By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 July, 2013
New York closed at $1,331.50 up $11.60. London pulled it back to Fix it at $1,327.75 up $15.75 on yesterday and was Fixed in the euro at €998.76 up nearly €4.00. Ahead of New York’s opening gold was at $1,329.45 and in the euro at €1,000.72. Full Story
The PRICE of gold bullion retreated from an overnight rise to $1340 per ounce in London on Friday morning, trading back down to $1322 – the low hit by the mid-April crash – as the US Dollar ticked higher. Silver prices slipped back below $20 per ounce – a 33-month low when first breached in June. Full Story
Gold is on course for its third week of gains, buoyed by a weak dollar, no definite end to quantitative easing and continuing ultra loose monetary policies. Central bank gold buying is also supporting gold. Premiums in India are $20 per ounce over London prices as demand outstrips government restricted supply before the festival season on the subcontinent. Full Story
Gold fell $11.13 to $1308.77 at about 6AM EST, but it then climbed back higher in New York and ended near its late session high of $1333.46 with a gain of 0.88%. Silver slipped to as low as $19.79 before it also rallied back higher and ended near its late session high $20.252 with a gain of 0.2%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 July, 2013
New York closed at $1,319.90 down $22.50. London pulled it back further to Fix it at $1,312.00 down $28 on yesterday and was Fixed in the euro at €994.92 down €17.39. Ahead of New York’s opening gold was at $1,312.50 and in the euro at €995.60. Full Story
WHOLESALE gold rallied from a drop to $1310 per ounce Thursday lunchtime in London, gaining as world stock markets also cut earlier losses. Trading back above $1322 – a two-year low when hit by April's gold crash – spot bullion also rallied 1.0% for Euro and Sterling investors. Full Story
Resistance is at $1,350/oz and $1,400/oz and the first level of support is at $1,300/oz which may be tested today. Below that support is at $1,200/oz and the recent multi year low on June 28 at $1,180/oz. Full Story
Gold waffled near unchanged in Asia, but it then fell throughout most of trade in New York and ended near its early afternoon low of $1313.00 with a loss of 1.68%. Silver slipped to as low as $19.998 and ended with a loss of 1.47%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 July, 2013
New York closed at $1,342.4 up $8.70. London lifted it ever so slightly to $1,343.30 ahead of the Fix where it was set at $1,340.00 up $13.25 from yesterday and was Fixed in the euro at €1,012.31 up €5.20. Ahead of New York’s opening gold was holding that level and in the euro at €1,012.96. Full Story
The PRICE OF GOLD fell $10 per ounce from a new 5-week high in London on Wednesday morning, but stood higher for the 13th session running amid what one trading desk called "a stop-loss fiesta". "There [is] still a lot of short positioning to unwind," says a note from finance and refining group MKS in Geneva, "with very little seen in terms of any pullbacks." Full Story
Gold pulled back today on profit taking after a 4 day rally drove prices to one month highs . Weak PMI data from China showed its economy is slowing, the U.S. dollar strengthened, and positive PMI data from Europe may have contributed to profit taking after gold’s more than 10% gain from the recent lows. Full Story
Gold dipped down to $1326.56 at about 7AM EST, but it then rallied back higher for most of trade in New York and ended near its late session high of $1346.10 with a gain of 0.65%. Silver slipped to as low as $20.117 before it also rallied back higher, but it still ended at just unchanged on the day. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 July, 2013
Asia again lifted the market up to $1,336 after New York closed at $1,333.70 up another $16 on London. London pulled it lower ahead of the Fix where it was set at $1,326.75 up $13 from yesterday but down $10 on the start of the day and was Fixed in the euro at €1,007.10 up nearly €9.00. Ahead of New York’s opening gold was going firmer at $1,329.55 and in the euro at €1,008.84. Full Story
The PRICE OF GOLD eased back to $1330 per ounce Tuesday morning in London, dropping 0.7% from yesterday's 5-week highs as commodities slipped with major government bond prices. Asian stock markets rose as the Japanese Yen edged lower. European stocks and US equity futures crept 0.2% higher. Full Story
Concerns about a default on the COMEX, once the preserve of a few observant market watchers, are becoming more widespread as we appear to be witnessing a run on the highly leveraged bullion banking system. Very robust physical demand from the Middle East, Asia and particularly China and a decline in the dollar also helped prices log their biggest one-day gain in over a year and their first close above $1,300 an ounce in nearly five weeks. Full Story
One day’s rise is a selling opportunity while two successive days of rise implies that there is some strength in the rise. This is a basic rule for all investments and is applicable to gold and silver also. Today’s US session is very crucial for gold and silver as they need a daily/today close over $1308 and $2040 to make the way for a sustained short term rise. Some of the traders just might use the current rise to exit short term investment in gold and silver. Full Story
Gold climbed higher throughout most of world trade and ended near its late morning New York high of $1339.00 with a gain of 3.04%. Silver surged to as high as $20.595 and with a gain of 4.98%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 July, 2013
Asia started the week in dramatic form by lifting the gold price from New York’s close on Friday of $1,294.40 to $1,317 up $23. London then held it at $1,315 before it Fixed at $1,313.75 and in the euro at €998.214 up €17.00. Ahead of New York’s opening gold was going firmer at $1,315.45 and in the euro at €997.88. Full Story
The WHOLESALE price of gold leapt in thin Asian trade Monday morning, jumping 1.7% inside half-a-minute and then extending its run in London to new 1-month highs at $1322 per ounce. London-listed gold equities followed, with shares in Randgold Resources – tipped today by analysts at both J.P. Morgan and Morgan Stanley as better able to cut costs and avoid write-downs than competitors – rose 2.5%. Full Story
Gold is higher in all currencies and 1.4% higher in dollars. It has climbed above the key technical level of $1,300/oz reaching a one month high on technical buying and short covering as the U.S. dollar fell. Gold remains in backwardation with stresses being felt in the physical market due to a lack of supply. Hedge funds and speculators increased their net long positions by 56% last week according to the Commodities Futures Trading Commission but the short position on the COMEX remains near record levels meaning that a significant short squeeze is on the horizon. Full Story
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