Gold dropped $16.54 to $1054.06 by about 9AM EST before it bounced back higher, but it still ended with a loss of 1.03%. Silver slipped to as low as $13.984 and ended with a loss of 0.63%. Full Story
New York was closed yesterday. In Asia prices were pulled back to $1,068 as the dollar went stronger again, taking the dollar to 100.08 on the dollar index. The LBMA price setting fixed it at $1,064.65 down from 41,072.50 down $7.85 on yesterday’s LBMA price setting. The dollar is at $1.0590 up from $1.0615 against the euro. In the euro the fixing was €1,005.43 down from yesterday’s €1,008.81. Ahead of New York’s opening the gold price was trading at $1,073.00 and in the euro at €1,007.13. Full Story
New York closed at $1,070.60 down from $1075.40. In Asia prices were lifted to $1,172. 45 as the dollar slipped slightly, still below 100 on the dollar index. The LBMA price setting fixed it at $1,072.50 up 30 cents on yesterday’s LBMA price setting. The dollar Index did not make it through the 100 level and now stands at 99.82 down from 99.96 yesterday. The dollar is at $1.0615 down from $1.0593 against the euro. In the euro the fixing was €1,008.81 down from yesterday’s €1,012.23. At London’s afternoon gold was trading in the dollar at $1,073.00 and in the euro at €1,010.74. Full Story
Time and time again over the last number of years the largest global banks have been found complicit in the manipulation of key rates, indices and markets. Now, a large and important pension fund has taken the largest of banks to task and filed a class action lawsuit alleging conspiracy to thwart competition and extract large fees and margins from the vast and critical interest rate swap market. The banks “have been able to extract billions of dollars in monopoly rents, year after year, from the class members in this case,” the suit states. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 November, 2015
Gold dipped $6.82 to $1068.58 at about 10AM EST before it bounced back higher in the next couple of hours of trade, but still ended with a loss of 0.45%. Silver dropped down to $14.044 in early New York trade, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.14%. Full Story
Demand for gold is soaring according to the World Gold council’s latest report. The report shows that overall worldwide demand for gold rose by a very significant 33% with the US, Europe, China and Russia all stocking up and pushing demand. Central bankers, lead by Russia, are stocking up aggressively. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 November, 2015
New York closed at $1,075.40 up from $1,068.70. In Asia prices were lifted to $1,180 as the dollar slipped. The LBMA price setting fixed it at $1,072.20 down from $1,073.00. The dollar Index is just about to break through the 100 level and stands now at 99.96 this morning up from 99.42 yesterday morning. The dollar is at $1.0593 down from $1.0621 against the euro. In the euro the fixing was €1,012.23 up from yesterday’s €1,007.13. Ahead of New York’s opening gold was trading in the dollar at $1,074.55 and in the euro at €1,014.40. Full Story
By: Chris Mullen, Gold-Seeker.com - 24 November, 2015
Gold gained $12.25 to $1080.95 at about 8AM EST before it chopped back lower, but it still ended with a gain of 0.63%. Silver rose to as high as $14.31 and ended with a gain of 0.43%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 November, 2015
New York closed at $1,068.70 down from $1,077.20. In Asia prices were lifted to $1,171.65 as the dollar’s rise paused. The LBMA price setting fixed it at $1,073.00 up from yesterday’s $1,068.35. The dollar Index is almost unchanged at 99.78 this morning. The dollar is at $1.0621 up from $1.0625 against the euro. In the euro the fixing was €1,007.13 up from yesterday’s €1,005.008. Ahead of New York’s opening gold was trading in the dollar at $1,075.15 and in the euro at €1,008.91. Full Story
Why does the lack of liquidity in bond markets have many of the world’s top economic opinion-makers worried? Ben Wright writing in the Telegraph reports on the voices in “the chorus of doom” and explains why the evaporation of this liquidity in the global fixed income market signals “a warning shot across the bow”. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 November, 2015
Gold dropped $10.29 to $1066.91 in early New York trade before it bounced back to $1073.60 by a little after 9AM EST and then drifted back lower again into the close, but it ended with a loss of just 0.79%. Silver slipped to as low as $13.92 before it rebounded to $14.202 and then also fell back off, but it ended with a loss of just 0.28%. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 23 November, 2015
So, we are in a currency war of note! Who will pull the dollar down? The U.S. will have to, as it is damaging the U.S. economy and all the more so, if it rises further. In that case gold will follow other currencies down but then the damage done will call for a reassessment of the value of gold. The nearest parallel we have to this scene is in 2008 when gold fell to its bottom before moving to its peak of $1,921. Why, at that time, did the gold price then rise? Because of fears of a collapse of the financial system! Full Story
The fact that global debt is growing throughout the world is widely acknowledged and well documented. However, when faced with the numbers, the magnitude of the problem is still quite shocking to read. An article last week in Washington’s blog gives us a stark and timely reminder of those facts. The volatile geo-political environment we are entering into, coupled with this growth-stifling debt, makes for a dangerous economic combination. Full Story
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