By: Chris Mullen, Gold-Seeker.com - 13 January, 2017
Gold edged down to $1192.24 in Asia before it bounced back to $1200.63 in London and then fell to a new session low of $1188.00 in midmorning New York trade, but it then rallied back higher into the close and ended with a gain of 0.24%. Silver rose to as high as $16.838 and ended with a gain of 0.12%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 January, 2017
Shanghai gold prices corrected this morning in Shanghai. While we cannot get access today’s Shanghai’s Fixings, gold was trading down, between $1,191 and $1,196 or back to 263.73 Yuan and 264.83 Yuan. After the gold price rises in Shanghai during this week, a correction was needed to make the market healthy. Full Story
We should indeed ignore the short term noise of the Trump inauguration next week – although it is set to be compelling box office viewing! However, it would be imprudent to ignore the likely impact of four years of the Trump Presidency on markets and particularly the gold market. On Wednesday past, we had just a little taste of this when his press conference led to turmoil and massive volatility in markets and gold rising on safe haven demand to over $1,200 per ounce. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 January, 2017
Gold gained $16.02 to $1206.92 in Asia before it drifted back lower in London and New York, but it still ended with a gain of 0.38%. Silver rose to as high as $16.982 and ended with a gain of 0.3%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 January, 2017
Shanghai continues to lead the way for the gold price. And as happened yesterday London and New York rose too. With Shanghai prices continuing to rise we expect London and New York to rise again too. To catch Shanghai up, prices in New York need to rise another $15. London is now in line with yesterday’s Shanghai gold price. Full Story
Gold prices made further gains today amid reduced focus on the Fed and speculation regarding their potential rate hikes and more focus on the next four years of the Trump Presidency. The dollar declined alongside US Treasury bond yields, although U.S. stock indices were supported yesterday and remained buoyant. Declines in Asian and European bourses today have seen U.S. futures decline this morning and the dollar has seen further losses pushing gold higher in all currencies. Full Story
Trump’s press conference was a damn squib. It was hawkish with no solid information on future policy. This resulted in gold’s rise and a fall in the US dollar. Attack of pharma companies and separation of his business interests and the Mexico wall also did not go down well with traders and investors. There are also issues over US senate clearance of Trumps cabinet. Lack of clarity over key issues has resulted in gold rising. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 January, 2017
Gold edged up to $1191.26 in Asia before it fell back to $1177.25 in midmorning New York trade, but it then jumped to as high as $1198.13 in early afternoon trade and ended with a gain of 0.31%. Silver slipped to $16.534 before it rallied back to $16.86 and then fell back off into the close, but it ended with a loss of just 0.36%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 January, 2017
If Shanghai is leading the way for the gold price, we would expect London and New York to rise too. Consequently, the gold price needs to move to $1,200 for it to be in line with Shanghai now. Shanghai on Tuesday was $13 higher than the close of New York. This morning London opened only $10.59 lower than yesterday’s Shanghai closing. And this strength in gold is happening while the dollar is rising and the Yuan slipping slightly. Full Story
At the time of his death, Prince had taken delivery of and had in his possession 67 gold bars, 10 ounce gold bars, valued at $836,166.70. That’s according to an asset inventory compiled by Bremer Trust released by the Carver County District Court, as first reported by the Minneapolis Star Tribune. The release inventory showed that the “Purple Rain” singer had no stocks, bonds, or other financial assets, but did have a substantial amount of land, property, cash and gold bars. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 January, 2017
Gold gained $5.05 to $1187.55 in Asia before it fell to see a slight loss at $1181.07 in London, but it then jumped to as high as $1190.45 in New York and ended with a gain of 0.4%. Silver rose as high as $16.904 and ended with a gain of 1.33%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 January, 2017
Again New York’s prices are moving up towards Shanghai’s, which continues to rise steadily but solidly. Shanghai on Monday was only $6.50 higher than the close of New York. This morning London opened only $3.50 lower than Shanghai. The weaker dollar is impacting the gold price, to the relief of the People’s Bank of China. Full Story
– Pound fell 2% against gold yesterday after Theresa May created Brexit concerns – May’s ‘Hard Brexit’ denial does not calm markets growing fears – Investors concerned about lack of government strategy and uncertainty – UK Prime Minister bizarrely blames media and “those who print things” for sterling depreciation – GBP gold builds on 31% gain in 2016 with 4% gain so far in 2017 Full Story
The US dollar’s fall is profit taking before Trump’s swearing in which if it continues till Thursday can result in a technical breakdown. Weakness in the US dollar resulted in the rise of gold, silver and industrial metals. Crude oil fell as traders assessed supply side pressures for the rest of the quarter. Natural gas also had a technical knock down. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 January, 2017
Gold gained $12.88 to $1185.88 in early afternoon New York trade before it drifted back lower into the close, but it still ended with a gain of 0.81%. Silver surged to as high as $16.69 and ended with a gain of 0.55%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 January, 2017
London is the developed world’s heart of the physical gold market. New York is the paper market. ‘Paper gold prices’ cannot overrule physical prices. It seems obvious, but it isn’t as COMEX has dominated gold prices [with the support of physical sales into London] for several years. Full Story
We’ll begin by blowing out a few ideas I do not subscribe to. I keep hearing from smart guys that gold is in short supply in the Comex or Shanghai gold exchange, you name it. These stories almost never play out. I am also a huge fan of Rickards and Maloney, but the saying “gold is money” and the notion that its price is actually the movement of the value of the dollar don’t work for me: prices of everything I buy follow the dollar, not gold, on the currency timescales. On long timescales, their assertion may be correct. Someday their assertion may even be correct on short timescales, but that isn’t right now. Full Story
China could try and regulate bitcoins. Chinese are using bitcoins to get over the foreign exchange outflow curbs. Bitcoins are attracting short term speculative interest away from gold and silver. In the long term gold and silver are still a better investment than most commodities. At current prices the long term down side risk is limited to twenty percent with chances of over hundred percent rises over the next two years. To those who intend to invest in gold and silver, one word to caution, the pace of rise and fall over the next two years can cause stomach ulcers. Full Story
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