By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 July, 2015
New York closed at $1,165.60 down $2.90. Asia and London took it back up to $1,169.50. The dollar was 0.60 of a cent weaker at $1.1054 and the dollar Index was lower at 95.93 down from 96.37. The LBMA gold price was set this morning at $1,168.25 up $3.95. The euro equivalent was €1,052.67 up €1.67 Ahead of New York’s opening, gold was trading in London at $1,168.60 and in the euro at €1,053.03. Full Story
- Gold price has been flat but interesting developments bubble under the surface - Emergence of new tech is undermining existing banking cartel and will make owning and trading gold easier - Gold price my rise if current shortages cause COMEX to fail to deliver physical gold - Texas gold “repatriation” is highly significant development being ignored by mainstream - Financial illiterates driving NATO and IMF policy Full Story
Gold fell $12.36 to $1156.14 just before this morning’s jobs data before it rallied to almost unchanged in the next half hour of trade and then drifted back lower in the next couple of hours, but it then bounced back higher into the close and ended with a loss of just 0.25%. Silver slipped to $15.508 before it jumped back to $15.757 and then also fell back off, but it still ended with a gain of 0.38%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 July, 2015
New York closed at $1,168.50 down $4.00. Asia and London took it down to $1,164. The dollar was 0.75 of a cent stronger at $1.1054 and the dollar Index was higher at 96.37 after being 95.70. The LBMA gold price was set this morning at $1,164.30 down $7.40. The euro equivalent was €1,051.00 down €6.73. Ahead of New York’s opening, gold was trading in London at $1,162.60 and in the euro at €1,050.18. Full Story
Gold drifted lower in quiet trade and ended near its late session low of $1167.60 with a loss of 0.34%. Silver slipped to as low as $15.55 and ended with a loss of 0.83%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 July, 2015
New York closed at $1,172.50 down $6.70. Asia and London held it there. The dollar was half a cent stronger at $1.1124 and the dollar Index was higher at 95.70 after being 95.24. Then the euro started to fall again and the LBMA gold price was set this morning at $1,171.70 down $3.30. The euro equivalent was €1,057.73 up €5.81. Ahead of New York’s opening, gold was trading in London at $1,170.20 and in the euro at €1,054.80. Full Story
- Puerto Rico Governor says island cannot pay its $72 billion debt - Puerto Rico debt 15 times per capita median debt of the 50 U.S. states - Complicated arrangements misled bond investors to believe their funds were secure - Share price of bond insurer exposed to Puerto Rican debt plummeting, possibly on inside information Full Story
Gold fell $10.54 to $1168.66 by a little after 11AM EST before it bounced back to $1178.32 in the next hour of trade, but it then drifted back lower into the close and ended with a loss of 0.57%. Silver slipped to as low as $15.505 and ended unchanged on the day. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 June, 2015
New York closed at $1,179.20 up $5.10. Asia took it and London then pulled it back to $1,175.80. The dollar recovered by 1.5 cents to $1.1174 and the dollar Index was lower at 95.24 after being 95.61. The LBMA gold price was set this morning at $1,175 down $1.50. The euro equivalent was €1,051.92 down €12.79. Ahead of New York’s opening, gold was trading in London at $1,172.60 and in the euro at €1,048.23. Full Story
- Demand for physical gold from Europeans surges - Greek ATMs limit withdrawals to €60 per day - Greeks panic buy food, fuel and medicine - European elites threaten Greece with expulsion - Gold not subject to capital controls or “bail-ins” Full Story
Gold climbed $13.21 to $1187.31 in Asia before it fell back to $1173.92 by a little after 9:30AM EST, but it then bounced back higher into the close and ended with a gain of 0.43%. Silver slipped to as low as $15.697 and ended with a loss of 0.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 June, 2015
New York closed at $1,174.10 up $1.00. Asia took it up $6 and London then pulled it back to $1,177. The dollar was 2 cents weaker at $1.1017 and the dollar Index was higher at 95.69 up from 95.10. The LBMA gold price was set this morning at $1,176.50 up $2.10. The euro equivalent was €1,064.71 up €16.75. Ahead of New York’s opening, gold was trading in London at $1,180.00 and in the euro at €1,056.87. Full Story
- Persistent low rates leave central banks with no ammunition to fight next crisis - BIS says short-sighted central banks and governments contributed to current weaknesses - Lack of policy options have forced some central banks to stretch “boundaries of the unthinkable” - Bust in developed economies the main risk facing global economy - Greece prepares to default - China markets routed overnight - Gold will be last man standing when currencies collapse Full Story
This will be a big week for commodity markets and currency markets. (a) US June nonfarm payrolls (b) Greece drama (c) US Independence day vacation. These can reverse the current direction of the markets and/or create another big sell off in gold, silver and copper. In the next two weeks, I am more than confident that a new trend will be there. It has been easing picking for gold, silver and copper traders. Just sell on any rise and make merry. This strategy will not work this week as there will be two way price movements. Full Story
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