By: Chris Mullen, Gold-Seeker.com - 24 March, 2017
Gold fell $5.20 to $1241.00 in Asia, but it then chopped back higher for most of the rest of trade and ended near its late session high of $1251.80 with a gain of 0.14%. Silver rose to as high as $17.776 and ended with a gain of 0.91%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 March, 2017
The Healthcare Bill is not just about healthcare or about Donald Trump but about the ability of the Republican majority to turn what has been political gridlock for the last two terms into decisive government. If the bill fails to pass today, it implies that despite the hype about President Trump’s ‘get things done’ ability, the government remains in political gridlock, with the majority disunited. That implies a lower dollar, lower equities [where the rise since his election accounts for 14% of the rise in the Dow] and higher gold. Full Story
Gold ETFs are rising in popularity due to their convenience. They’re easy to trade, there’s no need to store anything, and no one is going to break into your house to steal your GLD shares. But there are a lot of hidden dangers inherent in the structure and operation of gold ETFs that few investors are aware of—and these risks are more pronounced than ever, as the threat of another financial crisis is always around the corner. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 March, 2017
Gold gained $5.30 to $1253.10 at about 9AM EST before it fell back to $1242.90 in early afternoon trade and then bounced back higher at times, but it still ended with a loss of 0.13%. Silver rose to as high as $17.68 before it also chopped back lower, but it still ended with a gain of 0.29%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 March, 2017
You will note how Shanghai prices have been steady after jumping with London and New York’s ‘discounts’ narrowing a great deal. We attribute this to arbitrageurs or western dealers making sure their prices are not out of line. Why do we stress this? It shows the lessening impact of western news items and COMEX actions. It ensures that gold prices are more currency related. We believe it is already reducing the volatility in global gold markets. Full Story
– Gold prices higher seven days in row – best gains since Brexit – Gold spikes to three week high after terrorist attack in London – Global stocks fell yesterday after attack in London – Stocks resilient today and start day flat – Gold rallies 4.1% in recent days as stock prices falter – Sterling fell yesterday but flat today Full Story
By: Chris Mullen, Gold-Seeker.com - 22 March, 2017
Gold gained $4.40 to $1249.00 in Asia before it fell back to unchanged at $1244.60 in London, but it then jumped to as high as $1251.30 in New York and ended with a gain of 0.26%. Silver rose to as high as $17.586 and ended with a gain of 0.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 March, 2017
The gold price in Shanghai jumped 2.50 Yuan today, but the rise was greater when translated into the weak dollar. As you can see, London and New York are trying to catch up with Shanghai as the price differentials narrow. That’s why the concept of a ‘Chinese gold price premium’ distorts the reality of what’s happening. China is no longer a distant sub-market of London, while India continues to be so, as that country with its gold taxes and political interference cannot function nearly as well as Shanghai with its highly developed, huge, physical market. Full Story
– Gold ‘Mining Zombie Apocalypse’ caused miners to slash exploration budgets – Decline in gold production at world’s top 10 gold mining companies – Byron King – “No new big mines being built in the world today” – Glencore CEO Glasenberg – Primary global gold output declined in 2016 – Thomson Reuters via Mining.com – 2016 was first year of fall in mine production since 2008 Full Story
By: Chris Mullen, Gold-Seeker.com - 21 March, 2017
Gold fell $7.80 to $1226.80 in Asia, but it then jumped to as high as $1247.60 in New York and ended with a gain of 0.81%. Silver surged to as high as $17.592 and ended with a gain of 0.57%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 March, 2017
Turning back to the G-20 statement we note that the G-20 maintained its call for competitive devaluations and FX market instability to be avoided. While it goes against brazen devaluations for the sake of gaining competitive advantage, protectionism will alter trade balances, which will affect exchange rates. Behind such international plays, nations do attempt to keep their exchange rates low and lower. So while brazen currency wars are to be avoided, they will continue indirectly. Full Story
– Silver just 1/70th the price of gold – Silver at $17.50 per ounce set to rise “faster than gold” – Silver Eagles (1 oz) buying jumps to 715,000 this week – “Supply may drop following mine closures” – Standard Chartered – Industrial demand “will remain strong” – CPM Group – Silver is substantially undervalued versus gold – Gold silver ratio to fall back below 30 Full Story
By: Chris Mullen, Gold-Seeker.com - 20 March, 2017
Gold gained $6.60 to $1235.40 in Asia before it pared down to $1230.30 in London, but it then rallied back higher in New York and ended with a gain of 0.47%. Silver rose to as high as $17.457 and ended with a gain of 0.23%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 March, 2017
The price differential between the three centers is widening again as China once again is leading the way on gold prices. But you will note that Chinese gold prices have barely changed in the last two days leading to the conclusion that Shanghai is making the gold price but exchange rate changes are changing prices in other currencies. The dollar continues to weaken taking gold prices higher there. Full Story
– The cost of buying and selling gold – How to buy gold on the cheap – How to avoid paying capital gains tax (CGT) on your gold – Open an account with one of the online bullion dealers – the likes of GoldMoney, GoldCore or Bullion Vault – Gold Sovereigns and Gold Britannias make for a considerable saving on cost because of the CGT exemption Full Story
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