By: Chris Mullen, Gold-Seeker.com - 5 December, 2014
Gold edged up to $1207.47 at about 8:15AM EST before it dropped to $1187.20 just after this morning’s jobs report was released and then bounced back higher at times, but it still ended with a loss of 1.24%. Silver slipped to as low as $16.22 and ended with a loss of 1.03%. Full Story
The European Central Bank will decide early next year whether to follow the Federal Reserve, Bank of England and the Bank of Japan with quantitative easing or money creation to buy government bonds and other assets but will not buy gold, its president Mario Draghi said yesterday. Full Story
By: Chris Mullen, Gold-Seeker.com - 4 December, 2014
Gold dropped $8.61 to $1201.89 in London before it ran up to $1213.28 at about 9AM EST and then chopped back lower in New York, but it ended with a loss of just 0.35%. Silver slipped to $16.378 before it bumped up to $16.647 and then also fell back off, but it still ended with a gain of 0.24%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 December, 2014
New York closed at $1,210.50 up $12.20 before Asia dropped the price to $1,206. In London’s the gold Fixing was set at $1,204.00 $0.75 and in the euro at €977.590 up €2.351 while the euro was weaker at $1.2316. There was one seller at the Fix selling 26,000 ounces and two buyers buying 20,000 ounces. Ahead of New York’s opening gold was trading in London at $1,203.10 and in the euro at €976.50. Full Story
Despite the worst sentiment towards gold we have seen since the brief 30% price fall in 2008, gold continues to eke out gains in all major currencies. So far in 2014, gold is 14.3%, 12.3%, 5.8% and 0.4% higher in japanese yen, euros, sterling and dollars respectively (see chart). Full Story
Technically the right base has been formed for gold and silver to rise. Fears of a fall are there as the US dollar continues to gain against the euro and yen. Gold and silver need to rise tomorrow to convert themselves into a short term bullish zone and invite short covering. Full Story
By: Chris Mullen, Gold-Seeker.com - 3 December, 2014
Gold climbed $10.01 to $1208.31 in late Asian trade before it fell back to nearly unchanged at about 7AM EST, but it then rose to a new session high of $1213.83 in New York and ended with a gain of 1.02%. Silver edged up to $16.569 at one point, but it then chopped back lower at times and ended with a loss of 0.18%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 December, 2014
New York closed at $1,198.30 down $14.30 before Asia took the gold price up to $1,206. In London’s the gold Fixing was set at $1,203.25 up $6.25 and in the euro at €975.239 up €12.556 while the euro was a cent weaker at $1.2338. There were two sellers at the Fix selling 22,000 ounces and two buyers buying 26,000 ounces. Ahead of New York’s opening gold was trading in London at $1,204.00 and in the euro at €976.72. Full Story
The ongoing slump in oil prices looks set to take their toll on London’s “super prime” property markets with attendant consequences for the rest of the London property market. Foreign money that had been flooding into the UK from a whole array of international sources and parking in London real estate is drying up. Full Story
By: Chris Mullen, Gold-Seeker.com - 2 December, 2014
Gold dropped $20 to $1192.60 in late Asian trade before it bounced back higher in London and New York, but it still ended with a loss of 1.18%. Silver slipped to as low as $16.084 and ended with a loss of 0.12%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 December, 2014
New York closed at $1.212.60 and Asia took the gold price down slightly to $1,208. The recovery from $1,151 to $1,218 at its daily peak was $67. In London’s the gold Fixing was set at $1,197.00 up $18.25 and in the euro at €962.683 up €17.225 while the euro stood at $1.2434. There were two sellers at the Fix selling 30,000 ounces and one buyer buying 36,000 ounces. As we wrote this gold was trading in London at $1,198.30 and in the euro at €962.84. Full Story
Total U.S. national debt hit a new record high overnight at over $18 trillion as the Obama administration continues to pile debt onto the back of the U.S. taxpayer at a rate that would have made George W. Bush look positively prudent. Full Story
The rise in gold and silver was due to massive short covering which if it continues till Friday can result in the resumption of a short term bullish phase. There are lots of US economic data releases from tomorrow till Friday. If there is any indication of a delay in US interest rate hikes beyond June of next year, gold can easily rise to $1275/1324 in the short term. Silver can easily rise to $1860/$2040 in the near term. At current price, gold and silver traders need to be cautious. Full Story
By: Chris Mullen, Gold-Seeker.com - 1 December, 2014
Gold dropped $24.17 to $1142.83 at the open of trade last night, but it then climbed back higher throughout most of the rest of trade and ended near its early afternoon high of $1220.22 with a gain of 3.91%. Silver slipped to as low as $14.436 at one point, but it then rose to as high as $16.75 and ended with a gain of 6.67%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 December, 2014
New York and Asia took the gold price down to $1,151 before Asia and London took it way back above New York’s close of $1,167 to $1,183, ahead of London’s Fixing. Gold was then Fixed at $1,178.75 down $5.75 and in the euro at €945.458, down €3.737 while the euro stood at $1.2468. There were two sellers at the Fix selling 40,000 ounces and two buyers buying 54,000 ounces. As we wrote this gold was trading in London at $1,174.10 and in the euro at €942.27. Full Story
Switzerland’s ‘Save our Swiss Gold’ referendum was convincingly rejected yesterday by the Swiss electorate following an aggressive anti-gold campaign in recent weeks that had been closely watched both in Switzerland and abroad. Unusually, it involved the Swiss National Bank (SNB) very actively, and ultimately successfully, trying to convince the electorate along with the main political parties to return a ‘no’ vote. Full Story
The rejection of the Swiss referendum resulted in gold and silver crashing like a pack of cards. These are just early reactions to the same. The European session and the US session will be the key. Gold needs to trade over $1127 and silver needs to trade over $1465 to prevent further crashing. The slowdown in Chinese manufacturing growth will result in base metal prices also falling. Crude oil can fall to $56.60 in the short term as long as it trades below $67.60. Full Story
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