By: Chris Mullen, Gold-Seeker.com - 8 November, 2013
Gold dropped $25.55 to $1281.15 at about 10:30AM EST before it bounced back higher at times, but it still ended with a loss of 1.48%. Silver slipped to as low as $21.25 and ended with a loss of 0.69%. Full Story
The PRICE of GOLD slumped $20 per ounce in 10 minutes Friday lunchtime in London, as the Dollar rose after much stronger than expected US jobs data. Non-farm payrolls added 204,000 jobs net in October, the Bureau for Labor Statistics said, beating analysts' lowest prediction in a year of 125,000. Dropping 2.5% from last Friday's finish, Dollar gold hit its lowest London Fix since 16th October at $1285.50 per ounce. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 November, 2013
Gold closed slightly weaker at $1,317.20 up $6.40 in New York on Wednesday. On Thursday it closed at $1,306.70 Asia lifted it $2, then London came in and took it higher. At the Fix it was set at $1,309.00 in London, down $8 over Wednesday’s Fixing. In the euro it Fixed at €975.119 up €0.307 over Wednesday’s Fixing. Ahead of New York’s opening the euro strengthened to $1.3419: €1 with gold at $1,309.50 and in the euro at €975.86. Full Story
Ultra loose monetary policies continue in the UK and EU. The Bank of England has decided to keep its key interest rate at a record low of 0.5% and continue its quantitative easing, money printing and bond buying at £375 billion. Currency debasement continues suggesting that the UK recovery is anaemic at best and remains vulnerable. Full Story
Gold and silver investors will be on the sidelines. Firms like Goldman and others have given a hyper negative view for gold and silver for next year. This will prevent huge investment demand. All I can say is that this gold and silver market is either for day traders/jobbers or for long term investors (two years and more). Those who wish to invest in gold and silver for a period of around six months need to wait for some more time. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 November, 2013
Gold jumped $8.60 to $1325.80 after this morning’s surprise ECB rate cut before it fell to $1296.49 after GDP came out stronger than expected, but it then bounced back higher in late morning New York trade and ended with a loss of just 0.79%. Silver shot to $21.996 before it fell back to $21.382 and then also rallied back higher, but it still ended with a loss of 0.83%. Full Story
WHOLESALE GOLD turned suddenly volatile lunchtime Thursday in London after the European Central Bank surprised analysts by cutting its key interest rate to a new record low of 0.25%. The Euro currency sank to an 8-week low vs. the Dollar, while European stock markets turned higher. Leaping towards 6-week highs for Eurozone investors, gold initially dropped $5 per ounce, and then rallied $15, before returning to the $1317 per ounce level seen throughout what traders called "soporific, slow" dealing so far this week. Full Story
Gold in euro terms is down 23.4% year to date. It appears to be consolidating between EUR 900/oz, the low on June 28th and EUR 1,100/oz, gold’s high back in late May. A signal from the ECB that it is going to loosen monetary policies even further could be the spark that gold needs to help prices get momentum to the upside again. Full Story
There is one section of traders which believes that the European central bank might be tempted to cut interest rates or give hints of more interest rate cuts in future meetings. Any hints of an interest rate reduction will result in the euro/us dollar tumbling to 1.30 and gold and safe havens could see a temporary rise. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 November, 2013
Gold edged down to $1310.00 in Asia before it popped up to $1321.73 at about 6AM EST and then fell back to as low as $1314.69 in New York, but it still ended with a gain of 0.49%. Silver shot to as high as $22.035 before it also fell back off, but it still ended with a gain of 0.46%. Full Story
The following report is from data released today. The data would have normally been released on November 1st, if not for the government shutdown. The CFTC will continue to release CoT data every 1-3 business days until they are caught back up to their normal schedule. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 November, 2013
Gold closed slightly weaker at $1,310.80 down $0.60 in New York on Monday. Asia lifted it $3 before London took it higher ahead of the Fix to $1,318.65 after which it Fixed at $1,317.00 in London, up $2.75 over Tuesday’s Fixing. In the euro it Fixed at €975.050 up €3.7 over Tuesday’s Fixing. Ahead of New York’s opening the dollar weakened to $1.35.23: €1 with gold at $1,321.00 and in the euro at €976.82. Full Story
