Gold edged up to $1287.72 in London before it plummeted to as low as $1273.94 just after the release of this morning’s jobs report, but it then shot to a new session high of $1304.31 by late morning in New York and ended with a gain of 1.04%. Silver slipped to as low as $18.964 in Asia, but it then climbed to as high as $19.662 in New York and ended with a gain of 2.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 May, 2014
The gold price closed at $1,284.90 down $5.50 on yesterday, in New York. In Asia it was being pulled back to $1,283 again and holding in London. The dollar recovered to $1.3858, 0.2 of a cent. The gold price was Fixed in London at $1,285.00 and in the euro at €927.262 while the euro was at $1.3858. Ahead of the opening of New York, gold stood at $1,287.00 and in the euro at €928.64. Full Story
Gold remained in range bound trading yesterday and into this morning, fluctuating between $1,280 and $1,285/oz. Likewise, silver traded in a narrow band between $18.90 and $19.10/oz. The precious metals appear to be treading water while awaiting the open of New York morning trading, and the release of the latest U.S. non-farm payroll figures today. Full Story
Gold dropped $12.81 to $1277.59 at about 9AM EST, but it then bounced back higher into the close and ended with a loss of just 0.43%. Silver slipped to as low as $18.857 and ended with a loss of 0.68%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 May, 2014
The gold price closed at $1,290.4 down $5.70 on yesterday, in New York. In Asia it was being pulled back to $1,283. London is closed today. The dollar weakened to $1.3880 nearly half a cent lower. Ahead of the opening of New York, gold stood at $1,286.10 and in the euro at €926.65. Full Story
There was little volatility in the gold price yesterday following confirmation that the U.S. Federal Reserve is to continue scaling back its monthly bond buying program due to the perception of stronger U.S. economic growth over the near term. This view contradicted the recent data slightly as yesterday also saw the release of first quarter U.S. GDP growth figures, which showed that the U.S. economy only grew at an annualised 0.1% over the 3 months from January to March. It remains to be seen if the Fed’s optimism is realistic. Full Story
By: Manan Somani, Insignia Consultants - 1 May, 2014
The FOMC said that taper will continue for the time being on the strength of the US economy. Federal reserve officials were fairly optimistic of economic progress. The Fed also kept its forward guidance unchanged, saying that it’s appropriate to keep rates at zero “for a considerable time” after the bond buying program ends. In short the Federal reserve has given us a neutral stance. Commodities and the US dollar are in a neutral zone with incoming economic data releases from the Eurzone the and USA dictating till next FOMC meet around 20th June. Full Story
By: Chris Mullen, Gold-Seeker.com - 30 April, 2014
Gold fell $10.93 to $1285.17 at the open of trade in New York before it shot up to $1295.43 in the next 10 minutes of trade after the release of this morning’s GDP report and then dropped back near that earlier low by midmorning, but it then climbed to a new session high of $1297.55 just before today’s fed announcement and ended with a loss of just 0.44%. Silver slipped to as low as $19.053 and ended with a loss of 1.54%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 April, 2014
The gold price closed at $1,296.10 down $0.50 on yesterday, in New York. In Asia it was being pulled back to $1,293 just ahead of London’s opening, once again. In London it was Fixed this morning at $1,292.00 up $2.25 and in the euro at €934.674 up €4.655 as the dollar strengthened to $1.3823 before slipping slightly to $1.3834 ahead of the opening of New York, when gold stood at $1,292.30 and in the euro at €934.15. Full Story
The gold price drifted lower overnight in Asian trading and settled just above the $1,290 level as markets await the conclusion of the U.S. Federal Reserve’s 2 day FOMC meeting later today. The Fed is expected to announce that it will continue its monthly tapering of bond purchases by another $10 billion this month, a move which would signal continued belief by the Fed in a U.S. economic recovery. Full Story
By: Manan Somani, Insignia Consultants - 30 April, 2014
The wider trading range in gold is $1264-$1286-$1311-$1335. These are the key price levels to watch to watch till Friday. Long term support for the month of May is at $1264 and in case gold trades over $1264 in May then the chances of re test of this year’s high of $1392.60 will be very high. Gold will rise to $1392.60 if and only if the Federal reserve directly and very clearly says that taper beyond June is not certain. Full Story
By: Chris Mullen, Gold-Seeker.com - 29 April, 2014
Gold fell $10.16 to $1286.44 in late Asian trade before it rebounded to $1300.40 at about 9:30AM EST, but it then drifted back lower into the close and ended with a loss of 0.04%. Silver slipped to as low as $19.324 and ended with a loss of 0.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 April, 2014
The gold price closed at $1,296.60 up $3.70 on yesterday, in New York. It was not showing any independent moves, simply moving with the dollar. In Asia it was being pulled back to $1,293 just ahead of London’s opening. In London it was Fixed this morning at $1,289.75 down $12.25 and in the euro at €930.019 down €6.805. The euro itself stood at $1.3868 barely changed. Ahead of the opening in New York gold stood at $1,290.40 and in the euro at €930.20. Full Story
Markets await this week's U.S. jobs report and a Federal Reserve policy meeting for further hints regarding the fragile U.S. economy and the extent to which ultra loose monetary policies will continue. Tensions between the West and Russia over Ukraine remained very high after the United States imposed new sanctions on key Russian business figures. This prompted Moscow to denounce "Cold War" tactics. Full Story
By: Manan Somani, Insignia Consultants - 29 April, 2014
John Kerry is a Vietnam war veteran and through Ukraine it seems he has put on battle fatigues. Kerry is just words for peace and behind it he is just doing the reverse. He is just howling the word "sanctions" to Russia. Is USA trying to take the Snowden revenge through Ukraine? Mr. Putin does not fear "sanctions" and he must have calculated the economic effects on the Russian economy while trying to protect Russian interests in Ukraine. Full Story
By: Chris Mullen, Gold-Seeker.com - 28 April, 2014
Gold saw slight gains in Asia before it edged down to $1299.39 at about 8AM EST and then rebounded to $1303.70 in the next hour of trade, but it then fell to a new session low of $1292.51 by late morning in New York and ended with a loss of 0.47%. Silver slipped to as low as $19.498 and ended with a loss of 0.61%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 April, 2014
The gold price closed at $1,292.90 down $10.20 on the previous Friday, in New York. In the last week it was pushed back to support just above $1,280 but recovered in Asia and London to Fix this Monday morning at $1,302.00 and in the euro at €938.446 down only €3.169 on the last 11 days. The euro itself stood at $1.3874 half a cent stronger than 11 days ago. Ahead of the opening in New York gold stood at $1,301.00 and in the euro at €937.79. Full Story
Gold eked out small gains in European trading, as growing tensions in Ukraine are contributing to higher prices. On Thursday prices dropped to $1,268.40 per ounce – the lowest since early February, before rallying due to tensions over Ukraine. In the last 3 sessions, gold bullion has rallied nearly 2%, as the crisis in Eastern Europe bolsters safe haven demand. Full Story
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