By: Chris Mullen, Gold-Seeker.com - 13 February, 2015
Gold climbed $9.18 to $1231.18 in Asia before it fell back to $1223.30 in London, but it then climbed to a new session high of $1234.85 in New York and ended with a gain of 0.53%. Silver rose to as high as $17.44 and ended with a gain of 2.55%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 February, 2015
New York closed at $1,222.00 up $2.30. In Asia the gold price lifted to $1,230.00. London took it up and it was Fixed at $1,225.75 up $0.75 and in the euro, at €1,073.101 down €7.652, while the euro was nearly a cent stronger at $1.1423. Ahead of New York’s opening gold was trading in London at $1,224.30 and in the euro at €1,072.91. Full Story
Central bank gold buying surged another 17% last year as countries outside of the Western hemisphere continue to stockpile the only currency with no counterparty risk. Russia was by far the largest buyer. Its purchases made up a staggering 36% of total central bank buying. In total, central banks bought 477 tonnes of the precious metal last year of which 173 tonnes flowed into Russia, according to a report from the World Gold Council. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 February, 2015
Gold jumped up to $1229.51 in late Asian trade before it chopped back down to $1219.91 by early afternoon in New York, but it then bounced back higher in the last few hours of trade and ended with a gain of 0.19%. Silver rose to as high as $16.988 and ended with a gain of 0.42%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 February, 2015
New York closed at $1,219.70 down $14.30. In Asia the gold price lifted to $1,222.40. London took it up and it was Fixed at $1,225.25 down $10.25 and in the euro, at €1,080.753 down €11.643, while the euro slightly stronger at $1.1337. Ahead of New York’s opening gold was trading in London at $1,224.60 and in the euro at €1,080.47. Full Story
Media reports present little new information regarding the talks which ran through the night. The Guardian reports that President Putin confirmed a ceasefire agreement has been reached which would come into effect on Sunday. Full Story
Gold has a key support at the 100 day moving average of $1217.10. The next wave of selling will be if gold trades below $1217.10 either in the UK session or the US session. US retail numbers today will be the key and can set the direction for the US dollar and bullion for the next three weeks. Over the past few months, there has been an increase in the US savings rate. An increase in the savings rate implies less consumption. Increases in employment numbers may not necessary translate into higher consumption. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 February, 2015
Gold saw slight gains in Asia and held near unchanged in London, but it then fell to as low as $1218.64 in New York and ended with a loss of 1.16%. Silver slipped to as low as $16.735 and ended with a loss of 0.71%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 February, 2015
New York closed at $1,234.00 down $6.70. In Asia the gold price lifted to $1,238. London took it down and it was Fixed at $1,235.50 down $2.00 and in the euro, at €1,092.396 down €4.387, while the euro slightly stronger at $1.1310. Ahead of New York’s opening gold was trading in London at $1,234.00 and in the euro at €1,091.41. Full Story
The leaders of Russia, Germany, France and Ukraine will meet in the Belarusian capital of Minsk today in a bid to resolve Ukraine’s brutal civil war. The meeting, which the Russia Today news agency describe as a Franco-German peace initiative, will not include the leaders of the US or Britain. Full Story
There are no big US economic data releases today. Traders will start taking positions for January’s US retail sales numbers tomorrow. The USA and the UK are bent on converting eastern Ukraine into another Iraq. Sending arms and other reinforcements to Ukraine is just another way to welcome the killing of more and more innocent. The UK is sending troops and spy planes to combat the Islamic state in the Middle East. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 February, 2015
Gold edged up to $1245.43 in Asia before it chopped back lower for most of the rest of trade, but it ended with a loss of just 0.54%. Silver slipped to as low as $16.738 and ended with a loss of 0.71% Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 February, 2015
New York closed at $1,240.7 up $5. In Asia and London the gold price remained at these levels. At the Fix gold was set at $1,237.50 down $4.75 and in the euro, at €1,096.783 up €0.599, while the euro was half a cent weaker at $1.1283. Ahead of New York’s opening gold was trading in London at $1,238.10 and in the euro at €1,097.17. Full Story
Despite attempts last week by EU technocrats to browbeat the new and inexperienced Greek government into submission, Syriza appear to have grown even more resolute to fulfil their mandate. Alan Greenspan has thrown down the gauntlet and predicted a Greek exit from the Euro. Noting the contradiction at the heart of Europe Greenspan pointed out that without political unity you can not have a fiscal unity. Full Story
The focus of the markets is on Greece and how a solution comes. There is lots of speculation that in the long term, Greece could be thrown out of the euro which will have positive effect on bullion. The US will be arming Ukrainian soldiers and/or indirectly sending its retired soldiers to Ukraine to fight the war. I repeat what I have been repeating every now and then - apart from the US interest rate factor, the rest of the factors are gold positive. Silver’s rise will be dependent on the global economic outlook. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 February, 2015
Gold climbed $7.94 to $1243.64 at about 5:30AM EST before it fell back to $1236.20 in the next three and half hours of trade, but it then rallied back higher into the close and ended with a gain of 0.41%. Silver rose to as high as $17.167 and ended with a gain of 1.67%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 February, 2015
New York closed at $1,235.70 down $34.50. In Asia, gold rose but only slightly ahead of London’s opening. At the Fix gold was set at $1,242.25 down $21.75 and in the euro, at €1,096.184 down €7.457, while the euro was a cent weaker at $1.1332. Ahead of New York’s opening gold was trading in London at $1,242.00 and in the euro at €1,098.24. Full Story
China’s debt-driven economy and monumentally wasteful building boom which has created entire cities with no inhabitants looks set to unwind as figures show that Chinese imports of raw materials continue to decline. Full Story
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