Gold fell to as low as $1208.10 in the aftermath of this morning’s jobs data before it rallied back higher in the last hour of trade, but it still ended with a loss of 2.49%. Silver slumped to as low as $18.69 and ended with a loss of 4.75%. Full Story
The DOLLAR PRICE of gold dropped $20 per ounce lunchtime Friday in London, briefly dropping through $1220 per ounce after the release of June's US non-farm payrolls data. Non-farm payrolls growth came in at 195,000 against consensus forecasts of 165,000. The US jobless rate stayed at 7.6% however, rather than slipping as forecast. But average hourly earnings rose 2.2% annually against the 2.0% analysts predicted. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 July, 2013
New York was closed yesterday after a quiet day in London. Asian demand added nothing to the price. Then London came in to pull the price down to Fix it at $1,232.75 down $16.75 on yesterday’s Fix and in the euro at €957.401 down €3.7, reflecting the weakness of the euro. Ahead of New York’s opening gold was trading at $1,234.40 and in the euro at €958.53. Full Story
Gold is lower today in all currencies. It is now flat on the week in dollar terms but has eked out gains in pound and euro terms after the BOE and ECB elected to keep interest rates at 0.5%. Unprecedentedly low interest rates continue in the western world which is gold supportive. Full Story
Gold and silver are in a neutral zone. Low risk traders please close all intraday positions by 5:30 pm IST and take a fresh positions after 6:15 pm IST. There are still huge short positions and a below expected number can result in massive short covering. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 July, 2013
New York closed at $1,252.90up $10.70 on yesterday. Asian demand added nothing to the price. It was Fixed in London at $1,249.50 up $3.50 on yesterday’s Fix and in the euro at €961.154 down €1. New York is closed today as, amazingly, the U.S. continues to celebrate its freedom from the United Kingdom. Full Story
GOLD PRICES held steady in Dollars on Thursday in London, trading around $1250 per ounce as US markets were closed for Independence Day. European stock markets rose sharply however, and the gold price for both UK and Euro investors rose over 1.0%, as the European Central Bank and Bank of England kept their interest rates at record-low levels. Full Story
Gold was tentatively higher overnight on worries about the revolution in Egypt which ended with President Mursi ousted. They crept lower prior to the BOE and ECB rate decisions but gold rose in sterling terms after the BOE decision to keep rates at 0.5%. Full Story
Gold fell $5.50 to $1236.70 at about 3:30AM EST, but it then rose to as high as $1259.40 in New York and ended with a gain of 0.86%. Silver surged to as high as $19.905 and ended with a gain of 2.38%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 July, 2013
New York closed at $1,242.20 down $10.50 on yesterday. Asian demand came in and lifted it by $4 and in London it was Fixed in London at $1,246.00 down $14.75 on yesterday’s Fix and in the euro at €962.162, while the dollar against the euro was stronger at €1: $1.2950. Ahead of New York’s opening gold stood at $1,246.15 and in the euro at €961.68. Full Story
GOLD ROSE more than 1.4% from an overnight low at $1242 per ounce in London on Wednesday morning as world stock markets sank and the US Dollar rose. Commodity prices ticked higher with major government bonds. Silver rallied 2.8% to rise again above last week's finish at $19.69 before dropping with gold. Full Story
Gold inched higher in most currencies and gained over 0.5% in euros as the Eurozone debt crisis reared its ugly head again and oil spiked over $102 a barrel. Stocks fell around the world, led by Portugal as the nation’s 10-year bond yield surpassed 8% for the first time since November after two ministers quit the government. Full Story
I was not a gold bull when I started insignia consultants in 2003. I remember having sold gold at $392 in 2004 only for stop losses to get triggered at $430. After this trade I became a gold bull. Gold has seen a major parabolic rise from 2009. People started thinking that gold prices were invincible and they just invested in gold at every price. The herd mentality and lure of easy money has brought gold down. Full Story
Gold climbed $14.48 to $1267.18 by a little after 3AM EST, but it then fell back off for most of the rest of trade and ended near its late session low of $1239.29 with a loss of 0.84%. Silver slipped to as low as $19.238 and ended with a loss of 1.33%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 July, 2013
New York closed at $1,252.70 up $20.50 on yesterday. Asian demand came in and continued to lift gold to $1,264.4. It was Fixed in London at $1,260.75 and in the euro at €967.946 up €15, while the dollar against the euro was at €1: $1.3025. Ahead of New York’s opening gold stood at $1,255.40 and in the euro at €965.77. Full Story
The PRICE of GOLD rose in Asia and jumped at the start of London trade Tuesday, hitting $1267 per ounce to recover 40% of last month's crash before easing back. Prices for silver bullion also rose, but lagged gold's rate of gain, before slipping back below last week's finish at $19.69 per ounce. Full Story
Gold ETF outflows continue and are at a four year low, with SPDR Gold Trust saying its holdings dropped to 968 tonnes, a figure not seen since 2009. However physical demand remains robust as seen in China, in the U.S. Mint figures and the increasing demand for international bullion storage, outside the banking system. Full Story
Gold rose about 1% in Asia before it fell back to $1233.80 in London, but it then climbed to as high as $1261.20 in New York and ended with a gain of 1.66%. Silver jumped to $20.09 in Asia before it dropped back to $19.408 in London and then bounced back higher in New York, but it still ended with a loss of 0.1%. Full Story
The gold market rebounded today in the wake of a significant slide last week of roughly $120 an ounce! Some of the recovery action today might be the result of a technically oversold status from the June high to low slide of $244 an ounce. On the other hand, the press overnight noted a slight increase in bargain hunting buying in Asia and some of that buying might be the result of some traders looking ahead to the beginning of labor talks in South Africa on July 11th. It is also possible that somewhat weak Chinese economic data and a lack of improvement in Euro zone PMI results, sparked a minor wave of renewed safe haven interest in gold. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 July, 2013
New York closed at $1,232.20 up from the low of $1,181 during the day, on Friday. Asian demand came in and continued to lift gold to $1,238 and it kept on rising to $1,243 where it was Fixed in London and where it was Fixed in the euro at €952.80, up €30, while the dollar against the euro was at €1: $1.3046. Ahead of New York’s opening gold stood at $1,238.64 and in the euro at €949.81. Full Story
The PRICE of gold rose hard in Asian trade Monday morning, extending Friday's strong rally, but slipped back in London to start the third quarter of 2013 with an AM Fix of $1243.50 per ounce. That was 26% below New Year for US Dollar investors, 21% down in Sterling, and 25% lower in Euros. Full Story
With the end of the second quarter it is important to take stock and review how various assets have performed in the first half of 2013 and assess the outlook for the rest of 2013 and, more importantly, the coming years. Full Story
I do not expect a repeat of last quarter in gold and silver this quarter. The markets have already discounted a Federal Reserve tapering from September onwards. Any below expected fall can result in short covering in gold and silver which is huge. Traders and investors still expect gold prices fall to $1000 this quarter. All I can say is that the faster the fall the chances of a very quick recovery are highest. Full Story
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