By: Chris Mullen, Gold Seeker Report - 26 October, 2018
Gold gained $8.30 to $1238.60 in Asia before it dropped back towards unchanged in London, but it then shot up to as high as $1243.40 in late morning New York trade and ended with a gain of 0.3%. Silver waffled between $14.734 and $14.576 in Asia and London, but it then rose to as high as $14.766 in New York and ended with a gain of 0.55%. Full Story
Gold is 0.8% higher for the week and 3.5% higher month to date. Safe haven gold is again acting as a hedge and safe haven asset, exactly when investors need one. Much of the news flow and price action this week was bearish for risk assets and quiet bullish for the precious metals. The world’s central banks, already the biggest holders of gold, are again looking at gold as a safer reserve asset than the U.S. dollar. Hungary increased its gold reserves by a massive 1,000% due to increasing “safety concerns.” Full Story
After the roller coaster ride this week in global financial markets, investors are cautious investing in everything. Gold is consolidating in a $1220-$1245 range. This range will be broken by Halloween. If industrial metals crash, then silver could take a back seat. Speculation of oversupply in crude oil has resulted crude oil trading with a softer bias. If crude oil does not rise today (being the last trading day of the week), then chances of $63 and $60.10 will be very high this week. Full Story
By: Chris Mullen, Gold Seeker Report - 25 October, 2018
Gold gained $6.50 to $1239.10 in Asia before it dropped back to $1230.40 at about 4AM EST and then bounced back to gains in early New York trade, but it then drifted back lower into the close and ended with a loss of 0.19%. Silver slipped to as low as $14.605 and ended with a loss of 0.34%. Full Story
Psychology is a powerful thing and falling prices in leading financial capitals around the world will likely curb property investors enthusiasm for other over valued and frothy property markets including Toronto, Perth, San Francisco, Los Angeles, Amsterdam, Frankfurt, Paris, Dublin and others. Property investors should consider diversifying into safe haven gold which will again hedge and protect investors in a sharp correction or a crash. Full Story
By: Chris Mullen, Gold Seeker Report - 24 October, 2018
Gold gained $3.20 to $1233.30 in Asia before it dropped back to $1225.70 by a little after 8AM EST and then bounced back to gains by midmorning in New York ahead of a fall back to $1227.40 by early afternoon, but it then jumped higher into the close and ended with a gain of 0.2%. Silver slipped to as low as $14.653 and ended with a loss of 0.41%. Full Story
– Palladium prices surge to an all-time nominal high over $1,150/oz – Russia is one of the top producers and growing tensions with the U.S. may result in a “supply crunch” – Palladium is widely used in the automotive industry and is experiencing significant demand and a “supply crunch” – Deep supply deficits in palladium are predicted by Citigroup and other analysts (see Bloomberg table) Full Story
Gold and silver need to rise after tomorrow’s European central bank meeting and Friday’s third quarter GDP numbers due to zoom. I am against new short term investment in gold unless it trades over $1245.80 on Friday after the release of US GDP numbers. Long term, gold is still an excellent investment even at the current price of $1235. Asian prices of gold are near an all-time high. Buyers in Asia will wait for some correction if gold hints of a correction. Full Story
By: Chris Mullen, Gold Seeker Report - 23 October, 2018
Gold gained $16.70 to $1239.50 just after 8AM EST before it chopped back lower in New York, but it still ended with a gain of 0.6%. Silver rose to as high as $14.806 and ended with a gain of 1.1%. Full Story
– Gold rallied “as stocks retreated” and “market risk became more systemic” – As stock sell-off became systemic globally, gold rose meaningfully – World Gold Council – IMF Global Financial Stability report highlights an increase in level of risk among multiple global metrics – WGC Investment Update *Happy 15th Birthday GoldCore* Full Story
By: Chris Mullen, Gold Seeker Report - 22 October, 2018
Gold saw slight gains in Asia before it drifted down to $1220.50 by midmorning in New York and then bounced back higher into the close, but it still ended with a loss of 0.29%. Silver slipped to as low as $14.519 and ended with a loss of 0.41%. 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.
