By: Chris Mullen, Gold-Seeker.com - 11 December, 2015
Gold edged up to $1072.05 in Asia before it dropped back to $1062.52 in London, but it then rose to as high as $1079.45 in New York and ended with a gain of 0.61%. Silver slipped to as low as $13.806 and ended with a loss of 1.13%. Full Story
Bank ‘bail-ins’ and the new international bail-in regime that impose losses on bank investors, bondholders and even depositors may undermine the confidence of small savers in the banking system, a senior Bank of Italy official warned on Wednesday. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 11 December, 2015
The big news of the day is the announcement that the Yuan gold Fix, based on a 1 kilo bar of gold will begin in April. It had been expected by the year’s end but now we have a firm date. It will be based on physical demand and supply, not on futures positioning as on COMEX. Full Story
Momentum is very bearish for all metals and energies commodities. People of India will not get the benefit of lower global energy prices. The government of India imposes some new taxes every time global energy prices stabilize at a lower level. Reduced energy prices leading to lower inflation, higher consumer spending and higher business spending will not happen in India and many other emerging market nations. Nations will high budget deficit instead of controlling their expenses are using lower energy prices to their own benefit instead of passing on to the people. If even half of it is passed on to the people, then global base metals prices and silver prices would have been twenty percent higher. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 December, 2015
The New York gold price closed at $1,072.70 down from $1,074.60 on yesterday’s close. In Asia prices drifted slightly higher to $1,073.25 as the dollar weakened to 97.67 down from 98.40 on the dollar Index. The euro is at $1.0975 up from $1.0935 yesterday against the dollar. The London a.m. LBMA gold price was set at $1,072.00 down from $1,078.40, on Wednesday. In the euro the fixing was €979.00 down from yesterday’s $986.55. Ahead of New York’s opening, the gold price was trading at $1,075.30 and in the euro at €981.74. Full Story
Inability of gold, silver, copper and crude oil to rise despite US dollar weakness is a cause of concern. The next week is very crucial. Investors might lose complete confidence in gold, silver, copper and crude oil in case they fall next Thursday. After the FOMC they need to rise or else they will fall ten percent in the very short term. Yesterday gold, silver and copper saw a mild sell off as they started reversing from intraday highs. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 December, 2015
Gold gained $10.36 to $1084.96 at about 9AM EST before it fell back to $1069.70 in the next couple of hours of trade and then bounced back higher into early afternoon, but it still ended with a loss of 0.18%. Silver rose to as high as $14.353 and ended with a loss of 0.07%. Full Story
“At this moment in time, that we are truly at a level that it is really only the ardent silver bulls and resource investors who truly understand where we are in the market. Not only are we skipping along the lows, perhaps we can go lower, but there is true value here – in all aspects – not only in the gold and silver but also in the natural resource sector as a whole with bargains all over the place”. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 9 December, 2015
The gold and silver prices are following the euro, as we forecast and should continue to do so through the rest of this week until the Fed does what it is going to do. We believe that they will have a surprise in store for us! Full Story
By: Chris Mullen, Gold-Seeker.com - 8 December, 2015
Gold dipped down to $1068.36 by a little after 8AM EST before it bounced back to $1078.39 in the next hour and a half of trade and then chopped back lower at times, but it still ended with a gain of 0.16%. Silver slipped to as low as $14.09 and ended with a loss of 0.84%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 December, 2015
The New York gold price closed at $1,072.90 down from $1,085.20 on Monday, a fall of $12.30. In Asia prices drifted higher to $1,073.70 as the dollar strengthened slightly to 98.58 up from 98.42 on the dollar Index. The euro is at $1.0856 stronger than yesterday’s $1.0818 against the dollar. The London a.m. LBMA gold price was set at $1,071.75 down from $1,082.70 on Monday’s. In the euro the fixing was €986.79 down from Monday’s $1,000.65. Ahead of New York’s opening, the gold price was trading at $1,071.85 and in the euro at €986.79. Full Story
Gold prices continue to be determined by traders and speculators in the futures market as evidenced by the Commitment of Traders (COT) data, showing that hedge funds now have record short positions. This typically occurs close to market bottoms and – along with the supply demand fundamentals – would suggest gold is close to bottoming. Full Story
By: Chris Mullen, Gold-Seeker.com - 7 December, 2015
Gold held near unchanged in Asia, but it then drifted back lower in London and New York and ended with a loss of 1.13%. Silver slipped to as low as $14.251 and ended with a loss of 1.86%. Full Story
The Bank for International Settlements (BIS) has warned in its latest quarterly review that the current ‘uneasy calm’ in financial markets might be short lived, threatened by the Fed’s widely expected interest rate hike – the first rate increase in a decade. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 7 December, 2015
With just over a week to go to the Fed’s announcement on interest rates, the gold and silver markets are likely to move sideways, unless there is a concerted attack on these prices by bears. We don’t think this is likely after the disappointing surprise from the European Central Bank on more stimuli. When the rate rise from the Fed does come, we expect either a 25 basis point rise OR LESS. Full Story
The US retail economy has been strengthened. Next is the turn of reviving US exports. Currency devaluation will play a big role in reviving US exports. I expect a trend reversal for the US dollar in 2016 and expect a big fall. An interest rate hike on the 16th is more or less a done deal. Traders need news to digest. If there is less news on the US economy or US interest rates, the focus will switch to (a) Impact of migrants on the European economy (b) Syria and ISIS. Full Story
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