By: Chris Mullen, Gold-Seeker.com - 29 November, 2013
Gold gained $7.17 to as high as $1245.17 in holiday thinned trade yesterday before it fell back to $1241.04 in Asia today, but it then climbed to a new high of $1254.79 in late morning New York trade and ended with a gain of 1.07% from Wednesday’s close. Silver surged to as high as $20.087 and ended with a gain of 1.58%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 November, 2013
The gold price in New York dropped to $1,237.50 but was lifted to $1,242 in Asia. London did the same right up to the Fix where it was set at $1,245.25 up $3.50. In the euro it Fixed at €915.228 up €1.11. Ahead of New York’s opening the euro stood at $1.3610: €1 with gold at $1,247.40 and in the euro at €916.53. Full Story
WHOLESALE London prices for gold pushed higher in quiet trade Friday morning, on course for the largest November drop since 1978 in US Dollar terms. Down 5.9% from the last London Fix of October, Dollar gold this morning touched $1249 per ounce. That would be the lowest monthly finish since June's 3-year low. Full Story
Contrary to frequent assertions, recent losses are unlikely to be due to the continual concerns of ‘tapering’. The U.S. Fed policy minutes released on November 20 suggested that an improving economy would warrant trimming debt purchases in the coming months. While U.S. economic data this week showed jobless claims unexpectedly decreased, the data has been mixed at best and the U.S. economy continues to struggle. Full Story
The recent consolidation phase in gold and silver will be broken anytime soon. Be prepared for very big moves in gold and silver anytime. Gold still needs to break and trade over $1258 for further gains. Silver still needs to break and trade over $1986 for further gains today. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 November, 2013
The gold price in New York fell to the $1,240 level with Asia holding it there overnight. London did the same right up to the Fix where it was set at $1,241.75 down $9. In the euro it Fixed at €913.119 down €6.685. Ahead of New York’s opening the euro stood at $1.3596: €1 with gold at $1,241.40 and in the euro at €913.14. Full Story
WHOLESALE gold rose in price in London trade Thursday, recovering last week's finish of $1243 per ounce to stand some 0.6% above an overnight low. Asian and European stock markets also rose following Wall Street's new record-high finish before today's Thanksgiving holiday. Full Story
Gold is higher today as huge demand from China is believed to be supporting prices. China has seen a notable pick up in demand this week due to lower prices. Traded volumes of 99.99 percent purity gold on the Shanghai Gold Exchange hit 18.3 tonnes overnight, their highest since October 8, according to Reuters data. Full Story
Gold and silver are looking bearish at the moment and have room to fall further. The rise in bitcoin prices over $1000 is luring more and more new investors to look at bitcoin as an investment. I think 2013 could mark the beginning of a new currency which is not controlled by central banks. Different forms of electronic money will be here to stay. Full Story
By: Chris Mullen, Gold-Seeker.com - 27 November, 2013
Gold climbed $12.40 to $1254.50 at about 5AM EST, but it then fell back off for most of the rest of trade and ended near its late session low of $1236.33 with a loss of 0.33%. Silver slipped to as low as $19.63 and ended with a loss of 0.86%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 November, 2013
The gold price in Asia held at the $1,245 level overnight but began to rise [to $1,248] ahead of the Fix where it was set at $1,250.75 exactly the same as yesterday. In the euro it Fixed at €919.804 down €4.077 as the dollar weakened. Ahead of New York’s opening the euro stood at $1.3601: €1 with gold at $1,253.00 and in the euro at €921.26. Full Story
EDGING BACK from 1.0% overnight gains, gold briefly dipped below $1250 per ounce in London on Wednesday morning, as world stock markets ticked higher. Major government bonds slipped, but Spanish bonds rose in price, nudging 2-year yields down to their lowest level since 2009 following unsourced comments in a German newspaper that the European Central Bank is considering a new round of long-term asset purchases. Full Story
Gold is higher today in London. There is speculation that lower prices, which fell to a four-month low, will lead to increased physical demand. Prices fell to $1,225.55/oz on Monday after another massive sell order led to trading being suspended for 20 seconds for the third time in less than a week. $1,225.55/oz was the lowest since July 8. Full Story
US thanksgiving sales over the weekend and next week’s US November nonfarm payrolls could set the short term direction of the US dollar and bullion. A better than expected thanksgiving sale will result in higher expectations of an early tapering and vice-versa. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 November, 2013
Gold climbed $9.04 to $1257.84 in early Asian trade before it fell back to $1239.71 by early afternoon in New York, but it then bounced back higher into the close and ended with a loss of just 0.54%. Silver climbed to as high as $20.313 in Asia, but it then fell to as low as $19.80 in New York and ended with a loss of 0.85%. Full Story
AN OVERNIGHT RALLY in gold evaporated in London trade Tuesday, pulling the metal back to last week's closing level of $1243 per ounce. "Gold's rally over the past 24 hours," said a note from bullion and investment bank Standard Bank earlier, "we ascribe to small-scale short-covering" by bearish traders closing their positions. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 November, 2013
Last night and in Asia, the gold price rose, despite its pointing down on the charts. It was at $1,253 in Asia ahead of London’s opening ahead of the Fix where it was set at $1,250.75 up $19. In the euro it Fixed at €923.881 up 11.924 reversing yesterday’s fall. Ahead of New York’s opening the euro stood at $1.3512: €1 with gold at $1,252.55 and in the euro at €924.35. Full Story
Gold was trading near a one-week high today and is turning higher for the week, due to short-covering gains and the market questioning the Iran deal. Comex had to suspend gold futures trading yesterday again - again for 20 seconds due to a massive sell order that led to just a $10 price fall. Full Story
There is profit taking in stock markets as well as commodity markets which has resulted in the current rise. Traders and investors are booking profits in gold and silver short positions which has contributed to the rise. There is not much news at the moment. The Iranian hype is over for gold and silver bears. In case gold and silver fall further today and/or stay firm then it can rise to $1276-$1296 (gold) and $2140 (silver). We prefer a buy on dips strategy as long as gold trades over $1215 and silver trades over $1936 for the rest of the week. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 November, 2013
Gold fell $15.56 to $1227.64 at about 8:30AM EST, but it then climbed to as high as $1252.47 in afternoon New York trade and ended with a gain of 0.45%. Silver surged to as high as $20.082 and ended with a gain of 0.25%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 November, 2013
This issue is the first since 15th and so is a weekly report. On Friday gold closed weaker at $1,243.20 down $44.50 on the previous Friday in New York. Asia let it slide another $12.10 cents before London held it there ahead of the Fix where it was set at $1,231.75 down $50 on a week ago in London. In the euro it Fixed at €911.957 down €41.442 on a week ago. Ahead of New York’s opening the euro stood at $1.3512: €1 with gold at $1,231.40 and in the euro at €911.34. Full Story
LAST WEEK's losses of 3.6% in gold were extended Monday morning, with silver also falling again as world stock markets rose yet again. Priced in Dollars, gold dropped below $1230 per ounce for the first time since the first week of July. Silver added to last week's 4.5% drop against the Dollar to hit 3-month lows at $19.61. Gold in British Pounds fell to new 39-month lows beneath £760 per ounce. Full Story
Gold initially ticked slightly higher in Asia overnight after the U.S., China, Russia, the UK, France and Germany reached an agreement with Iran yesterday to limit Iran’s nuclear programme. The agreement allows for the easing of sanctions on trading gold with Iran. This has prevented Iran from diversifying into gold in recent months. Full Story
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