Gold fell $4.70 to $1239.60 at about 8:45AM EST before it chopped back higher at times, but it still ended with a loss of 0.23%. Silver slipped to as low as $16.541 and ended with a loss of 0.06%. Full Story
– America’s underfunded pension system is “not a distant concern but a system already in crisis”… – Tax may explode as governments seek to bail out insolvent pension plans – Illinois, California, New Jersey, Connecticut, Massachusetts, Kentucky and eight other states vulnerable – The simple mathematical mismatch at the heart of the pension crisis… Full Story
Gold edged up to $1252.90 in Asia before it fell back to $1239.90 by a little after 9AM EST, but it then bounced back higher into the close and ended with a loss of just 0.47%. Silver slipped to as low as $16.609 and ended with a loss of 1.19%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 June, 2017
Against yesterday’s Shanghai prices New York is now at a $8 discount to Shanghai and London opened at a $17.60 discount. Once again we will see where pricing power resides. We expect Shanghai will show itself as the price leader by lifting London and New York higher. But this sort of day clearly shows where the dominance lies. Full Story
– London property bubble bursting? UK in unchartered territory on Brexit and election mess – Evidence of downturn in London housing market – Over 75% of London homes now selling below asking price – Prime north London property down 6 per cent annually – House prices have not fallen for three consecutive months since the 2009 crisis – Bank of England report expresses worry over UK property market Full Story
There is speculation all over the internet that more and more central banks are on the verge of legalizing bitcoins and other crypto currencies. Legalizing crypto currencies is a way to ensure that the elite and the state continue to control key asset classes. Bitcoins and its forms were outside the influence of central banks and global controlling forces. Legalizing bitcoins is “If you can’t beat them then join them first and destroy them later”. Full Story
Gold gained $5.50 to $1254.60 in London before it fell back to $1247.90 in midmorning New York trade, but it then bounced back higher into the close and ended with a gain of 0.09%. Silver rose to as high as $16.859 and ended with a gain of 0.84%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 June, 2017
The three global gold markets are moving back into line today with London and New York rising to almost Shanghai’s level. New York rose to within $7.32 of Shanghai’s prices down from $16 lower than Shanghai, and London opened $7.42 lifting the discount to Shanghai, from $13.42. This is again, confirming Shanghai dominating pricing power. Full Story
Shrinkflation – Real inflation much higher than reported and realised Shrinkflation is taking hold in consumer sector Important consumer, financial, monetary and economic issue being largely ignored by financial analysts, financial advisers, economists, central banks and the media. Food becoming more expensive as consumers get less for price paid A form of stealth inflation, few can avoid it Full Story
The IMF joins the list of anti-Trump support group as it cut its outlook for the U.S. economy, removing assumptions of President Donald Trump’s plans to cut taxes and boost infrastructure spending to spur growth. The IMF reduced its forecast for U.S. growth this year to 2.1 percent, from 2.3 percent in the fund’s April update to its world economic outlook. IMF also cut its projection for U.S. growth next year to 2.1 percent, from 2.5 percent in April. These projections will be prone to revision. However any reduction in US economic growth will be bullish for gold, silver and metals. Full Story
Gold gained $8.60 to $1252.90 in Asia before it fell back towards unchanged in early afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.39%. Silver climbed up to $16.70 before it fell back to $16.563, but it then jumped to a new session high of $17.747 in the last hour of trade and ended with a gain of 0.66%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 June, 2017
Yesterday, we thought the sale at the open in London must have been a physical sale, but it wasn’t, it was a ‘paper’ sale, where it was thought that someone made a huge mistake selling ‘lots’ in the futures market instead of ounces. The deal was 56 tonnes of gold a massive amount that has not been seen since the gold price was crushed in 2013. Whatever it was, we learned a great deal about the behavior of markets then right up until now and likely tomorrow. Full Story
– Massive selling at 0400 EST when U.S. markets closed and thin trading amid holidays in Muslim countries including Turkey, Singapore and Malaysia. – Mystery is that “fat fingers” in gold market are always sell trades that push prices lower – Traders or market ‘muppets’ frequently push gold market lower … not other markets – Only small 0.9% loss on the day and bounce back shows deep liquidity and robust nature of gold market Full Story
I am not surprised by yesterday’s sudden crash in gold and silver. These things will happen more often on days when trading volumes are less and/or some key bullion trading nations are closed. Such moves are manipulated with the sole aim to create panic among retail investors. Sometimes these types are moves are insider trading moves wherein the big traders knows exactly the price at which certain buy stop losses or sell stop losses will get triggered. Full Story
Gold fell $19 to $1236.90 in London before it bounced back higher in New York, but it still ended with a loss of 0.92%. Silver slipped to as low as $16.437 and ended with a loss of 0.78%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 June, 2017
Shanghai is leading the way up again as New York closed $2.60 lower than Shanghai’s close on Friday. This morning Shanghai started the week nearly $4 higher than New York’s Friday close as the Yuan weakened against a weakening dollar. We note that the P.B. of C. has stated it wants to trade against a basket of currencies not just the dollar but today while other currencies are stronger against the dollar the Yuan is weaker. Full Story
I learned very early in my investing careers: I better not invest in what I want. I better invest in what’s happening in the world. Otherwise I’ll be broke — dead broke. Well, what’s going to happen is it’s going to continue. Some stocks in America are turning into a bubble. The bubble’s gonna come. Then it’s going to collapse, and you should be very worried. But, Henry, this is good for you. Because someone has to report it. So you have job security. You’re a lucky soul. Full Story
Trump’s trumpet is over now. Trump is different from the previous American presidents as he tries to lure more and more companies to create jobs. He being a billionaire is trying to rectify America’s balance sheet. But the American politicians are trying their best to start an impeachment proceeding against him as they do not like change. May be they do not like the change in power. Every kind of proposed legislation has been blocked. Full Story
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