By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 April, 2013
Gold closed in New York at $1,561.00 yesterday. The gold price was Fixed in London at $1,548.00 and in the euro at €1,186.293, while the euro was at €1: $1.3049. Ahead of New York’s opening it traded at $1,548.80 and in the euro at €1,186.05. Full Story
U.S. DOLLAR gold prices fell below $1550 an ounce Friday morning, though they remained above last week's low, as stocks and commodities also fell and the Dollar strengthened, with Eurozone finance ministers set to discuss Cyprus, Ireland and Portugal today. Full Story
Gold is down by 2.2% in dollar terms for the week after denied reports regarding Cyprus being forced by the EU and ECB to sell meagre gold reserves contributed to already weak sentiment. The fact that gold sales limitations are stipulated by the ECB Gold Agreement (CBGA) was ignored by some less informed analysts. This and events in Cyprus shows how the ECB values gold and will not allow gold reserves to flow out of the EU. Full Story
Silver has not fallen as much as copper as prices firm. Silver prices will fall in a big way if and only if copper falls. Since copper is fundamentally bullish, even if gold prices fall, the pace of a silver price fall (if any) will be very slow. Indian jewelers will stock up for the weekend demand which is expected to be very huge all over India. As long as the US dollar weakens the pace of the decline of gold, silver and other commodities will be reduced. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 April, 2013
Gold dropped $3.90 to $1554.60 at about 5AM EST, but it then rose to as high as $1568.19 in New York and ended with a gain of 0.16%. Silver climbed to as high as $27.842 and ended with a gain of 0.07%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 April, 2013
Gold closed in New York at $1,558.70 down $26.20 on yesterday. The gold price was Fixed in London at $1,555.75 and in the euro at €1,189.593, while the euro was at €1: $1.3078. Ahead of New York’s opening it traded at $1,559.15 and in the euro at €1,187.15. Full Story
The WHOLESALE PRICE of gold rallied from 1-week lows against the Dollar on Thursday morning, but continued to fall for UK and Euro investors, hitting 4- and 2-month lows respectively. World stock markets continued to rise, while major government bonds slipped, commodities held flat, and silver bullion rose back above $27.50 per ounce. Full Story
News of Cyprus’ planned sale likely did not contribute to gold's weakness yesterday. The amount of gold is trifling both in dollar or euro terms versus the scale of debts in Cyprus and the wider Eurozone and in terms of tonnage. At just 13.9 tonnes the Cyprus gold reserves is equal to one week's gold demand from Chinese people. Full Story
By: Manan Somani, Insignia Consultants - 11 April, 2013
Gold and silver fell yesterday after the division among Federal Reserve committee members over the current stance of quantitative easing. This suggests that if incoming US economic numbers show stability then there will be squeezing on quantitative easing (QE). It is also the reason for US dollar gains. Gold jewelry demand from India will rise in a big way from today and it remains to be seen whether Indian demand will prevent gold prices from a fall. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 April, 2013
Gold edged up to $1588.47 in Asia, but it then fell to as low as $1557.00 in New York and ended with a loss of 1.65%. Silver slumped to as low as $27.508 and ended with a loss of 1.29%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 April, 2013
Gold closed in New York at $1,584.70 up $12.20 on yesterday. In Asia and London it traded slightly higher at $1,586.80 ahead of the Fix in London which was set at $1,581.50 up $9 and in the euro at €1,207.160 up just €2, while the euro was at €1: $1.3101 cents. Ahead of New York’s opening it traded at $1,578.45 and in the euro at €1,206.30. Full Story
AFTER touching a one-week high yesterday, gold drifted lower Wednesday, ending London's morning trading around $1580 an ounce, more-or-less where it started the week, while stocks gained and government bond prices fell. Full Story
Soros’ yen “avalanche” would appear to have begun with the yen having fallen by 9.5% against gold in 5 trading days since last Thursday leading to record nominal highs in the yen at over 0.1577 million yen per ounce this morning. Full Story
By: Manan Somani, Insignia Consultants - 10 April, 2013
My friend Clementine Wallop, a reporter from dowjones newswires has mailed me a story from dowjones newswires which tells that there is a huge rush in Japan to sell gold jewelry as prices have risen on a weaker currency. Indians sold gold last year as prices reached an all time high of 32000 also due to a weaker currency. However India will be on a buying spree as gold prices in India have fallen nearly nine percent from the high’s. Full Story
Gold edged up to $1577.20 in Asia before it fell back to $1570.60 by a little before 8AM EST, but it then soared to as high as $1590.34 in the next four hours of trade and ended with a gain of 0.78%. Silver surged to as high as $28.067 and ended with a gain of 2.68%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 April, 2013
Gold closed in New York at $1,572.50 down $6.50 on yesterday. In Asia and London it traded slightly higher at $1,575 ahead of the Fix in London which was set at $1,572.50 down nearly $5 and in the euro at €1,205.258 down nearly €7, while the euro was at €1: $1.3047 cents. Ahead of New York’s opening it traded at $1,574.90 and in the euro at €1,206.31. Full Story
The PRICE of GOLD and silver was little changed Tuesday morning near last week's finish, while European stock markets rose but Japan's Nikkei stalled its 5-day surge as the Yen bounced higher from 4-year lows on the currency market. Full Story
The confiscation of individuals and companies savings by the Troika (EU, ECB and IMF) in Cyprus shows how there is a risk of confiscation of all assets - from deposits to pensions funds to stored gold. This is something we have long warned of and we have consistently said that if confiscation takes place it will be of large stores of pooled gold, ETF custodial and unallocated gold in the banking system and large holdings of gold stored with companies and in countries that are massively indebted. Full Story
Gold fell $11.80 to as low as $1567.20 by late morning in New York before it bounced back higher in early afternoon trade, but it still ended with a loss of 0.41%. Silver slipped to as low as $27.12 and ended with a loss of 0.22%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 April, 2013
Gold closed in New York at $1,579 up nearly $26 on Friday. In Asia and London it traded slightly lower at $1,576.5 ahead of the Fix in London which was set at $1,577.25 and in the euro at €1,212.803 while the euro was at €1: $1.3005 cents. Ahead of New York’s opening it traded at $1,578.70 and in the euro at €1,211.96. Full Story
The GOLD PRICE ticked lower against the US Dollar early Monday, but held onto the bulk of Friday's sharp rally at $1577 per ounce as world stock markets rose alongside commodities. Silver bullion traded at $27.30 per ounce, some 2.5% above last week's 9-month low, while both Sterling and the Euro extended their gains versus the US currency, pushing the gold price below £1030 and €1215 per ounce respectively. Full Story
Gold futures in Tokyo jumped almost 5% to near all time nominal highs, marking their sharpest daily rise since September 2011, after the yen dropped to near four-year lows on reports that the Bank of Japan would begin buying longer-dated bonds immediately and due to concerns about a currency crisis in Japan after George Soros warned of a potential “avalanche” of yen selling. Full Story
By: Manan Somani, Insignia Consultants - 8 April, 2013
Have the gold and silver bears been laid to rest. This is something which I have been asked over the weekend. In my view yes, if this week gold and silver break $1596 and $2803 then bears will be seen nowhere. However the fall in US employment is due to cyclical factors and that we should see another big hiring number in the month of May. Till next nonfarm payrolls are released gold and silver will trade firm with limited downside risk (subject to holding of technical support of $1519 and $2590). Full Story
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