By: Chris Mullen, Gold-Seeker.com - 9 September, 2016
Gold saw slight gains in Asia before it drifted lower in London and New York, but it ended with a loss of just 0.64%. Silver slipped to as low as $19.067 and ended with a loss of 2.8%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 September, 2016
When it comes to measuring either the increase in Chinese gold reserves or the gold imports to China we must say that the information provided by the Chinese is only what they want us to know. With last month’s announcement of a 5 tonne increase in official gold reserves we read into it that they want all to know they are continuing to increase their reserves but not at a visibly aggressive rate. There are several ways they can increase their reserves but not take them onto their books, ‘officially’. Full Story
As some of you may know, in a previous life I wrote a lot about gold and silver. I took the perspective of someone who was new and curious to the precious metals. I wanted to know more than just how the Fed announcements affected the prices, why demand and supply weren’t enough to predict movements and why history didn’t seem to have taught us any lessons. Full Story
In spite and despite all the news etc, one should use sharp dips till the Federal Reserve meeting on 20-21 September to invest for the long term. Demand will start to pick up in silver and industrial metals as the month progresses. Factories will start making for Christmas and New Year end and also the great American Thanksgiving sales. Copper, Nickel and silver downside price risk will be limited. Zinc and lead have been outperformers however I have my doubts if they will continue their outperformer tag in the next quarter. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 September, 2016
Gold gained $4.22 to $1349.22 in late Asian trade before it fell back to $1335.71 by early afternoon in New York and then bounced back higher in late trade, but it still ended with a loss of 0.56%. Silver slipped to as low as $19.571 and ended with a loss of 0.81%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 September, 2016
The P.B. of C. has taken steps to increase borrowing costs offshore in an attempt to halt the decline of the Yuan against the U.S. dollar. We are still over three weeks away from acceptance of the Yuan into one of the currencies of the SDR. The Chinese do not want any accusations of manipulating the Yuan lower ahead of this acceptance as one of the world’s ‘hard’ currencies. Full Story
Gold and silver either break $1380 and $2070 by Monday or else they will fall back to $1303 and $1840. There will be nothing in between. Retail demand in India is not much on expectation of more price correction. Silver prices were trading at a discount to MCX silver December futures yesterday reflecting lack of demand. One needs to remain on the sidelines. However a daily close over $1341 today and tomorrow should be bullish for gold for the rest of the month. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 September, 2016
Gold saw slight gains in Asia before it chopped back lower in London and New York, but it ended with a loss of just 0.28%. Silver slipped to as low as $19.738 and ended with a loss of 1.3%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 September, 2016
With the re-opening of New York, yesterday, after a weekend in which they digested the disappointing Jobs report, it became clear that the hopes that had been raised of a rate hike this month were dashed by the report. The jump in prices, seen before the weekend, continued yesterday and caused a massive buy of 14 tonnes of gold into the SPDR gold ETF in the day. Full Story
Gold and silver rose sharply on Friday after the U.S. added just 151,000 jobs in August, according to the Labor Department’s report on non-farm payrolls. Much fewer than the 180,000 new jobs that economists were expecting and much lower than the 200,000 that is needed to keep up with new immigrants and others entering the jobs market. The precious metals saw a safe haven bid again yesterday after the Institute for Supply Management’s non-manufacturing survey, which clocked in at the lowest reading since 2010. Full Story
I have been writing regularly that other than the US interest rate factor, everything else is bullish for gold and silver. Gold and silver rose yesterday as chances of an interest rate hike this month is zero. Gold and silver are on the verge of a technical breakout. If they are able to rise for another week then massive short covering will be there paving the way for $1505 and $2374 in the immediate short term. One needs to wait before going short in gold and silver. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 September, 2016
Gold saw slight gains in holiday thinned trade yesterday before it dropped back towards Friday’s close in Asia today, but it then rallied back higher in London and New York and ended near its late session high of $1351.83 with a gain of 1.75%. Silver surged to as high as $20.124 and ended with a gain of 3.35%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 September, 2016
With New York closed we saw London do nothing and then follow Shanghai this morning. With London being the center of physical demand and supply one would have expected London to lead the way, but is followed both New York and Shanghai. But we do need to see strong moves to see clearly which market holds pricing power. At the moment it is New York and has been for a long time. Gold itself wanted to drift higher, which should set the tone for New York today. Full Story
Ireland remains especially exposed to another financial shock because of the extremely high levels of public and private debt, the open nature of the economy, and Brexit, Irish Central Bank Governor Philip Lane has warned in a pre-budget letter to Minister for Finance, Michael Noonan. Full Story
Holidays for the global markets are over. Trading volumes will slowly rise in currency markets as well as commodity markets. Initially it will be a technical trade. There is no big US economic data release for the next week. There will be a fight between gold/silver bulls and bears this month. Quarter end position squaring and rebuilding will increase volatility. The direction of the Japanese yen against the US dollar will be crucial for gold and silver. The Yen has weakened but is still below key medium term resistance of 107.30 (usd/jpy). Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 September, 2016
While New York is on holiday the jump in gold prices seen last Friday persists. The disappointing jobs report shook markets on Friday seemingly postponing a rate increase until the end of the year. Meanwhile the dollar continues to weaken against the major currencies, with the exception of the Japanese Yen. Full Story
Why take chances with your safe haven asset and money? Test your gold investment vehicle or provider today and see can you take delivery of at least some of your allocation to gold. If you can’t take delivery of physical gold, you don’t own gold. If you cannot hold your gold, you don’t own your gold. Possession remains 9/10s of the law. This will especially be the case in the coming global financial and monetary crisis. Full Story
Irrespective of the US economic data releases, gold and silver have yet to break $1380 and $2300. They have managed to trade over key long term supports of $1286 and $1676. This year the UK exit from the European Union and US interest rates have been the key drivers for gold. Central bank buying increases/decreases have not affected gold and silver last year nor this year. Full Story
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