By: Chris Mullen, Gold-Seeker.com - 4 November, 2016
Gold fell $8.23 to $1294.67 in Asia before it rallied back to $1305.65 at about 9AM EST and then chopped back lower at times, but it still ended with a gain of 0.1%. Silver rose to as high as $18.465 and ended with a gain of 0.27%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 November, 2016
The gold price is sitting below heavy resistance, if this were treated as a normal Technical picture. But this overhead resistance is a position where few are likely to sell as stale bulls. With the prospect of prices moving higher current holders are back waiting where they were a short while ago when gold was last hear. After all, the gold price at over $1,320 was the ‘norm’ for a good part of the second half of the year and then driven by buyers who will hold for the long term, particularly because of issues that had nothing to do with the U.S. election. Full Story
For some the decision is a fate worse than death, as Reuters reported, ‘Young Americans are so dissatisfied with their choices in this presidential election that nearly one in four told an opinion poll they would rather have a giant meteor destroy the Earth than see Donald Trump or Hillary Clinton in the White House.’ There appears to be one winner amongst all this though, gold. Regardless of who will enter the White House in January, the gold price is set to perform well in both the short and long-term. Full Story
By: Chris Mullen, Gold-Seeker.com - 3 November, 2016
Gold saw notable gains in Asia before it fell to see a $10.75 loss at $1285.65 at about 8AM EST, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.5%. Silver slipped to as low as $18.023 before it also bounced back higher, but it still ended with a loss of 0.86%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 November, 2016
As you can see the rise of the gold price to $1,308 yesterday brought out sellers and has taken the gold price back to the same lower levels seen before New York opened then. This is an expected development as prices don’t rise continuously. The price hit overhead resistance at the psychological level of $1,308 and should consolidate around these levels as buyers and sellers trade in and out of these higher levels until the next move is made in either direction. Full Story
As markets go the London Gold Market has to be one of the oldest and most unchallenged markets there is. With its roots in the 17th century it has been through a series of makeovers but for much of the last century the OTC market has hardly changed. But now it is having an identity crisis. In the last year we have seen a barrage of news about changes that are coming, and the last few weeks seem to have been busier than ever. Full Story
The Fed meeting is over. December’s interest rate hike has already been priced in by the markets. Focus shifts to US elections and October nonfarm payrolls tomorrow. Technical is bullish for gold and silver. However for continuity of bullish trend gold and silver need to break and trade over $1309 and $1898. Short sellers are waiting for clues to short. Those who are long in gold and silver are nervous. I will prefer to use a trailing stop loss in gold and silver longs. For short sellers of gold and silver, I will prefer to reverse if key resistances are broken. Full Story
By: Chris Mullen, Gold-Seeker.com - 2 November, 2016
Gold gained $20.27 to as high as $1307.57 in early afternoon New York trade before it chopped back lower into the close, but it still ended with a gain of 0.71%. Silver surged to as high as $18.736 and ended with a gain of 0.93%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 November, 2016
What has changed in the last day? The dollar has gone weaker which is what Treasury has wanted all along. Why yesterday? The election race has changed with the institution of more investigations into Hilary Clinton’s e-mails, which brought the polls to a point where the Trump camp has caught up with the Clinton camp. This has set global financial markets on edge. A Trump win signifies a Republican government and an end to political gridlock. Full Story
I live in Dubai where Diwali has been the focus for many this weekend. With Diwali comes not just fantastic light displays and celebrations but also huge adverts for Hindus to buy gold for their loved ones in India and throughout the world. Buying gold at Diwali is a religious or spiritual act and it is considered auspicious and thought to bring good fortune and prosperity. Full Story
By: Chris Mullen, Gold-Seeker.com - 1 November, 2016
Gold held near unchanged in Asia, but it then climbed steadily higher in London and New York and ended near its late session high of $1291.84 with a gain of 0.73%. Silver rose to as high as $18.48 and ended with a gain of 2.52%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 November, 2016
Growth in international trade is slowing, as describe by shipping statistics. It is the first time since World War II that trade with other nations has declined during a period of economic growth. Sluggish global economic growth is both a cause and a result of the slowdown. It is a structural phenomenon that will be much longer term and deflationary. Full Story
Diwali holidays are over. Indians are going back to work. It’s trading time. Incidentally November will be the best time to trade and make a quick buck. The FOMC meeting, US monthly jobs numbers, US election result and its spillover effect on global financial market and global political scenario. There are lots of possible reasons for gold and silver bulls to cheer and also attract new investors. Uncertainty brings the best in gold. November is a month of uncertainty. Gold and silver should rise. Full Story
By: Chris Mullen, Gold-Seeker.com - 31 October, 2016
Gold gained $4.57 to $1279.47 in Asia before it fell back to $1271.30 in early afternoon New York trade, but it then jumped back higher into the close and ended with a gain of 0.24%. Silver climbed to $17.913 in Asia before it dropped back to $17.753 in early New York trade, but it then bounced back higher into the close and ended with a gain of 0.62%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 31 October, 2016
Once again, take a look at the last three days of Shanghai gold Fixings. Allow for the different qualities of gold being priced and you see Shanghai prices higher than New York and London. On Monday London opened in line with Shanghai then prices began to pull back through the morning. Allowing for Shanghai pricing of higher quality gold the prices were lower in London by $4 during the morning up to the LBMA price setting. Full Story
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