By: Chris Mullen, Gold-Seeker.com - 4 December, 2015
Gold gained $8.41 to $1071.61 just before this morning’s jobs data before it quickly fell to see a slight loss just after its release, but it then climbed to a new session high of $1088.79 by midmorning in New York and ended with a gain of 2.07%. Silver rose to as high as $14.612 and ended with a gain of 3.12%. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 4 December, 2015
The moves by the E.C.B. underwhelmed the market and the dollar fell back heavily against the euro. It was expected that the euro would fall to $1.03 but instead it has risen to $1.0938. If the gold/euro relationship holds anywhere around here, we should see a further rise in gold towards the critical $1,080 level. This is subject to what the Fed does today. The shorts got a shock and may well have started to close positions, or are waiting for the Fed today before they do. They may precipitate the rally. Full Story
‘Super Mario’, the European Central Bank’s monetary magician, disappointed markets yesterday as continuing and unprecedented monetary easing failed to prevent a sharp sell-off in stock and bond markets which has continued today. Full Story
There will be massive short covering in case gold and silver rise today. Gold benefited as the European central bank cut interest rates by less than expected. Yellen’s testimony was on expected lines. After today’s US jobs numbers, the pace of interest rate hikes by the Federal reserve next year will dictate financial markets. Gold will either rise to $1225 in the near term or fall to $947, there will be nothing in between. Silver will either fall to $1276/$1123 or rise to $1976, there will be nothing in between. I am against selling gold unless it trades below $1131 and silver trades below $1355 any day. Full Story
By: Chris Mullen, Gold-Seeker.com - 3 December, 2015
Gold dipped down to $1049.00 by a little after 4AM EST, but it then chopped back higher for most of the rest of trade and ended with a gain of 1%. Silver slipped to $13.917 before it rallied back to $14.146 and then fell back off a bit, but it still ended with a gain of 0.57%. Full Story
Britain is continuing to debate its role and its participation within the European Union in preparation for a major vote on whether to leave the union altogether. There are indications that the referendum – known as Brexit – is likely to be held in 2016. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 3 December, 2015
This is not a ‘currency war’ between the U.S. and E.C.B. as they are seemingly acting “in concert” with each other. The story is far deeper than just this week. We note that the euro’s content in central bank reserves has plummeted across the world. Were these central banks warned of the fall of the euro? Or did they see the euro losing value in 2012? Full Story
By: Chris Mullen, Gold-Seeker.com - 2 December, 2015
Gold fell to as low as $1050.88 by early afternoon in New York before it bounced back higher at times, but it still ended with a loss of 1.52%. Silver slipped to as low as $13.929 and ended with a loss of 0.99%. Full Story
Gold is again acting as a hedge against currency depreciation and devaluation. Dollar and sterling investors have not needed a hedge in recent months given the buoyant dollar and indeed U.S. and UK equities and property. This is likely to change in the coming months and then gold will come into its own as a hedging instrument and a safe haven asset. Full Story
By: Chris Mullen, Gold-Seeker.com - 1 December, 2015
Gold gained $8.03 to $1073.03 in Asia before it chopped back lower in London, but it then climbed back higher in afternoon New York trade and ended with a gain of 0.38%. Silver rose to as high as $14.253 and ended with a gain of 0.57%. Full Story
The mint sold 97,000 ounces of American Eagle gold coins in November, up 185 percent from October and 62 percent higher from a year ago, after selling out of most of the 2015-dated coins as falling bullion prices attracted buyers. Strong demand came as spot gold XAU= prices fell around 7 percent to the lowest in nearly six years. This was the gold market’s biggest monthly drop in 2-1/2 years as traders and investors widely anticipated that the U.S. Federal Reserve will raise interest rates at its next meeting in mid-December. Full Story
By: Chris Mullen, Gold-Seeker.com - 30 November, 2015
Gold saw slight losses in Asia, but it then climbed to as high as $1069.78 in New York and ended with a gain of 0.6%. Silver rose to as high as $14.199 in London, but it then chopped back lower in New York and ended with a loss of 0.07%. Full Story
Gold has fallen so far this year. A US interest rate hike has been the sole factor for gold’s demise this year. The Federal Reserve will in almost all certainty raise interest rates in December. Investment demand for gold has been negative this year. In the first half of 2016, the pace of US interest rate hikes will be one of the main factors to watch. Full Story
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