By: Chris Mullen, Gold-Seeker.com - 27 September, 2013
Gold dipped down to $1321.25 at about 5:30AM EST before it jumped up to $1343.75 in the next 3 hours of trade and then pared back to $1333.38 in the following hour, but it then chopped back higher into the close and ended with a gain of 0.93%. Silver slipped to as low as $21.46 in late Asian trade before it shot up to $22.10 and then fell back to $21.70, but it still ended with a gain of 0.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 September, 2013
New York closed at $1,323.70 yesterday, only $1.50 different from last Friday. Asia and London lifted it $2 ahead of the Fix. It then Fixed at $1,321.50 almost the same as Monday. In the euro it Fixed at €978.454, again almost the same as Monday with the dollar steady at lower levels. Ahead of New York’s opening gold was trading at $1,324.05 and in the euro at €980.96. Full Story
While data has been mixed lately, some important data points have been negative including purchases of second hand homes which fell for the third straight month in August. The misguided speculation regarding Fed tapering has begun again. A Bloomberg survey of 41 economists last week showed 24 expect the Fed will pare ‘stimulus’ in December. None of these same economists predicted that the Fed would not taper last week and their views on tapering should be taken with a pinch of salt. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 September, 2013
Gold edged up to $1339.17 in late Asian trade before it fell to as low as $1318.60 in early afternoon New York trade and then bounced back higher in the last four hours of trade, but it still ended with a loss of 0.7%. Silver climbed to $22.086 before it fell back to $21.63 and then also bounced back higher, but it still ended with a loss of 0.28%. Full Story
The WHOLESALE price of gold and other precious metals touched 4-session highs Thursday morning in London, after US Treasury secretary Jack Lew warned yesterday that the government will run out of money in just 3 weeks' time if Congress doesn't approve new debt. Full Story
Gold and silver have consolidated on yesterday’s gains and silver is up nearly 1% to $22/oz. Both rose yesterday for the first time in four sessions on fears that U.S. budget negotiations have stalled, increasing the risk of a U.S. government shutdown. While a shutdown is unlikely, the politicians are likely to again raise the U.S. debt ceiling to close to $18 trillion, storing up much greater problems for the U.S. and global economy in the long term. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 September, 2013
Gold climbed $7.20 to $1329.70 in Asia before it fell to see a $5.66 loss at $1316.84 in London, but it then shot to as high as $1337.90 in New York and ended with a gain of 0.8%. Silver slipped to as low as $21.469 at about 8:45AM EST, but it then climbed to as high as $21.929 in the next four hours of trade and ended with a gain of 0.51%. Full Story
WHOLESALE gold held unchanged in London on Wednesday, moving around last week's finish of $1325 per ounce as world stock markets and the US Dollar also reversed yesterday's small moves. Silver traded in a 15-cent range either side of $21.70 per ounce. Major government bonds were flat. Crude oil and industrial commodities ticked higher. Full Story
Gold’s support is at $1,300/oz and a fall below that level could see gold test the next level of support at the $1,180/oz to $1,200/oz mark. Resistance is at $1,400/oz to $1,434/oz level and a breach of resistance should see gold quickly test the $1,500/oz level (see chart below). Physical demand in Asia is down from the huge levels seen in recent months but remains robust heading into the peak wedding and festival season in India and China. Bargain hunting was seen again yesterday with prices close to $1,300/oz. Full Story
By: Chris Mullen, Gold-Seeker.com - 24 September, 2013
Gold saw modest gains in Asia before it fell to see an over 1% loss at $1306.07 at about 9AM EST, but it then rallied back higher in several sharp spurts at various times throughout the rest of trade and ended with a gain of 0.11%. Silver slipped to as low as $21.299 before it also rallied back higher and ended with a gain of 0.42%. Full Story
The PRICE of wholesale gold retreated to yesterday's low at $1315 per ounce in London trade Tuesday morning, drifting down as world stock markets and commodity prices also slipped. The US Dollar extended its rally on the FX market, nudging the Euro back towards 1-week lows beneath $1.3450. Full Story
Gold inched down this morning as the short term trend remains lower after the surprise and unusual price falls seen last Friday dampened renewed positivity after the ‘taper caper’. Gold appears likely to test support at the $1,290/oz to $1,300/oz level again this week - possibly today or tomorrow when there is a COMEX futures option expiration. Full Story
By: Chris Mullen, Gold-Seeker.com - 23 September, 2013
Gold edged up to $1331.70 at about 3:30AM EST before it fell back to $1316.10 at about 6AM and then bounced back higher in New York, but it then dropped back off in the last four hours of trade and ended with a loss of 0.32%. Silver climbed to as high as $21.901 at about 11AM EST, but it then fell back off in the last couple of hours of trade and ended with a loss of 0.37%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 September, 2013
New York closed at $1,325.30 on Friday a sharp turn down from the day before. Asia and London held it there ahead of the Fix. It then Fixed at $1,321.75 down $41.75 from its weekly peak. In the euro it Fixed at €978.712 down €27 from its weekly peak as the dollar remained at weak levels. Ahead of New York’s opening gold was trading at $1,321.00 and in the euro at €977.76. Full Story
BOTH the price of gold and silver recovered early losses Monday morning in London, regaining a 1% and 2% drop respectively as world stock markets slipped with commodities. German Bunds held flat, but the Euro currency dropped half-a-cent to a 3-session low after Angela Merkel was returned as German chancellor in national elections. Full Story
Gold has been up and down in choppy trading in London today as investors digest the U.S. Fed's decision to wait on tapering until perhaps next month. Comments on Friday from James Bullard, the St. Louis Federal Reserve Bank President affected the markets. He said, “a reduction of the Fed's $85 billion monthly bond purchase program beginning in October was possible and that the Fed can be patient in deciding when to scale back its pace of asset purchases”. Full Story
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