This bottom is going to be too complex to time perfectly, and even if it did bottom on February 20th it’s already shown that it can still throw most people off just by chopping back and forth for a month. Maybe that chop has finally ended. Maybe the daily cycle is still going to make one more trip below $1600. I’ll let others compete to see who can second guess the next wiggle in the precious metal markets. All I can say is that the signs are there. Save your head the abuse two years from now and pay attention to them. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 March, 2013
Gold closed in New York at $1,604 yesterday. In Asia and London it traded down slightly to $1,601 ahead of the Fix in London which was at $1,602.5 and in the euro at €1,253.128, while the euro was at €1: $1.2788. Ahead of New York’s opening it traded at $1,600.80 and in the euro at €1,249.75. Full Story
The GOLD PRICE slipped back to $1600 per ounce Thursday morning in London, heading into the 4-day Easter weekend 1.3% higher from the start of March. Silver bullion was flat for the month at $28.65 after recovering yesterday's sharp 2.3% drop. Full Story
Gold continues to consolidate above $1,600 an ounce today supported by widespread concerns that the expropriation of Cyprus deposits could become a blueprint for solving banking crises in the Eurozone. Full Story
Some of the Federal Reserve officials yesterday commented that quantitative easing will not be rolled in by the near term. This has already been discounted in by the markets. No one is surprised by such comments as investors know that central bank obsession by QE is here to stay. Gold and silver are rising as people are fleeing from the euro which in turn has revived investment interest in gold. Full Story
Credit Suisse are bullish on the PGM’s of platinum and palladium. They favour them over gold and silver as they say that they are more cyclical and less dependent on investment flows. Therefore they believe that there is more upside likely for platinum and palladium.
We believe that due to the very favourable supply demand dynamics in the platinum market, it should rise well above the inflation adjusted record high from 1980 at $2,700/oz in the coming years from $1,571/oz today. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 27 March, 2013
The Gold Forecaster has been forecasting the advent of Capital & Exchange Controls for several years. They have arrived in the developed world now. As part of the Eurozone the trouble really started in Greece, where the loss of up to 75% effective on Greek Bonds devastated the holdings of Cypriot Banks. This is why this healthy cash-rich nation hit the wall. As part of their ‘bailout’ Cyprus is imposing Capital Controls, but using a currency that is far too strong for the mauled nation. This implies that the currency controls that are to be imposed will have to be far stronger and imposed for a long time if they are to be effective. Full Story
WHOLESALE gold bullion prices fell as low as $1591 an ounce Wednesday morning, extending losses from a day earlier following news of Cyprus's bailout as well as positive US economic data. Data published Tuesday showed better-than-expected growth in US durable goods orders for February, as well as 8.1% year-on-year house price growth for January as measured by the Case-Shiller Indices – the strongest year-on-year house price growth since 2006. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 March, 2013
Gold dropped down to $1594.50 by a little before 10AM EST, but it then bounced back higher into the close and ended with a loss of just 0.33%. Silver slumped to as low as $28.62 and ended with a loss of 0.38%. Full Story
Hong Kong Shares were able to throw off early weakness to finish minimally higher, as earnings from the property sector countervailed weakness in mainland shares, which in turn were off initially because of fears of new share issuance ahead. European shares were higher to start today, as quarter end window dressing might have lifted some shares overnight, but the Cyprus situation still appears to be discouraging some investors. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 March, 2013
The gold closed in New York at $1,604.40 yesterday. In Asia and London it traded then down slightly to $1,602.55 then it Fixed lower at $1,597.25 and in the euro higher at €1,241.354, while the euro was $1.2867. Ahead of New York’s opening, gold was $1,598.55 and in the euro at €1,242.22. Full Story
U.S. DOLLAR prices to buy gold dipped back below $1600 per ounce Tuesday morning in London, though it remained above yesterday's low hit following news of the Cyprus bailout, while stocks and commodities were broadly flat and US Treasury bonds dipped. Full Story
Gold is slightly lower in most major currencies this morning and to the surprise of most market participants has fallen below the $1,600/oz level again. The president of Cyprus has announced "very temporary" capital controls, such as a continuation of a deposit withdrawal restriction of €100 per day, to stem a run on the island's banks. The history of capital controls shows that once introduced they can remain for longer than wanted. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 March, 2013
Gold dropped $17.60 to as low as $1590.00 by about 8:30AM, but it then rallied back higher throughout most of the rest of trade and ended with a loss of just 0.2%. Silver slipped to as low as $28.49 in early New York trade, but it then rose to as high as $28.897 in late morning trade and ended with a gain of 0.41%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 March, 2013
The gold closed in New York at $1,607.60 on Friday. In Asia and London it traded then down until it Fixed at $1,602.25 and in the euro at €1,232.974, while the euro was $1.2995. Ahead of New York’s opening, gold was $1,603.35 and in the euro at €1,233.63. Full Story
U.S. DOLLAR gold prices fell back below $1600 per ounce Monday morning in London, falling back towards where they started last week, as stocks and commodities gained after news that Cyprus has agreed a bailout deal. Full Story
Gold is slightly lower in most major currencies this morning but remains near 4 week highs, underpinned by safe haven demand. Gold is flat in yen terms with the Japanese currency falling again today. Full Story
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