By: Chris Mullen, Gold-Seeker.com - 2 August, 2013
Gold fell $26.96 to $1283.34 just before this morning’s jobs report before it spiked up to $1318.18 just after the report was released, but it then chopped back lower into the close and ended with a loss of 0.2%. Silver slipped to $19.21 before it jumped to as high as $20.269 and then also fell back off, but it still ended with a gain of 0.81%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 August, 2013
The gold and silver market looked strong through the day but in thin trade. Then in came sales from the SPDR gold ETF in size, which knocked the price down to $1,310. We assume the as HSBC is the Custodian, they chose to sell this gold in Asia, which again in thin trade pushed the gold price down to $1,287. The sales from the SPDR gold ETF were 6.31 tonnes which left the total of the SPDR gold ETF and the Gold Trust at 1,099.90 with the SPDR gold ETF at 921.045 tonnes, while the Gold Trust gold holding stood at 178.85 tonnes. Full Story
On Wednesday, the London Bullion Market Association (LBMA) published June clearing turnover statistics for the over-the-counter London Gold Market which revealed a new multi-year record of astronomical monthly ‘gold clearing’ activity for June and rounded off a quarter of record activity from April to June, a period during which the gold price fell substantially. These monthly statistics are usually released at least one month after the end of the reporting month, hence the latest figures were released on July 31st. Full Story
The European central bank chief said yesterday that the worst is over for the eurozone. This implies that there will be higher growth over the coming months. Interest rates will continue to be near record lows in the UK and the eurozone for the rest of the year. The UK could start tapering from the first quarter of next year while I do not foresee any change in Eurozone interest rates till the end of next year. Incoming US economic performance point to steady growth which suggests it will result in reduced investment demand for gold and silver. Full Story
By: Chris Mullen, Gold-Seeker.com - 1 August, 2013
Gold climbed $5.50 to $1328.30 at about 8:30AM EST, but it then fell to as low as $1308.22 by midday and ended with a loss of 0.94%. Silver slipped to $19.55 in Asia before it climbed to $19.973 in London, but it then fell back off in New York and ended with a loss of 0.81%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 August, 2013
New York closed at $1,322.80 down $3.50 on yesterday. Asia let it slip $3 and London held it there until the Fix which set it higher at $1,323.75 down $7.75 and in the euro at €999.207 down only €3.49. Ahead of New York’s opening gold was at $1,324.35 and in the euro at €1.000.64. Full Story
Gold rose in early Asian trading, then fell back to lose some of its early gains in anticipation of the Federal Reserve’s statement. The statement, which offered no hint of a stimulus pullback, prompted an afternoon rally but the price ended the day’s trading with a loss of 0.26%. Silver finished the day with a gain of 0.51%. Full Story
The Federal Reserve has kept the markets in limbo and has said nothing about tapering in September. The Federal Reserve said persistently that low inflation could hamper the economic expansion and they pledged to keep buying $85 billion in bonds every month. “The committee recognizes that inflation persistently below its 2 percent objective could pose risks to economic performance, but it anticipates that inflation will move back toward its objective over the medium term,” the Federal Open Market Committee said today after a two-day meeting in Washington. Full Story
Gold jumped to $1338.55 in early Asian trade before it fell to as low as $1306.20 at about 11AM EST and then bounced back higher after this afternoon’s fed statement, but it still ended with a loss of 0.26%. Silver slipped to as low as $19.39 at about noon EST, but it then rallied back higher in the next few hours of trade and ended with a gain of 0.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 31 July, 2013
New York closed at $1,326.30 down $3.10 on yesterday. Asia took it higher to $1,331 and then London held it there before Fixing it at $1,331.50 up $9.25 and in the euro at €1,002.7 up €6.00. Ahead of New York’s opening gold was at $1,333.40 and in the euro at €1.005.01. Full Story
The PRICE of wholesale gold fell back to $1320 per ounce Wednesday lunchtime in London as new data showed the US economy expanding faster-than-expected. Second quarter GDP rose 1.7% in real terms from a year earlier, the Bureau of Economic Analysis said. Full Story
Gold climbed today supported by increased fund buying on target for its largest monthly gain since January 2012, fuelled by hopes for a continuation of money printing and bond buying by central banks. The U.S. Federal Reserve's policy statement is at 1800 GMT, but unlike the last meeting, Chairman Ben Bernanke will not hold a news conference to give any further guidance. Full Story
Gold fell $11.30 to $1318.10 in Asia before it rallied back to $1328.80 in London and then dropped back to $1318.06 in early New York trade, but it then rallied back higher into the close and ended with a loss of just 0.23%. Silver slipped to as low as $19.53 in Asia and rose to as high as $19.877 in London before it also fell back off, but it ended with a loss of just 0.6%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 July, 2013
New York closed at $1,329.40 down $3.60 on yesterday. Asia allowed it to slip slightly to $1,327 and then London came in to take it down to $1,322.40 ahead of the Fix where it was Fixed at $1,322.25 and in the euro at €996.646 down €4.60. Ahead of New York’s opening gold was at $1,322.85 and in the euro at €996.57. Full Story
PRECIOUS METALS held in a tight range in London on Tuesday morning, moving sideways as world stock markets rose and commodities slipped ahead of the US Federal Reserve meeting, which begins today. Full Story
Gold is remaining steady ahead of the key U.S. Fed policy meeting later today. Mixed economic data from the U.S. has left no clues as to when the Fed will taper its stimulus program. Gold bullion prices reached a five week high of $1,347.69/oz last week. Full Story
Gold and silver are at a crossroads and will have a big one way move anytime. It will be either $1423 or $1248 in a week’s time. Silver will have a technical break down only below $1930. The federal reserve meeting tomorrow should not have any big impact on commodities and currencies unless Ben Bernanke wants to shake them. Full Story
Gold fell $10.13 to $1322.87 in Asia before it climbed to as high as $1337.74 in London, but it then chopped back lower in New York and ended with a loss of 0.27%. Silver slipped to $19.69 before it rose to as high as $20.204, but it also fell back off in New York and ended with a loss of 0.45%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 July, 2013
New York closed at $1,333.oo up $1.50 on the day on Friday. Asia allowed it to wallow around $1,228 but London came in with strong physical demand to lift the gold price back to Fix at $1,330.75 up $3.00 on Friday and was Fixed in the euro at €1,001.241 €3.00. Ahead of New York’s opening gold was at $1,336.90 and in the euro at €1,005.79. Full Story
WHOLESALE GOLD prices reversed an overnight drop of $10 per ounce to trade above $1335 lunchtime Monday in London, gaining in what dealers called "very quiet" trade. Silver also rallied from an earlier drop, adding 1.9% to trade above $20.10 per ounce. Japanese stock markets fell hard as the Yen rose on the currency markets. Full Story
Gold inched lower today after three weeks of bullish sentiment saw gains for the yellow metal. Caution arrived as investors await the U.S. Federal Reserve, the Bank of England and the ECB's policy meetings this week. Bullish bets on gold futures and options increased this week from a fourth month high seen last week; on speculation that the U.S. Fed will keep interest rates low reported the CFTC on Friday. Full Story
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