Gold edged up to $1421.47 in early Asia trade, but it then fell to as low as $1384.60 in New York and ended with a loss of 2.04%. Silver slipped to as low as $22.16 and ended with a loss of 2.46%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 31 May, 2013
New York’s closed at $1,413.80 up nearly $19 after which Asia lifted it to $1,417, then London pulled it back to Fix at $1,410.25 up $4.00 and in the euro at €1,085.977 up €2 while the euro was €1: $1.2986. Ahead of New York’s opening gold rose again to stand at $1,411.90 and in the euro at €1,086.75. Full Story
The PRICE of gold slipped from a new 2-week high in London trade Friday morning, nearing the weekend 2.9% above last week's finish, but losing more than 4.6% from the start of May. Silver also edged lower, cutting its weekly gain to 0.3% and standing 7.6% lower for the month. European stock markets meantime extended this week's drop, but held onto better than 5% gains for May. Full Story
Gold is marginally lower today in dollars but higher in other currencies but remains near a two-week high and is heading for the best week in a month in all currencies, with a gain of 2% in dollar terms. The South African rand has collapsed 7.7% against gold this week again showing gold’s hedging properties. Full Story
Gold popped up to $1410.53 in Asia before it fell back under $1400 in London, but it then rose to as high as $1417.80 in New York and ended with a gain of 1.36%. Silver surged to as high as $23.085 and ended with a gain of 1.25%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 May, 2013
New York’s closed at $1,394.80 up nearly $14 after which Asia and London lifted it further through the $1,400 barrier to $1,408 in London’s morning. It Fixed at $1.406.25 up $22.00 and in the euro at €1,083.90 in London up €10 while the euro was €1: $1.2891. Ahead of New York’s opening gold rose again to stand at $1,400.65 and in the euro at €1,078.79. Full Story
SILVER and GOLD retreated from one-week highs Thursday morning in London, dropping back as European stock markets reversed earlier losses. Tokyo's Nikkei stock index had ended the day 5.5% lower, its second slump in 6 sessions after nearly doubling in six months to hit 5-year highs. Full Story
Gold rose to a one-week high, as the dollar and stocks retreated after another 5% plunge in Japan’s Nikkei. Silver, platinum and palladium advanced also. Physical gold demand remains robust internationally and supply issues in Singapore have led to premiums reaching a record high there. Full Story
Gold edged down to $1380.70 in Asia before it rebounded to $1394.70 at about 7AM EST and then fell back to $1382.60 in the next few hours of trade, but it then rose to a new session high of $1395.00 in afternoon New York trade and ended with a gain of 1%. Silver slipped to $22.179 in Asia, but it then rose to as high as $22.511 in New York and ended with a gain of 0.72%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 May, 2013
New York’s closed at $1,381 after which Asia lifted it slightly ahead of London’s opening up to $1,385 in London’s morning. It Fixed at $1.384.50 up $5.50 and in the euro at €1,074.005 in London up €6.6 while the euro was €1: $1.2891. Ahead of New York’s opening gold rose again to stand at $1,390.90 and in the euro at €1,065.78 still. Full Story
WHOLESALE PRICES for physical gold rose Wednesday morning in London, hitting almost $1395 per ounce to gain 0.5% for the week so far. Silver lagged gold, trading in line with last week's finish at $22.42 per ounce, while world stock markets fell together with commodities and major government bond prices. Full Story
The paper gold market remains volatile and is likely to get more volatile but this is not deterring physical buyers and premiums remain strong in most markets. Premiums in India and Hong Kong have fallen from the very high premiums of recent days but Singapore, Shanghai, Dubai, Turkey and western markets continue to see high premiums. Full Story
Gold fell over $21 to $1373.66 at about 10:15AM EST before it rose to as high as $1401.20 in the next hour and a half of trade, but it then fell back off into the close and ended with a loss of 0.98%. Silver slipped to $22.14 before it climbed back to $22.634, but it then fell back off in early afternoon trade and ended with a loss of 1.59%. Full Story
The gold market has started out on a weaker footing in the face of a quasi risk-on environment. With adverse Dollar action and noted gains in equities, gold seems to be somewhat out of favor to start the holiday shortened US trading week. However, the big news overnight for gold wasn't macro economic in nature, as the South African government hinted at interjecting itself into the mining sector with a "Rescue Plan". The South African Mines Minister expressed concern of significant upcoming supply and demand interventions in both gold and platinum and therefore the South African government has announced they have developed some plans to keep their mining industry viable. Full Story
By: Julian D. W. Phillips, Gold Forecaster - Global Watch - 28 May, 2013
Asia took the gold price from New York’s close of $1,387 up to $1,394 in London’s morning. London and New York were closed and the price in Asia hardly moved from that level. On Tuesday the gold price slipped just below $1,390 ahead of London’s opening but then fell further to Fix at $1.379 and in the euro at €1,067.42 in London while the euro was €1: $1.2959 up 75 cents against the U.S. dollar. Ahead of New York’s opening gold stood at $1,378.75 and in the euro at €1,065.78. Full Story
ALTHOUGH silver rallied, the price of gold held onto an earlier drop Tuesday morning in London, retreating from last week's closing levels as UK and US traders returned from national holidays. Gold edged down to $1380 per ounce, half-a-percent below Friday, even as the US Dollar slipped on the currency market. Full Story
Gold is lower in all major currencies except the yen which is under pressure today due to ‘Abenomics’ concerns and concerns of further yen debasement. A firmer dollar and buoyant stock markets may be contributing to gold being under pressure. Gold is being supported by continuing currency wars and consequent diversification from central banks and robust physical demand which is countering continued ETF liquidations. Full Story
It is make or break over the next four days for gold and silver. Either gold breaks $1410 by Friday or breaks down to $1330. Either silver breaks $2375 or breaks down to $2075. This week anything can happen as gold June futures are expiring and traders will not start taking positions for US May nonfarm payrolls on 7th June. US May consumer confidence data today can have a big impact on all commodities. Full Story
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