Gold fell $5.78 to $1331.22 in late Asian trade, but it then climbed back higher for most of the rest of the day and ended near its late session high of $1354.96 with a gain of 1.07%. Silver rose to as high as $20.397 and ended with a gain of 0.59%. Full Story
The Trump and Clinton election is set to be one of the “ugliest” and “messiest” U.S. elections ever, astute gold analyst Frank Holmes warned this week. He believes this is a reason to own gold and will be one of the factors that will see a resumption of gold’s bull market after the summer doldrums which we explore below. Full Story
Gold edged up to $1344.92 by a little after 8AM EST before it fell back to $1332.61 by early afternoon in New York, but it then bounced back higher into the close and ended with a loss of just 0.33%. Silver slipped to as low as $20.101 and ended with a loss of 0.79%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 July, 2016
The report from the Fed was positive on the U.S. economy but not so positive as to indicate September could see a rate hike. Why not? Most U.S. observers are riveted on the U.S. economy in isolation from the rest of the world. But that is myopic. The Fed has made it clear that the global economy does affect the U.S. economy. The dollar exchange rate does affect the U.S. economy and cannot be ignored or removed from the formula that defines when a rate hike will occur. Full Story
Gold bullion was up 1.6% and silver surged 3.7% yesterday, their second consecutive day of gains, after U.S. durable-goods orders dropped sharply, adding to speculation that Federal Reserve policy makers will maintain ultra loose monetary policies. Gold and silver consolidated on those gains in Asia and in early European trading. Full Story
Gold jumped $8.82 to $1328.62 after this morning’s economic data before it initially dived back towards unchanged following the release of the fed’s policy statement, but it then stormed back higher into the close and ended near its last minute high of $1341.76 and ended with a gain of 1.64%. Silver climbed to as high as $20.402 and ended with a gain of 3.77%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 July, 2016
Not only is the FOMC meeting today but the markets are expecting an announcement from the Bank of Japan shortly, telling us that they will add more stimuli to their economy. We have no doubt that the B o J is hoping this will weaken the Yen as well as make another attempt to contain structural deflation in the country. We expect both central banks announcements to be good for gold and silver. Full Story
Faber said rates are so low that investors can’t make money in bonds so they keep buying stocks even though the prices are very inflated. Central banks want rising stock prices to make people feel wealthy and therefore spend their money, but the end result is income inequality and investor resentment, he said. Full Story
Gold gained $9.27 to $1323.37 in Asia before it chopped back lower at times, but it still ended with a gain of 0.43%. Silver rose to as high as $19.723 and ended with a gain of 0.67%. Full Story
– Gold’s performance so far in 2016 – +25% in USD, +25% in EUR and +40% in GBP – Gold acting as a hedge against fiat currencies – “Could not invent a more bullish story for gold” – Economic recoveries are tentative and leading to ultra loose monetary policies – A lot of strong fundamentals including negative interest rates, polarisation of politics and “Clash of Civilisations” Full Story
Gold fell $10.85 to $1312.65 by midmorning in New York before it climbed back to almost unchanged in early afternoon trade, but it then fell back off again into the close and ended with a loss of 0.71%. Silver slipped to a low as $19.312 and ended with a loss of 0.66%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 July, 2016
Shanghai prices were lower than at New York’s close, while London tried to pull prices lower at the opening and thereafter. A strengthening dollar is at the heart of the weakness in gold and silver prices. We do not believe the dollar will get that much stronger and echo the opinion that the dollar is unlikely to rise higher than $1.07 against the euro. This helps to explain the limited Technical downside to gold prices. Full Story
Gold is in a bull market for a number of reasons including political risk and there is “every reason for it to continue” according to Dominic Frisby writing in the UK’s best selling financial publication Money Week. He points out that “one of the reasons to own gold is as a hedge against government.” He warns that increasing political risk, as seen with Brexit, is on the horizon with the U.S. election and the rise of Trump and Clinton and indeed elections in the two largest economies in the EU. Full Story
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