By: Chris Mullen, Gold-Seeker.com - 25 September, 2015
Gold fell $11.97 to $1140.93 in late Asian trade before it bounced back higher in early New York trade, but it still ended with a loss of 0.55%. Silver jumped up to $15.199 at one point, but it then fell back off in late morning New York trade and ended with a loss of 0.33%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 September, 2015
New York closed with the gold price at $1,152.90 up from $1,130.10 yesterday. Gold fell back to $1,147 in Asia and in London further to $1,142 ahead of the fix. The dollar was stable at $1.1150 and the dollar index a little higher at 96.50 from yesterday. In London’s morning the LBMA gold price was set at $1,145.50 up from $1,134.45 and $20 in the last two days. In the euro this was €1,025.51 up from €1,012.59. Ahead of New York’s opening gold was trading at $1,143.90 and in the euro at €1,024.27. Full Story
Silver bullion coins are continuing to see rising premiums and delivery delays due to continuing very robust demand and a lack of supply of all silver bullion coins. Premiums on silver eagles have been creeping up since mid-May (see chart below) and wholesale premiums have risen from 14% in May to over 25% this week. Silver eagles remain probably one of the best proxies for silver coin demand and also of investment and store of wealth demand for silver. Full Story
By: Chris Mullen, Gold-Seeker.com - 24 September, 2015
Gold gained $26.34 to $1156.44 by late morning in New York before it edged back lower in afternoon trade, but it still ended with a gain of 2.02%. Silver rose to as high as $15.189 and ended with a gain of 2.3%. Full Story
Nick Laird has just completed a great article replete with many interesting and important charts which further illuminate the size of the “London Float” which is the working supply of gold available to meet the gold markets daily needs and huge international demand for gold today – especially from Germany, India and China. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 24 September, 2015
We were intrigued by a statement President Xi of China made in the U.S. yesterday. He led us to believe that there was no intention to ‘devalue’ the Yuan. What does this mean? A devaluation is where a nation’s central bank informs all that it will intervene in its foreign exchange market to lower the exchange rate of its currencies to a specific level. Recently we saw the first step by China to ‘float’ its exchange rate and allow the market to establish an exchange rate for a currency. They did not ‘devalue’ the Yuan, the market took it lower. It is clear now that China was as surprised as anyone by the fall and has stepped in to support the exchange rate of the Yuan against the dollar. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 September, 2015
Gold gained $8.61 to $1134.01 at about 9:30AM EST before it chopped back lower in the next hour and a half of trade, but it still ended with a gain of 0.42%. Silver rose to as high as $14.925 and ended with a loss of 0.14%. Full Story
Gold has natural physical wealth and real value. Gold does not have a national currency or a state boundary and serves people equally every place in the world. Gold, when used as independent money, prevents the central banks from their destructive false counter-party claim to exclusively control and centrally plan the nation’s economy. Gold cannot be printed into existence so it does not have the artificial risks that come from using the central banks’ Ponzi of counter-party paper finance. Gold is the people’s real wealth that protects them from corrupt government and financial institutions. Gold is the money that cannot go broke. For several thousands of years every country in the world has used gold or silver to guarantee the independence and value of their currencies. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 23 September, 2015
The recent turmoil in global markets has left background of fear against which the slightest negative news about China sets markets down in a tailspin. For gold the story is different. Repeatedly the Chinese government tells us all that the transition away from a manufacturing/exporting nation to one of internal consumption will lead to slower growth. Growth in the retail sector remains at double digit levels, which for gold is positive. To this end we fully expect to see the year end with record annual imports of gold [totaling retail and institutional amounts together]. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 September, 2015
Gold fell $11.75 to $1121.45 by a little after 9AM EST before it bounced back higher into midday, but it still ended with a loss of 0.69%. Silver slipped to as low as $14.726 and ended with a loss of 2.5%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 September, 2015
New York closed with the gold price at $1,133.20 down $6.40 on yesterday. Gold held around there in Asia but pulled back slightly in London. The dollar strengthened $1.1171 from $1.1208 overnight and the dollar index continues to climb at 95.96 up from 95.32. In London’s morning the LBMA gold price was set at $1,129.30 down $7.55. In the euro this was €1,009.57 up from €1,007.86 up €1.71. Ahead of New York’s opening gold was trading at $1,129.30 and in the euro at €1,012.60. Full Story
Keynes did not desire “a world where currencies are backed by nothing more than a governmental promise to pay while the printing presses whirled unchecked”. Full Story
By: Chris Mullen, Gold-Seeker.com - 21 September, 2015
Gold dropped $9.27 to $1130.33 by a little before 8AM EST before it bounced back higher in New York, but it still ended with a loss of 0.56%. Silver slipped to as low as $15.101 in London, but it then rose to as high as $15.257 in New York and ended with a gain of 0.26%. Full Story
Russia is now the seventh biggest holder of gold reserves after the U.S, Germany, the IMF, Italy and France and the rising gold power China. Russia has more than tripled its reserves since 2005 and holds the most gold bars since at least 1993, International Monetary Fund data shows. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 21 September, 2015
The gold price was held back by overhead resistance on Friday at $1,140 and looks set to continue to consolidate until this formation is completed. Then we will see the strong move, either way.
It will take some time for global markets to factor in what the Fed did do last week in terms of the U.S. dollar. Our view received partial confirmation of this, in that there were no sales or purchases from or into the U.S. based gold ETFs. Full Story
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