By: Chris Mullen, Gold Seeker Report - 13 October, 2017
Gold saw modest gains in Asia before it fell back to $1290.70 in London, but it then jumped up to $1302.50 after the release of economic data in New York and ended with a gain of 0.8%. Silver rose to as high as $17.393 and ended with a gain of 0.99%. Full Story
– US Mint gold coin sales and VIX at weakest in a decade – Very low gold coin sales and VIX signal volatility coming – Gold rises 1.7% this week after China’s Golden Week; pattern of higher prices after Golden Week – U.S. Mint sales do not provide the full picture of robust global gold demand – Perth Mint gold sales double in September reflecting increased gold demand in both Asia and Europe Full Story
The focus is on Bitcoin as it edged past $5000 and shows no sign of correction. Gold and silver are firm. It is just a technical trade. No one is taking seriously US economic data releases due to hurricane impact. Focus will shift to Japanese elections on 22nd October, Chinese communist party meet and demand. Short term traders are investing into Bitcoin and other forms of crypto currencies. Gold and silver will not attract short term hot money. Most of the investors in gold and silver are medium term to long term. The rally in gold and silver is on solid fundamentals. Full Story
By: Chris Mullen, Gold Seeker Report - 12 October, 2017
Gold gained $4.40 to $1297.40 in Asia before it fell back to $1289.90 in late morning New York trade, but it then bounced back higher into the close and ended with a gain of 0.02%. Silver rose to as high as $17.257 and ended with a gain of 0.06%. Full Story
Government bond prices across the developed world are at all-time highs. Bond prices have been increasing consistently since the 1980s, with a series of global shocks driving that move. Total central bank assets across the developed world now stand at over $14 trillion, having increased by about $10 trillion since the recession … This is genuinely uncharted territory: here be dragons! Full Story
Gold and silver rose as the FOMC did not say anything new on the economy or interest rate cycle. Low inflation could derail the Federal Reserve interest rate cycle. Physical gold and silver demand will be on the higher side in Asia as well as Europe if prices rise today. I also expect short positions to get converted into long positions if gold and silver rise. There are all of the ingredients for a new gold rally... Full Story
By: Chris Mullen, Gold Seeker Report - 11 October, 2017
Gold gained $2.80 to $1291.10 at about 9AM EST before it fell back to $1284.70 in early afternoon trade, but it then jumped back higher into the close and ended with a gain of 0.36%. Silver rose to as high as $17.23 and ended with a gain of 0.58%. Full Story
– Young Guns of Gold Podcast – ‘The Everything Bubble’ – Precious Metal Roundtable discuss gold in 2017 and outlook – Gold +9.1% year to date; Performing well given Fed raising rates, lack of volatility and surge in stock markets – “People are expecting too much from gold” – Economy: Inflation indicators, recession on the horizon, global debt issues Full Story
Political developments from every nook and corner of earth make me believe that I should increase my contingency fund and also increase the allocation to physical gold. Short term corrections (if any) are a part and parcel of a long term bull rally. The pace of rise of gold and silver will be slow till the end of next year. Gold and silver are not for make a quick buck and vanish. Hit or miss traders should trade in bitcoins and not in gold or silver. Full Story
By: Chris Mullen, Gold Seeker Report - 10 October, 2017
Gold gained $9.40 to $1294.20 in late morning New York trade before it fell back off into the close, but it still ended with a gain of 0.27%. Silver rose to as high as $17.245 and ended with a gain of 0.88%. Full Story
– London house prices fall in September: first time in eight years – High-end London property fell by 3.2% in year – House sales down by over a very large one-third – Global Real Estate Bubble Index – see table – Brexit, rising inflation and political uncertainty causing many buyers to back away from market Full Story
Lack of news will imply a technical trade. Gold investment demand has been steadily increasing in Germany. Asian demand will be the key to gold prices. Asian demand for gold will be high only if prices remain firm. Buyers will vanish if there is any hint that gold prices will move into a short term bearish phase. Full Story
By: Chris Mullen, Gold Seeker Report - 9 October, 2017
Gold gained $10 to $1284.90 in Asia before it edged back to $1279.60 in midmorning New York trade, but it then climbed to a new session high at $1285.20 in the last minutes of the day and ended with a gain of 0.78%. Silver rose to as high as $16.986 and ended with a gain of 1.07%. Full Story
– Perth Mint gold coins see sales double on month in September – Perth Mint silver bullion coin sales surge 78% in September – Perth Mint sold 46,415 ounces of gold in September – Nearly six times more gold coins sold at Perth Mint than U.S. Mint in September – Sales surge at Perth Mint from low base; could indicate trend change and higher demand in coming months Full Story
North Korean tensions are once again to the fore. I always believe that natural calamity are short term pains but long term gains for any nation. Reconstruction and relief efforts create more jobs for the low skilled workers than under normal days. Storms and hurricanes in the nation surrounding the Gulf of Mexico will create more jobs than before. At the end of the day low skilled job creation is something which every nation lacks. Nature will do its job in America more than its politicians. Demand for industrial metals always rises after a natural calamity in any part of earth. Full Story
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