WHAT one trader called "very dull" trade saw gold trade unchanged from last Friday's finish of $1317 per ounce lunchtime in London. Silver also held unchanged midweek at $21.90 after a brief spike above $22.00 per ounce. World stock markets were meantime flat overall, while commodities reversed Tuesday's small drop. Full Story
Gold gained ground today and is up 0.6% as it tries to shake its longest losing streak in six months and the lowest prices seen in almost three weeks. Gold is range bound between $1,250/oz and $1,450/oz. The fundamentals including the current macroeconomic, systemic, geo-political and monetary conditions are favourable and suggest higher gold prices are likely in the coming months. Full Story
Gold, silver and copper are in a consolidation phase while crude oil despite being bearish is still oversold. As long as gold trades over $1296 downside risk will be limited. As long as silver trades over $2120 downside risk will be limited. The European central bank meeting tomorrow and US economic data release till Friday (including US October nonfarm payrolls) will be the key. There will be another wave of rise in gold and silver if and only if there is a clear indication that tapering by the Federal reserve will be in early 2014 and not in December. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 November, 2013
Gold dipped $5.20 to $1309.00 in Asia before it climbed back to $1319.16 at about 8AM EST and then dropped to $1305.77 in the next couple of hours of trade, but it then bounced back higher into the close and ended with a loss of just 0.26%. Silver climbed to $21.775 before it fell back to $21.543 in Asia, but it then rallied back higher in London and New York and ended with a gain of 0.28%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 November, 2013
Gold closed slightly weaker at $1,314.20 down $0.60 in New York on Monday. Asia held it a dollar lower before London took it lower to Fix at $1,311.25, as did London. Gold is still in consolidation mode. It Fixed at $1,314.25 down $0.50 over Friday’s Fix. In the euro it Fixed at €971.296 down €1.64 over Monday’s Fixing. Ahead of New York’s opening the dollar weakened to $1.3494: €1 with gold at $1,313.10 and in the euro at €973.10. Full Story
LONDON wholesale gold was unchanged Tuesday lunchtime from yesterday or from last week's finish at $1317 per ounce, as European shares again defied a drop in Asian stock markets to tick higher. Major government bond prices edged back, and commodities rallied from multi-month lows. Silver today bounced from a near 3-week low at $21.58 per ounce, more than 6.5% below last Wednesday's 6-week high. Full Story
Gold has had five consecutive days of weakness as a stronger greenback has led to traders selling gold on the COMEX. Even though the U.S. Fed maintained their ultra loose monetary policies last week, maintaining $85 billion a month in bond purchases, gold has lost its shine with momentum driven and computer driven traders and hedge funds. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 November, 2013
Gold edged down to $1311.06 in Asia before it popped up to $1322.44 at about 8AM EST and then drifted back lower for most of trade in New York, but it ended with a loss of just 0.05%. Silver slipped to $21.593 before it climbed back to $21.922, but it then fell back off into the close and ended with a loss of 1.01%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 November, 2013
Gold closed slightly weaker at $1,314.80 down $8.70 in New York on Friday. Asia held it at that level as did London as the euro weakened further and the dollar rose. But now gold is holding steady in the dollar. It Fixed at $1,314.25 down $0.50 over Friday’s Fix. In the euro it Fixed at €972.942 up €1.20 over Friday’s Fixing. Ahead of New York’s opening the dollar weakened to $1.3508: €1 with gold at $1,317.75 and in the euro at €975.53. Full Story
WHOLESALE trade in London left the price of gold sitting at last week's finish of $1317 per ounce Monday morning, as European shares rose with government bond prices but commodities slipped. Silver also held flat, trading near $21.90 per ounce – more than 5% below last Wednesday's 5-week high. The Euro ticked higher from a 6-week low to the Dollar. Full Story
This will present a buying opportunity as we enter a seasonal sweet spot for gold from November to February. November is gold’s strongest month in the last ten years and it has returned 4.93% on average since 2003. Since 1975, gold has returned nearly 1.5% on average in November (see table above). Physical demand in China and India appears to have fallen from the incredibly strong levels seen recently but store of wealth, physical buyers in the west continue to accumulate physical bullion in order to hedge against considerable macroeconomic and geopolitical risk. Full Story
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
