– ‘Technical issue’ at Fidelity temporarily blocks access to online accounts and halts online trading – Fidelity is 3rd largest brokerage by client assets: $1.7 trillion at the end of 2016 – NatWest, RBS, Ulster Bank have experienced online banking “issues” in November – Clients left without access to funds and failed payments and little to no recourse – Social media exposing the banks’ and online trading platforms’ shortcomings – Reminder that online accounts can be rendered non-viable and vulnerability of absolute dependence and digital cash, digital gold etc Full Story
Postponement of the proposed Trump tax cut bill by the US senate by another week has resulted in mixed fortunes for the US dollar. Gold and silver are bearish. They are somehow managing to hold onto to key long term technical support. Only weekend short covering and value based physical demand can result in a rise for gold and silver. In the next seven trading sessions there are lots of global economic data releases which can reverse the current direction of every financial instrument. Full Story
By: Chris Mullen, Gold Seeker Report - 30 November, 2017
Gold fell $14.70 to $1270.40 in early afternoon New York trade before it bounced back higher into the close, but it still ended with a loss of 0.81%. Silver slipped to as low as $16.314 and ended with a loss of 0.79%. Full Story
– A bullion dealers view on ‘What will drive the markets in 2018?’ – QE, inflation, Fed rates, debt bomb, China, populism, EU cohesion, Brexit, digital disruption, cashless society, demographics, Trump (war), Artificial intelligence (AI) – Solve global debt crisis with humongous amount of debt!? – Inflation – U.S. health insurance has increased 13% per annum since – How Artificial Intelligence (AI) is the “big one,” likely be massively disruptive Full Story
Gold and silver fell yesterday on a technical breakdown. Gold could consolidate in a wider $1240-$1290-$1360 range for a few months. Questions are being asked to how can gold rise? Two factors can result in gold zooming over the next few months (a) There is a clear indication that global central bankers (including the Federal Reserve) will raise interest rate at a slower pace next year. (b) There is an armed attack by NATO forces in North Korea. Full Story
By: Chris Mullen, Gold Seeker Report - 29 November, 2017
Gold gained $3.50 to $1296.60 in Asia before it slid back to $1282.10 in early afternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 0.62%. Silver slipped to as low as $16.517 and ended with a loss of 1.72%. Full Story
– We own gold bullion to “support national security” – Russian Central Bank – Russia warns Washington: Confiscating fx reserves would be “declaration of financial war” – Russia has quadrupled its gold bullion reserves in decade – BRICs discussing ‘the possibility of establishing a single (system of) gold trade’ Full Story
By: Chris Mullen, Gold Seeker Report - 28 November, 2017
Gold gained $2.70 to $1296.50 in London before it dropped back to $1290.90 in midmorning New York trade and then jumped back to $1297.30 in late morning action, but it then drifted back lower into the close and ended with a loss of 0.05%. Silver slipped to as low as $16.786 and ended with a loss of 1.17%. Full Story
– Bitcoin tops $10,000, soaring more than 850% since beginning of 2017 – Irrational exuberance arguably main driver of price performance – Google Trends shows search for ‘Bitcoin Bubble’ hit highest level this morning – Buyers need to be aware of hacking and security risks – Other primary risks to widespread adoption is volatility and liquidity risk – World’s largest online trading platform IG Markets suspends BTC trading – Volatility of cryptocurrencies and risky world of fiat make gold attractive Full Story
Global investment community focus is on bitcoin and crypto currencies. Bitcoin and crypto currencies are a replacement to the existing global currency system and are not backed by fundamentals. The rise in price of bitcoin is similar to the gold price at $380 in 2003. There is lot more potential for the rise in crypto currencies. The difference between gold and bitcoin is that bitcoin does not have any underlying fundamentals whereas gold is a physical asset. Full Story
By: Chris Mullen, Gold Seeker Report - 27 November, 2017
Gold gained $11.30 to as high as $1299.20 in morning New York trade before it drifted back lower in afternoon trade, but it still ended with a gain of 0.46%. Silver rose to as high as $17.174 and ended with a gain of 0.12%. Full Story
DR WAYNE DYER was an American philosopher, self-help author and a motivational speaker. Dyer was an internationally renowned author and speaker in the fields of self-development and spiritual growth. Over the four decades of his career, he wrote more than 40 books, including 21 New York Times bestsellers. Full Story
Bitcoin can rise much more than most of us expect. The real euphoria has just begun. Banks, broking houses and hedge funds do not want to miss the opportunity from providing client services on bitcoins. Even exchanges want to cash on the bitcoin hype. Global retail participation (in bitcoin) is not even ten percent of the potential. So far the rise in crypto currencies has impacted investment demand of gold and silver. Full Story
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