By: Chris Mullen, Gold-Seeker.com - 8 August, 2014
Gold climbed $11.05 to $1322.65 in Asia before it dropped back to $1307.52 in London, but it then bounced back higher in New York and ended with a loss of just 0.015%. Silver rose to as high as $20.161 before it slipped back to $19.865 at one point, but it then edged back higher in late trade and ended with a gain of 0.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 August, 2014
The gold price closed at $1,311.60 up $5.20 in New York. In Asia and early London, prices rose further to $1,319.00 as the euro held those levels as the euro held around $1.3383. The gold price was Fixed at $1,317.50 up $15.50 and in the euro at €984.017 up €10.486, while the euro was stronger at $1.3389. Ahead of New York’s opening, gold was trading at $1,317.20 and in the euro at €983.46 pointing to a stronger gold price in New York. Full Story
Gold is up nearly 2% this week on safe haven buying, its best weekly performance since mid-June. Gold hit three week highs overnight at $1,322.60/oz, having started to push higher in U.S. trading hours yesterday due to tensions with Russia and the renewed bombing of Iraq. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 August, 2014
Gold waffled between $1308.54 and $1302.38 in Asia and London before it popped up to $1313.42 in early afternoon New York trade and then pared back in the next couple of hours of trade, but it then rose to a new session high of $1314.17 in the last hour of the day and ended with a gain of 0.4%. Silver edged up to $20.108 before it dropped back to $19.889 and then bounced back higher, but it still ended with a loss of 0.4%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 August, 2014
The gold price closed at $1,306.40 up $18.30 in New York. In Asia and early London, prices held those levels as the euro held around $1.3377. The gold price was Fixed at $1,302.00 up $13.50 and in the euro at €973.531 up €9.265, while the euro was at $1.3374 reflecting a slightly stronger euro. Ahead of New York’s opening, gold was trading at $1,307.50 and in the euro at €977.20 pointing to a stronger gold price in New York. Full Story
Gold is marginally lower in London this morning. Trade picked up yesterday but still remains lackluster and futures trading volume was 18% below the average for the past 100 days this morning, Bloomberg data shows. Overnight, gold bullion in Singapore consolidated on yesterday’s gains and remained in a tight range between 1,305/oz and 1,310/oz. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 August, 2014
Gold saw slight gains in Asia and London before it jumped up to $1309.30 at about 10:30AM EST and then chopped back lower at times, but it still ended with a gain of 1.42%. Silver surged to as high as $20.076 and ended with a gain of 1.16%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 August, 2014
The gold price closed at $1,288.10 down $5.20 in New York. In Asia and early London, prices recovered to $1,292 as the euro fell back to $1.3370 from $1.3394. The gold price was Fixed at $1,288.50 down $4.25 and in the euro at €964.266 down €o.761, while the euro was weaker at $1.3362. Ahead of New York’s opening, gold was trading at $1,289.40 and in the euro at €965.37. Full Story
Gold is marginally higher in London this morning but remains in a tight range between 1,287/oz and 1,292/oz. Trade remains lackluster and futures trading volume was 50% below the average for the past 100 days this morning, Bloomberg data shows. Overnight gold in Singapore was marginally higher consolidating on the spike in gold seen in late trading in New York. Full Story
The trading pattern in gold and silver reminds me of the 2002-2006 period. This implies that gold and silver should form a medium term bottom between August and the middle of September followed by a two week to three weeks period of consolidation and then a very huge rise. One should use August and September dips in gold and silver to invest for the long term. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 August, 2014
Gold climbed $4.88 to $1293.38 at about 4:20AM EST before it fell back to $1282.69 in the next six hours of trade and then shot back higher in early afternoon New York trade, but it still ended with a loss of 0.03%. Silver edged up to $20.269 before it dropped back to $19.802 by late morning in New York and then also bounced back higher, but it still ended with a loss of 1.88%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 August, 2014
The gold price closed at $1,293.30 the same as Friday in New York. In Asia and early London, prices slipped to $1,291 as the euro fell back to $1.3394 from $1.3424. The gold price was Fixed at $1,292.75 down $0.75 and in the euro at €965.027 up €1.454, while the euro was weaker at $1.3406. Ahead of New York’s opening, gold was trading at $1,292.50 and in the euro at €965.07. Full Story
Gold is marginally higher in London this morning and overnight in Singapore, gold remained in a tight range between $1,286/oz and $1,290/oz. Gold climbed toward $1,300 an ounce after a gauge of China’s services industries sank to a record low, leading to safe haven demand and a decline in equities. Full Story
Technically gold and silver are bearish and need to trade over $1276 and $20.10 to prevent further sell off. Gold and silver will recover at a level only when physical demand rises in Asia. Israel – Hamas peace talks if concluded will add to bearishness. There is not much news at the moment to prevent a big rise. Only soft US economic data releases can result in higher gold and silver prices. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 August, 2014
Gold edged up to $1295.38 in late Asian trade before it dropped down to as low as $1286.15 by early afternoon in New York and then bounced back higher at times, but it still ended with a loss of 0.37%. Silver slipped to as low as $20.152 and ended with a loss of 0.74%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 August, 2014
The gold price closed at $1,293.30 up $11.20 on Friday in New York. In Asia and early London, prices held at $1,293.80 as the euro rallied to $1.3424. The gold price was Fixed at $1,293.50 up $9.00 and in the euro at €963.573 up €4.418, while the euro was up at $1.3424. Ahead of New York’s opening, gold was trading at $1,291.90 and in the euro at €962.88. Full Story
Indian gold and silver demand will be on the higher side this week due to a number of festivals. Any signs of a stabilization in the US hiring market will be bullish for gold and silver. An Israel-Hamas peace deal (if any) will be closely watched, progress of ISIS in Iraq among others will affect bullion. There has to be indications of a sustained peace in the Middle East and the North Africa region to reduce the safe haven part in gold and silver. Libya also is in fire. Full Story
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