GOLD and silver prices whipped sharply Friday lunchtime in London, as new US jobs data matched analyst forecasts with a 175,000 rise in Non-Farm Payrolls for May and a slight rise in the jobless rate to 7.6%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 June, 2013
New York closed at $1,412.00 up nearly $10, yesterday, after which Asia held it there as did London. It then Fixed lower at $1,410.00 up $10.5 and in the euro at €1,065.116 down nearly €1 while the euro was stronger at €1: $1.3238. Ahead of New York’s opening gold stood at $1,411.05 and in the euro at €1,064.26. Full Story
Gold is mixed today after two consecutive daily rises. Gold futures in Shanghai jumped 1.5% at the open rising to 283.09 yuan per gramme prior to determined selling that capped the rise. Gold looks set to have a third week of higher closes and is heading for the longest run of weekly advances since March. Gold is up 1.6% in U.S. dollars and 2.3% in Australian dollars due to concerns about the outlook for both the U.S. and Australian economies. Full Story
A weaker US dollar, technical breakout and more reasons to believe that there will not an early withdrawal from QE than markets anticipated (apart from unabated physical gold demand across Asia) resulted in gold and silver rise. Technically gold and silver are bullish. Irrespective of what you hear or read on the internet, these prices and a further fall in gold and silver are great long term opportunity for investment in gold and silver. Full Story
Gold fell $10.57 to $1391.53 in Asia before it climbed up to $1406.80 in London and then dropped back down to $1395.76 at about 9AM EST, but it then climbed to as high as $1423.22 in early afternoon New York trade and ended with a gain of 0.71%. Silver slipped to $22.32 in Asia, but it then rose to as high as $22.887 in New York and ended with a gain of 0.71%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 June, 2013
New York closed at $1,402.10 up nearly $4, yesterday, after which Asia took it down to $1,397, before London lifted it to $1,402.50. It then Fixed lower at $1,399.50 up $3 and in the euro at €1,066.692 down nearly €2 while the euro was stronger at €1: $1.3112. Ahead of New York’s opening gold stood at $1,401.40 and in the euro at €1,068.49. Full Story
The WHOLESALE price of gold flipped yet again either side of $1400 on Thursday in what dealers called "choppy" trade ahead of tomorrow's much-anticipated US jobs data for May. Asian stock markets followed Wall Street's overnight loss to finish lower, but European equities rallied as major government bonds held flat. Full Story
India should monetise their huge gold stockpiles of over 20,000 metric tonnes according to the World Gold Council (WGC) as reported by Bloomberg this morning. “In the long term gold could be monetized as a financial asset," Aram Shishmanian, the CEO of the WGC said in India overnight. The World Gold Council has approached the Reserve Bank of India (RBI) to work with it so that bullion could be used as a financial asset, rather than just a physical asset. Full Story
Gold climbed $10.01 to $1408.21 in Asia before it fell back to $1395.20 in London and then climbed to as high as $1410.42 in New York, but it then fell back to $1396.60 at about 1:15PM EST and ended with a gain of just 0.28%. Silver slipped to $22.345 in London before it rose to as high as $22.739 in New York, but it then fell back off in the last five hours of trade and ended with a loss of 0.09%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 June, 2013
New York closed at $1,398.20 down $13.80, yesterday, after which Asia took it up to $1,407, before London held let it slip below $1,400. It then Fixed lower at $1,396.50 down $8.75 and in the euro at €1,068.89 down €5.80 while the euro was stronger at €1: $1.3065. Ahead of New York’s opening gold stood at $1,398.75 and in the euro at €1,070.72. Full Story
GOLD BULLION traded for London delivery rose back through $1400 for the fifth day running on Wednesday morning, rising as the US Dollar slipped following weaker-than-expected jobs data. Gold priced in the Euro ticked higher to €1075 per ounce, but was unchanged for the week so far in terms of Pounds Sterling below £914. Full Story
Gold dropped down to as low as $1388.89 at about 10:50AM ET before it bounced back higher midday, but it still ended with a loss of 0.98%. Silver slipped to as low as $22.28 and ended with a loss of 0.92%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 June, 2013
New York closed at $1,412.00 up $27.10 yesterday after which Asia took it down to $1,405, before London held it there. It then Fixed lower at $1,405.25 up $8.50 and in the euro at €1,074.697 €2 while the euro was stronger at €1: $1.3076. Ahead of New York’s opening gold stood at $1,397.80 and in the euro at €1,067.59. Full Story
The WHOLESALE gold price slipped back below $1400 per ounce Tuesday morning in London as world stock markets rose and the Indian government tightened restrictions on gold importers once again. After Monday's weak US manufacturing data gave gold what Commerzbank calls "sufficient fuel" to touch the $1415 level – identified by some technical analysts as key resistance – the gold price dropped $8 in 15 minutes mid-morning. Full Story
Gold inched down today after yesterday’s 2% gain. Gold was higher in Australian dollars after the Aussie dollar fell on concerns about the Australian economy. Monday’s economic data showed U.S. manufacturing activity had slowed to the lowest level in almost 4 years. The still fragile nature of the U.S. economy will support gold. Full Story
The contraction in the US manufacturing ISM numbers in May suggest that Federal Reserve will delay its withdrawal from quantitative easing into next year. The reconstruction in Oklahoma after devastating hurricane and floods, reconstruction related demand in Easter Europe after worst floods in decades should create more employment in USA and Eastern Europe. Full Story
Gold climbed to $1401.64 by a little after 4AM EST before it fell back to $1390.83 in the next six hours of trade, but it then climbed to as high as $1416.69 in New York and ended with a gain of 1.96%. Silver surged to as high as $22.952 and ended with a gain of 2.57%. Full Story
While gold is showing some positive initial action, the market could have been undermined by ongoing talk of further Indian government moves to restrict or hinder gold imports. Last week, the gold market saw official comments that the Indian government would wait until they had a full month's gold import data before making a decision on increasing the gold import tax rate or implementing additional gold loan restrictions. With the end of May and widespread talk of soaring Indian gold import activity, the trade is now bracing for potentially bearish gold import/loan rules from Indian officials. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 June, 2013
New York closed at $1,384.90 down $28.90 on Friday after which Asia lifted it to $1,398, before London took it over 1,400. It then Fixed lower at $1,396.75 and in the euro at €1,072.61 down €13 while the euro was €1: $1.3022. Ahead of New York’s opening gold stood at $1,395.50 and in the euro at €1,073.38. Full Story
LONDON PRICES to buy gold and silver rose in volatile trade Monday morning, recovering Friday evening's late losses as Asian and European stock markets fell hard. Far Eastern premiums over and above international prices continued to ease back, according to wholesale dealers. Full Story
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
