Gold fell $17.40 to $1268.00 at about 7AM EST, but it then rallied back higher throughout most of the rest of trade and ended with a loss of just 0.07%. Silver slipped to as low as $19.64 before it also rallied back higher, but it still ended with a loss of 1.44%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 July, 2013
New York closed on Tuesday at $1,285.40 up $34.30. This morning in Asia pulled back to $1,280 then as London started it slipped back to $1,275 and was Fixed at $1,275.00 down $5.75 on yesterday’s Fix and in the euro at €976.787, down €5.0 showing gold yesterday moved down in both currencies as the dollar recovered. Ahead of New York’s opening gold was trading at $1,276.95 and in the euro at €978.81. Full Story
BOTH SILVER and gold slipped in London on Friday morning, edging down to $1271 per ounce and $19.80 respectively. European equities pushed higher while the US Dollar rallied and major government bond prices rose. Full Story
Gold is marginally lower today, but is up 3.8% this week and on track for its biggest weekly gain since October 2011. There has been a realisation that ultra loose monetary policies are set to continue reigniting bullion's appeal as an important diversification. Full Story
Gold climbed to as high as $1298.38 at about 2AM EST before it fell back to $1278.36 in late morning New York trade, but it then bounced back higher in afternoon trade and ended with a gain of 2.74%. Silver surged to as high as $20.278 and ended with a gain of 5.38%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 July, 2013
New York closed on Tuesday at $1,251.10 up nearly $3. This morning in Asia it lifted to over $1,290 but as London started its day it was pulled back to $1,287 and then Fixed at $1,280.75 up $27.75 on yesterday’s Fix and in the euro at €981.87 up €4.0 showing gold yesterday moved with the euro again as the dollar fell. Ahead of New York’s opening gold was trading at $1,282.85 and in the euro at €982.42. Full Story
WHOLESALE prices for gold retreated from an overnight surge to nearly $1300 per ounce in London trade Thursday morning, while world stock markets ticked higher with major government bonds and commodities. Gold's earlier 4.0% jump came after Federal Reserve chairman Ben Bernanke confirmed that the US central bank will maintain its "highly accommodative monetary policy for the foreseeable future [because it] is what's needed." Full Story
Gold surged 3.3% or nearly $50 from $1,248/oz to $1,298/oz after Federal Reserve Chairman Ben Bernanke admitted that the U.S. economy continues to need a highly accommodative monetary policy and will do for the “foreseeable future”. Gold climbed for a fourth day to the highest level in more than two weeks due to safe haven buying after Bernanke also admitted, what many more realistic analysts have been saying for some time, that the 7.6% unemployment rate probably "overstates the health of the labor market." Full Story
The Federal Reserve will not be in a hurry to raise short-term interest rates, even after the unemployment rate comes down markedly said Ben Bernanke. This is highly bullish for all commodities. Gold, silver and copper will see some more short covering and can result in some big gains. The comments by the Federal Reserve chairman implies that tapering may not happen in September and could be postponed to December. Full Story
Gold climbed $13.05 to $1261.45 in late morning New York trade before it fell back to $1247.80 in early afternoon trade and then rose to as high as $1265.30 following the release of today’s fed minutes, but it then fell back off again into the close and the yellow metal ended with a gain of just 0.22%. Silver slipped to as low as $19.087 and ended with a loss of 0.36%. Full Story
WHOLESALE prices for gold rose 1.1% in Asian and London trade Wednesday morning, nearing yesterday's 1-week highs at $1260 per ounce as the rate for leasing and borrowing gold rose further. Silver prices rose 1.8% from an overnight low at $19.05 per ounce. Equity markets slipped while commodities rose with major government bond prices, nudging 10-year US Treasury yields further back from Monday's 2.73% – their highest level since August 2011. Full Story
Gold is little changed near a one-week high, and is marginally higher in dollars as the dollar has retreated from a three-year high, and higher in most currencies. The gold market continues to digest the ramifications of gold borrowing costs surging to the highest since the post-Lehman Brothers scramble for gold bullion. Full Story
By: Peter Spina & Simon Russell, GoldSeek.com - 9 July, 2013
Seabridge Gold has one of the world’s largest portfolios of gold, copper, and silver resources and reserves at their two main projects in Canada. The company has a lot of metal in the ground and a very tight share structure. Current market conditions have discounted their Proven and Probable Reserve to around $9 per ounce, which is relatively inexpensive considering their low political risk, attractive projected economics and additional geological potential. Full Story
Gold climbed $23.70 to $1260.20 in Asia before it fell back off in London and New York to as low as $1241.90 at about 2:20PM EST, but it then rallied back higher in the next hour of trade and ended with a gain of 0.96%. Silver rose to $19.506 before it fell back to $19.066 in London, but it then bounced back higher in New York and ended with a gain of 0.84%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 July, 2013
New York closed on Monday at $1,236.50 up $15. This morning in Asia it lifted to $1,256 but London pulled it down to Fix it at $1,252 up $26.50 on yesterday’s Fix and in the euro at €972.578 up €54.216 showing gold moving independently of the euro. Ahead of New York’s opening gold was trading at $1,249.35 and in the euro at €971.05. Full Story
The PRICE of gold slipped from 1-week highs at $1260 per ounce lunchtime Tuesday in London, as European stock markets cut earlier gains and commodity prices held flat. Fresh gold investing demand in Asia was strong overnight, according to dealers. Full Story
Gold is over 1% higher in all currencies today. The gains are being attributed to data which showed that China’s inflation accelerated more than estimated in June, boosting demand for the precious metal as a hedge against inflation, in what will become the world’s largest buyer of gold this year. Full Story
The federal minutes of June’s meeting to be released tomorrow will be the key. Any hints that there are dissenting members on the tapering issue will result in gains for the Indian rupee and emerging market currencies, gains for gold, silver and other precious metals and weakness for the US dollar. Full Story
Gold edged down to $1218.40 in Asia, but it then rose to as high as $1238.39 in New York and ended with a gain of 1.21%. Silver surged to as high as $19.299 and ended with a gain of 1.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 July, 2013
New York closed on Friday at $1,221.70. This morning in Asia it began to slip again but as London opened the gold price lifted over $1,226.30.London came in to Fix it at $1,225.50 down $7.25 on yesterday’s Fix and in the euro at €954.216 down €3.20, reflecting the ongoing weakness of the euro. Ahead of New York’s opening gold was trading at $1,234.50 and in the euro at €961.04. Full Story
The GOLD PRICE ticked higher in London trade Monday morning, rising from its lowest weekly close in three years as Asian stock markets fell but Eurozone shares jumped over 2% higher. Major government bonds ticked higher, easing interest rates down, while the US Dollar held steady after last week's strong gains on the currency market. Full Story
The sharp rise in June US nonfarm payrolls along with an upward revision in April and June numbers implies that tapering by the Federal Reserve will begin from September. The USA will attract lot of short term hot flows from all across the globe. Bond yields in USA are expected to rise, equity markets will rise, there will be a very sharp increase in service sector hiring for the rest of the year and a continued rise in US consumer sentiment and US business sentiment. Full Story
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