By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 December, 2013
The gold price in New York fell to $1,226.50 down $36.00 on Thursday then Asia lifted it to $1,229.10 ahead of London’s opening. London took it lower to around $1,223.00 ahead of the Fix, which was set at $1,222.75 down $32.50. In the euro it Fixed at €891.217 down €20.83. Ahead of New York’s opening the euro stood at $1.3724: €1, stronger by nearly half a cent against the euro with gold ahead of the opening in New York at $1,227.65 and in the euro at €894.53. Full Story
LONDON gold in Dollars terms traded flat for the week Friday morning, holding around $1230 per ounce after what one analyst calls "a tumultuous few days." Stockmarkets ticked higher but London's FTSE100 headed for a 1.5% drop on the week. Silver also erased the last of its mid-week gains, which reached 5.0% yesterday morning, to trade back at $19.55 per ounce. Full Story
Gold saw a sharp move lower by over 2% yesterday, despite little market moving data or news and other assets seeing less price movement. The price fall could have been due to heightened speculation of a Fed taper as soon as next week. However, if that was the case, one would have expected stocks to have seen similar price falls. Rather stocks were only marginally lower and remain near record highs. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 December, 2013
Gold fell $28.53 to $1224.37 at about 1:30PM EST before it bounced back higher into the close, but it still ended with a loss of 2.11%. Silver slipped to as low as $19.435 and ended with a loss of 3.89%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 December, 2013
The gold price in New York rose to $1,262.50 up $21.90 on Wednesday then Asia took it lower to $1,256 ahead of London’s opening. London held it around that level ahead of the Fix, which was set at $1,255.25 up $9.50. In the euro it Fixed at €912.047 up nearly €6.00. Ahead of New York’s opening the euro stood at $1.3773: €1 with gold at $1,244.00 and in the euro at €903.22. Full Story
WHOLESALE LONDON gold tumbled more than $20 per ounce in quiet trade Thursday morning, falling with world stock markets after the week's "three-day rally [in gold] prompted some profit-taking" according to one dealing desk. Full Story
Gold has found strong technical support at the $1,200/oz level, which the yellow metal reached earlier this week on speculators short-covering and physical demand in China. Premiums in China have risen this week as Chinese New Year approaches and gold on the Shanghai Gold Exchange (SGE) closed at $1,285.09 (see table above) which was a $30 premium over spot gold. Full Story
The US economic data vacuum will be over with the release of the US November retail sales number. If the numbers disappoint, then gold and silver will see another wave of rise. Copper and base metals seem to have formed a medium term bottom in November and can rise another ten percent in the short term. Crude oil needs to trade over $96.00 on daily closing basis for the rest of December to target $102-$109. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 December, 2013
Gold fell $8.49 to $1254.01 at about 8AM EST before it rebounded to $1262.84 in the next hour and a half of trade, but it then fell to a new session low of $1252.06 in afternoon trade and ended with a loss of 0.76%. Silver slipped to as low as $20.232 and ended with a loss of 0.44%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 December, 2013
The gold price in New York rose to $1,262.50 up $21.90 on Tuesday then Asia took it lower to $1,256 ahead of London’s opening. London held it around that level ahead of the Fix, which was set at $1,255.25 up $9.50. In the euro it Fixed at €912.047 up nearly €6.00. Ahead of New York’s opening the euro stood at $1.3764: €1 with gold at $1,256.15 and in the euro at €912.63. Full Story
ASIAN and London dealing was quiet in gold Wednesday morning, with prices holding $10 per below yesterday's sudden rise to 3-week highs above $1267. Silver also slipped but held onto more of Tuesday's 3.2% gain to $20.45 per ounce. Asian stock markets fell more than 1% meantime, but European shares ticked higher with commodities as major government bonds held flat. Full Story
Gold neared a three week high after climbing the most in 7 weeks, on strong physical buying in China and a weak dollar. Gold has recovered from a 5 month low on December 6 to reach $1,268/oz yesterday, its highest price since November 20. Physical demand, especially from Asia seems to be outweighing the jitters regarding the Federal Reserve's much mooted 'tapering'. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 December, 2013
Gold jumped $26.94 to $1267.54 at about 9:30AM EST before it edged back lower at times, but it still ended with a gain of 1.77%. Silver surged to as high as $20.432 and ended with a gain of 2.67%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 December, 2013
The gold price in New York rose to $1,240.60 up $11.60 on Monday then Asia took it higher to $1,247 ahead of London’s opening. London took it down to $1,229.30 ahead of the Fix, which was set at $1,245.75 up $17.25. In the euro it Fixed at €906.132 up €10.50. Ahead of New York’s opening the euro stood at $1.3750: €1 with gold at $1,247.40 and in the euro at €907.20. Full Story
