By: Chris Mullen, Gold Seeker Report - 10 November, 2017
Gold saw only slight losses in Asia and London, but it then plummeted down to $1273.60 in early afternoon New York trade and ended with a loss of 0.79%. Silver slipped to as low as $16.798 and ended with a loss of 0.71%. Full Story
– Gold coins and bars saw demand rise 17% to 222t in Q3, driven largely by China – Chinese investors bought price dips, notching up fourth consecutive quarter of growth – Jewellery, ETF demand fell while gold coins and bars saw increased demand – Central banks bought a robust 111t of gold bullion bars (+25% y-o-y) – Russia, Turkey and Kazakhstan account for 90% of 111t of central bank demand – Turkey increased gold purchases and saw broad based physical gold demand – Gold demand in Q3 at eight-year low as ETF inflows slowed sharply – Gold demand saw 9% year-on-year (y-o-y) drop in to 915 tonnes (t) – Total global gold supply fell 2% in Q3 Full Story
The US dollar weakened and gold rose on suspicion that Trump’s tax cut proposal could see modifications. The next seven days is filled with market moving US economic data releases. The answer which investors will be looking for is what next after the expected December interest rate hike by the Federal Reserve. I am looking into global inflation/deflation targets for next year. Energy price trend will play a key role in inflation direction next year. The big challenge is to judge the pace of rise of crude oil prices and not the actual rise. At the moment the bottom for crude oil looks at $42 and top at $86+ in the next twelve months. Full Story
By: Chris Mullen, Gold Seeker Report - 9 November, 2017
Gold gained $7.20 to $1288.10 in London before it dropped back to $1282.10 in late morning New York trade, but it then rallied back higher in afternoon trade and ended with a gain of 0.41%. Silver rose to as high as $17.14 and ended unchanged on the day. Full Story
– Diversify, rebalance investments and prepare for interest rate rises – UK launches inquiry into household finances as £200bn debt pile looms – Centuries of data forewarn of rapid reversal from ultra low interest rates – 700-year average real interest rate is 4.78% (must see chart) – Massive global debt bubble – over $217 trillion (see table) – Global debt levels are building up to a gigantic tidal wave – Move to safe haven higher ground from coming tidal wave Full Story
Gold and silver are not out of the woods. So far Trump has not said anything to destabilize the markets. Fears of a surprise resulted in the rise of gold and silver yesterday. Developments in Saudi Arabia are here to stay. It may or may not affect metals and crude oil. The internet is filled with speculation that there is collusion between Israel and Saudi to expand Israel among other political agendas. Something is fishy in Saudi Arabia. Something big will happen in the Middle East over the coming months. Only big political news from the Middle east will impact global financial markets. Full Story
By: Chris Mullen, Gold Seeker Report - 8 November, 2017
Gold gained $10.70 to $1287.10 in late morning New York trade before it edged back lower into the close, but it still ended with a gain of 0.35%. Silver rose to as high as $17.242 and ended with a gain of 0.29%. Full Story
Every week in MoneyWeek magazine there’s a small column devoted to great investors from the past. You read a bit about who they were, what their circumstances were and what their methodologies were. Sometimes I’ve heard of them, sometimes I haven’t – but as often as not it seems that they were a value investor of some kind. Value investing is, I suppose, the most basic and instinctive of investing systems. You buy when you deem something to be cheap and you sell when it gets expensive. The principle has been applied for as long as humans have invested money. Full Story
By: Chris Mullen, Gold Seeker Report - 7 November, 2017
Gold edged down to $1275.30 at about 4AM EST before it bounced back to $1280.10 in midmorning New York trade and then dropped to a new session low of $1272.30 by late morning, but it then chopped back higher into the close and ended with a loss of just 0.36%. Silver slipped to $16.987 before it rallied back to $17.183, but it then fell to $16.925 in early afternoon trade and ended with a loss of 1.65%. Full Story
– Gold mining production in China fell by 9.8% in H1 2017 – Decreasing mine supply in world’s largest gold producer and across the globe – GFMS World Gold Survey predicts mine production to contract year-on-year – Peak gold production being seen in Australia, world’s no 2 producer – Peak gold production globally while global gold demand remains robust Full Story
Higher crude oil prices are supporting gold and silver. Gold and silver have always flourished in an inflationary environment. Focus will shift to inflation. If crude oil prices continue to rise then one should use sharp dips to invest for the short term. I see a direct correlation between gold prices and crude oil prices. Trump’s South Korea visit and China visit will be closely watched. Ways to deal with North Korean nukes will affect gold and silver prices. Full Story
By: Chris Mullen, Gold Seeker Report - 6 November, 2017
Gold fell $3.80 to $1266.30 in Asia, but it then shot to as high as $1282.70 in early afternoon New York trade and ended with a gain of 0.86%. Silver surged to as high as $17.255 and ended with a gain of 2.38%. Full Story
– German gold demand surges from 17 ton-a-year to a 100 ton-plus per year – €6.8 Bln spent on German gold investment products in 2016, more per person than India and China – Germans turned to gold during financial crises and ongoing euro debasement – Evidence of latent retail demand on increased economic concerns – “Gold fulfils an important long-term, wealth preservation role in German investors’ portfolios” Full Story
Focus will be on geopolitical risk after Trump’s Asia trip. Saudi Arabia’s clamp down on detractors by labelling them as corrupt will weigh on the markets. Economically there is nothing as most of the good news has been factored in by the markets. All the focus is on crypto currencies and bitcoins. If gold and silver fall this week, then everyone will be looking for signs of a medium term bottom. Short term investors are cautious about investing in gold. Full Story
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