By: Adam Hamilton, CPA, Zeal Research - 9 June, 2017
The most-visible near-term breakout catalyst is next week’s FOMC meeting. Gold and gold stocks have rallied sharply after each of the past three Fed rate hikes. So if gold-futures speculators see anything the Fed releases as less hawkish than expected next week, they will pile back into gold which will once again catapult gold stocks higher. And given all the weak economic data lately, it’s hard to imagine a hawkish Fed. Full Story
The bottom line, however, is that we should expect a higher low than early May based on the Time that Gold and the Miners have spent moving higher in this current shorter term Trading Cycle. A great buying opportunity is dead ahead, so stay tuned. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 9 June, 2017
In the Middle east tensions there continue to rise as actions are taken against Qatar. It is clear that this is not simply political issues between the Persian Gulf nations but between the two sides of Islam. These cannot be solved by simple diplomacy. We can’t see a solution to these or to terror itself. At best, the police in different countries may be able to contain it, but with wars smashing on in different parts of the Middle East over the religious issues, we cannot see an end of them at all. Full Story
Gold got sacked in the early going Thursday by the usual mysterious, evil forces, dropping $10 in mere minutes on the reported sale of 15,000 contracts. By day’s end, however, the Auggies had recouped enough ground to put a promising. Full Story
It will be either boom or bust for gold, silver and crude oil in the next one week. By next Friday either bulls or bears will rest in peace. There will be nothing in between. Short term key technical supports need to be upheld to test medium term resistances. Key supports for gold, silver and crude oil are $1262, $1698 and $44.30 they need to trade over these prices to continue their bullish zone. Full Story
There is something happening in the commodities complex that has been going on for awhile now that needs to be addressed tonight. A subtle change actually started earlier this year and has been gaining momentum especially in the energy sector. I know for a lot of you, with the weak US dollar, you are thinking, “how could commodities be declining,” which goes against everything you have learned about how the markets are supposed to work. If the markets always behaved like everyone thinks they should then there would be no markets, because everyone can’t be right. That’s the nature of the beast we’re trying to tame. Full Story
Polling has started in the UK national elections, while the European Central Bank (ECB) may discuss dropping additional stimulus pledges at a meeting later and former United States Federal Bureau of Investigation director James Comey will testify before the U.S. Congress about his interactions with President Donald Trump later in the day. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 8 June, 2017
Growth in the Eurozone is now clearly evident, but inflation is falling. As we said yesterday, Draghi, who has repeatedly said that policy makers must be convinced that inflation can rise toward 2% on its own, before removing monetary stimulus, may well make a point of this, but will, it seems only change his language in the statement slightly confirming this. This is positive for gold. Full Story
UK elections, European central bank meeting and US economic data releases will all affect metals and energies sector. Volatility will be very high. I am against buying gold unless it breaks and trades over $1303. Full Story
In what should come as no surprise to anyone around here, The Banks are once again creating as much paper metal as necessary to stall an advance in price. Already twice this year we've seen this happen in Comex Digital Silver and now The Banks are working their alchemic magic in Comex Digital Gold, too. Full Story
There is a risk of gold weakening before and on the day of the Federal Reserve interest rate announcement on June 14. However, the risk posed by the Fed tightening is exaggerated and even if the Fed does tighten by a meager 25 basis points, there are increasing doubts as to whether there will be further interest rate rises due to fragile U.S. and global economic growth. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 7 June, 2017
With inflation falling in the E.U. problems in the banking sector [Banco Popular has just been taken over by Santander in Spain] Draghi, who has repeatedly said that policy makers must be convinced that inflation can rise toward 2% on its own, before removing monetary stimulus, is set to leave the current stimulus position in place through the rest of this year. This is positive for gold. Full Story
It seems all terror attacks in democratic nations happen before an election. I rarely find any terrorist attack after an election. I am confident that once UK and German elections are over, Europe will not see terror attacks for quite a long time. In Europe or the UK all terrorists were known to the law enforcement agencies and still they slept. It is very easy to radicalize anyone these days. Give a dissatisfied person/unemployed person a mobile phone with an internet connection and continuously send him links for radicalization. Full Story
Gold climbed higher throughout most of world trade and ended near its late morning New York high of $1295.90 with a gain of 1.11%. Silver rose to as high as $17.741 and ended with a gain of 0.68%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 June, 2017
One is guarded about figures from Hong Kong being representative of Chinese demand. Gold enters China from Switzerland but also through Beijing and other ports of entry. In addition, the country mines around 450 + tonnes a year. It also imports gold directly from mines it owns outside the country. So the figures mentioned here are just part of the picture. What we do learn from these is that Chinese demand is running close to record levels. The government has encouraged this as a matter of policy, so as to build up the nation’s gold. Full Story
Banco Popular’s shares crashed another 17 per cent yesterday to record lows amid concerns the Spanish bank may have to be “wound down” and could see bail-ins of investors and depositors. There are increasing fears that there is no buyer for the bank and this saw its share price dropped to €0.34 (34 euro cents). The bank’s stocks had already fallen nearly 50 per cent in the last week and is down 63% this year. Full Story
Developments in Qatar will be closely watched. Energy is the root cause of all Middle East wars. After Qatar, Oman will be left. Oman could also start turning into a Yemen from next year. The so called energy war in the Middle East is a joint effort by the Saudi’s and NATO to make new nations including expansion of Israel. Iran is a powerful nation and also has the support of Russia. The Syrian war changed when Russia started intervening. NATO forces are no match for Russian weapons. Gold will get the benefit of doubt. Unofficial physical gold demand in the Middle East will zoom. Full Story
Gold gained $4.80 to $1283.00 by a little after 8AM EST before it dropped back to $1277.90 in the next four hours of trade, but it then chopped back higher into the close and ended with a gain of 0.11%. Silver rose to as high as $17.634 and ended with a gain of 0.29%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 June, 2017
New York closed $4.17 lower on Friday than the Shanghai Gold Exchange was trading at today ahead of Monday’s opening. London opened at around $1 lower than Shanghai was trading earlier today. These are very small price differences evidencing arbitrage operations at very professional levels [likely banking operations]. We have been watching these markets, as you know, very carefully over the last year. Full Story
A summer evening on London Bridge and in Borough Market ended in terror on Saturday as attackers killed seven people and injured 48. This is the second terrorist attack on British soil in less than two weeks and the the third this year. The attack was immediately labelled as a terrorist attack. In the hours that followed police arrested a further 12 people who were suspected of having links to the horrendous incident. Full Story
The UK terror attack will ensure that Ms. Theresa May gets a thumping majority in the UK elections on Thursday. I believe that these attacks are indirectly state sponsored to ensure Ms. May and her party continue to rule the UK. Everything is fair in love and politics. Even the Manchester suicide bomber and his group were known to UK law enforcement agencies. The Cable can fall first and then rise. There should be higher gold demand as a safe haven from Europe. Full Story
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