Gold fell $5.60 to $1317.80 in Asia before it popped up to $1328.70 after the release of this morning’s jobs data and then dropped back to $1316.60 in the next 2 hours of trade, but it then rallied back higher into the close and ended with a gain of 0.17%. Silver rose to as high as $17.74 and ended with a gain of 0.54%. Full Story
– All four precious metals outperform markets in August – Gold posts best month since January, up nearly 4% – Gold reaches highest price since US election, climbs due to uncertainty and safe haven demand – SPX 500 marginally higher; Euro Stoxx, Nikkei lower for month – Platinum is best performing metal climbing over 5% Full Story
Unlike August, September may not be an easy month to trade and invest. In the first half, US budgetary issues, pre FOMC speculation and political risk will drive financial markets. After the FOMC meet, early movers will start betting on global interest rate hikes for 2018, the US economic health till the first quarter of next year, and the UK exit from Eurozone news. As long as Trump remains the president of the USA, gold, silver and bitcoins will trade with an overall bullish direction. Winners will be there who are able to correctly judge the pace of rise and pace of fall. Overall the past few months, I am hearing calls for a sharp correction in US stock markets. I have yet to see one. Full Story
Gold fell $7.60 to $1300.60 in Asia and saw slight losses for most of trade in London, but it then steadily rose during all of the session in New York and ended at its last-minute high of $1323.40 and ended with a gain of 1.16%. Silver climbed to as high as $17.619 and ended with a gain of 1.15%. Full Story
– 4 reasons why “gold has entered a new bull market” – Schroders – Market complacency is key to gold bull market say Schroders – Investors are currently pricing in the most benign risk environment in history as seen in the VIX – History shows gold has the potential to perform very well in periods of stock market weakness (see chart) – You should buy insurance when insurers don’t believe that the “risk event” will happen – Very high Chinese gold demand, negative global interest rates and a weak dollar should push gold higher Full Story
August has been one of the best months for metals. Volatility was higher. Industrial metals zoomed and have the best month in the past few years. The big question is whether August’s trend will continue in September for industrial metals and gold. Copper, gold and nickel are testing key long term resistances. August trend will be there for them only on a break of key long term resistances. US economic data releases in August portray a robust economy. In my view interest rates should be hiked by the Federal Reserve at least once more this year. The Federal Reserve meeting in September will be relevant only if they signal the time frame for the next interest rate hike. Full Story
Gold traded mostly higher in Asia before it dropped down to $1305.30 at about 8:30AM EST and then bounced back higher into midday, but it still ended with a loss of 0.05%. Silver slipped to as low as $17.315 and ended with a gain of 0.23%. Full Story
– Trump could be planning a radical “reboot” of the U.S. dollar – Currency reboot will see leading nations devalue their currencies against gold – New gold price would be nearly 8 times higher at $10,000/oz – Price based on mass exit of foreign governments and investors from the US Dollar – US total debt now over $80 Trillion – $20T national debt and $60T consumer debt Full Story
Gold gained $14.20 to as high as $1325.70 in Asia, but it then drifted back lower in London and New York and ended near its late session low of $1305.60 with a loss of 0.2%. Silver rose to as high as $17.658 and ended with a loss of 0.52%. Full Story
– Gold surges as N. Korea fires ballistic missile over Japan – Safe haven buying sees gold break out to 10-month high after Jackson Hole and rising North Korea risk of attack on Guam – South Korea’s air force dropped eight MK 84 bombs near Seoul; simulating the destruction of North Korea’s leadership – Gold rises from $1,291 to $1,325; Silver surges 3.2% from $17.05 to $17.60 Full Story
North Korean risk is adding to the support of gold and silver bulls. Everywhere there is fear of Islamic terrorists striking anytime. The problem is not with Islam as a religion. The problem is with Saudi Arabia’s form of “Wahhabi Islam” which is very brutal and inhumane. Saudi’s are luring more and more people to practice “Wahhabi Islam” with the sole motive of ruling the world in the future. Crude oil money has ensured that Saudi’s finance the globalization of “Wahhabi Islam” in every nook and corner of world. Full Story
Gold rose throughout most of world trade and ended near its late session high of $1312.00 with a gain of 1.58%. Silver rose to as high as $17.476 and ended with a gain of 2.47%. Full Story
– Gold set to shine as Washington stumbles – “Bet on gold’s diversifying properties rather than political stability” – World’s largest asset manager believes Trump and political drama in the U.S. means gold likely to rise – Real rates flattening out and rising political instability – Blackrock’s Koesterich Full Story
This is a big week for the US dollar. As usual the US August nonfarm payrolls (NFP) will decide the possibility of a December interest rate hike. Over the past two months gold and silver have always fallen after the release of NFP, only to pare most of their losses the following week. Political news after the release had nullified the effects of NFP. If the trend of the past two months happens over the next seven days then Gold and silver can rise till the NFP and thereafter see a sharp fall and then begin the journey for another short term bull run. Full Story
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