By: Chris Mullen, Gold Seeker Report - 8 December, 2017
Gold edged up to $1249.60 in Asia before it dropped back to $1244.20 just after this morning’s jobs data was released, but it quickly popped back up to $1252.30 by midmorning and ended with a gain of 0.01%. Silver rose to as high as $15.894 and ended with a gain of 0.7%. Full Story
Gold needs to trade over $1236-$1240 zone till next week to prevent it from falling to $1216 and $1202. Silver needs to trade over $1540 till next week to be in a long term bullish zone. Gold and silver will zoom if and when this bitcoinmania comes down to earth. No one is invincible. I am sure bitcoin prices will stabilize sooner than later. Once bitcoin prices stabilize, gold and silver will zoom. Full Story
By: Chris Mullen, Gold Seeker Report - 7 December, 2017
Gold fell throughout most of world trade and ended near its late session low of $1244.00 with a loss of 1.33%. Silver slipped to as low as $15.64 and with a loss of 1.56%. Full Story
Focus of the markets is on US November nonfarm payrolls tomorrow. Next week is the Federal Reserve meeting, the European central bank meeting and the Bank of England meeting. The European central bank’s tapering view for the first quarter of next year can shake the markets. I do not expect the Federal Reserve to cause any furor. The new Federal Reserve chairman in February could be the bartender for global financial markets. Full Story
By: Chris Mullen, Gold Seeker Report - 6 December, 2017
Gold gained $2.30 to $1269.10 in Asia before it drifted back to $1262.70 in late morning New York trade, but it then bounced back higher in afternoon trade and ended with a loss of just 0.17%. Silver slipped to as low as $15.916 and ended with a loss of 0.87%. Full Story
– Value of Sterling and increased risks place pressure on pensioners both in UK and abroad – 500,000 British expats face ‘frozen’ pensions – 61% of UK Direct Benefit pension schemes have more money going out than coming in – OECD report finds ‘UK workers face the biggest retirement cliff edge in developed world’ – Combined pension deficit of FTSE 350 companies is at 70% of their profits – One in three wealth managers are holding cash for clients in anticipation of a market crash Full Story
By: Chris Mullen, Gold Seeker Report - 5 December, 2017
Gold held near unchanged in Asia and London, but it then fell back off in early New York trade and ended not far from its late morning low of $1261.10 with a loss of 0.74%. Silver slipped to as low as $16.029 and with a loss of 1.35%. Full Story
– Italy opposes ECB proposal that holds banks to firm deadlines for writing down bad loans – Italy’s banks weighed down under €318bn of bad loans – New ECB rules could ‘derail’ any recovery in Italy’s financial system – Draft proposal requires banks to provision fully for loans that turn sour from 2018 – ECB insists banks have better access to collateral on delinquent debt to solve problem – Investors should secure assets as proposal suggests more bailins on horizon and banks remain at risk Full Story
The market sharking event could be when President Donald Trump’s eldest son and a former business associate of the president testifies to the U.S. House of Representatives Intelligence Committee. A lot of events are there for the rest of the week. One needs to trade very carefully. There are concerns that the Chinese infrastructure sector will see a big slowdown next year. This news will prevent industrial metals from a big rise. There can be a short term correction in industrial metals and then a rise. Full Story
By: Chris Mullen, Gold Seeker Report - 4 December, 2017
Gold fell $8.90 to $1271.80 in Asia before it chopped back higher in London and New York, but it still ended with a loss of 0.34%. Silver slipped to as low as $16.245 and ended with a loss of 0.67%. Full Story
It is good to know the truth, for its own sake, even if there is no immediate or obvious practical benefit. The world works a certain way and, speaking for ourselves, we want to know what that way is. As they say, knowledge is power. This is doubly so with gold, where there is so much misinformation, disinformation, and rubbish economics. Some of it is mainstream, such as quantity theory of money. Some of it is unique to the gold market, such as allegations of manipulation. Full Story
– Increased efforts in green energy and advanced technology set to boosts silver’s demand – Four-year supply deficit set to increase due to fewer mine openings and discoveries – Bank manipulation may be why silver under performing – TD Securities and the Bank of Montreal expect silver to be best performing precious metal in 2018 – Growing industrial demand combined with monetary safe haven makes silver an excellent diversifier Full Story
The US political scene will add spice to a very heavy economic data week. Gold and silver bulls were saved on Flynn’s Russian connection issues. I see every reason to invest in gold and silver for next year at current prices. I can write endless pages to justify my view to invest in gold and silver for next year. But gold and silver are only for the low risk investor. The world need not go to Las Vegas. It is on our mobile screen. Bitcoin and crypto currencies are the latest Las Vegas. Crypto currencies are a gamblers paradise except that there is no limit to winning. Full Story
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