By: Chris Mullen, Gold-Seeker.com - 13 November, 2015
Gold edged up to $1088.30 in London before it dropped back to $1080.62 in early New York trade and then bounced back higher at times, but it still ended with a loss of 0.24%. Silver slipped to as low as $14.198 ended with a loss of 0.56%. Full Story
Gold will likely bottom even before the Fed announces its interest rate policy decision on December 15/ 16. If there is a rate hike gold might see one last bout of weakness. Although that should be shallow and short given the scale of losses in last three weeks. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 13 November, 2015
The Gold price is at a critical juncture at just above $1,180. This is now a near perfect double bottom, but today is the busiest day for gold in the week. For the superstitious it is also Black Friday [13th]. Overnight the dollar, currencies and the gold price were relatively stable. Yesterday, saw the gold price fall to $1,176 at one point before leaping up to $1,189, before falling back to finish, as we showed above. So the question is, “Is this a bottom for gold or will the $1,180 level be ignored and the falls continue.” Full Story
By: Chris Mullen, Gold-Seeker.com - 12 November, 2015
Gold fell $10.38 to $1074.32 by a little after 9AM EST before it jumped back up to $1089.53 in the next hour of trade and then fell back off again into midday, but it then climbed back higher again into the close and ended with a loss of just 0.01%. Silver surged to as high as $14.499 before it dropped back $14.212, but it still ended with a gain of 0.07%. Full Story
Gold Demand Trends Q3 2015 was released by the World Gold Council today. The quarterly publication is the leading industry resource for data and opinion on global gold demand and examines demand trends by sector as well as geography. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 12 November, 2015
The currency markets, the dollar and the gold price stabilized with a weaker bias, again today. Again, the dollar has not broken through the 100 level on the dollar Index. With the Eurozone contemplating negative interests rates down as far as 0.75% [like Denmark and Sweden] we believe that the Treasury and the E.C.B. have or will agree that such stimuli not be permitted to weaken the euro. That is, if the dollar Index rises above 100, convincingly. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 November, 2015
Gold edged up to $1093.63 in Asia, but it then drifted back lower in London and New York and ended with a loss of 0.34%. Silver slipped to as low as $14.27 and ended with a loss of 0.83%. Full Story
I’d love to tell you that $1,080 is the low – that this is the mother of all buying opportunities, that you should all max out your credit cards and buy every flake you can possibly get your hands on.
But gold-lover though I may be, that is not what I see next. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 11 November, 2015
Of a more direct importance to the gold price is the progress the growth of the Chinese middle classes is making. One indicator is the “Singles Day” internet shopping spree just ending. It has well surpassed the record set last year of over $5 billion sales in the day. This can be directly related to the expanding middle classes there, a key objective of the government. Confirming this, retail sales continue to grow fast with a present growth rate of 11%. It is from this quarter that gold demand emanates. Hence, the burgeoning Chinese gold demand will continue for the foreseeable future. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 November, 2015
Gold edged up to $1094.64 in London before it dropped back to $1086.21 at about 9:30AM EST and then bounced back higher into midday, but it still ended with a loss of 0.25%. Silver slipped to as low as $14.318 and ended with a loss of 0.96%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 November, 2015
New York closed at $1,091.10 a rise of $3.10 up from $1,088.00 yesterday. In Asia it rose to $1,093.00 before London opened. The LBMA price setting fixed it at $1,092.50 down $3.10 over yesterday. The dollar Index paused yesterday at 98.99 at the close of New York on Monday. The dollar was slightly weaker at $1.0755 down from $1.0768 against the euro. In the euro the fixing was €1,018.89 up from €1,016.33. Ahead of New York’s opening gold was trading in the dollar at $1,093.00 and in the euro at €1,019.35. Full Story
One of America’s largest companies is preparing for problems in the banking and financial system and another financial crisis. Online retail giant Overstock.com (OSTK), publicly stated that the company has stockpiled gold and silver coins in preparation for another U.S. financial crisis. Patrick Byrne, its founder and chief executive, is a libertarian who champions crypto currencies, bitcoin and gold and silver bullion as financial insurance against risk in the financial and monetary system. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 November, 2015
Gold climbed $7.39 to $1095.39 in London before it fell back to almost unchanged by late morning in New York, but it then edged back higher in afternoon trade and ended with a gain of 0.28%. Silver fell back to $14.445 before it also bounced back higher, but it still ended with a loss of 1.22%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 November, 2015
New York closed at $1,088.00 down from $1,103.50 Friday. In Asia it rose to $1,095.00 before London opened. The LBMA price setting fixed it at $1,095.60 down from Friday’s $1,107.70. The dollar Index was stronger today and rose to 99 up from 98.01 at the close of New York on Friday. The dollar was a cent stronger at $1.0768, up from $1.0879 against the euro. In the euro the fixing was €1,016.33 down from €1,018.29. Ahead of New York’s opening gold was trading in the dollar at $1,093.00 and in the euro at €1,013.91. Full Story
China’s central bank likely added another 14 tonnes of gold to its reserves in October as the People’s Bank of China (PBOC) continues to allocate to gold bullion as part of a plan to diversify its massive $3.53 trillion in foreign-exchange reserves and position the yuan as a global trading and reserve currency. Full Story
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