WHOLESALE and futures prices for gold dumped 1.8% inside 2 minutes Friday lunchtime in London, extending the week's losses to $50 per ounce at a 3-month low of $1265. The move came on suddenly heavy volume in the gold futures market, which had previously been quiet after Thursday's fall through $1300. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 October, 2013
Gold jumped up to $1311.28 just after 8:30AM EST before it fell back to $1294.52 in the next half hour of trade and then bounced back higher midday, but it then fell back off again in the last hour of trade and ended with a loss of 1.45%. Silver slipped to $21.68 in late Asian trade before it popped up to $22.195 in early New York trade, but it then fell back off into the close and ended with a loss of 1.19%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 October, 2013
New York closed at $1,306.30 down $13.00 on yesterday. Asia held gold there ahead of London’s opening. At the Fix, gold was set at $1,298.00 down $11 on yesterday. In the euro it Fixed at €959.56 down €8.75. Ahead of New York’s opening gold was trading at $1,300.00 and in the euro at €960.97. Full Story
WHOLESALE PRICES in Asia and London for physical gold slipped again Thursday morning, dipping back below $1300 per ounce as politicians in Washington mulled a short-term fix to avoid the $17 trillion debt ceiling triggering a government default in one week's time. Silver also eased back, trading below $22 per ounce, as world stock markets rose and major government bonds slipped, nudging 10-year US Treasury yields up to 2.70%. Full Story
Gold edged off, falling beneath $1,300/oz in London as the dollar bounced from an eight-month low on hopes that the considerable risks due to the U.S. government shutdown and debt ceiling are addressed. COMEX selling continues to pressurise the price despite robust demand especially from China and India. Premiums in India were at $50 per ounce overnight and on the Shanghai Gold Exchange premiums were at $21 per ounce overnight. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 October, 2013
Gold fell $24.16 to $1295.24 by a little after 10AM EST before it bounced back to $1313.64 in the next four hours of trade, but it then edged back lower in the last two hours of the day and ended with a loss of 0.99%. Silver slumped to as low as $21.755 and ended with a loss of 2.02%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 October, 2013
New York closed at $1,319.40 down $3.00 on yesterday. Asia took gold $2 lower ahead of London’s opening. At the Fix, gold was set at $1,309 down $12 on yesterday. In the euro it Fixed at €968.279 down €4.9. Ahead of New York’s opening gold was trading at $1,310.30 and in the euro at €968.91. Full Story
The WHOLESALE price of gold gave back this week's 1.4% gains Wednesday morning in London, dropping below $1310 per ounce as European shares recovered earlier losses. Commodities ticked lower, as did non-US government bonds, while silver followed gold lower, but retained a 1.0% gain for the week so far. Full Story
Gold ticked lower today as the U.S. budget impasse dragged on for a second week and threatened to spill over to talks about raising the U.S. debt ceiling, boosting the metal's safe-haven appeal. President Obama, Republican and Democrat politicians remain intransigent and President Obama said yesterday he would negotiate on budget issues only if they agree to re-open the federal government and raise the debt limit with no conditions. Full Story
In my view the US senate deadlock will be over before the weekend. The economic impact of the shutdown will be the key over the coming few weeks. Tapering by the Federal Reserve, which has been the key theme so far in 2013, will not be heard for the rest of the year. In fact, I have my doubts whether the USA will be able to get out of the zero interest rate spiral. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 October, 2013
Gold saw a slight gain at $1327.06 in Asia before it fell back to $1315.94 in London and then climbed to as high as $1329.80 by midmorning in New York, but it then fell back off in the last 6 hours of trade and ended with a loss of 0.23%. Silver slipped to $22.11 before it rebounded to $22.476 and then also fell back off in late trade, but it ended with a loss of just 0.13%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 October, 2013
New York closed at $1,322.4 up $11.80 on yesterday. Asia took gold $5 higher ahead of London’s opening. At the Fix, gold was set at $1,321 up $10 on yesterday. In the euro it Fixed at €973.184 up over €8.0. Ahead of New York’s opening gold was trading at $1,323.30 and in the euro at €975.27. Full Story
The PRICE of gold halved yesterday's gains in London trade Tuesday morning, slipping below $1320 per ounce as European stock markets extended their drop and the US government shutdown continued. Silver fell less than gold, edging back towards $22.20 from a new 3-week high hit overnight at $22.46 per ounce. Full Story
Gold is being supported as the U.S. government shutdown that continues with no end in sight and the deadline to raise the national debt ceiling looms, burnishing gold's safe haven appeal. Prices also found support from China, which reopened after a week-long National Day holiday. Asian demand and Chinese demand in particular remain robust. China’s August gold imports from Hong Kong were a strong 131,423.7 kilograms, the Hong Kong government announced today and dealers in Hong Kong said they were seeing good buying interest from China. Full Story
The longer it takes for US politicians to get over their disagreements on running the US economy, the greater are the chances of gold starting another big bull run. Gold bears have tried their best to try and make gold fall below $1260 but have been unsuccessful. In case gold does not fall below $1260 by the first week of November the chances of a rise to $1430-$1500 will be very high. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 October, 2013
Gold climbed $5.35 to $1315.95 in early Asian trade before it fell back to $1308.50 at about 3:30AM EST, but it then climbed to as high as $1328.30 in New York and ended with a gain of 0.9%. Silver surged to as high as $22.447 and ended with a gain of 3%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 October, 2013
New York closed at $1,310.60 down just under $7 on Friday. Asia took gold $5 higher before slipping back $4 ahead of London’s opening. At the Fix, gold was set at market prices at $1,311 down $5 on Friday. In the euro it Fixed at €965.11 down nearly €2.0. Ahead of New York’s opening gold was trading at $1,312.00 and in the euro at €966.5. Full Story
PRECIOUS METAL prices were unchanged in what dealers called "thin, quiet" Asian and London trade Monday morning, despite increasing fears the US government will fail to meet its obligations in only 10 days' time. "Congress is playing with fire," Treasury secretary Jack Lew told CNN on Sunday. Because "if the United States government, for the first time in its history, chooses not to pay its bills on time, we will be in default. Full Story
U.S. politicians remain very far apart in ending the first government shutdown in 17 years stoking fears they will not be able to reach a deal to raise the U.S. borrowing limit by October 17 to avoid an unprecedented debt default. Congress should limit Wall Street's controversial role in commodity markets, and rewrite a law that gives banks broad leeway to own oil, metals and other raw materials, a senior U.S. regulator said on Friday. Full Story
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