By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 May, 2013
Gold closed in New York at $1,456.20 down $16 in New York yesterday. In Asia, gold remained at that level but in London it began to slide. It was Fixed at $1,449.25 down $20 on yesterday and in the euro at €1,114.122 down only €4 while the euro was much weaker at €1: $1.3008 down €0.0128. Ahead of New York’s opening it stood at $1,432.00 and in the euro at €1,102.34. Full Story
SPOT MARKET gold bullion prices fell to two-week lows Friday, drifting lower towards $1440 an ounce during this morning's London session before dropping sharply through that level, as stocks gained and most commodities fell as the Dollar strengthened against major currencies. Full Story
As the global economic slump continues central bankers, such as Mario Draghi, and politicians have vowed “to do whatever it takes” to get economies back on track. Such policies while having near term benefits are considered extremely risky in the longer run by many commentators as they could beckon runaway inflation or stagflation, with ruinous results. Full Story
Gold fell $13 to $1459.60 at about 9:30AM EST before it rebounded to about $1472.00 in the next three and half hour of trade, but it then fell to a new session low of $1453.30 in afternoon trade and ended with a loss of 1.11%. Silver slipped to as low as $23.56 and ended with a loss of 0.92%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 May, 2013
Gold closed in New York at $1,472.60 up $20 in New York yesterday. In Asia, gold remained at that level. London held it there and it was Fixed at $1,469.50 up $15.5 on yesterday and in the euro at €1,118.681 up €10 while the euro was at €1: $1.3136. Ahead of New York’s opening it stood at $1,472.55 and in the euro at €1,120.36. Full Story
SPOT GOLD PRICES slipped back below $1470 per ounce Thursday morning in London, drifting as world stock markets failed to follow Wall Street higher, where equities yesterday hit new all-time highs. Full Story
Jewellers across the world are seeing a surge in jewellery purchases because consumers are taking advantage of the price drop and purchasing investment pieces that will grow in value over time. In the USA with Mother’s Day approaching this weekend, consumers like Whitney Court who would normally buy flowers instead wants to purchase something that won’t wilt: a silver necklace. Full Story
Gold saw a slight loss at $1450.14 at about 6AM EST before it jumped up to $1469.90 by a little after 8AM EST and then drifted back off into midday, but it then jumped to a new session high of $1476.30 in early afternoon New York trade and ended with a gain of 1.42%. Silver dropped to $23.73 before it jumped up to $24.08 and then fell back off to $23.67, but it then climbed back to as high as of $24.00 in early afternoon New York trade and ended with a loss of just 0.08%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 May, 2013
Gold closed in New York at $1,452.00 down $17.90 in New York yesterday. In Asia, gold recovered to $1,455. London held it there and it was Fixed at $1,454 down $9 on yesterday and in the euro at €1,108.739 down €10 while the euro was at €1: $1.3114.00078. Ahead of New York’s opening it stood at $1,464 and in the euro at €1,115.68. Full Story
WHOLESALE market prices for buying gold climbed back above $1460 an ounce during Wednesday morning's London trading, in line with its range over the last week, as stocks gained and longer-dated US Treasuries dipped ahead of an auction of 10-year bonds later today. Full Story
Gold is still the favourite for Indian consumers and today 90% of gold imports are routed through banks. This year’s Akshaya Tritiya festival in India falls on May 13th. It is the second-biggest gold buying festival after Dhanteras. The Indian Wedding season has just begun and will continue until July. Full Story
Gold dropped $28.60 to $1441.30 by a little after 10AM EST before it bounced back higher into the close, but it still ended with a loss of 1.22%. Silver slid to as low as $23.439 in early New York trade, but it then climbed to as high as $23.967 in early afternoon trade and ended with a loss of just 0.29%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 May, 2013
Gold closed in New York at $1,469.90 up $0.70 in New York yesterday. In Asia, gold fell $11 to $1,458. London pulled it up to $1,464 before it Fixed at $1,463 and in the euro at €1,118.673 while the euro was at €1: $1.3078. Ahead of New York’s opening it stood at $1,464 and in the euro at €1,115.68. Full Story
WHOLESALE gold market prices fell to $1460 an ounce Tuesday morning, around ten Dollars lower than where it closed last week, as the FTSE in London ticked higher following yesterday's UK bank holiday. Other European stock markets also edged higher, while the Euro gained against the Dollar immediately following the release of better-than-expected German factory orders data. Full Story
A bank holiday was observed in the U.K. and Ireland yesterday. Ireland’s Finance Minister, and current European Council President, Michael Noonan, is introducing a proposal to European finance ministers that will hit depositors that hold over €100,000 in the event of future bank collapses. The Irish know a bit about bank wind-downs, and maybe have realized sticking it all on the tax payer, severe austerity, doesn’t leave citizens with many euro’s left to consume and jump start the economy. Full Story
By: Manan Somani, Insignia Consultants - 7 May, 2013
In case the Japanese yen trades over 100.00 against the US dollar for a few days or a few weeks then gold will fall and move into yet another bear territory (assuming middle east tensions do not escalate further). In the absence of major market moving news the Japanese yen will be the driver for gold prices. Full Story
Gold climbed up to $1478.72 in Asia before it fell back to $1464.50 at about noon EST, but it then bounced back higher in the last four hours of trade and ended with a gain of 0.05%. Silver rose to $24.421 before it slipped back to $23.836 and then also rallied back higher, but it still ended with a loss of 0.37%. Full Story
Gold prices have remained on a positive footing this morning despite adverse currency market action and signs of ongoing slowing from the Euro zone. Talk of ongoing physical gold demand in Asia overnight contributed to the initial higher price action but a slight rise in open interest in gold futures on the May rally has fostered a measure of technical optimism. Unfortunately for the bull camp, gold saw a key gold derivative instrument holdings decline again at the end of last week. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 May, 2013
Gold closed in New York at $1,469.20 up $2.20 in New York on Friday. In Asia, gold rose further to $1,474. As London is closed today there is no Fixing. Ahead of New York’s opening it stood at $1,476.05 and in the euro at €1,126.41. Full Story
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