22 February, 2017

China alone consumed approximately 2,000 metric tons in 2016, or roughly 60 percent of all the new gold that was mined during the year, according to veteran mining commentator Lawrie Williams, who based his estimates on calculations made by BullionStar’s Koos Jansen. The 2,000 metric tons is a much higher figure than what analysts and the media have been telling us, but I’ve always suspected China’s annual consumption to run higher than “official” numbers. Full Story

By: Chris Mullen, - 21 February, 2017

Gold held near unchanged in holiday thinned trade yesterday before it dropped down to $1226.30 in midmorning New York trade today and then bounced back to $1238.90 in early afternoon action, but it then drifted back lower into the close and ended with a gain of just 0.06% from Friday’s close. Silver slipped to as low as $17.836 and ended with a loss of 0.11%. Full Story

By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 February, 2017

Today’s action was dollar dominated with the gold price in dollars falling and the euro price rising. With no buying or selling of U.S. based gold ETF shares the New York gold price had little reason to rise but it did. In London the gold price fell back as the dollar held higher ground. But the gold price apart from currencies, is standing still and, once again, simply reflecting exchange rate moves. Nevertheless, the fundamentals for gold are extremely strong. Full Story

By: GoldCore - 21 February, 2017

Russia gold buying returned in January with the Russian central bank buying a very large 1 million ounces or 37 metric tonnes of gold bullion. The increase in the gold reserves came after Russia did not buy a single ounce in December – a move seen as potentially a signal or an olive branch to the U.S. and the incoming Trump administration. Full Story

By: Julian D. W. Phillips, Gold Forecaster - 20 February, 2017

Alan Greenspan says that investors are back to safe havens including precious metals because there is no trust in the banking system. And he said countries cannot continue to borrow in the way that they have been signaling that quantitative easing is not working. He added: "I view gold as the primary global currency.

Alan Greenspan is not selling anything, is not given to extreme statements, but is an ex-Chairman of the U.S. Federal Reserve. Full Story

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