By: Chris Mullen, Gold-Seeker.com - 8 January, 2016
Gold dropped down to $1095.89 after the release of this morning’s jobs data before it bounced back to $1105.06 by late morning in New York and then drifted back lower again in early afternoon trade, but then edged back higher in late trade and ended with a loss of just 0.61%. Silver slipped to as low as $13.886 and ended with a loss of 2.59%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 January, 2016
The New York gold price closed Monday at $1,109.30 up from $1,093.50 In Asia it was moved down to $1,100 but in London it slipped back slightly where the LBMA price was set at $1,097.45 up from $1,096.00 with the dollar index a tad higher at 98.82 up from 98.72 yesterday. The euro was at $1.0882 up from $1.0863 against the dollar. The gold price in the euro was set at €1,010.12 up from €1,010.23 as the euro steadied. Ahead of New York’s opening, the gold price was trading at $1,099.00 and in the euro at €1,011.65. Full Story
- Gold acts as safe haven in 2015 … for those who need safe haven - Gold gains in CAD, AUD, NZD, ZAR, RUB and most emerging market currencies - Gold essentially flat in EUR (-0.3%) as ECB QE supports gold - Gold lower in USD, GBP, CNY, INR, JPY, CHF - Of 18 major currencies, gold was higher in 11 currencies and lower in 7 - Hallmarks of market bottoming and bodes well for 2016 - Gold over 4% higher in USD, EUR and GBP so far in January Full Story
By: Chris Mullen, Gold-Seeker.com - 7 January, 2016
Gold climbed higher throughout most of world trade and ended near its late session high of $1109.90 with a gain of 1.44%. Silver surged to as high as $14.373 and ended with a gain of 2%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 January, 2016
The New York gold price closed Monday at $1,093.50 up from $1,078.50. In Asia it moved up to $1,099.35 but in London it held back slightly where the LBMA price was set at $1,096.00 up from $1,083.85 with the dollar index lower at 98.72 down from 99.42 yesterday. The euro was at $1.0863 up from $1.0741 against the dollar. The gold price in the euro was set at €1,010.23 up from €1,009.03 as the euro recovered. Ahead of New York’s opening, the gold price was trading at $1,102.45 and in the euro at €1,014.07. Full Story
The Perth Mint’s gold sales rose in December from the prior month, but annual sales slid by nearly a fifth in 2015. Gold sales in December rose to 40,096 ounces from 31,664 ounces in November, the mint said on its website on Wednesday as reported by Reuters. While gold sales rose in December from the prior month, but annual gold sales slid by nearly a fifth in 2015. Sales slid 16 percent for the year, after dropping by a third in 2014. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 January, 2016
Gold climbed higher throughout most of world trade and ended near its midafternoon high of $1094.89 with a gain of 1.39%. Silver rose to as high as $14.127 and ended with a gain of 0.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 January, 2016
The New York gold price closed Monday at $1.078.50. In Asia it held there but in London it broke higher to see the LBMA price set at $1,083.85 up from yesterday’s $1,078.00 with the dollar index higher at 99.42 up from 98.94 yesterday. The euro was at $1.0741 down from $1.0902 against the dollar. The gold price in the euro was set at €1,009.03 up from €1,001.86 as the euro continued weakening. Ahead of New York’s opening, the gold price was trading at $1,086.25 and in the euro at €1,011.08. Full Story
Overnight, North Korea said it successfully tested a miniaturised hydrogen nuclear device on Wednesday, setting off alarm bells in Japan and South Korea. Relations between Saudi Arabia and Iran collapsed over the weekend after the Kingdom’s execution of nearly 50 people including a Shi’ite cleric, a prominent critic of Saudi policy, set off violent protests and condemnation from Tehran. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 January, 2016
Gold gained $6.80 to $1081.80 in London before it fell back to $1075.28 at about 9AM EST, but it then chopped back higher into the close and ended with a gain of 0.33%. Silver rose to as high as $14.072 and ended with a gain of 0.94%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 January, 2016
The New York gold price closed Monday at $1.075.00. In Asia and London, prices rebounded to $1,077.00 with the dollar index higher at 98.94 up from 98.41 yesterday. The LBMA gold price setting was set at $1,078.00 up from $1,072.70. The euro was at $1.0902 down from $1.0922 against the dollar. The gold price in the euro was set at €1,001.86 up from €983.95 as the euro weakened. Ahead of New York’s opening, the gold price was trading at $1,078.50 and in the euro at €1,002.46. Full Story
The bail-in architecture was seen in the Cyprus bank bail-ins that were seen in 2003. Then, deposits of over €100,000 were confiscated in “haircuts” in order to bail out banks in Cyprus. Now the exact same principles that were used in Cyprus – which we were told was unique and a one off – are going to apply to all of Europe. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 January, 2016
Gold gained $22.85 to $1082.95 by midmorning in New York before it chopped back lower into midday, but it still ended with a gain of 1.41%. Silver rose to as high as $14.188 and ended with gain of 0.36%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 January, 2016
The New York gold price closed Wednesday at $1,060.10 at the end of last year. In Asia and London, prices have rebounded to $1,069.5 with the dollar index slightly higher at 98.41 up from 98.28 at the end of 2015. The LBMA gold price setting was set at $1,072.70 up from $1,062.25 last year. The euro was barely changed at $1.0902 up from $1.0922 last year against the dollar. The gold price in the euro was set at €983.95 up from €977.48. Ahead of New York’s opening, the gold price was trading at $1,072.55 and in the euro at €983.81. Full Story
It is now back to some serious trading. Traders will be once again looking forward to US employment numbers this week and then decide on March interest rate hike. The effect of interest rate hike by the Federal Reserve will be felt in the month of February and beyond. Every year something unexpected happens. I will be closely watching the developments in Eastern Europe, Middle east and North Africa and look for clues on how they will impact metals and energies market. Geopolitical risk has failed to impact metals and energy markets last year. One needs to keep a close watch on these regions. Full Story
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