Gold gained $18.60 to $1270.30 in early New York and before it fell all of the way back to $1251.40 by midafternoon, but then bounced back higher into the close and ended with a gain of 0.23%. Silver rose to as high as $18.459 before it dropped back to $17.872 and then also rallied back higher in late trade, but it still ended with a loss of 1.32%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 April, 2017
Overnight, the U.S. struck Syria with cruise missiles on President Trump’s order. The global political situation has degenerated, at least for now, causing gold to jump through the 200-day average. Will this hold? At first glance, we would think not, as it is not a cause for war between Russia and the U.S. simply a punitive strike, in response to the use of chemical weapons in what is more than a civil war in Syria. It is, to us, a long term middle east wide religious war between Shia [Assad/Iran, etc] and Sunni [rebels/Saudis, etc] sides of Islam set to continue for the foreseeable future. Full Story
– Gold silver oil spike after U.S. bombs Syria – Gold and silver spike 1% as oil rises 1.4% – Gold breaks 200 day moving average, 4th week of gains – Stocks fall after U.S. strikes in Syria rattle markets – U.S. missiles hit airbase; Lavrov says no Russian casualties; Russia deploys cruise missile frigate to Syria Full Story
Gold chopped down to $1250.00 in late morning New York trade before it bounced back higher at times, but it still ended with a loss of 0.35%. Silver slipped to as low as $18.162 and ended with a loss of 0.38%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 April, 2017
In Europe, Mario Draghi cautiously implied that the fear of inflation has passed and while risks remain to the downside he was more confident that growth across the E.U. economy is becoming positive. To us there are so many continuing risks in Europe that one needs to continue to question the future of the E.U. economy. What we did find somewhat disturbing in what he said, was that the more positive shape of the economy was due to two factors, monetary policy and the oil price fall. Full Story
Schroders is one of the leading investment managers in the world. It is a global asset management company, founded in 1804 and based in the UK. The company employs over 4,100 people worldwide across 37 offices in 27 different countries around Europe, America, Asia, Africa and the Middle East and manages over £400 billion in assets. Full Story
Gold edged up to $1257.20 in Asia before it dropped back to $1243.90 in midmorning New York trade, but it then rallied back higher in the last couple of hours of trade and ended with a loss of just 0.02%. Silver slipped to as low $18.143 and ended with a loss of just 0.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 April, 2017
The gold price is like a mirror for the different currencies and their financial systems. It is an inefficient market in that it does not reflect such on a day to day basis. It reflects the situation over time and has to contend with all sorts of interference from speculators, banks and governments. But, over time, it is an unbiased, accurate reflection of a nation’s financial condition through its exchange rate against gold. Full Story
– Heraeus gold and precious metals refinery buys Swiss refinery Argor-Heraeus – Heraeus reported to have paid “few hundred million euros for the remaining Argor shares” – Argor-Heraeus “goodwill” alone reported to have been valued at over “half a billion Swiss francs” – Global technology and precious metals refiner Heraeus will acquire stakes from Commerzbank and Austrian Mint – Heraeus involved with Argor-Heraeus since 1986 – Swiss refinery Argor Heraeus once fully-owned by UBS Full Story
Gold gained $8 to $1261.20 by a little after 8AM EST before it dropped down to $1254.10 by midmorning, but it then bounced back higher into the close and ended with a gain of 0.25%. Silver rose to as high as $18.409 and ended with a gain of 0.49%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 April, 2017
With Shanghai closed yesterday and today, the gold price jumped up and away from support into the higher $1,250’s this morning. This was primarily driven by a nearly four and a half tonne purchase into the gold ETF. So many times, in the past, we have seen such points of inflection result in ‘bear’ raids. But this time it was the bulls which came in. And they came in with physical demand. Full Story
Should the Fed’s recent shift in rate-hike urgency prove to be motivated by concern for stretched valuations of U.S. financial assets, as we suspect, it will be interesting to see just how far the Fed will go to press its message. We have long suggested the Fed’s reticence to raise rates has reflected concern for the instability of excessive U.S. debt loads, and now the Fed may finally be forced to raise rates out of concern for the instability of excessive U.S. equity valuations. Our long-term expectation of a “rock and a hard place” may be the immediate reality in which the Fed now finds itself. Full Story
Gold fell $2.60 to $1244.70 in London, but it then climbed to as high as $1253.60 in New York and ended with a gain of 0.47%. Silver rose to as high as $18.258 and ended with a gain of 0.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 April, 2017
More importantly, gold prices today will not see any Chinese demand. As a result today’s prices will not reflect global demand, only London and New York. While the chances of a fall in the gold price globally is higher for today and tomorrow, Wednesday should see Chinese demand return, if that happens. Full Story
– Gold, silver two of the best performing assets in the first quarter of 2017 with gains of 8% and 14% respectively – Gold outperforms benchmarks – SPX 500 up 6%, MSCI (All Country World Index) up 6.4% (see tables) – Nasdaq and German DAX rise 11.8% and 7.6% – Silver best performing currency in quarter Full Story
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