By: Chris Mullen, Gold-Seeker.com - 26 September, 2014
Gold climbed $9.29 to $1230.29 in Asia before it fell back to $1212.44 at about 10AM EST, but it then bounced back higher in late trade and ended with a loss of just 0.29%. Silver waffled between $17.73 and $17.456 and ended with a gain of 0.63%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 September, 2014
The gold price closed at $1,22.00 up $3.80 on Thursday in New York. In Asia and London, gold prices rose to $1,225.60 as the gold price broke away from the falling euro, which now stands at $1.2731. The gold price was Fixed at $1,213.75 up $13.75 and in the euro at €953.382 up €2.777, while the euro was much weaker at $1.2731 and after a short Fix. Ahead of New York’s opening, gold was trading at $1,223.30 and in the euro at €959.98. Full Story
With escalating conflict in the Middle East, an unresolved conflict in the Ukraine, and various other geo-political risks on the horizon such as the contagion risk of Ebola, it would be expected that the longstanding 'safe haven' qualities of gold would come into play as they have done in the past. Full Story
Speculation that Russia, Kazakhstan and its allies intend to buy thirty tonnes of gold resulted in profit booking in short positions. Technically gold has bottomed out and should rise to $1252 and $1276 first as long as it trades over $1210. Silver has been lagging behind gold but can catch up anytime. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 September, 2014
Gold dropped $10.06 to $1207.14 by a little after 3AM EST, but it then rose to as high as $1224.40 in New York and ended with a gain of 0.31%. Silver slipped to as low as $17.393 before it also rallied back higher at times, but it still ended with a loss of 1.07%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 September, 2014
The gold price closed at $1,217.20 down $5.70 on Wednesday in New York. In Asia and London, gold prices fell to $1,2o8.6 as the euro buckled more than a cent lower to $1.2724. The gold price was Fixed at $1,210.50 down $13.50 and in the euro at €950.605 down €2.221, while the euro was much weaker at $1.2734. Ahead of New York’s opening, gold was trading at $1,209.60 and in the euro at €950.83. Full Story
Latest official gold reserve data from the International Monetary Fund (IMF) shows that Russia again added to its gold reserves in August, with the Central bank of the Russian Federation purchasing 232,510 ozs (7.23 tonnes) and bringing its total gold reserves to 35.769 million ozs or 1,112.5 tonnes. Full Story
Sharp gains in the US dollar resulted in the fall in gold and silver. Gold and silver are in a neutral zone. Gold has not fallen below $1200. Silver has not fallen below $17.00. There is still a positive hope as long as these prices hold. The Euro/usd having a sustained fall below 1.2730 can trigger another quick sell off in gold, silver and copper. US economic data releases are on the higher side of street expectations. This has resulted in more short positions getting created in gold and silver. Full Story
By: Chris Mullen, Gold-Seeker.com - 24 September, 2014
Gold edged up to $1225.75 in Asia, but it then fell back to $1215.92 in New York and ended with a loss of 0.47%. Silver slipped to as low as $17.535 and ended with a loss of 0.56%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 September, 2014
The gold price closed at $1,222.90 up$7.60 on Tuesday in New York. In Asia and London, gold prices rose to $1,227. The gold price was Fixed at $1,224.00 down $1 and in the euro at €952.826 up 1.813, while the euro was weaker at $1.2846. Ahead of New York’s opening, gold was trading at $1,225.10 and in the euro at €953.31. Full Story
Singapore gold fell 0.1% to $1,221.04 an ounce. Gold bullion had climbed 1.5% yesterday, but trimmed gains to finish near 0.7%. Surprisingly, even the heightened geopolitical risk did not spur safe haven demand for the yellow metal. Gold sentiment was weak yesterday despite price gains overnight. The largest Gold ETF, SPDR Gold Trust, saw a dip in its holdings Tuesday (1.2 tonnes to 773.45 tonnes), its lowest since 2008. Full Story
It is all about the US dollar-Japanese Yen (USD/JPY) price movements that is dictating bullion markets. A break over 110 in the USD/JPY will trigger knock out options and it can also cause chaos in global price movements. Emerging market currencies could get significantly weaker if the USD/JPY trades over 110 for more than a week. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 September, 2014
Gold climbed $18.36 to $1233.66 at about 7AM EST before it fell back off in New York, but it still ended with a gain of 0.63%. Silver surged to as high as $17.975 at one point, but it then fell back off and ended with a loss of 0.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 September, 2014
The gold price closed at $1,215.30 down $2.30 on Monday in New York. In Asia and London, gold prices rose to $1,218. The gold price was Fixed at $1,225.00 up $11.00 and in the euro at €951.013 up €6.266, while the euro was stronger at $1.2881. Ahead of New York’s opening, gold was trading at $1,226.20 and in the euro at €951.10. Full Story
Despite the recent bout of price weakness, gold American eagle coin sales from the U.S. Mint have picked up significantly from last month. The latest bullion coin sales figures from the U.S. Mint show a tentative pickup and robust retail bullion demand, with September sales stronger for both the American Eagle and American Buffalo gold coins as well as for the American Eagle silver 1oz coins. Full Story
Gold and silver need to rise today and tomorrow so that laggards who have not yet invested (for the short term) can start to invest. Unless gold and silver show signs of a bottom formation physical buyers as well ETF investors will stay away from market. To me with every big fall in silver, the risk to return ratio is in favor of the buyers. A recovery in the US economy will result in higher demand of goods from China and other nations and thereby a full-fledged global recovery. Higher interest rates in the USA imply that the Federal Reserve is confident that US economic growth will continue to rise. Full Story
By: Chris Mullen, Gold-Seeker.com - 22 September, 2014
Gold dropped $7.77 to $1209.83 in early Asian trade before it bounced back to $1217.10 in London and then fell back to $1212.34 by a little after 11AM EST, but it then jumped to a new session high of $1219.42 by early afternoon in New York and ended with a loss of just 0.19%. Silver slipped to $17.354 in early Asian trade before it climbed back to $17.863 in New York, but it still ended with a loss of 0.5%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 September, 2014
The gold price closed at $1,217.60 down $7.30 on Friday in New York. In Asia and London, gold prices slipped slightly to $1,212. The gold price was Fixed at $1,214.00 down $8.50 and in the euro at €944.747 down €4.473, while the euro was the same at $1.2850. Ahead of New York’s opening, gold was trading at $1,213.60 and in the euro at €945.28. Full Story
China is slowly moving to dominate the global gold market and it is important to join the dots regarding a few key recent developments in China relating to gold. When the International Board of the Shanghai Gold Exchange (SGE) was launched last Thursday September 18 during an evening trading session, it was notable that the first transactions were put through by a diverse group comprising HSBC, MKS (Switzerland), and the Chinese banks, ICBC, Bank of China and Bank of Communications. Full Story
Indians have postponed their gold and silver purchases as they are not showing signs of a bottom formation. Oversold conditions are there in gold and silver. The US dollar will be the key. Big gains in the greenback this week can result in long term buy stop losses being triggered in gold and silver. Gold and silver valuations are more or less near fundamentals. Full Story
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