By: Chris Mullen, Gold-Seeker.com - 2 November, 2012
Gold fell to as low as $1674.36 by about 1:30PM EST before it bounced back higher in the last couple of hours of trade, but it still ended with a loss of 2.08%. Silver slipped to as low as $30.789 and ended with a loss of 4.01%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 November, 2012
New York closed at $1,713.70 down $7.50. This morning, Asia and London dealers were again moving the gold price alongside the euro and took it down further to $1,709.5 before it was Fixed at $1,708.25 down $15 and in the euro at €1,325.766 down €5 while the euro was slightly lower at €1: $1.2885. Ahead of New York’s opening gold stood at $1,709.30 and in the euro at €1,326.74. Full Story
SPOT MARKET prices to buy gold in Dollars dropped to below $1710 an ounce Friday morning, reversing gains from earlier in the week, while stocks and commodities fell and the US Dollar rallied ahead of the release of key US jobs data. Full Story
Gold inched down near $1,700/oz on Friday after a drop through its support level at $1,710-$1,712 initiated stop loss selling. The Nonfarm Payroll number for October is released at 1230 GMT. 125,000 are expected for Nonfarm Payrolls, while the Unemployment Rate number is expected at 7.9%. Better than expected employment data could be negative for gold as it may rescind additional QE from the US Fed. Full Story
By: Chris Mullen, Gold-Seeker.com - 1 November, 2012
Gold rose $5.45 to $1726.65 at about 8AM EST, but it then fell back off for most of the rest of trade and ended with a loss of 0.44%. Silver climbed up to $32.652 before it fell back to as low as $32.177 and ended with a loss of 0.16%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 November, 2012
New York closed at $1,721.20 up nearly $12.00. This morning, Asia and London dealers held it at that level before it rose to Fix at $1,723.25 up $5.00 and in the euro at €1,330.592 up €9 while the euro was slightly lower at €1: $1.2960. Ahead of New York’s opening gold stood at $1,723.25 and in the euro at €1,328.69. Full Story
WHOLESALE PRICES to buy gold rose to 7-session highs in London on Thursday morning, touching $1726 per ounce even as new data showed US employment rising at its fastest pace since February. The private-sector ADP payrolls report said the US added 158,000 jobs in October. Earlier data from the manufacturing sector in China, the world's #2 gold consumer, showed its slowdown to be easing. Full Story
Gold climbed $11.70 or 0.68% yesterday and closed at $1,721.20. Silver surged to hit a high of $32.411 and subsequently gave up some of its gains but still finished with a gain of 1.51%. The yellow metal remained steady as China’s PMI grew to 50.2 from 49.8. This was the first increase seen in three months and a reading greater than 50 signals expansion. Full Story
The recent consolidation phase in gold and silver will pave the way for big moves by tomorrow. The Chinese official purchasing managers index rose in October after a period of two months which suggests that there will be more growth over the coming months. Base metals will be supported at lower prices. Traders will start taking positions for the US October non farm payrolls tomorrow and the US presidential elections next week. Full Story
By: Chris Mullen, Gold-Seeker.com - 31 October, 2012
Gold climbed to as high as $1725.63 by late morning in New York before it fell back off a bit in afternoon trade, but it still ended with a gain of 0.68%. Silver surged to as high as $32.411 before it also fell back off, but it still ended with a gain of 1.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 31 October, 2012
New York closed at $1,709.50 up $0.5. This morning, Asia and London dealers drove it higher through the $1,712 area then higher. It then Fixed at $1,718.00 up $4.50 and in the euro at €1,321.538 down €1 while the euro was higher at €1: $1.3000. Ahead of New York’s opening gold stood at $1,719.25 and in the euro at €1,323.61. Full Story
WHOLESALE gold bullion prices rallied to a one-week high at $1720 an ounce Wednesday morning in London, though they still looked set to record a loss on the month, while European stocks opened higher before losing some ground and US markets prepared to re-open after being closed for two days. Full Story
Gold inched up on Wednesday but traders remain cautious ahead of the nonfarm payrolls report and the imminent US presidential election. The devastation of Hurricane Sandy will be a further blow to the already fragile U.S. economy. The destruction of property and vital infrastructure - two of the vital components in the wealth of a nation is negative for the economy. Full Story
Gold and silver are consolidating at the moment due to lack of trading volumes from the USA. This consolidation phase will be broken and a new range will be formed soon. The real fight between bulls and bears now starts. At lower prices physical demand will prevent prices from a crash while technical traders will be cautious going long at current prices. Full Story
By: Chris Mullen, Gold-Seeker.com - 30 October, 2012
Gold climbed $6.17 to $1715.17 by about 7:30AM EST before it fell back off in New York, but it still ended with a gain of 0.03%. Silver rose to as high as $32.118 before it also fell back off, but it still ended with a gain of 0.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 October, 2012
New York closed at $1,709.00 down $3. This morning, Asia and London dealers were lifting it back through $1,712 area. It then Fixed at $1,713.50 and in the euro at €1,322.655 down €4 while the euro was at €1: $1.29.55. Ahead of New York’s opening gold stood at $1,712.31 and in the euro at €1,323.61. Full Story
THE SPOT MARKET gold price traded just below $1715 an ounce during Tuesday morning's London session, little changed from last week's close, while European stock markets recovered their losses from a day earlier and UK and German government bond prices fell. Full Story
U.S. stock and bond markets were closed Monday due to Hurricane Sandy. Futures markets remained open. Stock and bond Markets will be closed today as well. The worst storms to have ever hit the East coast of the U.S. are estimated to have cost some $200 billion in damages and for the first time in more than a century, weather has stopped U.S. equity trading for two straight days. Full Story
The effects on the US economy by the damage done by hurricane sandy will be the key. I am expecting more money supply by the Federal Reserve for reconstruction. Hurricane sandy will create more short term temporary jobs in the reconstruction and rehabilitation sector in November. Full Story
By: Chris Mullen, Gold-Seeker.com - 29 October, 2012
Gold fell $6.05 to $1705.95 by about noon EST, but it then rallied back higher in afternoon trade and ended with a loss of just 0.18%. Silver slipped to as low as $31.65 by a little after 8AM EST before it also bounced back higher at times, but it still ended with a loss of 0.97%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 October, 2012
New York closed at $1,712.00 down 70 cents. This morning, Asia and London dealers are pull it back through $1,714 area. From there it hovered around $1,712 in line with the euro’s moves and then Fixed at $1,712.00 up $8 on Friday and in the euro at €1,326.720 up €10 while the euro was at €1: $1.29.04 weaker than Friday’s over €1: $1.30+. Ahead of New York’s opening gold stood at $1,712.31 and in the euro at €1,326.75. Full Story
U.S. DOLLAR gold prices dropped below $1710 an ounce Monday morning in London, below where they ended last week, after failing to hold onto gains made in Asian trading. Silver prices dropped below $31.80 an ounce, also down from Friday's close, as European equities also fell. US stock markets will be closed today as a result of Hurricane Sandy – the first unscheduled US market closure since September 11 2001, and the first to be caused by weather since 1985. Full Story
We have the US October non farm payrolls this week. Traders will prefer not to go short before this number which can result in gains for gold and silver this week. Technically gold and silver are in a neutral zone to bearish zone. A positive spate of good economics from the USA and the UK should prevent a further slide in base metals and energies. Intra day volatility will rise over the next two weeks. Full Story
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