By: Chris Mullen, Gold Seeker Report - 27 October, 2017
Gold dipped $3.40 to $1263.90 in London, but it then rose to as high as $1273.70 in New York and ended with a gain of 0.46%. Silver climbed to as high as $16.863 and ended with a gain of 0.36%. Full Story
– Russia adds 1.1 million ounces to reserves in ongoing diversification from USD – 34 ton addition brings Russia’s Central Bank holdings to 1,779t; 6th highest – Russia’s gold reserves are at highest point in Putin’s 17-year reign – Russia’s central bank will buy gold for its reserves on the Moscow Exchange – Russia recognises gold’s role as independent currency and safe haven Full Story
European central bank chief taper comments and Spain let down the euro. Technical picture is bearish for gold and silver. Reuters survey says that most of the analysts have reduced their gold and silver forecast for next year. I am not changing my bullish views on gold and silver for next year. This year gold and silver are mainly supported by geopolitical risk. Next year I expect the South China Sea and Korean peninsula to turn into the Persian Gulf. Full Story
By: Chris Mullen, Gold Seeker Report - 26 October, 2017
Gold gained $5.10 to $1282.50 in Asia and held near unchanged in London, but then fell back off in New York and ended near its last-minute low of $1265.90 with a loss of 0.79%. Silver slipped to as low as $16.744 and ended with a loss of 0.94%. Full Story
– Gold will be safe haven again in looming EU crisis – EU crisis is no longer just about debt but about political discontent – EU officials refuse to acknowledge changing face of politics across the union – Catalonia shows measures governments will use to maintain control – EU currently holds control over banks accounts and ability to use cash – Protect your savings with gold in the face of increased financial threat from EU Full Story
Traders will start taking positions for next week’s FOMC meet. Everything is factored in traders before the FOMC on interest rate trend and US economic growth. US housing numbers failed to add gains to the US dollar. This makes me believe that short sellers need to be careful in gold and silver. Gold and silver investment demand is seen from Europe. Asian gold investment demand is more or less zilch at the moment. Asians are looking for a price reversal for investment. Technically short term gold and silver are in a neutral zone. I will prefer to call it as a cyclical trend. Full Story
By: Chris Mullen, Gold Seeker Report - 25 October, 2017
Gold fell $6.70 to $1271.10 at about 8:45AM EST, but it then chopped up to as high as $1279.80 in early afternoon trade and ended with a loss of just 0.03%. Silver rose to as high as $17.001 and ended with a loss of 0.18%. Full Story
– Gold’s value is due to exceptional rarity: Only 0.00000002% of earth’s crust is gold – Gold’s allure and psychology behind it are steeped in history and human psychology – Gold’s colour and texture appeals to basic human survival instincts – Gold’s sheen resembles water and “humans need water in order to survive” – Gold remains a sign of wealth but today is also a sign of prudence Full Story
By: Chris Mullen, Gold Seeker Report - 24 October, 2017
Gold edged up to $1283.60 in Asia before it fell back to $1273.80 at about 11AM EST, but it then bounced back higher into the close and ended with a loss of just 0.35%. Silver slipped to as low as $16.883 and ended with a loss of 0.7%. Full Story
– Gold is better store of value than bitcoin – Goldman Sachs report – Gold will continue to perform well thanks to uncertainty and wealth demand – Bitcoin’s volatility continues to impact its role as money – Gold up 12% in 2017, bitcoin over 600% – BTC is six times more volatile than gold – see chart – Gold’s history and physical property shows it meets requirements as a medium of exchange and store of value Full Story
Moves in the currency markets are dictating gold and silver. Technically gold and silver are in a neutral to bullish zone. There is not much news at the moment. Prices moves in gold, silver and currency markets reflect investor short sightedness. Fears that geopolitical risk can rise anytime is preventing investors not to take a medium term stance. Full Story
By: Chris Mullen, Gold Seeker Report - 23 October, 2017
Gold fell $7.50 to $1272.50 by a little after 9AM EST before it jumped up to $1282.50 in early afternoon action and then drifted back lower, but it then popped back higher again into the close and ended near its last-minute high of $1283.30 with a gain of 0.18%. Silver rose to as high as $17.105 and ended with a gain of 0.35%. Full Story
Last week markets wobbled somewhat on the 30th anniversary of Black Monday with a 2017 version of an iffy day’s trading. The SPX 500 posted it’s biggest post-midnight drop on Friday, but went onto finish the day with yet another record close. Prudent traders and investors are growing increasingly uncomfortable with the increasing “irrational exuberance” in markets. We are repeatedly seeing new record highs in U.S. stocks and yet trading volume and volatility remain suspiciously low. Full Story
Gold and silver can fall further if there is no geopolitical risk. Economic data releases for the next two weeks will affect global financial markets only if they are below expected lines. The Bank of England is expected to raise interest rates next month. Sterling could nosedive if there is anything to indicate that the Bank of England will not raise interest rates. 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.
