By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 May, 2017
Demand for gold at the Akshaya Tritiya festival at the end of April was stronger than has been seen in the past confirming the problems with shortages of cash have dissipated. It is clear that Indian demand for gold is, once again, robust. Estimates for this year’s demand [because of positive forecasts for the monsoon as well] have gone as high as 1,000 tonnes. That’s official demand, excluding smuggled gold. Full Story
– Gold market size – Gold mine production “peaked in 2015” – South African production collapse from 1,000 tonnes – South African gold was flown to London and Zurich and an airliner had its own designated landing areas at Heathrow where gold moved directly from the place to secure vaults – It may still do – that is shrouded in secrecy! – Political concerns in France in 1968 saw massive demand Full Story
Gold gained $4.80 to $1224.10 in London before it fell back to almost unchanged at about 9AM EST, but it then rose to a new session high of $1227.50 in late morning trade and ended with a gain of 0.39%. Silver rose to as high as $16.388 and ended with a gain of 0.62%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 May, 2017
We are seeing the influence of falling gold prices in Shanghai on New York and London, as we commented above, but New York prices are holding on despite no gold ETF demand. This demand has been responsible for U.S. gold prices rising. Until we see the strong move, we expect [either way], we cannot clearly see the way forward. We are at one of those junctures we call a ‘point of resolution’. Full Story
Matter-a-fact, I have heard from several sources, that many precious metals investors in the U.S. are selling gold into the market. This has to be one of the STUPIDEST things to do. Of course, if a person needs to sell gold to purchase something or pay bills… that is understandable. But, to sell gold because of low market sentiment, goes against all sound reasoning and logic to own gold. People need to realize the U.S. and global financial and economic system are in the BIGGEST BUBBLE in history. Full Story
Gold chopped up to $1225.60 in London, but it then drifted back lower in New York and ended near its late session low of $1217.60 with a loss of 0.04%. Silver rose to as high as $16.339 and ended with a gain of 0.43%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 May, 2017
Today is one of those days when we can see just where pricing power lies. New York has tried to pull prices back well below support, hitting $1,216 at one point. Shanghai took prices higher today in their consolidation process, but London moved in line with New York last night. How New York and London perform today becomes critical. If Shanghai falls, then pricing power sits in London and New York, today. Full Story
The art world and artists have in the main not addressed one of the most important issues of our time – central banks foisting debt on the people and nations of the world and thereby controlling them. An artist who has the knowledge and courage to look at and address the world of money, the dangers of monetary policies today and currency debasement on a scale that the world has never seen before is an Irish artist called Conor Walton. Full Story
Gold fell $12.90 to $1214.30 in midafternoon New York trade, but it then jumped back higher into the close and ended with a loss of just 0.6%. Silver slipped to as low as $16.061 and ended with a loss of 0.8%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 May, 2017
As we have mentioned many times in the past, the falling volatility of the gold market must be attributed to the arrival of Shanghai as one of the three important gold markets. Its move to make speculation costly at the beginning of the year, has flowed through to London, but particularly New York. Arbitrageurs smooth out the price differences between the centers, but even traders can do this. Full Story
Are we near a turning point in silver’s relentless decline? Avert your eyes – this is one ugly silver chart Gold silver ratio at 75 shows real value of silver Mining CEO explains why silver could reach $136.67 Buy silver low, sell high Full Story
By: Chintan Karnani, Insignia Consultants - 9 May, 2017
There is no news at the moment to spruce up gold and silver. World gold council’s demand statistics of the last quarter has not been that great. Central bank demand in the last quarter has been less. I do not think that low central bank demand prevented a gold price rise. Mild fundamental weakness along with no new reasons to invest in gold is causing the temporary weakness. To the gold investors, unless gold breaks and trades over $1500, a big and very quick rise (as I had been expecting) will not be there. Full Story
Gold gained $7.20 to $1236.50 in London before it fell back to $1226.20 in early afternoon New York trade, but it then bounced back higher into the close and ended with a loss of just 0.17%. Silver slipped to as low as $16.24 and ended with a loss of 0.61%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 May, 2017
The Macron victory implies that the E.U. will hold together in the future and that the euro will not collapse. While Italy remains uncertain on the subject, it is not enough to curb the optimism that pervades markets this morning. What is uncertain is the ability of the President, without a political party behind him, to govern effectively. Will he try to rule by government decree? We will have to wait until mid-June and the Parliamentary elections to see if he can establish a majority and govern, or if he will simply become a figurehead. Full Story
– Global gold demand in Q1 2017 was 1,034.5t – Total demand -18% from record high levels in Q1, 2016 – Demand for coins and bars up 9% yoy to 290 t – UK demand for coins, bars at highest since Q2 2013 – ETF inflows fell by 2/3, account for overall -18% fall in demand – European uncertainty brings gold investors to market – Innovation continues to drive gold demand in China – Peak Gold: Mine production likely to drop Full Story
By: Chintan Karnani, Insignia Consultants - 8 May, 2017
It will be a technical trade as there have not been any surprises in the French elections. Key central bank meetings are over. An interest rate hike by the Federal Reserve in its June meeting is more or less a certainty. Fundamental weakness due to lack of expected demand (in gold and silver) is preventing them from zooming. Gold in bitcoin terms is rising. Buyers are looking for a bottom to buy. Full Story
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