By: Chris Mullen, Gold-Seeker.com - 27 January, 2017
Gold fell $8.48 to $1180.62 at about 8:45AM EST, but it then chopped back higher for most of the rest of trade and ended near its last minute high of $1191.60 with a gain of 0.15%. Silver surged to as high as $17.228 and ended with a gain of 1.9%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 January, 2017
Shanghai was closed today until next Friday for the Lunar New Year celebrations. Yesterday it traded between 268 and 266.80 but the Fixes have not been released today. This equates to $1,212.38 and dropping to $1,206.95 Which was in line with London then, before New York took it down further as Options were closed. Full Story
Trump’s senior advisor (and fellow advocate for a weaker dollar) Anthony Scaramucci took to Twitter to thank President Trump for bringing about the best stock-market performance after a presidential election win since 1900. UKIP Leader Nigel Farage agreed that this was thanks to the Donald and saw it has a ‘huge vote of confidence in @POTUS.’ Full Story
The next three days are very crucial for gold and silver despite the current bearish technicals. Crude oil is bullish. Copper is in a neutral zone. Physical demand for gold and silver has been below expectations (despite the Chinese New Year). In the short term the direction of the US stock markets and the trend of the US dollar will dictate gold and silver prices. Copper and crude oil prices will get swayed by demand and supply news. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 January, 2017
Gold fell $15.54 to $1184.56 in midmorning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.92%. Silver slipped to as low as $16.683 and ended with a loss of 1.12%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 January, 2017
Shanghai was trading today around 266.80 Yuan or in dollars, at today’s exchange rate, $1,206.95. The dollar was weaker across the board, but only slightly against the Yuan. We correct ourselves and inform you that today is the last trading day before the ‘Year of the Rooster’ celebrations, which begin tomorrow and end next Thursday. Business will continue next Friday, there. Full Story
Switzerland’s gold bullion exports to China saw a huge jump in December, climbing to 158 tons versus a much lower 30.6 tons in November – a jump of 416%. According to Eddie van der Walt as reported on the Bloomberg terminal this morning, total Swiss gold exports surged to 287.6 tons in December (valued at CHF 10.8b) according to data on the website of the Swiss Federal Customs Administration. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 January, 2017
Gold fell $16.55 to $1193.35 in midmorning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.81%. Silver slipped to as low as $16.775 and ended with a loss of 0.7%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 January, 2017
Shanghai was trading today around 268.75 Yuan or in dollars, at today’s exchange rate, $1,215.58. The dollar was stronger across the board, as well as against the Yuan. With only two more trading days before the celebration of the ‘Year of the Rooster’ begins we may well see last minute buying or a tapering off of demand. It is impossible to forecast which. Full Story
It is hard for central banks to dictate the value and supply of gold in the long term. Although they have tried and failed. This was seen during and after the London Gold Pool when gold prices surged from $35 to $850 in just 9 years and again in recent years when banks were found to be attempting to fix and manipulate gold prices. Manipulation frequently works in the short term but over the long term, the all powerful forces of supply and demand in the global market place will determine prices. Full Story
By: Chris Mullen, Gold-Seeker.com - 24 January, 2017
Gold saw slight gains in Asia before it fell back to $1211.64 in London and then jumped up to $1217.62 in midmorning New York trade, but it then fell back off into the close and ended near its late session low of $1206.68 with a loss of 0.44%. Silver slipped to as low as $17.038 and ended with a loss of 0.41%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 January, 2017
Shanghai was trading today just above 270 Yuan or in dollars, at today’s exchange rate, $1,226,15 having touched nearly 272 during the day. The dollar is only slightly weaker across the board, as well as against the Yuan. New York, Monday, closed in line with gold prices in Shanghai earlier in the day, before New York opened. This is a first, as New York climbed up to Shanghai’s levels despite an over 2 tonne sell-off from the SPDR gold ETF. Full Story
GoldCore research shows that if just 1 per cent of Islamic finance goes into gold, demand could increase by up to an enormous 1,000 tonnes a year. Even if demand comes in at half that it means the gold market will undergo a considerable shake-up. Last month the Sharia Standard was approved as a collaboration between the Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), the Islamic standard-setting body, and The World Gold Council (WGC) in London. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 January, 2017
Gold gained $11.85 to $1219.45 in Asia before it fell back to $1209.43 by a little before 10AM EST, but it then jumped up to $1218.90 by midday in New York and ended with a gain of 0.64%. Silver rose to as high as $17.247 and ended with a gain of 0.64%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 January, 2017
New York, on Friday closed at only a $4.60 discount to prices in Shanghai on Friday and London opened on Monday $12.00 higher than Shanghai. Shanghai is, once again driving prices despite the stronger Yuan against the dollar. It demonstrates that gold is rising against all currencies today and in all gold markets. Full Story
– ‘Trumponomics’: Politics and economic policy in 140 characters – The ‘intelligence’ according to Trump – Trump, Putin and Russia – the great bromance – Trump – Bull in a China shop – Trade and currency wars with China and other nations – Trump – Fan of gold and golden tweets – Conclusion – Trump may be the ‘Golden Ticket’ Full Story
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