The PRICE of gold rose to touch $1250 per ounce for the first time in 7 sessions Tuesday morning, as major government bonds also rose after comments from US Fed officials on the odds of reducing their monetary stimulus at next week's policy meeting. Full Story
Gold edged up to a near one week high today as the dollar weakened and technical support held again prompting funds and investors to allocate funds to gold. Given the poor fiscal and monetary state of the U.S., we expect the dollar to weaken in 2014 which should contribute to higher gold prices. Full Story
The rise in gold and silver is more due to short covering before US retail sales numbers and the Federal Reserve meeting which can continue today also. A weaker US dollar against the euro and cable will also prevent big falls in commodity prices. Markets will be trying to gauge the impact of the imposition on the Volker rule which imposes ban on proprietary trading by banks and other financial institutions. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 December, 2013
Gold edged down to $1227.33 at about 6:30AM EST before it climbed up to $1237.94 by late morning in New York and then fell back toward $1233 in early afternoon trade, but it then jumped to a new session high of $1242.98 in the last hour of trade and ended with a gain of 0.97%. Silver slipped to $19.476 before it rose to $19.814 and then also fell back off, but it then climbed to a new session high of $19.997 and ended with a gain of 2%. Full Story
Tonight (Friday) I would like to show you some HUI to gold ratio charts that could give us a place to look for the ultimate low for the big cap precious metals stocks. So far these charts have been playing out for over five years. Full Story
China imported 148 tons in October, the second highest recorded level. The record was in March 2013 when China imported 224 tons. October marked China's 26th consecutive month of being a substantial net gold importer.
These numbers are solely demand that is going through Hong Kong. There are also sizeable shipments directly to China from Australia, the UK, the U.S. and South Africa. There may also be exports from elsewhere in Africa that is not showing up in the data. Full Story
By: Julian D. W. Phillips, Gold Forecaster - Global Watch - 9 December, 2013
We feel it important that subscribers realize that this is not just gold sold in the West moving to Asia, but the gold market itself is moving to China. At some point this will be recognized in China and the development of the gold market structures there will accelerate. It will need the encouragement of the People’s Bank of China, but with the Chinese government favouring gold so much, we expect this will be only a matter of time. Full Story
The PRICE of wholesale gold held steady around $1230 per ounce in London trade Monday morning, ticking upwards as European shares slipped but Asian stock markets closed higher after strong data from China. The Euro rose to 6-week highs vs. the Dollar on the FX market, capping gold priced in the single currency beneath €900 per ounce. Full Story
By: Rick Ackerman, Rick's Picks - 9 December, 2013
Meanwhile, the news media, led by the over-the-top cheerleading of the Wall Street Journal, acts as though the 7% unemployment rate actually means something. We prefer Shadowstats’ spin, which puts unemployment at about three times the official rate. It’s amusing in any event to watch the news media get all worked up about the supposedly improving economy when any idiot outside of America’s giddy newsrooms can see that most businesses and their employees are struggling just to keep their heads above water. Full Story
The fall in US unemployment rate in November did not have much impact on gold and silver. US retail sale numbers on Thursday will be the key. Traders will now start taking positions for next weeks Federal reserve meet. Gold and silver bulls could also benefit from year end short covering. Full Story
Or maybe the goldbugs are right, the impending catalyst is really that "they" are down to scraping the last few bits of 1960s-era gold pried loose from the dusty corners of the western vaults to be melted down, recast to 1-kilo bars, and sent off to China, and we are not far away from the decades-in-the-making Great Gold Squeeze. Call me crazy but I'd guess that bottom-scraping news wouldn't be kept from the bullion bank participants in the LBMA, and they'd want to get net long gold which...they seem to be doing as per the COT report...hmmmm... Full Story
By: Steve St. Angelo, SRSrocco Report - 8 December, 2013
As the world continues down the road of self-destruction via its highly leveraged paper financial markets, there's a much more fascinating story worth looking at. Hidden from the majority of the public and misunderstood by many of the so-called professional metal analysts, is the Real Story Behind Silver. Full Story
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