Gold gained $17.77 to $1341.47 by a little before 10AM EST before it pared back a bit into midday, but it then jumped back higher into the close and ended near its last minute high of $1344.42 with a gain of 1.51%. Silver screamed to as high as $19.883 and ended with a gain of 4.9%. Full Story
One of the primary keys to success in investment and speculation is picking the right stocks to trade. That’s no mean feat, as it takes great effort, expertise, and time to winnow the whole field down to the likely winners with the best fundamentals. Gold stocks’ dazzling market-leading performances so far this year have sparked much interest in what factors to consider to pick great stocks in this red-hot sector. Full Story
Gold and silver are the best performing assets in H1, 2016 and saw gains of 26% and 38% respectively. They were the best performing assets prior to Brexit and they are the best performing assets since Brexit. Since Brexit gold and silver are up 6% and 11% respectively. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 1 July, 2016
Once again Shanghai took the lead in taking gold prices higher in their today, as the perspective on the global economy continued to point to more deflation and national monetary policies targeted more easing. The Bank of England of the United Kingdom [How long will it be called that if Scotland has a referendum to remain in the E.U. – will we have Border Controls in Berwick?] indicated lower interest rates, likely in August. Full Story
Gold edged down to $1313.06 in Asia before it bounced up to $1322.91 by late morning in New York and then fell to see a slight loss in the next 90 minutes of trade, but it then rallied back higher into the close and ended with a gain of 0.46%. Silver rose to as high as $18.793 and ended with a gain of 2.85%. Full Story
I have many more charts to show you but they’ll have to wait for this weekend. I hope these few charts show you the difference between a bull market and a bear market and how the trend is your friend until it isn’t. These trends can last a very long time before they exhaust themselves. Remember the first real correction will come at some point. It won’t be the end of the new bull market but it may feel like it. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 30 June, 2016
While Brexit has caused the U.K. to join the ‘currency war’, with more monetary easing, we do expect to see the U.S. react strongly to a stronger dollar if we see it on the index. The prospect of a Fed interest rate hike was being pushed out to 2018 by the markets today. But more will be needed to make the dollar fall with other ‘hard’ currencies. We would not be surprised to see Q.E. return in the U.S. or other similar moves, in time. Full Story
Gold climbed $15.19 to $1327.59 by late morning in New York before it chopped back lower at times, but is still ended with a gain of 0.4%. Silver surged to as high as $18.444 and ended with a gain of 2.7%. Full Story
“If Brexit is used as an excuse, the central banks will print more money, QE4 in the U.S. is on the way and the depreciation in the purchasing power of currencies will continue,” Faber said in the interview from Hong Kong. “In that situation, you want to own some gold.” Full Story
The Istanbul airport attack will increase safe haven demand for gold. Europe is like the New Delhi of the mid-eighties/early nineties wherein everyday there was some form of terror threats. In New Delhi thanks to law enforcement agencies the chances of a terror strike are more or less zero but fears remain. Europe is like New Delhi. Unlike Indians who are used to terror threats, Europeans have something extra ordinary to deal with. Gold demand in Europe will zoom. Full Story
Gold fell $19.59 to $1306.91 in London before it bounced back higher in New York, but it still ended with a loss of 1.06%. Silver slipped to as low as $17.558 in London, but it then climbed to as high as $17.816 in New York and ended with a gain of 0.17%. Full Story
“It didn’t have to happen,” Greenspan said. He warned that it is now likely that Scotland, whose majority of voters wanted to stay in the EU, will have another referendum on its own independence. He predicted such a vote would be successful, and Northern Ireland would “probably” go the same way.
He also warned about the massive entitlements and unfunded liabilities in the U.S. and western world. The U.S. national debt is heading rapidly towards $19 trillion but the U.S. also has unfunded liabilities estimated to be between $100 trillion and $200 trillion." Full Story
By: Julian D. W. Phillips, Gold Forecaster - 28 June, 2016
Political institutions have either been emasculated due to ‘hung’ governments or lack of will to really promote growth. Crises initiate the process of loss of control by governments triggering further socio/political crises. Brexit appears to be a start in a long series of events which will breed further crises. Full Story
There can be big three percent one way moves in gold and silver anytime. Copper is looking bullish at the moment. Crude oil needs to trade over $44 till tomorrow to prevent another sell off. Monday US markets are closed due to Independence Day. There will be position squaring and rebuilding for next week. Traders have also started taking positions for the upcoming quarter. Sentiment is bullish for gold and silver for next quarter. However unless the rise in gold prices is backed by a rise in physical gold demand, there will be fears of sharp corrections (while maintaining the overall bullish trend). US economic progresses will also tell us the fate of US interest rate hikes. Full Story
Gold gained $16.53 to $1335.43 at the open of trade last night and climbed to as high as $1333.04 in London before it fell to see a slight loss at $1317.88 in late morning New York trade, but it then bounced back higher in afternoon trade and ended with a gain of 0.58%. Silver rose to as high as $17.904 trade and ended with a gain of 0.17%. Full Story
Let’s look at the chart again. Gold tends to outperform platinum when the confidence in the government, economy and fiat money is deteriorating, while it underperforms platinum during periods of monetary stability, economic growth and high confidence in the financial system. Full Story
However, for the same reason that the dollar cannot be properly priced in pounds or euros, gold cannot be priced in the dollar. For the same reason that if you fall off a cliff the height of the cliff top cannot be measured in terms of distance above your head, a meter stick cannot be measured in terms of a rubber band.
The dollar must be priced in gold. The dollar is not precisely a gold derivative. However, it is valuable only because, and only for so long as, gold makes a bid on it. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 27 June, 2016
- The $: € plunged lower on Monday morning to $1.1004 from [pre-Brexit] Thursday’s $1.1336. - The dollar index moved higher to 96.37 up from the pre-Brexit, 93.48. - The Yen continues to strengthen [101.70] after central bank indicated it may well intervene to weaken the Yen. - The Yuan continues to weaken to 6.65 respectively. The Yuan fix showed the Chinese authorities are taking pulling the Yuan down more in line with the euro than the dollar. - The dollar is strong on the Index so we do expect action to weaken the dollar even if it is just through swaps. The Fed expressed their worries at their last statement, so we doubt they will tolerate such strength. Full Story
- Jeffrey Nichols of Rosland Capital, returns to the show with his latest insights on the precious metals sector - gold could top $2,000 possibly in 2016 or 2017. - A new gold bull market could lift silver and related shares to record levels. - Citizens around the globe, from China to the US and beyond have lost faith in central banking as evidenced by Brexit / Grexit talks. - More... Full Story
Gold is not just moving as some sort of “anti-Dollar” as it is prone to normally do. The US Dollar index is sitting up above 95 and yet gold is moving up along side of it. That tells us that gold is functioning as a currency in its own right and truly is acting as a safe haven at the moment. The uncertainty, confusion, the lack of conviction about how all of this is going to play out, is keeping a strong bid from investors who are getting nervous about all these things coming together. Full Story
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