By: Chris Mullen, Gold-Seeker.com - 2 September, 2016
Gold dipped $3.47 to $1309.83 in Asia before it jumped up to $1327.70 after the release of this morning’s jobs data and then fell back off into midday, but it then rallied back higher in afternoon trade and ended with a gain of 0.94%. Silver surged to as high as $19.405 and ended with a gain of 2.76%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 September, 2016
This week alone has seen attempts on COMEX to crush the gold price with High Frequency Trading dumping $1.5 billion worth of Futures contracts onto the market. The day before yesterday and yesterday saw over 17 tonnes of gold dropped into the physical market [which should feed through to London] and yet the gold price in the last day has bounced off $1,306. Full Story
This is yet another example of a bank not making good on promises to redeem their gold investment products, as seen with ABN Amro in 2013 and indeed Julius Baer in recent months as we pointed out yesterday (see here). It is the latest example of the unappreciated risk of owning gold exchange traded commodities (ETCs), exchange traded funds (ETFs) and indeed most institutional gold investment offerings. Full Story
Gold and silver will see another big crash if the US nonfarm payrolls numbers comes in over 230,000. On the contrary chances of a rise to $1434+ will be high if the number comes in below 160,000 and without upward revisions to previous months. September’s FOMC is the last meeting where manipulations can be done to support Hillary Clinton. The only support which the Federal Reserve can do is to prevent the US stock markets from falling. I believe the Federal Reserve may not raise interest rates this month and will give a hawkish view on future interest rate hikes. Full Story
By: Chris Mullen, Gold-Seeker.com - 1 September, 2016
Gold saw slight gains in Asia before it dropped down to $1302.62 at about 9AM EST, but it then jumped to $1314.88 in the next four hours of trade and ended with a gain of 0.38%. Silver rose to as high as $18.928 and ended with a gain of 1.18%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 September, 2016
The Technical picture worsened in the last day as gold dropped closer to $1,300. Nevertheless, we are very aware that buyers are line up ready for any incursion below $1,300. The dollar’s strength remains the focus of attention as the financial world attempts to pre-empt the Fed and expect a rate hike in September [well ahead of elections] and again possibly in December [after the elections] or later. Full Story
“Delivery of gold” has been refused by a popular German gold exchange traded commodity (ETC), Xetra-Gold, which is offered by Deutsche Bank, in the latest example of the risk of owning gold exchange traded commodities (ETCs), exchange traded funds (ETFs) and indeed most institutional gold investment offerings. Full Story
Summer in the northern hemisphere is over. Demand time in Asia is there for the next seventy days. In the next seventy days Asian demand will dictate the direction for next year. August’s fall in gold and silver aided by refocus of investor to US interest rates has resulted in a bullish outlook getting a mid year review. I believe that gold and silver will fight over the challenge of higher US interest rates and that the dip in prices over the next seventy days should be used to invest for the next four years. Full Story
By: Chris Mullen, Gold-Seeker.com - 31 August, 2016
Gold gained $5.19 to $1316.09 in Asia before it dropped down to $1304.50 in early New York trade, but it then bounced back higher in midmorning action and ended with a loss of just 0.2%. Silver rose to as high as $18.865 in Asia before it fell back to $18.578, but it still ended with a gain of 0.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 31 August, 2016
Shanghai was stronger than New York yesterday, then London walked the middle road opening at $1,313. The dollar is again strong today, but the Yuan was slightly stronger still. We are aware of the care with which the People’s Bank of China is handling the exchange rate so as to not appear to be purposely devaluing against the dollar, with only a month to go before the Yuan is home and dry as part of the S.D.R. Full Story
Mark O’Byrne, Research Director of GoldCore, was interviewed by Max Keiser about the arrival of negative interest rates in Ireland and Germany, the risk of bail-ins, the return of a rental and property bubble in Dublin, the Irish and global debt bubble and why wealthy individuals and institutions are diversifying into gold. Full Story
By: Chris Mullen, Gold-Seeker.com - 30 August, 2016
Gold drifter lower throughout most of trade in London and New York and ended near its late session low of $1309.22 with a loss of 0.94%. Silver slipped to as low as $18.577 and ended with a loss of 1.22%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 August, 2016
Please note that the moves in the last few days in the gold price have seen barely any physical action, so prices were simply adjustments to changes in exchange rates. Take a look at the table in yesterday’s report and you clearly saw that the gold price rose in the euro but fell in the dollar because of changes in exchange rates. In this way, gold is acting as a measure of value inside countries and not simply in comparison to its price in other currencies. It is a real defense against your own currency. Full Story
James Rickards, geopolitical and monetary expert and best selling author of the ‘The New Case for Gold’ considered today ‘the case against gold’ in best selling UK financial publication Money Week. Rickards debunks the most commonly held arguments against gold including that gold does not have a yield, there is not being enough gold to support the monetary and financial system and that gold “cannot support the growth of world trade and commerce because it doesn’t grow fast enough.” Full Story
The next week is very crucial for gold, silver and crude oil. Either they rise or they start another bearish phase. One needs to remain on the sidelines in every metal and energy. Controlled aggression will be the key to make maximum profits in September for short term traders. Firm yet flexible with no emotions to losses. Full Story
By: Chris Mullen, Gold-Seeker.com - 29 August, 2016
Gold saw slight losses in Asia and London, but it then climbed to as high as $1324.87 in afternoon New York trade and ended with a gain of 0.16%. Silver rose to as high as $18.864 and ended with a gain of 1.07%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 August, 2016
All currencies are weaker today than the dollar which jumped strongly after Janet Yellen’s comments indicating that a rate hike case is now stronger. Of course, the media tries to put us back on tenterhooks for a September rate hike and will continue to do so until it is seen and then do the same before the next rate hike or the next meeting of the FOMC. It is understandable as it is the main global financial story and, as we now see, in the stronger dollar. Will the dollar rise through 100 on the Index? We think not, simply because neither the Fed nor the Treasury wants this. Full Story
President Obama is set to leave a massive near $20 trillion debt crisis for his successor – be that Hillary Clinton or Donald Trump. The U.S. national debt reached $19.5 trillion last week and has been increasing by roughly $1 trillion a year during his Presidency and during the so called “recovery” as the U.S. government continues to spend money like a drunken sailor. Full Story
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