By: Chris Mullen, Gold-Seeker.com - 30 September, 2016
Gold gained $6.59 to $1327.99 at about 9AM EST before it chopped down to $1314.19 in early afternoon New York trade, but it then bounced back higher in late trade and ended with a loss of just 0.3%. Silver surged over 3% to $19.692 before it also fell back off, but it still ended with a gain of 0.47%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 September, 2016
Look at the difference between New York’s close and Shanghai’s p.m. fix! With the Yuan becoming one of the currencies in the SDR tomorrow we are closely watching to see if there is any change in a range of Chinese activities. Many feel that the Yuan has done little internationally so far, so why should it change now? We feel, as you know, that China has been holding back until this moment came. From now on we will see the action in the currency, etc. going forward. Full Story
In my experience to invest in gold is seen by the critics as the ultimate rejection of central banks, financial systems and government. These critics believe that faith in something that just gets mined out of the ground is baseless compared to something that ‘involves human endeavors (like stocks)’ as Joe Weisenthal of Bloomberg argued. Full Story
By: Chris Mullen, Gold-Seeker.com - 29 September, 2016
Gold saw slight gains in Asia before it fell to see a $6.78 loss at $1316.12 in late morning New York trade and then bounced back above unchanged in early afternoon action, but it then fell back off again into the close and ended with a loss of 0.11%. Silver slipped to $19.008 and ended with a loss of 0.47%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 September, 2016
It is ironic that central bankers continue to hold huge stocks of gold as they fear the same dangers both from their own behavior and that of other bankers. It is this that leads us to conclude that if confidence is massively lost in the financial system, governments will assume control over cash, silver and gold. With their being no likelihood of a change in the morality of bankers, it is inevitable that at some point in the future, governments through their central bankers will assume total control of these elements within their own Jurisdictions. Full Story
The potential collapse of Deutsche Bank and the systemic risk it poses to banks and the European financial and monetary system moved into the German political sphere yesterday. The German government denied it was preparing a rescue of the embattled bank and the Bundestag attempted to ask questions of ECB President Mario Draghi about the causes of the “systemic risks” posed by the bank. Full Story
By: Chris Mullen, Gold-Seeker.com - 28 September, 2016
Gold dipped $4.46 to $1322.74 in Asia before it edged back to $1326.89 in London and then fell to a new session low of $1318.20 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a loss of just 0.32%. Silver slipped to as low as $18.916 at one point, but it then rallied back higher into the close and ended with a gain of 0.1%. Full Story
The euro “might start to unravel” if Deutsche Bank collapses according to respected financial journalist Matthew Lynn. “It all has a very 2008 feel to it …” he warns in the Telegraph where he outlines his growing concerns about Deutsche Bank, concerns we have written about in recent months. Full Story
Unless demand picks up in India and China, gold and silver will not be able to get over the short term bearish phase. The rise in US consumer confidence numbers added to gold and silver woes. The US presidential election has also prevented short term inflows in gold and silver. To me the trend of gold and silver after the release of US September nonfarm payrolls on 7th October will be the key. I will still prefer to use all dips in gold and silver before 7th October to invest for the short term. Full Story
By: Chris Mullen, Gold-Seeker.com - 27 September, 2016
Gold dropped $12.09 to $1325.21 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 0.76%. Silver slipped to as low as $18.982 and ended with a loss of 1.34%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 September, 2016
For gold investors and macro-economic followers, the issues seem to be simpler. We have had for several years now a government that was gridlocked [emasculated?] as regards taking effective action. A Clinton Presidency would continue that [good for gold prices]. A Trump Presidency would remove that and give power to ‘government’ to act decisively once more. We see a large potential for globally divisive policies [good for gold prices too] under such a presidency. Full Story
Just trade in the technical. Ignore the media friendly US presidential drama. Promises made before any political elections are just to make voters an emotional fool. Tears shed before any political elections are crocodile tears. Whether its India, Europe or America, politicians are the same breed. They are there to loot you. The bigger the looter the greater generally is the margin of victory. Full Story
By: Chris Mullen, Gold-Seeker.com - 26 September, 2016
Gold fell $5.11 to $1332.79 in Asia before it bounced back to $1342.17 in morning New York trade, but it then chopped back lower into the close and ended with a loss of 0.045%. Silver slipped to as low as $19.374 and ended with a loss of 1.32%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 September, 2016
Since the last announcement from the Bank of Japan, where little was changed, Mr. Kuroda of the bank has spoken in such a way as to encourage a weaker Yen, saying he would venture further into negative interests rates should the need arise. It had little impact on the dollar: Yen exchange rate. In the E.U. Draghi is being more forthright and calling for governments to implement structural reforms to spur growth. We doubt member state governments are listening let alone planning to do anything, even going so far as to point fingers at Draghi and the E.C.B. Full Story
The metal is at the start of a multi-year bull run with a “few thousand dollars of upside” in a world of “monetary policy without limits” where central banks print lots of money and low or negative interest rates prevail, said Parrilla, who joined the firm as managing director of commodities last month. He’s worked at Goldman Sachs Group Inc. and Bank of America Merrill Lynch. Full Story
This is really a big week for gold, silver and copper. The recent range trade in them should be breached and a new range formed. Gold will break free from the $1300-$1370 range. Silver will break free from the $1850-$2050 range. Crude oil will break free from the $42.50-$49.50 range. A bad trade and you just might not be capable to trade for the rest of the year. A good trade will imply a Diwali in the shradh period. Please do not curse luck if you did a bad trade. Patience, instincts and timing will be the key to trade not just this week but also for the rest of the year. Full Story
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