Gold edged down to $1264.63 in Asia before it bounced back to $1276.86 at about 10AM EST and then fell back to roughly unchanged in the next 90 minutes of trade, but it then rallied back higher into the close and ended with a gain of 0.4%. Silver traded mixed and ended unchanged on the day. Full Story
The dollar intermediate cycle is not expected to bottom until September or October. A reasonable target for gold at that time would be between 1450 and 1550. Silver has completed a full 50% retracement of its intermediate cycle and, along with gold, is now beginning a new intermediate cycle. Full Story
The multi-billionaire hedge fund manager, the man who “broke the Bank of England” and one of the richest and most powerful men in the world has now publicly warned that inflation is likely soon and is voicing concerns about BREXIT, the disintegration of the EU, a Chinese financial crash, global contagion and a new World War. Full Story
Next week is the FOMC meeting. One needs to look for signs of profit taking before the FOMC meeting. Gold needs to trade over $1272 till next Friday on a daily closing basis to restart another bull run to $1397 and $1550. In case gold does not manage to trade over $1272 till next Friday, then there will be continuous fears of quick big correction. Full Story
Gold fell $5.01 to $1256.99 in London, but it then jumped up to as high as $1271.63 by early afternoon in New York and ended with a gain of 0.58%. Silver surged to as high as $17.325 and ended with a gain of 1.53%. Full Story
Mark O’Byrne, director of Dublin-based gold dealer Goldcore, said the price bounce had already driven a significant demand increase this year, with broader geopolitical concerns also feeding into the rise. “In the coming weeks, we’re expecting to be busy,” he said. “The recent polls (on Brexit) are going to create more jitters… that should lead to quite robust demand as we run into polling day.” Full Story
By: Peter Spina, President of GoldSeek.com - 8 June, 2016
It’s still early days for Goldsource and its Eagle Mountain project, but given management’s past track record and how it’s delivered on its commitments in Guyana, so far the future looks very promising! I continue to favor Goldsource as my largest junior gold producer investment as their ultra-low cost gold production begins to yield positive cash flow, reducing risks and providing further upside in both share price and growth opportunities. Full Story
Gold gained $20.19 to $1264.09 at about 10AM EST before it chopped back lower at times, but it still ended with a gain of 1.46%. Silver jumped to as high as $17.088 and ended with a gain of 3.9%. Full Story
Something very interesting took place in the COMEX Registered silver inventories last week. There were two very large transfers of silver from the Registered to the Eligible category. What makes these two large withdrawals so interesting is that the Registered silver inventories are now at a record low. Full Story
As I have been warning for weeks now, expecting a standard pullback in the metals and miners may leave you in the “DUST,” (yes, pun intended). You see, those with experience in the metals market know that the market will not usually provide much in the way of a standard pullback when they have really returned to their bullish state. So, I have been warning those that are waiting for the standard .500-.618 retracements that the train may leave the station without them. Full Story
Max Keiser and Stacy Herbert discuss the end of retirement which many Americans, Britons, Europeans and others will suffer as their pensions are decimated in the coming years due to zero percent interest rates and ultra loose monetary policies pursued for the benefit of banks and corporations. Full Story
Gold fell $9.26 to $1235.94 at about 8:30AM EST before it rallied back higher into the close, but it still ended with a loss of 0.1%. Silver slipped to as low as $16.245 and ended with a loss of 0.43%. Full Story
Gold prices surged nearly 3% after the very poor jobs number on Friday, have maintained those gains and appear to be consolidating as concerns about the U.S. economy and BREXIT deepen. Gold was marginally higher again yesterday and 2.7% higher last week breaking a run of recent weekly losses and a 5% loss in May. Full Story
It is better to ignore the Yellen speech and trade in the technical. Traders are now starting to postpone the expectations of an interest rate hike to September. In my view, if the Federal Reserve does not raise interest rates in July, then it may not do so for the rest of the year. Gold investment demand should now rise as the risk to return ratio moves in favor of the buyer. Full Story
Gold dipped $3.77 to $1240.13 in London before it bounced back to $1247.30 in late morning New York trade and then chopped back towards $1240.00 in early afternoon trade, but it then edged back higher into the close and ended with a gain of 0.1%. Silver jumped up to $16.528 before it dropped back to $16.364, but it still ended with a gain of 0.65%. Full Story
“Gold may be embarking on a new bull run and has the scope to rise to $1,400 per ounce over the coming year,” Allocated Bullion Solutions (ABS) stated in a report on Wednesday. The group expects market weakness to persist in the short term, along with a reappraisal from the market on the path of U.S. monetary policy. Full Story
Perhaps that mobile phone manufacturer, driven by falling volumes and compressing profit margins, is pressured to approach silver mining companies (and all other suppliers) to see if they can cut their costs. Perhaps they were not bidding up scarce silver at the source, but putting in a lowball bid below market. We don’t have that information, but one thing’s for sure.
Silver demand is weak while silver supply is robust. Full Story
It has been a sort of a muted reaction by gold and silver in the Asian session after Friday’s US jobs number. Yellen’s speech today and other risk’s over the next two weeks are preventing gold and silver from zooming. In May everyone was foxed after the US jobs number. Traders and investors are all cautious. If the Federal Reserve overlooks the US jobs numbers, then it can still raise interest rates this month or next month. There are bright spots all over the US economy apart from the employment numbers. The UK European Union referendum will also have an impact. Full Story
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