By: Chris Mullen, Gold-Seeker.com - 10 January, 2014
Gold saw decent gains in Asia before it fell back to $1228.59 just as this morning’s jobs report was released, but it then climbed to as high as $1248.75 by early afternoon in New York and ended with a gain of 1.52%. Silver surged to as high as $20.25 and ended with a gain of 2.86%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 January, 2014
Yesterday the gold price in New York rose back to close at $1,228.40 after which Asia lifted it to $1,234. The dollar hardly moved at $1.36.12: €1 ahead of London’s opening. In London the gold price was Fixed at $1,232.25 up $6.25 on yesterday. In the euro it, Fixed at €906.533 up nearly €6.00. Ahead of the opening in New York gold stood at $1,233.40 and in the euro at €907.55. The dollar stood at $1.35905: €1 Full Story
Gold is slightly higher today in all major currencies and up nearly 1% in sterling after the UK’s industrial and manufacturing production number was much worse than expected. There was more unusual trading at 10.00 GMT when in a matter of seconds, gold sold off by $5 from $1,233/oz to $1,227.75/oz which is fraction below the opening price today. Then almost instantaneously, gold spiked to $1,237.77/oz and then fell back to the $1,233/oz level once again. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 January, 2014
Gold climbed $6.24 to $1231.14 at about 8AM EST before it fell to as low as $1223.61 by late morning in New York, but it then bounced back higher in early afternoon trade and ended with a gain of 0.29%. Silver slipped to as low as $19.413 by late morning in New York before it shot to a new session high of $19.712 in early afternoon trade, but it then drifted back lower into the close and ended with a gain of just 0.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 January, 2014
Yesterday the gold price in New York fell again to the lower $1,220 area, but was being pulled higher to the $1,226 level in Asian trade. The dollar was strengthening and was at $1.3596: €1 ahead of London’s opening. In London the gold price was Fixed at $1,226.00 up 50 cents on yesterday. In the euro it Fixed at €900.610 down nearly €2.00. Ahead of the opening in New York gold stood at $1,227.50 and in the euro at €901.712. The dollar stood at $1.3613: €1 Full Story
Gold is slightly higher today but lower this week. Investor sentiment remains extremely bearish but physical buyers continue to accumulate at these low prices. The UK Royal Mint has run out of 2014 British gold sovereigns due to unprecedented demand. Respected technical research analyst Louise Yamada predicts further falls in gold. She estimates a short term 19% drop to $1,000 in 2014. However she remains very bullish on gold in the long term. Bloomberg’s analyst survey of 15 polled this week were the most bullish in a year on gold with only 2 bearish and four neutral. UBS sees near term support at $1,207.57/oz. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 January, 2014
Gold fell $10.53 to $1221.77 at about 4:40AM EST before it rebounded to $1231.91 in the next two and half hours of trade and then fell to a new session low of $1218.83 after the release of today’s fed minutes, but it then bounced back higher in the last couple of hours of trade and ended with a loss of just 0.6%. Silver slipped to as low as $19.332 and ended with a loss of 1.56%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 January, 2014
Yesterday the gold price in New York fell to $1,232.30 down $5.70 with the dollar steady at $1.3623: €1. Today the gold price was Fixed at $1,225.50 down $11 on yesterday. In the euro it Fixed at €902.502 down €5.422. Ahead of the opening in New York gold stood at $1,226.00 and in the euro at €902.333. The dollar stood at $1.3586: €1 Full Story
Gold edged down in London for the second day ahead of the release of the U.S. Federal Open Market Committee minutes. Strong support is at $1,180/oz which could turn into a double bottom and resistance is at $1,250/oz and $1,270/oz. FXStreet.com's Dale Pinkert interviewed Research Director, Mark O'Byrne on Monday about the current state of the gold and silver markets, the history of paper currencies, a global currency reset, the amero currency, the gold silver ratio and silver rising to $150/oz in the coming years. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 January, 2014
Gold climbed $6.40 to $1245.20 in Asia before it fell to as low as $1224.96 in morning New York trade, but it then bounced back higher into the close and ended with a loss of just 0.52%. Silver slipped to as low as $19.639 and ended with a loss of 1.49%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 January, 2014
Yesterday the gold price in New York rose to $1,238 and vacillated around that level with the dollar around $1.3620: €1. Today the gold price was Fixed at $1,237.50 down 50 cents on yesterday. In the euro it Fixed at €907.924. Ahead of the opening in New York gold stood at $1,240.00 and in the euro at €908.62. The dollar stood at $1.3647: €1 Full Story
Gold has continued to recover from yesterday’s latest peculiar ‘flash crash’ when gold futures plunged more than $30 at 15:14 a.m. GMT on Monday, before regaining nearly all of that drop within the same minute. Gold remains just under a three week high in London and appears to be consolidating after the 2.9% gains year to date. Full Story
Yesterday’s fall in gold and silver after the release of ISM numbers and the recovery thereafter is just a trailer of the year. There will be more such moves every now and then. By now all of us must have woken from holiday affect effects. Central banks are trying their best to ensure that gold prices never rise and gold bulls are cremated as soon as possible. Full Story
By: Chris Mullen, Gold-Seeker.com - 6 January, 2014
Gold climbed $9.91 to $1246.31 in early Asian trade before it fell back to $1235.82 by a little before 8AM EST and then rose to a new session high of $1248.18 at about 10:10, but it then “flash crashed” down to $1211.86 at 10:14 and was halted for 10 seconds following a “velocity logic” event - Gold Flash Crashes, Halts Trading Zero Hedge. The yellow metal quickly rebounded however, and ended not far from its pre-crash high with a gain of 0.19%. Silver rose to as high as $20.335 and ended with a gain of 0.05%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 January, 2014
On Dec 24th the gold price in New York rose stood at $1,198.50 the dollar stood at $1.3677: €1. Today we see gold having touched $1,238 and the dollar at $1.3607: €1. Asia is mainly responsible for the rise in prices ahead of London’s. Today the gold price was Fixed at $1,238.00. Ahead of the opening in New York gold stood at $1,237.40 and in the euro at €909.38. Full Story
Gold rallied for its fifth day and last week showed its highest margin growth since October on signs of stronger demand from China. Gold ETF products have dropped to levels not seen since the 2008 financial crisis. With speculative hands exiting the market, physical demand may again drive prices. Full Story
Minutes of December’s Federal Reserve meeting on Wednesday and December US nonfarm payrolls on Friday will be the key. U.S. services sector on Monday and durable goods orders report will be the key. Technically gold needs to trade over $1237 this week to target $1269 and $1281. The greater the rise, the more short covering will be seen in gold. We are against going short in gold prices at the moment and will prefer to wait and watch for some more time before taking a call. Silver will see a big one way $100-$200 move anytime in the next two weeks. Full Story
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