Gold drifted down to $1080.02 in London before it shot up to $1100.65 at about 9:30AM EST and then edged back lower at times, but it still ended with a gain of 0.65%. Silver rose to as high as $14.99 before it also fell back off and ended with a loss of 0.2%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 31 July, 2015
On Wednesday New York closed at $1,088.10 down $9.10. The dollar was unchanged at $1.0964, with the dollar Index almost the same at 97.36. This morning the LBMA gold price was set at $1,080.05 down $5.60. The euro equivalent was €985.09 down €4.34 on yesterday. Ahead of New York’s opening, gold was trading in London at $1,081.00 and in the euro at €986.31. Full Story
- Perth Mint sees surge in demand and cannot keep up with demand - “Our biggest restriction is the amount of unrefined gold we’re getting in from producers” - Very high demand for Perth Mint coins, bars coming from Asia, U.S. and Europe - U.S. Mint sees highest sales of gold coins in over 2 years - U.S. Mint restrictions on silver coins due to very high demand - Gold sentiment has moved from despondency to depression (see chart) - Current negative sentiment despite strong demand is good contrarian indicator Full Story
Gold fell $14.55 to $1082.65 in Asia before it bounced back to $1094.88 in late morning New York trade, but it then fell back off again into the close and ended with a loss of 0.83%. Silver slipped to as low as $14.638 and ended with a loss of 0.54%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 July, 2015
On Wednesday New York closed at $1,097.20 up another $1.60. The dollar was a cent stronger at $1.0963, with the dollar Index stronger at 97.31 up from 96.64. This morning the LBMA gold price was set at $1,085.65 down $1.10. The euro equivalent was €989.43 down €1.80 on yesterday. Ahead of New York’s opening, gold was trading in London at $1,087.00 and in the euro at €992.11. Full Story
- “Physical gold is a non-digital asset. You can’t attack it with cyberwarfare” – Rickards - Greek crisis was necessary step towards fiscal unity in Europe - “Euro creators want to force common fiscal control – Eurobonds” - Currency wars between U.S. and China may resume next year - Rickards emphasises importance of holding physical gold - Eschews “paper gold” in the form of ETFs, futures or unallocated storage - Gold insurance against “catastrophic event” … “on the horizon” Full Story
Gold edged up to $1099.24 in Asia before it fell back to $1091.49 at about 10AM EST, but it then bounced back higher for most of the rest of trade and ended with a gain of 0.15%. Silver rose to as high as $14.906 and ended with a gain of 0.95%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 July, 2015
On Tuesday New York closed at $1,095.60 up $1.60. The dollar was almost unchanged at $1.1064, with the dollar Index slightly down at 96.64 down from 96.77. This morning the LBMA gold price was set at $1,096.75 up $1.15. The euro equivalent was €991.23 up €0.63 yesterday. Ahead of New York’s opening, gold was trading in London at $1,096.20 and in the euro at €991.63. Full Story
- Austrian decision to renege on guarantees made to junior bondholders overturned – Court does not overrule bail-ins per se - Bail-in legislation still in place across Europe - EU deadline to implement bail-in legislation by end of this month - Depositors – savers and capital of SMEs exposed to bail-ins Full Story
Just ignore the FOMC meet. Unconfirmed reports suggest that a December interest rate hike will be there. A September interest rate hike may not be there. Whether there will be a short covering rally as a result of the same remains to be seen. Do not be hyper bearish on gold for the next two weeks, unless key technical supports are breached. There can be sharp pullback rallies. Full Story
Gold edged up to $1097.39 in Asia before it fell back to $1091.70 in London, but it then climbed to a new session high of $1098.30 in New York and ended with a gain of 0.15%. Silver rose to as high as $14.705 and ended with a gain of 0.82%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 July, 2015
On Monday New York closed at $1,094 down $6. The dollar was almost unchanged at $1.1062, with the dollar Index slightly higher at 96.77 from 96.72. This morning the LBMA gold price was set at $1,095.60. The euro equivalent was €990.60 down from €992.50 yesterday. Ahead of New York’s opening, gold was trading in London at $1,092.60 and in the euro at €990.57. Full Story
- “I own Krugerrands” says legendary Jim Grant - He is “very bullish indeed” on gold - Gold is “investment in financial and monetary disorder” – says Grant - It thrives in current environment – “uncertainty, turbulence and disorder” - “One of the most radical periods of monetary experimentation in the annals of money” - “Gold…is now the conjunction of price, value and sentiment” Full Story
Gold gained $6.29 to $1104.99 by about 4AM EST before it fell back to $1089.36 in the next four and a half hours of trade and then bounced back above unchanged by about 10AM EST, but it then drifted lower again into the close and ended with a loss of 0.43%. Silver slipped to as low as $14.545 and ended with a loss of 0.88%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 27 July, 2015
On Thursday New York closed at $1,088.70 down $5.20 as the bear raid continued. On Friday the gold price slipped to $1,084 ahead of London’s opening. The dollar was a tad stronger at $1.1069 Monday morning down from $1.096 on Thursday, against the euro, with the dollar Index down at 96.72 down from 97.03 Thursday last. This morning the LBMA gold price was set at $1,098.60, lower than the price seen in China. The euro equivalent was €992.50 down from €1,001.69 on Thursday. Ahead of New York’s opening, gold was trading in London at $1,100.00 and in the euro at €993.23. Full Story
- Gold is extremely rare and all gold ever mined would fit in giant bar the size of a four bedroom house - Gold is a tangible asset which always retains value – unlike paper assets - Growing Chinese, Indian and Asian middle class provide “fundamental pillar of support” to gold - Jewellery is not a suitable vehicle for gold investment due to high mark-ups and VAT - “Something romantic about gold” and a “premium product” said Bobby Kerr - Risk of further weakness in short term but buying opportunity presenting itself - History and academic research shows gold a “hedging instrument” and safe haven asset Full Story
Gold, silver and copper are oversold. They can rise anytime. At lower prices gold prices will see another wave of sell off only if it trades below $1027. At lower prices silver prices will see another wave of sell off only if it trades below $1397. There can be sharp pullback rallies (while maintaining the overall bearish trend) as long as gold and silver trade over these prices. Full Story
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