By: Chris Mullen, Gold-Seeker.com - 25 November, 2016
Gold dropped $17.16 to $1171.44 at the open of trade in Asia before it bounced back to $1193.03 by a little before 4AM EST, but it then drifted back lower in New York and ended with a loss of 0.61%. Silver slipped to $16.182 before it rallied to as high as $16.582 and then also fell back off, but it still ended with a gain of 0.8%. Full Story
We can say with confidence that much of the fall in the gold price has been driven by bullion banks looking to square their books. We can also surmise that by driving the gold price below the 55-day and 200-day moving averages, technical analysts have turned uniformly bearish, triggering further selling. It therefore follows that when the bullion banks have long positions, they will be prepared for the market to rise as the inflation outcome develops. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 November, 2016
We have pointed out to readers that there are two types of gold investors across the world. Those who use the gold price to try to make [currency] profits, which are then converted into one or another currency, see profit as the goal. Pork bellies would serve just as well if profits were better in that market. With Fund managers being made accountable on a month to month basis institution are measured on their profit making abilities. Markets are structured so that one can deal in a milli-second or in the future. The media is structured to have a similar profit-oriented way of reporting. Full Story
Gold down 13% in 13 trading days since Trump election Factors that have led to lower gold prices Trump bearish for gold in coming four years? ‘Trumpflation’ cometh Sharia gold – vaulted gold accessible to 110 million new investors What to do? Diversify and geometric price cost average Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 November, 2016
Gold prices in Shanghai are $18 higher than New York’s close and $22 higher than London’s opening [allowing for the difference in the quality of gold priced in the different markets]. This demonstrates just how strong demand in China really is. What has to be seen in a physical gold market is the direct impact on the gold price physical demand and supply has. In a COMEX type market prices are much more volatile and easily moved by algorithm trading, just because no physical metal is involved. Inevitably physical gold will move to the market paying the most. Full Story
In a world of ultra low and negative interest rates, bail-ins and increasing corporate and government surveillance, the war on cash will be damaging to savings and wealth protection, it will primarily benefit governments and banks. These were the primary conclusions we came to in our recent research note on the ‘Cashless Society’. Within the article we touched on several points that we felt were of concern in the growing war on cash. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 November, 2016
Gold fell $29.82 to $1182.18 in late morning New York trade before it bounced back higher into the close, but it still ended with a loss of 1.93%. Silver slipped to as low as $16.18 and ended with a loss of 1.86%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 November, 2016
We are aware that central banks do not like to affect the gold price when buying and we are also aware that they are not keen to be predictable in their purchases. What is a practical ploy in buying is to not go to the market but to let the market come to them and just ‘accept the offer’ of gold from dealers when they are heavy with holdings. This does not affect the price but does remove available gold stocks from the market. Full Story
This is the largest addition of gold to the Russian monetary reserves since 1998 and could be seen as a parting ‘gift’ by Prime Minister Putin to his rival ex-President Obama. The Russian central bank gold purchase is the biggest monthly gold purchase of this millennium. Concerns about systemic risk, currency wars and the devaluation of the dollar, euro and other major currencies has led to ongoing diversification into gold bullion purchases by large creditor nation central banks such as Russia and China. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 November, 2016
Gold gained $8.46 to $1220.86 in early Asian trade before it fell all of the way back to $1206.44 in late morning New York trade and then bounced back higher into midday, but it still ended with a loss of 0.03%. Silver rose to as high as $16.886 and ended with a gain of 0.42%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 November, 2016
The dollar is lower again, bouncing off the 101 dollar index area there. The dollar is the driver of U.S. prices allowing gold prices in other currencies to rise. While heavy selling continues from the gold ETFs in the U.S. New York will pull prices down. With London being the hub of the developed world’s physical gold market it will pull prices higher as the Chinese banks, via a typically structured ‘swap’ transaction, will arbitrage gold between Shanghai and London, where profitable. Full Story
Jim Rickards is editor of Strategic Intelligence for Agora Financial as well as the founder of the James Rickards Project: an inquiry into complex dynamics of geopolitics and capital. He is also the author of New York Times bestsellers The New Case for Gold, Currency Wars: The Making of the Next Global Crisis and The Death of Money: The Coming Collapse of the International Financial System. Jim’s newest book, The Road to Ruin was published November 15. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 November, 2016
Gold gained $9.25 to $1217.55 in London before it chopped back lower in New York, but it still ended with a gain of 0.34%. Silver rose to as high as $16.746 and ended with a gain of 0.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 November, 2016
Once again, allowing for the difference in the quality of gold priced in the different markets, Shanghai gold prices Fixed gold prices in the morning and the afternoon much higher that New York’s close in the ‘20s not below ‘10 pushing for pricing dominance once more. The dollar is lower and stable at the beginning of this week, but may well try to rise again. Once again it is the dollar’s strength that is making global market prices in currencies and precious metals alongside selling action in the gold ETFs. Full Story
Gold has buckets of support in the $1,200-$1,230 area. It made its March and May lows there earlier in the year. The relative strength index is below 30 – meaning it is coming into the “buy” zone. Gold stocks were up 5% yesterday while gold was stable – that is often a bullish divergence. Full Story
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