By: Chris Mullen, Gold-Seeker.com - 29 April, 2016
Gold gained $28.66 to $1296.56 by late morning in New York before it edged back lower at times, but it still ended with a gain of 1.97%. Silver rose to as high as $17.951 and ended with a gain of 1.31%. Full Story
The silver miners showed impressive fundamental strength during 2015’s grim fourth quarter. That was the worst silver suffered in many years, a perfect-storm trough with major secular lows fueling extreme bearish sentiment. Traders feared this entire industry faced an existential threat, so they fled in terror from silver stocks. But silver miners’ strong operational performances aced that severe trial with flying colors. Full Story
Gold is in the final phase of the baby bull rally. This is the stage that causes maximum pain for shorts that were unable to recognize that the bear market is over, or tried to sell short (I warned and warned traders not to short a baby bull). Full Story
Francine generously acknowledged how Rickards was “bullish on gold for quiet some time and actually you have been proven right … it is the chart of the decade”. She said that this “has to do with inflation expectations, it has to do with currency but it is really at the end of the day just a haven so people pile into it – as much as they do yen …” Full Story
By: Julian D. W. Phillips, Gold Forecaster - 29 April, 2016
The Shanghai Gold Fixings today show a real rise in the price of physical gold as the number of the Yuan in dollars rose [weakened] so currency moves were not a factor today. The rise in the gold price has held in London ahead of the LBMA gold price setting. Full Story
By: Chris Mullen, Gold-Seeker.com - 28 April, 2016
Gold climbed higher throughout most of world trade and ended near its late session high of $1269.49 with a gain of 1.78%. Silver rose to as high as $17.636 and ended with a gain of 2.21%. Full Story
We believe that gold and silver have had healthy periods of correction and consolidation. Both are more than 20% higher so far in 2016. We believe they should continue rising again in 2016 and in the coming years due to the considerable macroeconomic, systemic, geopolitical and monetary risks of today. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 28 April, 2016
The Shanghai Gold Fixings are now showing just how currency moves are affecting the gold price. Overnight the dollar has weakened in a host of currencies including the Yuan. Please note that this rise in the gold price is not Yuan strength but dollar weakening. As a result, while there were only slight moves inside China in the Yuan gold Price, in dollar terms the moves were compounded by the weak dollar. Full Story
A breakout above the 208 area will put the next area of resistance on the map at 250 or so which would happen fairly quickly as the decline back in 2014 was pretty steep. If the HUI fails to breakout right here at 208 then support will show up at the previous high at 182 or so. Full Story
While the GDX did not strike its upside resistance, it may have come close enough to consider it having topped. The question now is how do we view the coming “correction.” Full Story
“There are signs that this year could be a pivotal year for the silver market,” New York-based CPM Group said in its “Silver Yearbook 2016.”
“Silver mine supply is forecast to decline for the first time in 2016, since 2011,” CPM said, noting scheduled closures and planned production cutbacks. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 27 April, 2016
At the start of the week the Shanghai Gold Fixings were higher than those in London, but today we see them very much in line with New York, transitioning into London’s opening. So we can say that at the start of the process it appears that there is a ’24-hour market’ for gold. Time will tell if this continues and how the pricing power changes. Full Story
Given these real risks, tangible gold becomes not important but a vital means of preserving wealth. Physical gold coins and bars, due to their tangible nature, are not vulnerable to crises that may afflict electronic digital currency and other digital wealth.
Those who hold physical gold and silver coins and bars outside the banking system as an insurance policy would certainly weather the storm better than those who do not. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 26 April, 2016
Today, the FOMC meets with little prospect if any, of a rate rise. The focus is on the statement that comes out of the meeting tomorrow. What we all are fully aware of is that the Fed does not want to see a stronger dollar. Indeed it would prefer to see a weaker dollar. Currently the policies of the E.U. and Japan, no matter what they say are designed to weaken their respective currencies. Full Story
The odds are starting to favor a top in the euro and bottom in the dollar. Patience with gold is required. I don’t anticipate the next good buying opportunity in the precious metals sector until probably June. Full Story
If gold is showing some signs of abundance, silver is practically lying about in the marketscape. To carry silver for July delivery yields an annualized profit of over 1.1%. The flow of metal into the carry trade must be a torrent. If anything occurs that will stun the silver faithful, it will be the epic drop in the silver price. This will be decried as a smashdown. Full Story
It stretches across more than 300,000 square feet under the City, the finance quarter in the heart of Britain’s capital. There, beneath the pavement and commuters of Threadneedle Street, lies a maze of eight Bank of England gold vaults – each stacked with gold bars worth a total sum of around £141 billion ($200 billion). Full Story
By: Julian D. W. Phillips, Gold Forecaster - 25 April, 2016
The gold price is being pulled back not only by a weaker euro but by the upcoming FOMC meeting and that of the Bank of Japan. We do not expect any rate change from the FOMC but continued talk of how vulnerable the U.S. economy is to the global economy and a strong dollar. We expect that for the remainder of the year the Fed will be keenly watching U.S. data and will react to any strengthening of the Dollar negatively. Full Story
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