By: Chris Mullen, Gold-Seeker.com - 24 August, 2012
Gold dropped $5.45 to $1662.55 in Asia, but it then rose to as high as $1673.36 in New York and ended with a gain of 0.05%. Silver climbed to as high as $30.712 and ended with a gain of 0.52%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 August, 2012
New York gold closed at $1,669 up $14.60 on the day. Asia and London took it up slightly to $1,670 ahead of the Fix with the euro slightly weaker at €1: $1.2547. Gold continues its run up against all currencies. Gold was Fixed in London at $1,666.50 and in the euro it was Fixed at €1,329.159. After the Fix and just ahead of New York’s opening, gold was trying to rise again to $1,667.75 in the middle and in the euro to €1,330.47. Full Story
SPOT MARKET gold bullion prices hovered just below $1670 an ounce for most of Friday morning's London trading, a few Dollars below yesterday's four-month high. Stock markets ticked lower and US Treasuries gained, as analysts continued to speculate on the prospects for more quantitative easing from the US Federal Reserve. Full Story
The use of the term “perfect storm” by market participants is a bit clichéd and over used at this stage however it is appropriate with regard to looking at the fundamentals driving the precious metal markets and particularly gold and silver. Full Story
This has been spectacular week for gold, silver and Nickel. There can be profit taking any time. Fundamentally there is no reason for base metals and energies to rise as Europe, UK and china are in a slowdown mode. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 August, 2012
Gold climbed $12.51 to $1666.91 in Asia before it fell back to $1656.90 by a little before 8AM EST, but it then rose to as high as $1674.78 in late morning New York trade and ended with a gain of 0.88%. Silver surged to as high as $30.81 and ended with a gain of 2.28%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 August, 2012
New York gold closed at $1,654.40 up $17.10 on the day. Asia and London took it higher to $1,666.73 with the euro 92 points stronger at €1: $1.2567. This is gold running up against all currencies but with the euro now. Gold was Fixed in London at $1,662.50 and in the euro it was Fixed at €1,324.068 up €8 on yesterday’s Fix. After the Fix and just ahead of New York’s opening, gold pulled back to $1,658.70 in the middle and in the euro to €1,321.57. Full Story
WHOLESALE MARKET gold prices ticked lower in London on Thursday from the highest Dollar and Euro levels since end-April after rising again in Asian trade. Wednesday's minutes from the US Federal Reserve's latest policy meeting "ignited" the gold investment market, according to one trader, with buy-stops triggered at $1650 according to another. Full Story
Year to date, despite much negative sentiment towards gold, dollar gold is up nearly 6%. In January the yellow metal surged nearly 15% after the US Fed said it could unveil more stimulus and expected to keep interest rates near zero until 2014. Similar moves may be seen again soon given the fundamentals. Full Story
Gold, silver and copper rose on speculation that central banks in the U.S. and China will ease monetary policy to boost their economies. Minutes of the U.S. Federal Reserve’s last meeting showed many members favored more stimulus unless the pace of the economic recovery picks up. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 August, 2012
Gold climbed to $1645.01 in Asia before it fell to see a slight loss at $1634.62 just before FOMC Minutes were released, but it then jumped to as high as $1655.70 in the last couple of hours of trade and ended with a gain of 1.04%. Silver rose to $29.638 in Asia before it fell back to about unchanged in London, but it then surged to as high as $29.91 in afternoon New York trade and ended with a gain of 1.91%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 August, 2012
New York gold closed at $1,637.30 up $16.60 on the day. Asia and London took it higher to $1,644 with the euro only 20 points stronger at €1: $1.2470. This is gold running up against all currencies and breaking free from the euro in the process. Gold was Fixed in London at $1,640.50 and in the euro it was Fixed at €1,315.874 up €7 on yesterday’s Fix. Full Story
SPOT MARKET gold prices hit their highest level since early May Wednesday, rising to $1645 an ounce during this morning's London trading. Silver prices also gained, rising to $29.70 per ounce – their highest level since early June. By contrast, European stock markets ticked lower, while commodities were broadly flat and US Treasuries gained, ahead of the publication of Federal Reserve policy meeting minutes later today. Full Story
