By: Chris Mullen, Gold Seeker Report - 8 June, 2018
Gold dipped to $1294.20 in Asia before it bounced back to $1300.50 in London and then drifted in New York, but it still ended with a gain of 0.12%. Silver chopped between $16.622 and $16.822 and ended with a gain of 0.42%. Full Story
Economics and geopolitics will be clashing with each other next week. The soccer world is also there next week. Some of the funds from equities and commodities will move to soccer world cup betting. The Euro will sink next week if the European central bank denies monetary shrinking for next year. Gold needs big Asian demand and/or a significant increase in geopolitical risk to try for $1400. The next two weeks are sink or rocket zoom time for gold. I will prefer to be cautious in copper, silver and industrial metals till next week. Full Story
By: Chris Mullen, Gold Seeker Report - 7 June, 2018
Gold gained $6 to $1303.10 at about 8:30AM EST before it fell back to $1294.90 by midmorning, but it then bounced back higher into the close and ended with a loss of just 0.015%. Silver rose to as high as $16.894 and ended with a gain of 0.06%. Full Story
By: Chris Mullen, Gold Seeker Report - 6 June, 2018
Gold chopped between $1299.40 and $1294.20 in Asia and London before it climbed to a new session high of $1301.60 by a little after 10AM EST and then drifted back lower into the close, but it still ended with a gain of 0.05%. Silver rose to as high as $16.73 and ended with a gain of 1.15%. Full Story
Turkey’s economy has been in a tailspin with an inflationary currency, but the country is using something rare to help stabilise itself: gold. In late 2011, Turkey started to allow commercial banks to use gold instead of the Turkish lira for their required deposits at the central bank. These deposits are known as reserve requirements and help ensure that the banks are capitalised. Full Story
By: Chris Mullen, Gold Seeker Report - 5 June, 2018
Gold gained $8.70 to as high as $1300.50 in early afternoon New York trade before it drifted back lower into the close, but it still ended with a gain of 0.36%. Silver rose to as high as $16.53 and ended with a gain of 0.55%. Full Story
While gold has traditionally been seen as a tactical way to help preserve wealth during market corrections, times of geopolitical stress or persistent dollar weakness, we think there is a case to be made for gold as a core diversifying asset with a long-term strategic role in multi-asset portfolios. Full Story
The US dollar is firm ahead of the FOMC meet next week. The European political crisis is partly to blame for the US dollar’s gain. Big moves in gold and silver or energy space will be there from Thursday as short term traders prepare for FOMC. Over the past five years, I have seen gold demand in India rising sharply around the end of “Ramzan Eid”. The same is applicable to other nations where the Muslim population is huge. I have also seen demand for consumer durables like vehicles zooming towards the end of “Ramzan Eid”. Full Story
By: Chris Mullen, Gold Seeker Report - 4 June, 2018
Gold dipped $2.70 to $1290.40 in Asia before it rallied up to $1297.70 in London, but it then drifted back lower in New York and ended with a loss of 0.1%. Silver chopped between $16.37 and $16.542 and ended with a gain of 0.06%. Full Story
Trade wars will prevent gold from a big crash. The European commission has said that it will lodge a complaint against China (in WTO) for patent infringement along with complaints against the US over tariffs. There is also some speculation that the USA will coerce China to prevent it from using the yuan on petro dollar billings. All in all, other than economic factors the rest of the other factors are conducive for a gold rise. Since gold fundamentals are still negative one, there will be corrections as and when focus is on economic factors. Full Story
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