Gold remained near unchanged in Asia and London before it dropped in early New York trade to as low as $1525.79 by a little after 10AM EST and then rallied back higher midday, but it then fell back off again in late trade and ended with a loss of 0.82%. Silver fell to as low as $36.222 in the last minutes of trade and ended with a loss of 2.68%. Full Story
IN THE murky realm of economic policy, things are not always what they seem. "When it becomes serious, you have to lie," Luxembourg's prime minister and chairman of the Eurogroup of finance ministers Jean-Claude Juncker reminded us a few weeks back. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 June, 2011
After a quiet and steady week, gold jumped in New York yesterday. In Asia, after New York’s higher close at $1,540, the gold price was steady, which was surprising because it was in the face of a stronger dollar. The result was the gold in the euro jumped from below €1,049 to €1,064. Full Story
SPOT MARKET gold prices traded in a tight range around $1542 per ounce Friday morning London time – almost exactly where they started the week – while stocks and commodities fell and US Treasury bonds gained as Eurozone policymakers remained deadlocked over Greece's debt problems. Full Story
Gold has risen to new record nominal highs in British pounds and is consolidating just below recent record nominal highs in U.S. dollars, euros and other currencies. The ECB’s rate decision and Trichet’s ‘signals’ saw the euro fall sharply against the dollar and against gold with gold in euro terms quickly rising from €1,050/oz to over €1,065/oz. Full Story
Central bank meetings are over. All eyes will be on incoming US economic numbers before the Federal Reserve meeting. Euro/usd has fallen after the European central bank meeting did not disappoint the markets by confirming an interest rate hike next month. Full Story
Gold fell $3.77 to $1533.13 in London before it jumped up to $1540.65 in early New York trade and then fell back to roughly unchanged by about 10:30AM EST, but it then jumped to a new session high of $1549.40 by late morning and ended with a gain of 0.31%. Silver climbed to as high as $37.578 and ended with a gain of 1.83%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 June, 2011
Overnight gold stayed at New York’s closing level of $1,536.90. It was not until London opened that the gold price started to move slightly down. At London’s morning Fix it was set at $1,534.00 and in the euro at €1,049.97. Gold is still consolidating. Full Story
THE U.S. DOLLAR gold price continued holding steady on Thursday morning, trading in a tight range around $1536 per ounce – 2.6% off May's spot market record high – while stocks and commodities rose ahead of UK and Eurozone interest rate announcements. Full Story
Gold is marginally lower while silver is showing strength again today after yesterday’s 'worst ever' OPEC meeting ended in disarray and saw oil prices surge. Markets await today’s ECB rate decision and signs as to whether interest rates are set to rise sooner rather than later. Signs of an interest rate rise in July should see the euro and gold rally versus the dollar. The precious metals are also likely to be supported by further sharp falls in peripheral markets bonds, particularly Greece, this morning. Full Story
Gold fell $12.04 to $1530.66 by a little after 8AM EST before it shot up in early New York trade and saw a slight gain at $1542.81 about an hour and a half later, but it then drifted back lower into the close and ended with a loss of 0.38%. Silver dropped to as low as $36.059 before it rallied back higher in New York, but it still ended with a loss of 1.24%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 June, 2011
In the euro the gold price has slipped to €1,048.78 from €1,055.06. Asia allowed the price to fall from over $1,540 overnight and the gold Fix in London was set at $1,535.50 and in the euro at €1,047.98. Take a look at the table at the bottom and you see that gold has fallen in most currencies. It remains in consolidation mode. The dollar moved slightly stronger to €1: $1.4618 in London’s morning. Full Story
SPOT MARKET prices for gold bullion continued to fall Wednesday morning, dropping to $1533 per ounce – a 0.6% loss on the week – while stocks and commodities also fell and US Treasuries rose following Tuesday's speech by Federal Reserve chairman Ben Bernanke. Full Story
Gold and silver are lower today despite European equities falling for a sixth day on sovereign debt and economic growth concerns. Bernanke’s failure to even suggest that the Federal Reserve will embark on further stimulus and QE3, after QE1 and QE2 failed to kick start the US economy, has markets jittery. Full Story
Gold climbed $4.49 to $1550.09 in London, but it then fell back off in late morning New York trade and ended near its midday low of $1536.25 with a loss of 0.19%. Silver surged to as high as $37.502 in London before it also fell back off in New York and dropped to as low as $36.48 by late morning, but it then bounced back higher in afternoon trade and ended with a gain of 0.71%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 June, 2011
In the euro the gold price is barely moving at €1,055.06 up just 40 cents from yesterday’s price. Again the gold price is about the dollar not about gold. The dollar is on the wane again. We are now in the seasonal ‘doldrums’ for the gold market and yet the gold price has not fallen. New York closed with gold at $1,545 and London is moving it up in line with the dollar’s decline. The dollar continued to want to weaken and stood at €1: $1.4677 in London’s morning. Full Story
DOLLAR PRICES to buy gold rose to a high of $1550 per ounce on Monday morning – less than 2% off last month's all-time high – before slipping back slightly, while commodities were mixed and European stock markets rose. Full Story
Gold and silver are higher again today with the U.S. dollar and yen in particular under pressure as concerns about the outlook for growth in Japan, the UK, the EU and the U.S. deepens. Gold reached new record nominal highs in sterling yesterday at £949.83/oz on concerns about the UK economy. Full Story
Gold climbed to $1547.83 in Asia before it fell back to $1540.80 in London, but it then rose to a new session high of $1553.39 in New York and ended with a gain of 0.29%. Silver climbed to as high as $37.268 in New York and ended with a gain of 1.97%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 June, 2011
New York closed with gold at $1,541 and Asia plus London took the gold price higher. The dollar continued to want to weaken and stood at €1: $1.4640 for much of the morning in London before strengthening slightly to €1: $1.4420 ahead of New York’s opening. In the euro gold was Fixed at €1,054.66 still at the bottom of its trading range. In the dollar gold Fixed at $1,542.75 nearly the same as it was in New York on Friday. Full Story
U.S. DOLLAR gold prices hit $1548 per ounce in Asian trading Monday – a near-one-month high, and a 1.8% gain on last week's low – before slipping back when London opened, while stock and commodity markets continued to drop after Friday's disappointing US jobs data. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 June, 2011
If gold were generally accepted as collateral in global monetary dealings, would we see it used as such? Strangely enough –No! In certain transactions, however, where no other collateral –whether currencies, government bonds and the like—is used, gold may be used, as a last resort. Full Story
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