By: Chris Mullen, Gold Seeker Report - 7 September, 2018
Gold gained $2.60 to $1202.30 in London before it dropped down to $1193.50 at about 9AM EST and then bounced back higher into midday, but it still ended with a loss of 0.3%. Silver slipped to as low as $14.078 and ended with a loss of 0.07%. Full Story
The crisis in emerging markets deepened this week with currencies around the world collapsing in value and gold reaching new record highs in these fiat currencies. Equity indices in emerging markets have seen sharp drops and now developed markets are seeing weakness in their stock markets. It is important to consider the potential impact on the wider markets and the risk of contagion to our inter connected, indebted and vulnerable financial markets and system. Full Story
By: Chris Mullen, Gold Seeker Report - 6 September, 2018
Gold waffled near unchanged in Asia before it rose to see a $9.70 gain at $1206.70 in early New York trade and then fell back to about unchanged by midday, but it then edged back higher in afternoon trade and ended with a gain of 0.23%. Silver slipped to as low as $14.1119 and ended with a loss of 0.21%. Full Story
– “Why hedge because everything is going straight up”? – Now “is exactly the time when should hedge” as volatility in U.S. markets is low – “September is the most dangerous month of the year for equities” – Gold is an “excellent way to hedge for the longer term against the possibility that both equities and bonds go down together at some point and that is quite likely in the next 12 months… Full Story
Supply fears from Iran and Venezuela have resulted in firm crude oil. Asian demand is the key to the crude oil price and not American demand. The per capita consumption of crude oil is much lower in Asia than the USA. But the population in Asia is more than double of the USA. The weakness in currency prices in Asia and the subsequent fallout in the form of a sharp rise in the cost of living, lower demand, higher interest rates and higher inflation will result in a sharp decline in Asian crude oil consumption over the next few months. Full Story
By: Chris Mullen, Gold Seeker Report - 5 September, 2018
Gold held near unchanged in Asia before it climbed up to $1198.00 in morning New York trade and then drifted back lower at times, but it still ended with a gain of 0.3%. Silver rose to as high as $14.231 and ended with a gain of 0.21%. Full Story
– As emerging market currencies internationally collapse in value, there is a real risk of contagion in bond and currency markets – Turkish lira falls 43.6% and Argentine peso falls 51% and are respectively the 2nd worst and worst internationally traded and non pegged performing currencies in 2018 – Venezuelan bolivar has completely collapsed – Inflation is going to take off as wheat has surged 28% and oil is up 16% year to date in dollar terms Full Story
By: Chris Mullen, Gold Seeker Report - 4 September, 2018
Gold traded mostly slightly higher in holiday-thinned trade yesterday before it chopped down to as low as $1189.80 by midmorning in New York today and then bounced back higher into midday, but it still ended with a loss of 0.48% from last Friday’s close. Silver slipped to as low as $14.007 and ended with a loss of 2.41%. Full Story
If you listen closely, you’ll hear gold investors whispering that “it’s an ill wind that blows no good.” That’s because, while September may be the worst month of the calendar for stocks, it’s the best month for gold. Since it began trading freely in the U.S. in the early 1970s, gold bullion has produced an average gain of 2.1% in September. The comparable monthly average for all non-September months is 0.6%. Full Story
Physical demand for gold and silver was there in India and Asia yesterday and should continue for the rest of the week. There has been a very sharp reversal in prices of gold and silver (from the August lows) in Asia due to a very weak currencies. Trend reversal always attract short term traders and long term investors alike. Full Story
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