By: Chris Mullen, Gold-Seeker.com - 30 January, 2015
Gold saw slight gains in Asia and London before it spiked back down to $1256.30 just before the release of this morning’s GDP data, but it then rallied back higher for most of the rest of trade and ended near its last minute high of $1284.53 with a gain of 2.12%. Silver slipped back to $16.814 before it also rallied back higher and ended near its late morning high of $17.313 with a gain of 1.83%. Full Story
Mark Hulbert has a piece this morning at MarketWatch in which he de-correlates the first Fed interest rate hike from any supposedly corresponding stock market movements. I agree with some but not all of what he writes. Let’s take it a chunk at a time. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 January, 2015
New York closed at $1,257.60 down $27.30. In Asia gold rose to $1,262.40. London lifted it slightly higher before the Fix set at $1,263.50 down $12.00 and in the euro, at €1,114.984 down €14.377, while the euro was stronger at $1.1332. Ahead of New York’s opening gold was trading in London better, at $1,263.70 and in the euro at €1,113.24. Full Story
The Greek stock market is down 36% year to date; the risk of global contagion in the event of a Greek exit is very real. Ordinarily such a crisis would require a massive coordinated effort from global stakeholders, perhaps directed by the IMF or some other pan-national financial body. But not in this case; the rhetoric is nationally-based and biased without unity of purpose across finance ministries. Full Story
Even if gold closes over $1230 today, I will consider it a positive sign. However for a big bull run gold needs a daily close over $1263 today as well as next Friday. Gold and silver demand could be postponed if they fall today also. One should use the current correction in silver and further price falls (if any) to invest for the year end. I am staring at another parabolic silver bull run anytime between mid-July and mid-October this year. Full Story
By: Chris Mullen, Gold-Seeker.com - 29 January, 2015
Gold dropped $32.79 to $1252.11 by early afternoon in New York before it bounced back higher into the close, but it still ended with a loss of 2.13%. Silver slipped to as low as $16.739 and ended with a loss of 5.78%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 January, 2015
New York closed at $1,284.90 down $9.20. In Asia gold slipped to $1,280. The Fix saw the gold price set at $1,275.50 down $11.50 and in the euro, at €1,129.361 down €2.565, while the euro was ¾ of a cent stronger at $1.1294 up over 1 ½ cents. Ahead of New York’s opening gold was trading in London better, at $1,276.30 and in the euro at €1,129.27. Full Story
The EU and the US have already imposed sanctions on Russia and slapped asset freezes and travel bans on Russian individuals and businesses. NATO says hundreds of Russian tanks and armoured vehicles are in east Ukraine. Moscow denies direct involvement but says some Russian volunteers are fighting alongside the rebels. Full Story
By: Chris Mullen, Gold-Seeker.com - 28 January, 2015
Gold dipped $8.60 to $1286.10 in late Asian trade before it bounced back to $1292.82 in London and then dropped to a new session low of $1280.35 about 20 minutes after the release of today’s fed statement, but it then chopped back higher into the close and ended with a loss of just 0.76%. Silver slipped to $17.931 in Asia, but it then rose to as high as $18.14 in New York and ended with a loss of just 0.55%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 January, 2015
New York closed at $1,294.70 up $14.30. In Asia gold slipped to $1,289. The Fix saw the gold price set at $1,287.00 up $8.00 and in the euro, at €1,131.926 down €1.035, while the euro was ¾ of a cent stronger at $1.1137. Ahead of New York’s opening gold was trading in London better, at $1,290.3 and in the euro at €1,135.43. Full Story
In Singapore, gold for immediate delivery steadied above $1,290 an ounce. Holding gains from the previous session, as focus turned to whether a weaker U.S. and global economy will curb the US Federal Reserve’s claim that they intend raising interest rates. Gold in New Delhi rebounded today by Rs 120 to Rs 28,420 per 10 grams, the Press Trust of India reports. There is a revival in gold buying to meet ongoing wedding season demand. That has snapped the two-day losing streak for gold. Full Story
Incoming US economic data releases before the FOMC suggest that a softer tone on interest rates could be adopted. But whether that will translate into big gains for gold and silver will be dependent on the ability to break past key medium term resistances. However in spite and despite everything, I still remain positive on silver for the medium term to long term and will use the fall ((if any) after the FOMC meet in silver to invest for next year. Full Story
By: Chris Mullen, Gold-Seeker.com - 27 January, 2015
Gold climbed $17.13 to $1297.53 at about 10:45AM EST before it drifted back lower into midday, but it still ended with a gain of 1.12%. Silver surged to as high as $18.196 and ended with a gain of 1.12%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 January, 2015
New York closed at $1,280.40 down $13.30. In Asia gold held that level. The Fix saw the gold price set at $1,279.00 down $3.75 and in the euro, at €1,132.961 down €8.58, while the euro was stronger at $1.1289. Ahead of New York’s opening gold was trading in London uncertainly, at $1,281.00 and in the euro at €1,135.69. Full Story
Russia and surprisingly the Netherlands were the largest central bank buyers in December – accumulating a significant 30.34 tonnes between them as currency wars intensify. Demand for gold as a diversification and monetary asset continues to be very robust and central banks remain net buyers of gold which should be supportive of prices. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 January, 2015
Gold dropped $17.49 to $1276.21 by a little after 10AM EST before it bounced back higher into the close, but it still ended with a loss of 1.03%. Silver slipped to as low as $17.878 and ended with a loss of 2.24%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 January, 2015
New York closed at $1,293.70 down $10.00. In Asia gold held that level, but in London the price dropped to $1,281 with the euro again weaker by a cent at $1.1228 down 1.00 cent against the dollar. The Fix saw the gold price set at $1,282.75 down $10.75 and in the euro, at €1,141.541 down €8.748, while the euro was almost unchanged at $1.1237. Ahead of New York’s opening gold was trading in London uncertainly, at $1,281.60 and in the euro at €1,140.77. Full Story
The euro tumbled and gold in euros surged to its highest level since April 2013, at €1,167.94/oz as markets opened in Asia. The euro has since stablized but remains near a 11 year low against the dollar and is now down 16.7 percent against gold in January alone. Full Story
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