By: Chris Mullen, Gold-Seeker.com - 31 January, 2014
Gold fell to $1238.62 in Asia before it rallied to as high as $1253.65 by a little after 8:30AM EST and then fell back off in the next six hours of trade, but it then bounced back higher into the close and ended with a gain of 0.15%. Silver slipped to $19.087 before it rebounded to $19.474 and then also fell back off, but it ended with a loss of just 0.21%. Full Story
It’s against this background that gold traded in a $20 range between $1250 and $1270 until Thursday, when gold was finally sold down to the $1240 level and silver to $19.10. At the same time the US dollar rallied strongly, being the West’s preferred safe-haven from emerging market currency volatility. This is now the developing story, which may turn out to be the mainspring behind the gold price in the coming months. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 31 January, 2014
The New York gold price fell back to $1,243.00 from $1,269.80 at the close on Thursday. Asia held it around there before London fixed it at took it down to $1,258.20 ahead of the Fix. It Fixed at $1,246.50 down $7.50 on Thursday. In the euro, it Fixed at €920.538 down €1.656 reflecting a stronger dollar which stood at $1.3533 up 0.65 cents. Ahead of the opening in New York gold stood at $1,245.65 and in the euro at €920.73. Full Story
Gold is marginally higher in all currencies this morning but is trading near a one-week low and headed for the first weekly loss since December. Gold rose as much as 8.2% from the 6 month low set December 31 and reached a 2 month high of $1,279.61/oz prior to weakness this week. Speculation that the Federal Reserve may reduce their massive bond buying programme may be making traders nervous. The Fed said on Wednesday that it will cut its monthly bond buying to $65 billion from $75 billion. Full Story
By: Chris Mullen, Gold-Seeker.com - 30 January, 2014
Gold dropped to as low as $1238.22 at about 9:20AM EST before it bounced back higher for the rest of trade, but it still ended with a loss of 2.11%. Silver slipped to as low as $19.017 and ended with a loss of 2.93%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 January, 2014
The New York gold price rose to $1,269.80 from $1,254.10 at the close on Wednesday. Asia took it back down to $1,259.00 ahead of the opening in London. London took it down to $1,258.20 ahead of the Fix. The dollar traded stronger at $1.3600 down 0.64 of a cent. It Fixed at $1,254.00 down $0.75 on Wednesday. In the euro, it Fixed at €922.194 up €4.308 reflecting a stronger dollar which stood at $1.3598. Ahead of the opening in New York gold stood at $1,254.40 and in the euro at €921.84. Full Story
Conventional thinking could lead you to believe that equity weakness would be a negative for precious metals. While that was the case in 2008, the negative correlation from 2011-2013 and recent price action suggest precious metals (and gold stocks in particular) will benefit from a bear market in equities. Gold stocks have already endured a multi-year bear market. Large-caps shed 65% while juniors lost 80%. Full Story
The focus shifts to US GDP growth and next weeks US January nonfarm payrolls. In the next two weeks gold needs to break $1283 else the chances of a fall back to $1230 and below will be very high. Silver needs to trade overt $1910 in the next two weeks avert a bear crisis. By the middle of February Chinese demand for gold will be over and also Federal reserve will have a new chairman. Full Story
By: Chris Mullen, Gold-Seeker.com - 29 January, 2014
Gold edged down to $1250.95 in Asia before it climbed to see an over 1% gain at $1268.95 by a little before 9AM EST and then fell back to almost unchanged just after today’s fed announcement, but it then rallied back higher into the close and ended near its last minute high of $1270.11 with a gain of 1.25%. Silver slipped to $19.50 before it rallied to as high as $19.952 and then also fell back off at times, but it still ended with a gain of 1.02%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 January, 2014
New York pulled back slightly to $1,254.10 from $1,255 at the close on Tuesday. Asia took it to $1,255.30 ahead of the opening in London. The dollar traded barely changed at $1.3664. London held it around there until it Fixed at $1,254.75 up $1.25 on Tuesday. In the euro, it Fixed at €917.886 down €1.237 reflecting a slightly stronger dollar which stood at $1.3670. Ahead of the opening in New York gold stood at $1,259.05 and in the euro at €921.47. Full Story
The fall in gold and silver is due to profit taking before the Federal reserve meet which if it continues till next week can market the beginning of a short term bear rally. In case gold falls after the FOMC meet then it be caught between physical buyers who will use the price fall to buy and bearish traders in the futures market. Full Story
By: Chris Mullen, Gold-Seeker.com - 28 January, 2014
Gold popped up to $1261.39 in early New York trade before it fell back off into midmorning, but it then bounced back higher in the last few hours of trade and ended with a loss of just 0.08%. Silver slipped to as low as $19.488 and ended with a loss of 0.25%. Full Story
By: Julian D. W. Phillips, Gold Forecaster - Global Watch - 28 January, 2014
The People’s Bank of China is not misleading the public by not announcing increases according to a schedule, but has followed a clear policy of using an outside [Chinese] agency to do the buying for it. At the end of five years this agency hands the gold over to the People’s Bank of China, but again this can vary. At the time of the handover and only at this point, the gold reserves of the central bank of China increase. Most believe that they have been gathering gold reserves since 2009. Part of the reasoning why no announcement so far is explained by pointing out that China has embarked on a policy of moving the Yuan to full convertibility [and to a position as a global reserve currency] over time. Full Story
By: Justin Smyth, Next Big Trade - 28 January, 2014
The gold miners have recently started to firm up the case for a new bull market in gold. After rallying strongly over the last few weeks, the number of gold stocks in a Stage 1 base has increased dramatically to over 40% of the stocks tracked below. The data also shows the number of stocks that are basing in Stage 1, or advancing in Stage 2, now is about equal to the number that is still in a Stage 4 decline. This is a bullish omen, especially since gold stocks tend to forecast major turns in the gold market. Full Story
By: Chris Mullen, Gold-Seeker.com - 27 January, 2014
Gold dropped down to $1252.27 at about 2:30PM EST before it bounced back higher in the last hour and a half of trade, but it still ended with a loss of 1.05%. Silver slipped to as low as $19.582 and ended with a loss of 1.41%. Full Story
By: Peter Spina, President of GoldSeek.com - 27 January, 2014
In these risk-adverse times explorers and investors alike are looking to hedge their bets as much as possible. Few companies provide greater low-risk exposure to exploration upside than prospect generators like Midland Exploration (TSX-V: MD | OTC: MIDLF). By quietly amassing a slew of quality early to mid-stage exploration projects in Quebec the company has been able to strike deals with an impressive range of deep-pocketed joint-venture partners. Looking forward, Midland seems set to keep exploring and making discoveries despite the downturn. Full Story
There is a lot we could discuss in this Weekend Report from the price action in the US stock markets to the world stock markets. As we are almost fully invested in the precious metals complex, and especially the juniors at this time, I think we need to put aside all the outside noise and focus on our PM investments. Full Story
By: Julian D. W. Phillips, Gold Forecaster - Global Watch - 27 January, 2014
The gold price is now showing a positive Technical picture but need to move to over $1,300 before it shows a trend change. Last week saw a lot of important work done by the gold price, in this regard. This week becomes an important week for gold and silver too. Full Story
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