By: Chris Mullen, Gold Seeker Report - 8 September, 2017
Gold gained $9.10 to $1357.40 in Asia before it fell back to $1342.90 at about 11AM EST and then bounced back higher into the close, but it still ended with a loss of 0.14%. Silver slipped to as low as $17.898 and ended with a loss of 0.5%. Full Story
– Geo-political concerns including North Korea, falling USD push gold 2.1% in week – Gold prices reach $1,355 this morning following Mexico earthquake – Safe haven demand sees gold over one year high, highest since August 2016 – Silver touches $18.24 – highest level since April 2017 – Goldman, BoAML and Deutsche Bank all warn re markets this week Full Story
Energies will crash if hurricane Irma turns out to be a damn squib. The Korea situation and the European central bank and crypto currencies legal issues are ensuring that the bullish trend in gold and silver continue. Japanese GDP expanded less than expected and should prevent big gains for the Yen in the medium term. In the short term it will be a momentum play for the currency markets. Full Story
By: Chris Mullen, Gold Seeker Report - 7 September, 2017
Gold gained throughout most of world trade and ended just off its last-minute high of $1349.40 with a gain of 1.08%. Silver surged to as high as $18.124 and ended with a gain of 1.29%. Full Story
– Lloyd Blankfein, Goldman CEO “unnerved by market” (see video) – Bitcoin bubble is no outlier says Bank of America Merrill Lynch – Bubbles are everywhere including London property – $14 trillion of monetary stimulus has pushed investors to take more risks – We are now in a new era of bigger booms and bigger busts – BAML Full Story
The European central bank in its meeting will try and reduce the rise of the euro against the major currencies as it hurts exports. However the ECB is expected to confirm liquidity reduction measures in October. If there is no confirmation on liquidity reduction measures by the ECB, then the euro/usd will fall to 1.1642 and 1.1444 in the short term. There is some speculation that the so called Brexit may not actually happen. Full Story
By: Chris Mullen, Gold Seeker Report - 6 September, 2017
Gold chopped near unchanged in Asia and London before it fell back to $1332 in midafternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 0.53%. Silver slipped to as low as $17.809 and ended with a loss of 0.17%. Full Story
What’s increasing the demand for gold? Is it Kim Jon-Un’s calls for nuclear war? Trump’s tough tweets on government and trade and unleashing “fire and fury” on North Korea? The threat of World War III? Possibly not, according to Jeff Currie of Goldman Sachs. This is more to do with the market mechanics underlying such events. Full Story
By: Chris Mullen, Gold Seeker Report - 5 September, 2017
Gold gained $13.40 to as high as $1339.10 in holiday-thinned trade on Monday before it dropped back to $1326.60 in London today, but it then rallied back higher in New York and ended near its late session high of $1344.20 with a gain of 1.15% from last Friday’s close. Silver climbed to as high as $18.001 and ended with a gain of 1.07%. Full Story
– “Cryptocurrencies are beginning to get out of control” – warns respected investor Mark Mobius – Mobius believes governments will begin to clamp down on cryptocurrencies sparking rush to gold – Yesterday China’s PBOC ruled Initial Coin Offerings (ICOs) are illegal and all related activity to halt – China is home to majority of bitcoin miners Full Story
– Safe haven gold extends rally to 11-month high after North Korea nuke test and U.S. warns of ‘massive’ response – Asian and European stocks fall, bonds flat, gold, silver, palladium, Swiss franc rise as Korea tensions flare as North Korea tests ‘hydrogen bomb’ – North Korea prepares for possible ICBM launch says S. Korea Full Story
North Korea’s hydrogen bomb has given a hydrogen boost to gold and silver. Copper and industrial metals have had a technical breakout. The US dollar has remained immune to North Korea. The US Navy has increased patrols in South China Sea. East Asia is now the current middle east and north Africa of the world. Full Story
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