By: Chris Mullen, Gold-Seeker.com - 29 August, 2014
Gold waffled near unchanged for most of trade in Asia before it spiked down to $1283.65 at about 4:45AM EST and then jumped back to $1291.34 by midmorning in New York, but it then drifted back lower into the close and ended with a loss of 0.16%. Silver slipped to as low as $19.452 and ended with a loss of 0.26%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 August, 2014
The gold price closed at $1,289.30 up $7.30 on Thursday’s level in New York. In Asia and London, gold prices were slightly higher in both the dollar and the euro. The gold price was Fixed at $1,292.00 up $4.00 and in the euro at €980.943 up €5.407, while the euro was weaker at $1.3171. Ahead of New York’s opening, gold was trading at $1,285.60 and in the euro at €974.79. Full Story
Gold has risen 0.3% this week and a fourth day of advances would be the longest rally since June. If gold closes above $1,282/oz today it will be a higher monthly close for August which will be positive as we had into gold's seasonal sweet spot and gold’s strongest month September. Gold has bounced from a two-month low of $1,273.14 on August 21 due to the renewed geopolitical tension as the U.S. condemned what they said were incursions by Russia into Ukrainian territory.Gold remains on course to end two weeks of losses, as escalating tension between NATO and Russia and other geopolitical risks lead to safe haven demand. Full Story
By: Chris Mullen, Gold-Seeker.com - 28 August, 2014
Gold rose $14.33 to $1296.33 at about 8:30AM EST before it pared back to $1287.37 in the next couple of hours of trade, but it then bounced back higher in afternoon trade and ended with a gain of 0.57%. Silver surged to as high as $19.851 and ended with a gain of 0.46%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 August, 2014
The gold price closed at $1,282.00 down $0.40 on Wednesday’s level in New York. In Asia and London, gold prices were slightly higher in both the dollar and the euro. The gold price was Fixed at $1,288.00 up $3.00 and in the euro at €975.536 up €0.574, while the euro was stronger at $1.3202. Ahead of New York’s opening, gold was trading at $1,290.90 and in the euro at €978.99. Full Story
In just three months, on November 30, the Swiss will vote in a federal referendum on the future of the country’s gold reserves. The referendum has arisen through a popular initiative called ‘Save our Swiss gold initiative’. In Switzerland, citizens can propose changes to the Swiss constitution through a mechanism called a popular initiative, even if parliament is against the proposal. Full Story
Traders will now be taking positions for next week’s US August nonfarm payrolls and key central bank meetings over the next two weeks. The summer trading period is coming to an end. Trading volumes as well as intraday volatility will rise in gold, silver and copper in September. Indian demand for gold and silver will be high in September. Full Story
By: Chris Mullen, Gold-Seeker.com - 27 August, 2014
Gold edged up to $1287.27 at about 6:20AM EST before it fell back to $1281.30 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a loss of just 0.03%. Silver rose to as high as $19.505 and ended with a gain of 0.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 August, 2014
The gold price closed at $1,282.40 up $6.20 tonnes on Tuesday’s level in New York. In Asia and London, gold prices jumped to $1,285 as the dollar strengthened as the euro slipped $1.3178. The gold price was Fixed at $1,285.00 down $1.50 and in the euro at €974.962 up €0.2, while the euro was weaker at $1.3180. Ahead of New York’s opening, gold was trading at $1,286.30 and in the euro at €975.76. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 August, 2014
Gold climbed $14.30 to $1290.50 by a little after 8AM EST before it pared some gains in New York trade, but it still ended with a gain of 0.49%. Silver surged to as high as $19.674 and ended with a gain of 0.15%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 August, 2014
The gold price closed at $1,276.2 down $4.20 tonnes on Monday’s level in New York. In Asia and London, gold prices jumped to $1,289 as the dollar held new levels but the euro continued to slip slightly to $1.3193. The gold price was Fixed at $1,286.50 up $9.25 and in the euro at €974.769 up €10.588, while the euro was weaker at $1.3198. Ahead of New York’s opening, gold was trading at $1,287.40 and in the euro at €974.86. Full Story
The IMF’s latest international gold reserves data, updated yesterday, shows that in July, Russia raised its official gold reserves to 35.5 million ounces (1,104 tonnes). This confirms data released last week by the Central bank of the Russian Federation, which reported an increase of over 300,000 ounces from June’s 35.197 million ounces figure. IMF data is reported with a one month lag. Full Story
China and India are the biggest consumers of gold and silver. Their demand has fallen due to a slowing economy and better alternate investment elsewhere. I expect a pickup in Chinese and Indian gold and silver demand between September and February 2014. Gold and silver are fundamentally bearish for now. Unless there is a sustained recovery in Asian (excluding Middle East) demand, there will be blips of big spikes in prices with an overall bearish trend. Full Story
By: Chris Mullen, Gold-Seeker.com - 25 August, 2014
Gold dipped down to $1274.40 in early Asian trade before it popped back to $1280.75 in London and then drifted back lower by late morning in New York, but it then bounced back higher in early afternoon action and ended with a loss of just 0.33%. Silver slipped to as low as $19.333 and ended with a loss of 0.56%. Full Story
In this Weekend Report there are so many charts I want to show you it’s hard to know where to start. It seems like we have entered a critical inflection point in both the stock markets and the precious metals complex. These inflection points can last for awhile before they show their hand but it’s important to know one exists so we can take advantage of the situation. I’m fully aware that the stock markets are entering the most dangerous time of the year as they move into September. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 August, 2014
The gold price closed at $1,280.4 up $3.30 on Friday’s level in New York. In Asia and London, gold prices slipped to $1276 as the dollar strengthened to $1.2305. The gold price was Fixed at $1,277.25 down $3.75 and in the euro at €964.181 down €0.936, while the euro was weaker at $1.3247. Ahead of New York’s opening, gold was trading at $1,278.30 and in the euro at €968.48. Full Story
Gold fell immediately on the open on the NY Globex, from $1,280.40/oz to $1,275/oz after trading was suspended due to “technical issues”. Gold ticked $2 higher in trade in London after gold in Singapore drifted marginally lower. Gold’s support is at the June lows at $1,242/oz which gold may test this week due to still low holiday volumes. Full Story
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