By: Chris Mullen, Gold-Seeker.com - 9 October, 2015
Gold climbed almost $20 to $1159.70 by early afternoon in New York before it edged back lower at times, but it still ended with a gain of 1.53%. Silver surged to as high as $16.016 and ended with a gain of 0.89%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 October, 2015
New York closed with the gold price at $$1,139.90 down from $1,145.60. In Asia yesterday in time gold rose to $1,150 ahead of London’s opening. The gold price was set at $1,151.50 up from $1,143.30 at the LBMA gold setting. The dollar Index was down at 94.82 down from 95.15 and the dollar was trading against the euro at $1.1362 down from $1.1305. In the euro the fixing was €1,013.47 up from €1,011.32. Ahead of New York’s opening gold was trading at $1,154.00 and in the euro at €1,015.62. Full Story
- IMF warn of “fresh financial crisis” - German exports fall 5.2%, largest slump since recession of 2009 - German imports also fall 3.1% - Many sectors across German economy see unexpected declines in factory orders and industrial production - UK Chief Financial Officers (CFOs) report sharp rise in uncertainty - UK PMI has fallen to lowest level since April 2013 - Hope for the best but be prepared for less benign scenarios Full Story
FOMC minutes had nothing surprising. An interest rate hike is still not completely ruled out this year. This is preventing gold and silver from zooming. Next week, Indian retail demand will rise. Jewelers have already stocked themselves. It will be all up to the Indian retail demand as jewelers will buy depending on the sales. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 October, 2015
Gold fell $8.21 to $1137.39 at about 8:30AM EST before it jumped up to $1151.27 after the release of today’s fed minutes, but it then fell back off into the close and ended with a loss of 0.5%. Silver slipped to as low as $15.402 before it also climbed back higher at times, but it still ended with a loss of 2%. Full Story
The German Bundesbank released an inventory of its gold reserves yesterday in order to quell ongoing public concerns about the true amount of actual unencumbered reserves and the location of the reserves stored in vaults in Frankfurt, London, Paris and particularly in the New York Federal Reserve. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 8 October, 2015
Further to our comment on the Yuan steadily moving into a strong position in international trade, yesterday, China has announced it has opened a payments clearing system for the Yuan. Why is this important? Because we are seeing an acceleration of the pace of the internationalization of the Yuan. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 October, 2015
Gold edged up to $1153.48 by a little after 8AM EST before it fell back to $1141.92 in the next couple of hours of trade, but it then bounced back higher for most of the rest of the day and ended with a loss of just 0.1%. Silver rose to as high as $16.117 and ended with a gain of 1.39%. Full Story
The future direction of the planet is a choice between independent money and the central bankers counter-party paper Ponzi. Gold is independent monetary wealth with incredible wealth value that cannot go broke and over time will progress in value. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 7 October, 2015
A piece of news that goes straight to the heart of the dollar’s hegemonic position in the global monetary system was released yesterday. China’s Yuan overtook Japan’s yen to become the fourth most-used currency for global payments in August. The Yuan was second for global issuance of letters of credit by value with a 9.1% share, compared with 80.1% for the U.S. dollar. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 October, 2015
Gold gained $15.43 to $1151.13 by late morning in New York before it drifted back lower into the close, but it still ended with a gain of 0.98%. Silver surged to as high as $16.089 and ended with a gain of 1.15%. Full Story
“Gold prices may be ready to make a significant move higher as holdings of the precious metal in the SPDR Gold Trust exchange-traded fund climb to their highest level in more than two months.” Full Story
By: Julian D. W. Phillips, Gold Forecaster - 6 October, 2015
There continues to be upward pressure on the gold and silver prices, despite Shanghai being closed. It is impossible not to draw the conclusion that the physical gold market is separate from the New York COMEX market and London prices. This is because gold and silver prices are made in New York, primarily by dealers and traders reflecting sentiment on COMEX. The perception there reflects expectations for rise in interest rates as well as for the dollar. Full Story
By: Chris Mullen, Gold-Seeker.com - 5 October, 2015
Gold dropped $7.04 to $1130.26 in London before it bounced back to $1141.87 in New York and then fell back off into the close, but it ended with a loss of just 0.14%. Silver surged to as high as $15.726 and ended with a gain of 2.49%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 October, 2015
New York closed with the gold price at $$1,137.30 up from $1,114.30 on Friday in New York. China remains closed until Thursday in its ‘Golden Week’ holiday. When London opened the gold price slipped to $1,135.00 after which it was set at $1,134.35 up from Friday’s $1,106.30 at the LBMA gold setting. The dollar Index was down at 95.58 from 96.30 and the dollar trading against the euro at $1.1268 down from $1.1165. In the euro the fixing was €1,006.70 up from €990.86. Ahead of New York’s opening gold was trading at $1,133.00 and in the euro at €1,107.60. Full Story
– BIS warns “unrealistic and dangerous to expect that monetary policy can cure all the global economy’s ills” – Bank of International Settlements warns that recent turmoil is not caused by isolated incidents – Debt levels are now so extreme they threaten the financial system – Ultra low rates have led to mal-investment and bigger boom/bust cycles – Emerging markets vulnerable to deeper crises – ECB easy money may juice markets for a while but reckoning is coming Full Story
The US dollar has not significantly weakened after the release of US September nonfarm payrolls. The US economy is still one of the better growing nations in the world. Cautious investors will wait and see if gold and silver are able to hold on to current prices. If they are able to trade over $1130 and $1500 this week, then cautious investors will start making small amounts of investment. Full Story
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