By: Chris Mullen, Gold-Seeker.com - 1 August, 2014
Gold edged up to $1285.78 in Asia before it dropped back to $1280.48 just as this morning’s jobs data was released, but it then rose to a new session high of $1296.21 in the next couple of hours of trade and ended with a gain of 0.87%. Silver rose to as high as $20.541 at one point, but it then fell back off into the close and ended with a loss of 0.15%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 August, 2014
The gold price closed at $1,282.10 down $14.70 on Thursday in New York. In Asia and early London, prices rose to $1,287.30 as the euro slowed its fall to $1.3389. The gold price was Fixed at $1,284.50 down $10.50 and in the euro at €959.155 down €7.768, while the euro was unchanged at $1.3392. Ahead of New York’s opening, gold was trading at $1,287.30 and in the euro at €961.46. Full Story
Palladium was the only one of the major precious metals to rise in July, climbing 3.2% for its sixth month of gains. Platinum was down 1.8%, silver down 3% and gold down 3.4%. Silver for immediate delivery was little-changed in London at $20.40 an ounce. Platinum fell marginally and was at $1,463/oz. Palladium was marginally lower at $871/oz and remains near the 13 year nominal high of $889.75/oz. Full Story
Gold and silver are looking bearish at the moment and can fall further. Gold needs to trade over $1276 and silver needs to trade over $2035 to prevent further selling. This month there will be sellers on any rise in gold as long as it does not break $1360 (only geopolitical risk and Asian demand can save gold in the short term). Full Story
Gold saw only slight losses in Asia and London, but it then fell back off further for most of trade in New York and ended near its early afternoon low of $1281.36 with a loss of 1.13%. Silver slipped to as low as $20.343 and ended with a loss of 1.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 31 July, 2014
The gold price closed at $1,296.80 down $3.80 on Wednesday in New York. In Asia and early London, prices fell to $1,294 as the euro continued to slip to $1.3391. The gold price was Fixed at $1,295.00 down $2.50 and in the euro at €966.923 down €1.505, while the euro was weaker at $1.3393. Ahead of New York’s opening, gold was trading at $1,295.10 and in the euro at €967.43. Full Story
Silver for immediate delivery rose 0.5% to $20.81/oz in London. Platinum lost 0.2% and was at $1,481/oz. Palladium was marginally higher at $882/oz and remains near the 13 year nominal high of $889.75/oz. Gold is flat in London this morning after gold in Singapore remained very close to the $1,295/oz level overnight. Asian trade was limited to a range of $6.50 and only 8,500 contracts were traded on Globex. Futures trading volume declined and was 39% below the average of the last 100 days. Traders appear to be waiting for the non farm payrolls data tomorrow. Full Story
There were no surprises in the FOMC statement. The monthly taper has been reduced to $10 billion a month. Inflation will be the key going ahead. In my view for US interest rates on or before March 2015 (a) US employment growth has to maintain the current rate (b) US headline inflation has to trade over two percent for few months. If both these conditions are not met, then US interest rates could be shifted further by more than a quarter. Full Story
Gold dropped $8.89 to $1291.71 just after this morning GDP announcement before it bounced back to $1303.12 and then fell back towards its earlier low by late morning in New York, but it then rallied back higher in afternoon trade and ended with a loss of just 0.3%. Silver fell to as low as $20.45 at one point, but it then bounced back higher in the last five hours of trade and ended with a gain of 0.1%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 July, 2014
The gold price closed at $1,300.60 down $5.50 on Tuesday in New York. In Asia and early London, prices fell to $1,299.20 as the euro lurched lower reaching $1.3398. The gold price was Fixed at $1,297.5 down $9.50 and in the euro at €968.428 down €4.124, while the euro was weaker at $1.3398. Ahead of New York’s opening, gold was trading at $1,298.40 and in the euro at €968.74. Full Story
Gold is flat in London this morning after gold in Singapore was also tethered to the $1,300/oz level overnight. Futures trading volume declined after recent increases and was 31% below the average of the last 100 days, Bloomberg data shows. Full Story
Gold and silver are looking mildly bearish at the moment and need to trade over $1303 and $20.70 to attract buyers. Russia and other anti US central banks increasing their gold reserves has not had a huge impact on bullion. Geopolitically speaking the next three months until October will be very crucial for bullion. On one hand Asians are ready to gobble up gold and silver on any major price fall. Full Story
Gold climbed $6.93 to $1312.03 at about 4AM EST before it dropped down to $1296.34 in the next 8 hours of trade, but it then rallied back higher in the last four hours of the day and ended with a loss of just 0.34%. Silver slipped to as low as $20.472 and ended with a loss of 0.1%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 July, 2014
The gold price closed at $1,305.10 down $2.30 on Monday in New York. In Asia and early London, prices rose to $1,310. The gold price was Fixed at $1,307.50 up $2.50 and in the euro at €972.842 up €1.643, while the euro was slightly stronger at $1.3440. Ahead of New York’s opening, gold was trading at $1,309.00 and in the euro at €974.25. Full Story
Gold rose 0.4% in London this morning after gold in Singapore traded sideways overnight. Futures trading volume continues to increase and was almost double the average for the past 100 days for this time of day, Bloomberg data shows. Full Story
Gold edged up to $1309.13 in Asia before it dropped down to $1301.77 by a little after 9AM EST and then bounced back higher at times, but it still ended with a loss of 0.18%. Silver slipped to as low as $20.517 and ended with a loss of 0.58%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 July, 2014
The gold price closed at $1,307.40 up $15.00 on Friday in New York. In Asia and early London, prices slipped back to $1,304. The gold price was Fixed at $1,305.00 up $12.25 and in the euro at €971.199 up €11.474, while the euro was slightly weaker at $1.3437. Ahead of New York’s opening, gold was trading at $1,304.50 and in the euro at €970.72. Full Story
Silver for immediate delivery fell 0.4% to $20.68 an ounce in London this morning. Platinum added 0.4% to $1,485 an ounce. Palladium gained another 0.5% to $885.05 an ounce and is a whisker away from new 13 year nominal highs. Gold and silver were marginally lower last week but both spiked towards the close on Friday which could be a harbinger for further price gains this week. Gold jumped $15.80 to as high as $1,308.20 in the last minutes of trade and silver surged to as high as $20.727. Full Story
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