By: Chris Mullen, Gold-Seeker.com - 24 April, 2015
Gold edged up to $1195.88 in late Asian trade, but it then fell back off in London and New York and ended near its early afternoon low of $1175.24 with a loss of 1.35%. Silver slipped to as low as $15.611 and ended with a loss of 1.07%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 April, 2015
New York closed at $1,194.70 up $7.90 on Thursday in NY. Asia held it there before the LBMA Gold price was set at $1,192.15 up $4.90. The euro equivalent stood at €1,099.87 down €5.84 while the dollar was stronger at $1.0834 against yesterday’s $1.0742. Ahead of New York’s opening, gold was trading lower in London at $1,192.30 and in the euro at €1,101.74. Full Story
- UK economy a ’timebomb’ and will explode after election – Albert Edwards - Telegraph warns of “Lehman Moment” stemming from possible election chaos - Currency traders view pound as being particularly vulnerable - Latest data shows UK poised to slip into deflation for the first time since 1960 - Polls place Labour and Tories neck and neck as election looms - Hung parliament may force either side to enter coalition with potentially disliked partners - Outright majority for either side would also lead to further uncertainty - Political uncertainty may impact sterling and UK assets - UK has massive debt and vulnerable to Eurozone debt crisis Full Story
By: Chris Mullen, Gold-Seeker.com - 23 April, 2015
Gold traded mostly slightly higher in Asia and London before it dropped back to $1186.35 at about 10AM EST, but it then climbed back higher for most of the rest of trade and ended near its early afternoon high of $1197.96 with a gain of 0.67%. Silver rose to $15.958 in London before it fell back to $15.755 at about 10AM EST, but it then rallied back higher into the close and ended with a gain of 0.63%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 April, 2015
New York closed at $1,186.80 down $15.00 on Wednesday in NY. Asia again lifted the gold price to $1,189 and London held it there. The LBMA Gold price was set at $1,187.75 down $14.65. The euro equivalent stood at €1,105.71 down €14.58 while the dollar was weaker at $1.0742 against yesterday’s $1.0784. Ahead of New York’s opening, gold was trading lower in London at $1,190.20 and in the euro at €1,107.42. Full Story
- Saudi operation in Yemen enters new phase as U.S. and Iranian Navies gather in the Gulf of Aden - Saudi’s blame Houthi rebels and Iran for Saudi bombardment of Yemen, supported by US - Chinese President Xi calls Saudi King Salman urging speedy resolution to crisis, Chinese media take neutral stance - Russian media describes Saudi operation as ethnic cleansing and Iranian media emphasise that Saudi is operating without a UN mandate to restore their ally, the former President, to power in Yemen Full Story
By: Chris Mullen, Gold-Seeker.com - 22 April, 2015
Gold bumped up to $1204.68 in Asia before it fell back to $1185.87 by late morning in New York and then bounced back higher into early afternoon, but it then drifted back lower into the close and ended with a loss of 1.25%. Silver slipped to as low as $15.70 and ended with a loss of 1.37%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 April, 2015
New York closed at $1,1201.80 up $5.90 on Tuesday in NY. Asia held it there and London tried to take it down as the dollar strengthened. The LBMA Gold price was set at $1,202.40 up $4.70. The euro equivalent stood at €1,120.29 down €5.36 while the dollar was stronger at $1.0784 against yesterday’s $1.0689. Ahead of New York’s opening, gold was trading lower in London at $1,202.80 and in the euro at €1,117.22. Full Story
- Enter the Dragon – China Stealthily Accumulated Massive Gold Hoard - IMF Seek Answers On China’s Mysterious Gold Reserves according to Bloomberg - Major demand issue and bullish support for gold rarely covered in mainstream - China may disclose its gold reserves by October in a bid to have the Yuan included in SDR currency-basket - China has not made its gold holdings public since 2009 - Bloomberg estimates that reserves may be as high as 3510 tonnes, 2nd largest in the world Full Story
By: Chris Mullen, Gold-Seeker.com - 21 April, 2015
Gold dipped $2.65 to $1193.25 in Asia before it bounced back to $1202.18 in London and then dropped back under $1195 by a little before 10AM EST, but it then rose to a new session high of $1204.06 by early afternoon in New York and ended with a gain of 0.49%. Silver rose to as high as $16.206 and ended with a gain of 0.13%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 April, 2015
New York closed at $1,195.90 down $8.60 on Monday in NY. Asia held it there then London started to lift it ahead of the LBMA Gold Price. The LBMA Gold price was set at $1,197.70 down $5.55. The euro equivalent stood at €1,120.29 up €1.46 against a weaker $: € rate of $1.0689 against yesterday’s $1.0753. Ahead of New York’s opening, gold was trading lower in London at $1,198.70 and in the euro at €1,122.22. Full Story
Russia increased its gold holdings by one million ounces in March, bringing its total reserves to nearly 40 million ounces or 1,238 metric tonnes. The Russian one million ounce gold purchase is a large one even by Russian standards as in recent years they have consistently been buying roughly 300,000 ounces per month. Full Story
By: Chintan Karnani, Insignia Consultants - 21 April, 2015
It seems that gold and silver traders are still not convinced whether the rise will be sustainable or not. The price movement in the commodity markets and the US dollar is an indication that traders are looking for an interest rate hike in June. We have a lot of event risk in the next three weeks: (a) FOMC meet (b) UK election result (c) US April nonfarm payrolls (d) Greece debt issue resolution in the second week of May. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 April, 2015
Gold edged up to $1208.97 in Asia before it fell back off in London, but it then bounced back higher in late New York trade and ended with a loss of just 0.71%. Silver rose to as high as $16.381 before it also fell back off and ended with a loss of 1.66%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 April, 2015
New York closed at $1,204.50 up $5.50 on Friday in NY. Asia took it up to $1,208 with London holding it there ahead of the LBMA Gold Price. The LBMA Gold price was set at $1,203.25 down $1.30. The euro equivalent stood at €1,118.83 up €7.11 against a weaker $: € rate of $1.0753 against yesterday’s $1.08355. Ahead of New York’s opening, gold was trading lower in London at $1,198.30 and in the euro at €1,115.68. Full Story
- Greece Rapidly Running Out Of Cash – Soon Must Fold To Troika Or Default - IMF Rebuff Greek Suggestion To Delay Repayments - ECB’s Draghi Warns Potential “Grexit” Puts EU In “Uncharted Waters” - Despite Threats, Greece Remains Defiant, Won’t “Budge On Red Lines” - ECB Considering A “Second Currency” For Greece Full Story
By: Chintan Karnani, Insignia Consultants - 20 April, 2015
There are no big US economic data releases this week. It will be a technical trade with Asian demand as the key. Next week is the FOMC meet. There will be profit taking in short euro positions which should result in higher gold and silver prices. Apart from Greece, the FOMC meet will be the key driver for the rest of the month. Full Story
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