By: Chris Mullen, Gold Seeker Report - 12 October, 2018
Gold dipped $6.80 to $1215.90 in Asia before it climbed up to $1223.30 in London and then drifted back lower in morning New York trade, but it ended with a loss of just 0.38%. Silver chopped between $14.525 and $14.702 and ended with a gain of 0.41%. Full Story
Gold is 1.3% higher for the week as of mid-morning European trading today. It needs to close positively this week in order to confirm a possible trend change. A lower close this week, despite the significant volatility, would be bearish in the short term and suggest that gold needs a period of further consolidation before the bull market can resume in earnest. Full Story
By: Chris Mullen, Gold Seeker Report - 11 October, 2018
Gold held near unchanged for most of the day in Asia, but it then began a steady advance in London, accelerated higher in New York, and ended near its late session high of $1226.10 with a gain of 2.48%. Silver surged to as high as $14.621 and ended with a gain of 1.75%. Full Story
– Gold gains 2.5% as stock markets fall globally – EuroStoxx -2%, FTSE -1.9%, Nikkei -4%, Shanghai -5.3% – Gold, silver outperform all assets in stock market rout – Trump accuses Fed of going “crazy” by continuing to raise rates – Huge spike in VIX and volatility on deepening concerns of market correction or crash Full Story
By: Chris Mullen, Gold Seeker Report - 10 October, 2018
Gold dipped $4.60 to $1185.50 at about 8:30AM EST, but it then rallied back higher for most of the rest of trade and ended near its last-minute high of $1193.60 with a gain of 0.25%. Silver dipped to $14.247 before it also bounced back into the close, but it still ended with a loss of 0.69%. Full Story
Today’s situation reminds me of the fall 2000 which was a very difficult time for me as a contrarian investor. The internet bubble had broken in March when the Nasdaq peaked at 5132 and all those crazy valued dotcom stocks had crashed. In the three weeks after the Nasdaq had peaked it looked like the whole stock market had broken. But it hadn’t because investors rotated into what they perceived to be safer big cap tech names. Full Story
By: Chris Mullen, Gold Seeker Report - 9 October, 2018
Gold edged up to $1191.80 in Asia before it dropped back to $1183.50 at about 9:45AM EST, but it then chopped back higher into the close and ended with a gain of 0.1%. Silver sloshed between $14.436 and $14.269 and ended with a gain of 0.07%. Full Story
Trump wants to call China a currency manipulator. The fall in the yuan reflects growth concerns and nothing else. Currency should reflect fundamentals. Currency prices moves are based on fundamentals. The USA has the strongest economy which is why the US dollar is strong. Asian currencies are weak as a higher energy bill wreaks havoc on a nations balance sheet and also affects voter base. Full Story
By: Chris Mullen, Gold Seeker Report - 8 October, 2018
Gold fell $19.40 to $1183.70 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 1.18%. Silver slipped to as low as $14.269 and ended with a loss of 1.64%. Full Story
– A compendium of some of the most compelling charts and important conclusions of In Gold We Trust 2018 – Recession risk, de-dollarization, general macro-topics and of course gold – Risk/reward-profile for gold is very good after capitulation selling and CoT report show the best setup in 17 years Full Story
A slowdown in china can result in losses for industrial metals and gains for gold. Gold will be the safe haven in China. The Chinese cutting the reserve ratio of banks is an indication that a slowdown is in the offing. Industrial metals are bullish in the long term on supply issues. Indian gold prices are at a record high. Indian gold demand from tomorrow will be way below expectation during the nine day very auspicious navratra period which begins from tomorrow. Full Story
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