By: Chris Mullen, Gold-Seeker.com - 9 January, 2015
Gold climbed to as high as $1221.37 by early afternoon in New York and ended with a gain of 1.09%. Silver rose to as high as $16.565 and ended with a gain of 0.92%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 January, 2015
New York closed at $1,207.30 down $5.00 as the euro stabilized. In Asia the gold price rose to $1,212 with the euro at $1.1814 ahead of London’s opening. The Fix saw the gold price set at $1,211.25 up $4.75 and in the euro, at €1,025.093 64 up €0.029 while the euro was stronger by 0.46 of a cent than yesterday at $1.1816. Ahead of New York’s opening gold was trading in London at $1,211.50 and in the euro at €1,025.35. Full Story
2015 is upon us and the turbulence has already begun. 2014 was another year of an uneasy calm interrupted by sudden bouts of abrupt market volatility. We were surprised how risk appetite remained so high despite emerging and a high level of risk especially from the geopolitical sphere. These we covered in our Review of 2014. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 January, 2015
Gold dropped $7.11 to $1205.19 at about 6:30AM EST before it bounced back to $1216.29 in the next three and a half hours of trade, but it then fell back off in afternoon trade and ended with a loss of 0.41%. Silver slipped to as low as $16.307 and ended with a loss of 1.39%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 January, 2015
New York closed at $1,212.30 down $6.60 as the euro continued to fall. In Asia the gold price slipped to $1,207.90 with the euro at $1.1807 ahead of London’s opening. The Fix saw the gold price set at $1,206.50 down $7.25 and in the euro, at €1,025.064 up €1.234 while the euro was another 0.85 of a cent weaker than yesterday at $1.1770. Ahead of New York’s opening gold was trading in London at $1,206.60 and in the euro at €1,024.80. Full Story
Further weakness in the euro today has lifted gold priced in the single currency by 0.2 percent to over 1,025 euros an ounce. Gold in euros is has risen risen 4.4% this year after the 11% gain in 2014 as gold seeks to price in the twin risks of Grexit and or Draghi’s money printing ‘bazooka’. Euro-denominated gold has consolidated after breaking above EUR 1,000/oz for the first time since last March on Monday, to reach a 15-1/2 month high at EUR 1,029.81/oz yesterday. Full Story
Day traders and jobbers are having a difficult time. There is two way movement. When you buy prices fall. When you sell prices rise. The best way to trade is to use higher trailing stop losses below key technical supports or resistances. Reduce the number of lots. Low risk traders avoid momentum trading. Gold and silver have risen this week. But the rise has not been one way. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 January, 2015
Gold dropped $9.77 to $1209.13 by a little after 8AM EST, but it then bounced back higher after the release of today’s fed minutes and ended with a loss of just 0.54%. Silver rose to as high as $16.645 and ended with a gain of 0.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 January, 2015
New York closed at $1,218.90 up $13.40 as the euro continued to fall. Gold retreated to $1,214.10 with the euro at $1.1866 ahead of London’s opening. The Fix saw the gold price set at $1,213.75 up $2.75 and in the euro, at €1,023.83 up €6.525 while the euro was another half of a cent weaker than yesterday at $1.1855. Ahead of New York’s opening gold was trading in London at $1,213.40 and in the euro at €1,024.61. Full Story
Bitstamp, Europe’s leading bitcoin exchange – and third largest globally – has been off-line following a breach in their system by hackers on Sunday night. The UK based company has suspended lodgements and withdrawals and reported that roughly $5.1 million, around 19,000 BTC, had been ‘lost.’ The revelation follows the disclosure that Bitstamp’s wallet system has been compromised, prompting it to halt deposits and later shut down its platform entirely according to Coin Desk. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 January, 2015
Gold gained $8.73 to $1214.23 in Asia before it fell back towards unchanged in London, but it then shot up to a new session high of $1222.38 in New York and ended with a gain of 1.11%. Silver surged to as high as $16.687 and ended with a gain of 2.04%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 January, 2015
New York closed at $1,205.50 up $18.00 as the gold price broke through key resistance in the dollar and in the euro. Gold continued to rise in Asia to $1,209.7 and in London to over $1,212 ahead of London’s Fix. The Fix saw the gold price set at $1,211 up $19.00 and in the euro, at €1,017.305 up €18.495 while the euro was another 0.3 of a cent weaker at $1.1904. Ahead of New York’s opening gold was trading in London at $1,211.80 and in the euro at €1,018.49. Full Story
With Greeks going to the polls to elect a new government in just over two weeks, concerns over a potential Greek exit or ‘Grexit’ from the euro is growing and this has led to the euro falling against the dollar and particularly gold. Speculation as to the consequences of a Syriza victory has caused the euro to fall to it’s lowest level against the dollar since 2010. Gold has surged to close to EUR 1,020 per ounce this morning – building upon the 11% gains seen in 2014. Full Story
The Greece safe haven trade has resulted in short covering in gold and silver. The situation in Europe is far from over. The French president has called for an end to Russian sanctions. These are all positive news for gold and silver. Short sellers of gold and silver are using dips to exit their positions. This is the best time for gold and silver. I keep my fingers crossed. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 January, 2015
Gold gained $10.24 to $1197.74 in Asia before it fell back to $1186.90 in London, but it then climbed to a new session high of $1207.45 in New York and ended with a gain of 1.52%. Silver surged to as high as $16.239 and ended with a gain of 2.6%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 January, 2015
New York closed at $1,187.50 up $4.90 as the world goes back to business as usual and volumes rise on Chinese demand. Gold rose in Asia to $1,196.00 ahead of London’s opening. The Fix saw the gold price set at $1,192 up $7.50 and in the euro, at €998.81 up €15.46 while the euro was another cent weaker at $1.1934. Ahead of New York’s opening gold was trading in London at $1,188.60 and in the euro at €998.53. Full Story
Many cities have seen speculative frenzies return in recent months which led to price surges which would appear to be unsustainable – especially given the uncertain and poor geopolitical and economic backdrop. This has been the case in the UK and Ireland, the U.S. and indeed in Canada, Australia, New Zealand and a few other markets. The question at the start of 2015, is whether we are likely to see continued price gains or falls. There are all the hallmarks of an echo bubble akin to the one that burst so painfully in the ‘noughties’. Full Story
This is a big week for commodities as well as currency markets. Trading volumes return to full. The New Year hangover is also over. Investors and traders now get serious. Everyone will be searching for the dark ugly horse for investment which can show surprises and come out as a winner. Silver, crude oil and Nickel could be in that league but in the second half of the year. Just remember that anything can happen. There will be very sharp movement in the week. But there should be a directional change in all commodities. Full Story
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