Gold waffled between $1180.26 and $1211.89 in Asia before it fell back to $1187.58 at about 10AM EST, but it then screamed back higher for most of the rest of trade and ended near its late session high of $1233.12 with a gain of 2.76%. Silver surged to as high as $19.64 and ended with a gain of 6.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 June, 2013
New York closed at $1,199.10 down another $25 yesterday. Asian demand came in and lifted it to $1,205. London held it there until the Fix where it was set at $1,203.25 down $18.75 and in the euro at €921.889 down €23.60 while the dollar was slightly weaker against the euro at €1: $1.3052. Ahead of New York’s opening gold stood at $1,202.02 and in the euro at €920.19. Full Story
GOLD and SILVER both bounced in London trade Friday, only to slip back again after recording new 34-month lows overnight. Asian stock markets closed higher but European equities slipped. The major currencies held steady, and government bonds were flat overall, as were commodities. Full Story
Gold has inched up this morning after it dropped under $1,200/oz yesterday, which triggered stop loss selling and additional pressure from funds quarter end selling. Although bargain physical buyers in the Middle East and Asia continue to scoop up gold, it has not been enough as of yet to put a floor under prices. Full Story
Momentum is bearish for gold and silver while technically oversold conditions exist. I hope just a weaker US dollar will lend support to gold and silver prices. Comments from Federal Reserve officials to soothe the US bond markets have failed to impact gold and silver. Full Story
Gold climbed $20.80 to $1244.90 in Asia before it fell back to $1224.00 in London and then bounced back higher in morning New York trade, but it then plunged to a new 34 month low of $1196.80 at about 2PM EST and ended with a loss of 2.04%. Silver climbed to $18.971 in Asia and fell to $18.526 in London before it climbed back to $18.901 by noon in New York and then dropped to a new session low of $18.371 in the next two hours of trade, but it then climbed back higher in the final two hours of the day and ended with a loss of just 0.11%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 June, 2013
New York closed at $1,224.10 77, down $52.90 yesterday. Asian demand came in and lifted it to $1,243. London then resumed a slightly weaker posture dropping it to $1,240.00 ahead of the Fix. In London it was Fixed at $1,232.00 up $3 in the euro at €945.51 up nearly €3.00 while the dollar was stronger against the euro at €1: $1.3030. Ahead of New York’s opening gold stood at $1,233.10 and in the euro at €946.03. Full Story
WHOLESALE gold bullion prices fell back towards $1230 an ounce Thursday morning in London, having ticked higher in earlier Asian trading, as stocks and commodities were little changed on the day and the Dollar was also flat after showing little reaction to yesterday's downward revision for US economic growth. Full Story
Gold inched upward today after investors and speculators viewed the recent price falls as excessive and some began to dip their toes back into the market. Gold tumbled to its lowest level in nearly three years yesterday after concentrated selling in electronic trading on the COMEX, less liquid Asian trading Tuesday night that led to stop loss orders being triggered and further price falls. Full Story
Gold fell to as low as $1221.68 by a little before 3PM EST before it bounced back higher in the last hour of trade, but it still ended with a loss of 4.17%. Silver slipped to as low as $18.421 and ended with a loss of 5.46%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 June, 2013
New York closed at $1,277, down $4.80 yesterday. Asia saw it resume its fall after which it accelerated in London where it was Fixed at $1,229.00 down $56 and in the euro at €942.85 down €35.57 while the dollar was stronger against the euro at €1: $1.3035. Ahead of New York’s opening gold stood at $1,232.60 and in the euro at €946.84. Full Story
SPOT MARKET gold fell to its lowest level since August 2010 Wednesday, trading as low as $1224 an ounce, as stocks rallied along with the Dollar following better-than-expected US economic data a day earlier. By Wednesday lunchtime in London, gold in Dollars was trading around 4% down on where it started yesterday's London session. Full Story
Gold was pummelled overnight in Asia when a very large sell trade just after the market opened led to further selling throughout the session and this weakness continued in London this morning. Gold is now at its lowest level in 3 years. Somewhat positive U.S. economic data has again lifted stock markets and speculation that the Fed may decrease its QE over the next few months may be pressuring gold. However, these factors do not justify the scale of gold’s fall. Full Story
Gold edged up to $1289.11 in late Asian trade before it fell back to $1271.60 at about 10:40AM EST and then bounced back higher at times, but it still ended with a loss of 0.39%. Silver rose to as high as $19.85 before it also fell back off, but it ended with a loss of just 0.2%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 June, 2013
New York closed at $1,282, down $12 yesterday. Asia held it there before London picked it up slightly, where it was Fixed at $1,285.00 and in the euro at €979.42 up €0.44 while the dollar was slightly stronger against the euro at €1: $1.3120. Ahead of New York’s opening gold stood at $1,285.00 and in the euro at €978.82. Full Story
PRECIOUS METALS rallied in London on Tuesday morning as European stock markets also bounced with commodity prices. Gold and silver recovered half of yesterday's 1.7% and 3.1% drops respectively. The US Dollar eased back on the currency market, as did major government bond yields. Full Story
Gold is marginally higher today in most currencies. Market participants continue to assess whether the gold price is vulnerable to more falls or is close to bottoming. Recent market turmoil and sharp declines in stock and bond markets may have exacerbated gold’s recent weakness as margin calls led to forced selling of a market that was already under pressure. Central bank reserve diversification should support gold at these very depressed levels. Full Story
Gold fell to as low as $1276.00 at about 1PM EST before it bounced back higher in the next couple of hours of trade, but it then fell back off again in the last hour of trade and ended with a loss of 0.9%. Silver slipped to as low as $19.453 and ended with a loss of 2.14%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 June, 2013
New York closed at $1,294 on Friday. Asia took the price down to $1,281 ahead of London’s opening. In London it was Fixed at $1,283.25 down $7.25 and in the euro at €978.98 up €2.70 while the dollar was slightly stronger against the euro at €1: $1.3101. Ahead of New York’s opening gold stood at $1,283.00 and in the euro at €979.43. Full Story
PRECIOUS METALS fell for the 5th session in six Monday morning in London, with gold retreating to $1280 per ounce as the US Dollar rose and most other tradable assets fell once again. London and Paris' stock markets dropped 2.0% by lunchtime. Commodities also fell, extending their worst 1-week drop since October. Full Story
Traders are the most bearish in 3 1/2 years, with 15 analysts surveyed by Bloomberg expecting prices to fall this week. Six were bullish and five neutral, the largest proportion of bears since January 2010. Gold rose in February 2010 and was 27% higher by year end 2010. Sentiment is as bad as we have seen it in many years which is bullish from a contrarian perspective. Weak hands have been washed out of the market and strong hands are accumulating again on this dip and will continue to do so in the coming weeks. Full Story
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