By: Chris Mullen, Gold-Seeker.com - 30 October, 2015
Gold edged up to $1150.11 in Asia before it fell back to $1139.47 in early afternoon New York trade and then bounced back higher, but it still ended with a loss of 0.38%. Silver slipped to as low as $15.495 and ended with a loss of 0.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 October, 2015
New York closed at $1,145.80 down from $1,156.80 at the close on Thursday but then rose to $1,150 in Asia overnight. The LBMA price setting fixed it at $1,147.75 down from $1,159.00. The dollar Index has risen and now stands at 97.11 down from 97.37. The dollar was weakening this morning as London opened, trading against the euro at $1.0993 down from $1.0931. In the euro the fixing was €1,041.75 down from €1,156.52. At New York’s opening gold was trading in the euro at €1,041.35 and at $1,147.20. Full Story
- Gold down 1.3% this week on Fed “noise” - Gold up 3% in October on robust demand - Stronger gains in euros, Swiss francs, Japanese yen - October poor month for gold seasonally - November, December, January and February the “seasonal sweet spot” - Confirmation of surging demand for bullion in Germany, India and China in Q3 Full Story
By: Chris Mullen, Gold-Seeker.com - 29 October, 2015
Gold edged up to $1162.69 in Asia, but it then drifted back lower in London and New York and ended with a loss of 0.95%. Silver slipped to as low as $15.559 and ended with a loss of 2.44%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 October, 2015
New York closed at $1,156.80 at the close on Wednesday but then rose to $1,162 in Asia overnight. London then lowered it back to $1,159.60. The LBMA price setting fixed it at $1,159.00. The dollar Index has risen and now stands at 97.37 and remains well below its peak of over 100. The dollar was trading against the euro at $1.0931 reflecting the dollar’s strength. In the euro the fixing was €1,056.52. At New York’s opening gold was trading in the euro at €1,056.75 and at $1,156.70. Full Story
Today, UBS has warned that London’s property market is “frothing” and last week Deutsche Bank were the property party pooper “calling time” on the London property “party.” According to a new UBS report, England’s capital is home to the most significantly overvalued housing market of any major city in the world – and that means there’s a risk the bubble is close to bursting. Full Story
By: Chris Mullen, Gold-Seeker.com - 28 October, 2015
Gold climbed $16.57 to $1182.97 by a little after 10AM EST before it fell to as low as $1152.30 after the release of today’s fed statement, but it then edged back higher in the last 75 minutes of trade and ended with a loss of just 0.82%. Silver climbed up to $16.356 before it dropped back to $15.72, but it then rallied back higher in late trade and ended with a gain of 0.69%. Full Story
The primary focus this week is again on the “all powerful” Fed. If the Fed leans toward a rate hike in December, gold could come under pressure again in the short term. However, if it leans toward raising rates next year, then gold would be expected to eke out further gains. Full Story
Gold and silver will break free from the recent consolidation phase. Gold and silver will not rise as long as investors are obsessed US interest rate hikes and Chinese slowdown. For gold to zoom in the short term either US economic numbers portray a slow economic growth and/or Chinese show signs of a long term bottom formation. Apart from these two, rest all the factors are bullish for gold. Full Story
By: Chris Mullen, Gold-Seeker.com - 27 October, 2015
Gold bumped up to $1168.23 by a little after 8AM EST before it fell back to $1161.28 in the next 45 minutes of trade, but it then bounced back higher into late morning and ended with a gain of 0.23%. Silver slipped to $15.793 before it rallied back to $15.949 and then fell back off into the close, but it still ended with a gain of 0.13%. Full Story
The European Commission is taking legal action against six European countries, including the Netherlands and Luxembourg, after they failed to implement rules that would allow for depositors to have their cash confiscated. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 October, 2015
Gold dipped $2.02 to $1162.58 in Asia before it bounced back to $1168.38 in midmorning New York trade and then fell back off into the close, but it ended with a loss of just 0.08%. Silver rose to as high as $15.983 and ended unchanged on the day. Full Story
The weekly chart for the INDU shows the 2009 uptrend channel we looked at when it was testing the bottom rail during the August low. This chart is one of the reasons I’ve remained bullish during this correction, above the bottom trendline is bullish and below is bearish. Outside of the August low this uptrend channel really shows a beautiful bull market. Full Story
Traders and everyone have been disappointed by the fall in gold prices. The government of India will announce the “gold monetization scheme” anytime in the next two weeks. All I can say is that if you have purchased gold which is not shown as a part of your wealth, then do not go for the scheme. You may get relief initially. The government will surely come up schemes (if not now) in the future which will tax your gold holdings. If you opt for the “gold monetization scheme” (for gold purchased with unaccounted money) then it will be short term gains and long term pains. Full Story
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