By: Chris Mullen, Gold-Seeker.com - 26 August, 2016
Gold gained $10.41 to $1332.91 at about 9AM EST before it dropped down to $1319.39 just after the release of Yellen’s Jackson Hole speech and then jumped to a new session high of $1341.96 in the next fifteen minutes of trade, but it then fell back off again in late morning trade and ended with a loss of 0.11%. Silver rose to as high as $19.049 before it fell back to $18.58, but it still ended with a gain of 0.43%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 August, 2016
The gold price, we feel is now forming an attractive short term pattern that should be positive for gold. The gold price fall was an ‘engineered fall’ that did not represent the physical state of the market. Here we are in the last week of August, ahead of the ‘gold season’. This is one of the last weeks when the gold ‘bears’ could do this. Before the fall the Technical picture moved to a point where a strong move was possible either way. This was, with hindsight an invitation to them to do this. Full Story
Gold bullion has had its biggest gains in September over the past 20 years. Seasonally gold is entering the sweet spot with the Autumn being gold’s best season and with September being gold’s best month in the last 20 years. Given the backdrop of one of the most uncertain macroeconomic, systemic, geopolitical and monetary outlooks both the U.S. and the world have ever seen, we are likely to see gold do well in its traditionally seasonal strong period. Possibly, the most vitriolic, hateful and divisive election in U.S. history is set to be witnessed and this will likely lead to considerable volatility in markets and should see the dollar come under pressure. The election date is Tuesday, November 8, 2016. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 August, 2016
Gold gained $2.67 to $1326.97 in Asia before it dropped down to $1318.08 by a little after 8:30AM EST, but it then bounced back higher into the close and ended with a loss of just 0.14%. Silver rose to as high as $18.66 and ended with a gain of 0.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 August, 2016
Shanghai lifted prices slightly in both the morning and afternoon fixes. But they did allow the U.S. prices to guide them. While Shanghai can lead gold prices we feel that at least until October 1st they will take a low profile by remaining roughly in synch with western gold markets. Perhaps the fall in gold prices was a dealer-led pull back ahead of Janet Yellen’s Friday speech. This discounts an announcement that a rate hike will happen very soon. If she does not imply that, then we see the gold market moving higher. Full Story
We have seen this repeatedly over the years and the timing is frequently before “important,” “all eyes on the all powerful Fed” central bank meetings. ‘Monetary High Priest’, Janet Yellen will divine the tea leaves at Jackson Hole tomorrow and the dumb money continues to lap up the silly sound bites which distract from and ignore the wider context of a U.S., UK, Japan and of course EU that is increasingly bankrupt. Full Story
By: Chris Mullen, Gold-Seeker.com - 24 August, 2016
Gold dropped throughout most of trade in New York and ended near its last minute low of $1323.80 with a loss of 1.07%. Silver slipped to as low as $18.535 and ended with a loss of 1.75%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 August, 2016
Once again, overall, all global gold markets, together with global currencies seem to be moving sideways today with an emphasis on a slightly stronger dollar. But this strength is small. So we have gold prices in the dollar falling and those in the euro rising. Friday’s Jackson Hole comments by Mrs. Yellen of the Fed are the focal point of the week with markets finely measuring the emphasis she puts on her words, looking for the smallest sign of what the Fed is going to do and when. Full Story
Jim Grant is “very bullish on gold” due to deepening concerns of a crash in sovereign debt. The monetary historian and expert, financial journalist and editor of the investment newsletter ‘Grant’s Interest Rate Observer’ is always worth reading and listening to. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 August, 2016
Gold gained $6.05 to $1344.65 in early New York trade before it fell to see a slight loss by midday, but it then edged back higher in early afternoon action and ended unchanged on the day. Silver rose to as high as $19.114 in Asia, but it then drifted back lower into the close and ended with a loss of 0.16%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 August, 2016
The market in gold remains sensitive to exchange rate moves and to purchases and sales in the gold ETFs There is little else of substance to move these prices currently. Janet Yellen is due to speak today, but is expected to remain dovish on rate hikes. Hence the better tone in the gold market. China has been given the OK to issue an S.D.R. bond, purchasable in Renminbi only, by the World Bank. This new bond issuance is 2 billion SDRs which is equivalent to $2.8 billion. Full Story
This is one of the primary reasons that one should own physical gold coins and bars outside the banking, financial and indeed the “technological system” and its dependence on electrical grids and supplies. Many of these systems are antiquated and vulnerable to attack such as from electromagnetic pulse (EMP) warfare that could quickly take out a large city or indeed a nation’s electricity infrastructure and supplies. Full Story
That said, and because of the next chart, while inflation sensitive issues could fall faster than the broad measures of stocks in the next correction, which could be any day now depending on Trump’s presidential prospects, if the Dow / XAU (Philadelphia Gold and Silver Index) Ratio is to bounce soon, putting a tail wind at the back of stocks – you shouldn’t short them – especially with the status quo boys (bureaucrats, oligarchs, media, and fedsters) all working to get Hillary elected. Full Story
Gold investment in the first half of the year broke previous levels, as seen in the chart below, with both coin and bar demand, as well as ETF product demand, soaring to record levels. Gold demand will get another boost in India as wedding season starts to heat up, particularly with the metal currently trading at a $40-$50 discount in the country, reports Bloomberg. Bullion traders noted persistent buying by jewelers at domestic markets to meet festive season demand. Full Story
Deposits at Bank of Ireland are soon to face charges in the form of negative interest rates after it emerged on Friday that the bank is set to become the first Irish bank to charge customers for placing their cash on deposit with the bank. Full Story
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