Silver has had a rough year, slumping to major new secular lows. After sliding on balance for years now, even the diehard silver bulls are losing faith in their metal. But despite its vexing slumber, silver’s price-appreciation potential from today’s levels remains enormous. Between radical underinvestment and very-high speculator silver-futures shorting, silver is poised to see massive buying as gold recovers. Full Story
The S&P 500 Index had its worst August since 2001, while the Dow’s 6.6 percent drop was its biggest since declining 15 percent in August 1998. Most investors consider the September-October period to be the witching months for equities, but the past month was a painful reminder to many of them just how bad August can sometimes be. Full Story
Concerns that next crisis may be imminent Bail-ins, withdrawal limits and negative interest rates may be imposed FT proposes a ban on “barbarous relic” cash Central banks would have people “completely under their control” – Bonner Gold in safe jurisdictions will again protect wealth Full Story
As the summer comes to an end, investors return to their offices and trading volumes tend to pick up after Labor Day. I expect that many are realizing the markets have considerably changed since May. Global equity markets are all off led by the price decline in the S&P 500 which has broken its four year uptrend forming a technically bearish death cross. The name of the game right now is capital preservation and plunge protection. Look for rallies in equities such as the Dow to be short lived. Full Story
Summing up, the precious metals sector declined as expected, but it seems that the real decline is only beginning and that our profits from the short position will be much higher before the decline is over. We just saw 2 additional reasons for metals and miners to move lower: the verification of the breakdown in gold and a sell signal from the Stochastic indicator, and both of them have quite strong bearish implications. Even if we see a small corrective rally shortly, it will likely not change the main medium-term trend, which remains down. Full Story
China’s Shanghai Gold Exchange said it will allow physical gold to be used as collateral on futures contracts from September 29, according to a statement posted on its website this morning as reported by Reuters. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 10 September, 2015
It is time to regain perspective on the global economy and global monetary system when assessing gold. The global economy is weak with the exception of the U.S. where the recovery is moderate. Can the U.S. resist the expected turmoil and further downturn in the global economy in its economy and financial markets? This is the big question. Full Story
Inability to rise resulted in fall in gold prices. Now gold desperately needs to trade over $1080 to prevent another sell off. Asian demand has to rise and Asian premiums has to start picking up for gold to prevent a fall below $1080. Asian gold prices will not fall by much due to a weaker currency. Firmness in industrial metals saved silver from another big crash. Full Story
UK households are sitting on a £173 billion debt time bomb after once again being lured into a spending splurge by banks and credit card companies. Full Story
Copper zoomed yesterday. Industrial metals can rise five percent in the short term if they are able to trade over current prices. Silver will benefit from the rise in industrial metals. Apart from the FOMC meet, Indian gold demand could be slightly below expectations. Urban gold demand could fall if the Indian stock market continues to fall and the rupee weakens further. Rural demand is already under pressure as near drought conditions exist in most parts of India. Full Story
By: Chris Mullen, Gold-Seeker.com - 8 September, 2015
Gold waffled near unchanged in holiday-thinned trade yesterday before it rose to as high as $1126.65 in late morning New York trade today and then fell back off into the close, but it still ended with a gain of 0.04%. Silver rose to as high as $14.901 and ended with a gain of 1.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 September, 2015
On Monday New York was closed. Gold finished in London at $1,120 and the euro at $1.1200. This morning the dollar index started the day at 96.11. The LBMA gold price was set at $1,120.85 down 15 cents from Monday. The euro equivalent was €1,004.75 up 54 cents. Ahead of New York’s opening gold was trading at $1,120.00 and in the euro at €1,003.90. Full Story
Given the strong demand fundamentals, particularly out of China, gold should go higher but as ever there is a risk of selling in the futures market leading to weakness in the short term as traders follow momentum and ignore fundamentals. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 September, 2015
On Friday New York closed at $1,122.10 down $3.30. The dollar was weaker at $1.1162 down from $1.1142 at the close, against the euro, with the dollar Index slightly weaker at 96.28 down from 96.34. The LBMA gold price was set at $1,121.00 down $4.00 from Friday. The euro equivalent was €1,004.21 down €5.80. At 12.00 hrs London time, gold was trading at $1,121.00 and in the euro at €1,005.52. Full Story
‘Death of Money’ author Jim Rickards recommended a 10% allocation to physical gold when interviewed by the ‘Money Honey’ Maria Bartiromo on Fox Business last week. In a very interesting interview which also included Barron’s Editor Jack Otter and FBN’s Dagen McDowell, Rickards said that gold is like “fire insurance on your house” … Full Story
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