Gold briefly popped above the 200 day moving average at $1,643/oz this morning and remains near the 3 ½ month high set in the prior session. A break above the 200 day moving average, after similar breaks of the 50 and 100 day moving averages, will be bullish technically (see chart). Full Story
The rise in gold and silver prices is mainly due to the rise in the euro against the US dollar and other major currencies. This has resulted in a technical break out and further contributed to the price rise. The euro is gaining on expectation of some solution on Greece and Spain on Thursday and the weekend. We believe that gold and silver can form a short term top between Thursday and Friday. Thereafter it will be dependent on news from the eurozone. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 August, 2012
Gold jumped to as high as $1641.25 in early New York trade before it drifted back lower into the close, but it still ended with a gain of 1.02%. Silver surged to as high as $29.501 and ended with a gain of 1.6%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 August, 2012
New York gold closed at $1,620.70 up $5 on the day. Asia and London initially took it to $1,622 but when the euro moved stronger to €1: $1.2459 up from €1: $1.2360 gold started to rise after the Fix which was set at $1,624.00. In the euro it was Fixed at €1,308.939 slightly down on yesterday. After the Fix and just ahead of New York’s opening, gold ran up to $1,636 in the middle and in the euro to €1,313.42. Full Story
SPOT MARKET prices to buy silver rose to their highest level in two months Tuesday, hitting $29.09 per ounce– 3.5% up on last week's close – after extending gains from yesterday's trading. "This changes [silver's] posture to bullish," says the latest technical analysis note from bullion bank Scotia Mocatta. Full Story
Technically, gold needs to close above the 200 DMA. Should this happen we could see quite significant short covering and more speculative elements on the COMEX may sense blood and come in on the long side in a more aggressive manner thereby propelling gold well above its recent trading range. Full Story
Indian investors are getting a bit wary on their gold investments. (Particularly gold ETF investments). Indian gold prices have been range bound between Rs.29,200 and Rs.30,700 since April. Based on investor queries which we receive we believe that if Indian gold prices do not start to rise in the next two months to three months (By November 2012), there will be a fall in total gold ETF investments in India. Investors will book profit on their gold ETF investments and may switch to equities and other investments. Full Story
By: Chris Mullen, Gold-Seeker.com - 20 August, 2012
Gold edged up to $1619.91 in Asia before it fell back to $1610.25 at about 8:30AM EST, but it then rallied back higher in New York and ended near its early afternoon high of $1622.40 with a gain of 0.3%. Silver slipped back to $27.927 before it also rallied back higher in New York and ended near its late session high of $28.83 with a gain of 2.64%. Full Story
This will be a quick post today discussing what I expect over the next 2 years, and the inter-market relationship between the currency markets, CRB and stocks. Pay particular attention to the inverse relationship between the dollar index and the CRB; notice how the CRB almost immediately began moving down into its three year cycle low once the dollar formed its three year cycle bottom in May 2011. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 August, 2012
New York gold closed at $1,615.90 almost the same as the day before. Asia and London kept it there in the London day. Gold was Fixed at $1,615.25 up 15 cents on Friday’ p.m. Fix. In the euro it was Fixed at €1,306.837 down €5 on Friday’s p.m. Fix, while the euro stood at €1: $1.2360. Ahead of New York’s opening, gold was steady at $1,615.00 in the middle and in the euro at €1,310.55. Full Story
SPOT MARKET gold bullion prices dipped back below $1615 an ounce during Monday morning's London trading, the level at which they ended last week. "The 11 week moving average comes in at $1601," say technical analysts at bullion bank Scotia Mocatta, pointing out that gold has now ended the week above that level for four weeks in a row. Full Story
Some gold investors are still waiting on clear signals from central banks before re-entering the market. Prudent investors and those with a more long term time horizon continue to buy or keep an allocation to gold within a portfolio. Although US gold futures and options fell for a second week, the SPDR Gold Trust, the world’s largest gold backed ETF, climbed 0.9% as of August 17th its highest since July 9th. Full Story
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