Gold dropped $10.68 to $1229.62 in London, but it then climbed back higher for most of trade in New York and ended with a loss of just 0.06%. Silver rose to as high as $15.38 and ended with a gain of 0.85%. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 8 April, 2016
Yesterday was a quiet day for the gold, silver and currency markets after alarming, stronger moves in the Yen and while Janet Yellen’s comments were being digested. Today sees the same process going on, but the tightening of the trading range of both gold and silver tells us a strong move is imminent. Full Story
Rickards does not mention silver. However, given silver bullion has similar qualities to gold bullion, a strong case can be made those who buy silver coins and bars, either in their possession or in allocated and segregated secure storage will also be protected from the increasing “digital wealth” risks of today. Full Story
By: Chintan Karnani, Insignia Consultants - 8 April, 2016
The longer gold trades over $1200, the more it will attract investment demand. To me it seems that foundations of a 2004 style of big bull run is being laid for gold. I am closely watching gold and the Japanese Yen for the next three weeks for a 2004 style of rise (gold prices zoomed from $380 to $735 in less than six months in 2004-2005 and thereafter have not looked back.). Over the back more than a decade, gains in gold have always been backed by gains of Japanese yen against the US dollar. Full Story
Gold gained $19.87 to $1243.17 by midmorning in New York before it drifted back lower into midday, but it still ended with a gain of 1.39%. Silver rose to as high as $15.357 and ended with a gain of 0.93%. Full Story
Without actually analyzing the PM complex in isolation, the inter market relationship with the different sectors we looked at on the charts above paint a picture of a reversal of the bear market that has been in place for 4 1/2 years. As long as the relationships keep playing out as they have since the beginning of this year I have to remain a bull until proven otherwise. It won’t be easy but with a game plan in place to follow it makes taking a position and holding on to it during the inevitable pull backs less challenging. Full Story
Our primary concern has long been that the market becomes transparent and the fundamentals of physical supply and demand ultimately determine the price. At present, London Bullion Market Association or LBMA trading involves the buying and selling of unallocated gold contracts largely amongst bullion banks and other LBMA members. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 7 April, 2016
The Fed in its minutes of the last FOMC meeting confirmed its concern over the global economy and the strong dollar. This weakened the dollar against world currencies and to us confirmed the dollar faces a future of either sideways movements or of falling lower against other leading currencies. We cannot emphasize enough the importance of a weak dollar on global financial markets and the monetary system itself in future market action globally. Full Story
Gold dropped $12.74 to $1217.46 in early New York trade before it bounced back higher at times, but it still ended with a loss of 0.56%. Silver slipped to as low as $14.921 and ended with a loss of 0.4%. Full Story
Summing up, there are signs that the precious metals market is going to move lower in the coming weeks. The ones discussed above, plus those that we commented on in the previous days and weeks, make it very likely that the next big move in the precious metals sector will be to the downside. In other words, we expect that the best buying opportunity for long-term investments in the precious metals is still ahead. Moreover, it appears very likely that the profits on the current short trade will become much bigger before this trade is over. We’ll continue to monitor the situation and report daily in our alerts. Full Story
The Perth Mint’s sales of silver coins and especially Silver Kangaroos surged again in March and saw the second highest levels of silver coin demand on record as silver buyers in the western world continue to accumulate silver at what they believe to be depressed silver prices. Full Story
By: Chintan Karnani, Insignia Consultants - 6 April, 2016
I do not expect the bank of Japan to intervene to prevent sharp gains of the yen. Gold would have crashed but for gains in the Yen. A stronger Yen always increases gold investment demand from Japanese hedge funds. Gold managing to trade over $1200 is a positive sign. The next three days are very crucial for gold and silver. Full Story
Gold gained $21.72 to $1236.62 by a little after 8:30AM EST before it chopped back lower at times, but it still ended with a gain of 1.26%. Silver climbed to as high as $15.209 and ended with a gain of 1.41%. Full Story
It also, indirectly shows that gold is likely to perform in a similar manner to how it moved from about $100 to $850 in the late 70s. Furthermore, the analysis suggests that we are now at a point similar to January/February 1977. If this pattern plays out like it did in the late 70s, and gold has a similar rally, then we will see a gold price in excess of $8000. Full Story
ICBC Standard Bank, China and the world’s largest bank, has been reclassified as a spot Market Making Member of the London Bullion Market Association (LBMA) with effect from today according to a note posted on the LBMA website last night at 2100 GMT. Full Story
Gold dropped $8.17 to $1215.23 in London before it rallied back to almost unchanged in early New York trade, but it then chopped back lower into the close and ended with a loss of 0.69%. Silver slipped to as low as $14.919 and ended with a loss of 1%. Full Story
Silver bullion’s reluctant, sluggish participation in early 2016’s powerful gold rally has been glaringly obvious. Instead of amplifying the yellow metal’s big gains as in the past, silver largely failed to even keep pace. The lack of silver confirmation for gold’s big move has certainly raised concerns. But despite silver’s vexing torpidity in recent months, it is a coiled spring ready to explode higher to catch and surpass gold. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 4 April, 2016
Dollar weakness to continue: We have highlighted the Fed’s dislike of a stronger dollar, confirmed by Mrs. Yellen’s speech. But to this we add the steady excretion of dollars from China as it diversifies out of the dollar into a broader currency based portfolio. In our newsletters we have highlighted the coming multi-currency monetary system replacing dollar hegemony for several years now. This is underway now.
It does mean that the dollar has seen its peak against other currencies. Full Story
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