By: Chris Mullen, Gold-Seeker.com - 11 November, 2016
Gold gained $7.95 to $1264.75 in Asia before it fell back to $1221.12 in early afternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 2.32%. Silver slipped to as low as $17.199 and ended with a loss of 6.32%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 November, 2016
Volatility has not finished by a long way! First we saw a Trump Hump, then a Trump Dump! There is nothing yet to establish tomorrow’s realities. Hopes and expectations are all we have to go on. While, the re-building of the U.S.’ infrastructure is on the cards [with a major cut in Company tax, together with a small 10% tax on repatriated funds from overseas, paid for with debt] we have no doubt that deflation will halt and inflation take its place. But this process will take from two to three years before we see action on the ground. Full Story
“The New Case for Gold,” outlined why he believes gold is going to $10,000/oz in the coming years and why the number one reason to buy gold bullion given the new risks in the 21st century digital age is “cyber financial warfare.” This poses risks to investors’ and savers’ assets that are held online. Tesco deposit account holders will agree with that after they were hacked and account holders have had funds stolen directly from their accounts. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 November, 2016
Gold gained $17.19 to $1291.69 in Asia, but it then fell back off in London and New York and ended with a loss of 1.39%. Silver rose to as high as $18.963 before it dropped back to $18.418 in midmorning New York trade, but it then bounced back higher into midday and ended with a gain of 0.65%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 November, 2016
Volatility is what we saw in all global markets. We doubt the volume of trading in physical gold was that much, but dealers and speculators showed their confusion taking gold and silver prices very high at first only to pull them back to their lows later in the day. But as always these gentlemen are ‘full of sound and fury and signify nothing’. It certainly was no place for widows and orphans. As we can all see, the emotional content of all global financial markets was huge, sowing confusion all around. But as the shock or awe subside, the fog will clear and a trend established. Full Story
Central banks added 81.7t to their gold reserves in the third quarter Total central banks purchases in the year-to-date reach 271.1t. Fellow-SCO member Kazakhstan and Belarus also had to holdings 90% of reserve managers intend to increase or maintain gold reserves. “The case for gold remains compelling for reserve managers” state WGC Unconventional monetary policies will underpin gold demand in coming years. Full Story
The elected US President is against the zero interest rates policy which the Federal Reserve is following. Depending on how many new jobs start getting created, the Federal Reserve could start a quicker pace of interest rate hike than currently discounted. However a certain section of the market now believes that an interest rate hike in December will be delayed and will be left to Trump’s team to take the call. Gold can fall first and then rise. Gold could also consolidate in wider $1166-$1321-$1447 range till January of next year. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 November, 2016
Gold gained $61.61 to $1337.21 in Asia before it fell all the way back to $1270.05 in early afternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 0.1%. Silver rose to as high as $18.996 before it also fell back off, but it still ended with a gain of 0.35%. Full Story
GoldSeek reached out for comment late tonight as election results started pouring in shocking markets. With the final verdict still out on the winner of the US Elections, but with markets reacting in favor of a Trump win, we solicited the following comments on the big market action:
- Brien Lundin, GoldNewsletter - Chris Powell, GATA - Bill Murphy, LeMetropole Café / GATA - Andrew Hoffman, Miles Franklin - Axel Merk, Merk Investments President - Anthem Hayek Blanchard, Anthem Vault - David Morgan, TheMorganReport Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 November, 2016
The U.S. now knows that ‘Brexit’ feeling and then some! As you can see above, gold and silver will be direct beneficiaries. But here we are not just talking about a rise in prices, but a change in concept for gold, as we see global monetary turbulence, uncertainty and substantial changes to the status quo we have had for nearly a decade. Full Story
Gold surged over 5% – from $1,270/oz to $1,335/oz prior to profit taking Gold jumped to its highest level in six weeks on early reports that Trump had won the race to the White House; Largest gains since Brexit shock For the next few days, we can expect to follow the “Brexit playbook” “We are looking at very real prospects that the Fed would defer that rate hike into 2017…” Full Story
By: Chris Mullen, Gold-Seeker.com - 8 November, 2016
Gold gained $6.78 to $1288.28 at about 10:30AM EST before it fell back to $1273.02 in the next 90 minutes of trade and then chopped back higher into the close, but it still ended with a loss of 0.46%. Silver rose to as high as $18.641 before it also fell back off, but it still ended with a gain of 0.66%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 November, 2016
Global financial markets are on hold until we hear the results of the U.S. Presidential results tomorrow. As we saw earlier in the last week, when Mrs. Clinton looked to be in trouble with the FBI, gold rose, discounting a Trump victory, but when exonerated, the gold price pulled back as a Clinton victory was discounted. At current levels a Clinton victory remains discounted in all world markets. Full Story
Polls suggest Clinton to win but as with Brexit is chance of surprise PredictWise gives Clinton an 89% chance of becoming President-elect, giving just Trump just an 11% chance. Gold price may move about 1.8% to 4% if result is uncertain Demand for gold and silver is up this week by a factor of 25 percent Sales of American Eagle gold coins have climbed 23% Gold to benefit from ‘Punch and Judy’ election Full Story
By: Chris Mullen, Gold-Seeker.com - 7 November, 2016
Gold fell $25.86 to $1278.34 in early afternoon New York trade before it bounced back higher in the last four hours of trade, but it still ended with a loss of 1.74%. Silver slipped to as low as $18.012 and ended with a loss of 0.92%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 November, 2016
We see the price changes after Shanghai’s close as being dealers marking prices down without much physical dealing going on. The strength of the dollar today before London opened was seen as the reason gold prices were lowered. And the strong dollar was attributed to the conclusion that Mrs. Clinton is going to be the next U.S. President. In two days time we should know! Of course, if Trump wins, the action last Friday confirms that the gold price will sprint higher taking silver with it. Full Story
This year’s election breaks the mould in a number of important ways Markets seem to be agnostic as to which party is in control of the White House. However, likely that uncertainty will drive markets for time-being Polls might be victim to ‘the Bradley effect’ Hillary is seen as lower-risk and less volatile than the Republican. Full Story
Breaking of key technical resistances is very important this week for gold and silver. I am not overtly concerned at who wins. Volatility will be there. But rise for gold and silver will be there only if they break and trade over key resistances at $1323.20 and $1934. Some traders and investors are thinking too much on the outcome of the US president election on their investment. They are trying to determine the impact of every small news and irrelevant news on their investment and worrying too much. Full Story
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