By: Chris Mullen, Gold-Seeker.com - 13 March, 2015
Gold gained $8.26 to $1161.56 in Asia before it fell back to $1151.57 in late morning New York trade, but it then bounced back higher in afternoon trade and ended with a gain of 0.17%. Silver rose to as high as $15.661 in Asia before it fell back to $15.484 and then also bounced back higher, but it still ended unchanged on the day. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 March, 2015
New York closed at $1,153.30 down$0.70 as the gold price began to stabilize as did the euro for now. Asia lifted the gold price to $1,159 and London held it there before it was Fixed at $1,156.50 down $4.75 and in the euro, at €1,091.244 down €3.655, while the euro was at $1.0598, almost unchanged. Ahead of New York’s opening, gold was trading in London at $1,156.45 and in the euro at €1,092.07. Full Story
- Gold has risen 11% versus the euro in 2015 - Builds on 12% gains against the euro in 2014 - Sentiment poor despite reasonable performance - Gold performing well considering significant gains in stocks and dollar - Dollar centric view misleading - Currency wars intensifying - Complacency and hubris rife Full Story
By: Chris Mullen, Gold-Seeker.com - 12 March, 2015
Gold climbed $12.50 to $1166.50 in Asia before it fell back to $1148.62 by early afternoon in New York and then bounced back higher into the close, but it still ended with a loss of 0.06%. Silver rose to as high as $15.716 before it also fell back off, but it still ended with a gain of 0.45%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 March, 2015
New York closed at $1,154 down$7.30 as, for yet another day, the dollar continued to rise as the market remained dominated by currency issues. Asia lifted the gold price by $11 before London pulled it back to $1,160. London then Fixed the gold price at $1,161.25 up $2.50 and in the euro, at €1,094.899 down €1.157, while the euro was at $1.0606, up quarter of a cent. Ahead of New York’s opening, gold was trading in London at $1,159.00 and in the euro at €1,091.51. Full Story
The Federal Reserve has issued a stinging rebuke to two of Europe’s largest banks – Deutsche Bank and Santander. U.S. operations of Deutsche, Germany’s largest bank, and Santander, the biggest bank in Spain and a large player in the UK market, were found to have serious deficiencies in capital planning and risk management, according to a senior Federal Reserve official. Full Story
The US dollar is overbought. Any profit taking in the US dollar will result in quick gains for all commodities. There is huge expectation that the US February retail sales will be good. A below expectation US retail sale numbers will result in gold spiking to the $1190/$1220 zone quickly and silver rising to the $1726-$1860 zone very quickly. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 March, 2015
Gold edged up to $1164.69 in late Asian trade before it fell back to $1147.97 in late morning New York trade and then bounced back higher in afternoon trade, but it still ended with a loss of 0.63%. Silver slipped to a low as $15.289 and ended with a loss of 0.45%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 March, 2015
New York closed at $1,161.30 down$5.60 as the dollar continued to rise as the market remained dominated by currency issues. Asia lifted the gold price by $2 before London pulled it back to New York’s closing levels. London then Fixed the gold price at $1,158.75 down $2.25 and in the euro, at €1,096.056 up €16.658, while the euro was at $1.0572, down another nearly 2 cents. Ahead of New York’s opening, gold was trading in London at $1,158.20 and in the euro at €1,090.43. Full Story
Gilberts article, ‘Apple Watch Won’t Rescue Gold Bugs’, describes our analysis as “breathless”. It suggests to us that he may have not read our entire piece and the many qualifications and caveats in the piece. If he had read the entire piece and the important context and substantive points made, it is unlikely that he would have described it with such negative bias. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 March, 2015
Gold dropped $11.40 to $1155.50 in late Asian trade before it bounced back to $1170.31 in London and then fell back off again in New York, but it ended with a loss of just 0.48%. Silver slipped to $15.621 in Asia before it bounced back to $15.847 and then also fell back off, but it ended with a loss of just 0.7%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 March, 2015
New York closed at $1,166.90 up $1.20 in a thin market but with more heavy ETF sales, but still dominated by currency issues. Asia took the gold price down to $1,158.00 before London opened. London then Fixed the gold price at $1,161.00 down $13.75 and in the euro, at €1,079.398 up €1.426, while the euro was at $1.0756, down another one and a quarter cents. Ahead of New York’s opening, gold was trading in London at $1,164.00 and in the euro at €1,083.55. Full Story
With all the focus on Grexit in recent weeks, investors have not paid much attention to the risk posed by ‘Brexit’ or the possibility of the UK leaving the European Union. This is the case in currency and stock markets with the FTSE and sterling remaining buoyant despite obvious risks. Indeed, gilts remain close to all time record highs – in part due to QE. Full Story
Gold climbed almost $10 to $1175.38 at about 7AM EST before it fell back off throughout all of trade in New York, but it still ended with a gain of 0.1%. Silver rose to as high as $15.98 before it also fell back off and ended with a loss of 0.5%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 March, 2015
New York closed at $1,165.70 down $33.30 in a thin market but with heavy ETF sales, but still dominated by currency issues. Asia took the gold price up slightly to $1,174.00 before London opened. London then Fixed the gold price at $1,173.75 96.50 down $22.75 and in the euro, at €1,077.972 down €12.63, while the euro was at $1.0889 down nearly a cent. Ahead of New York’s opening, gold was trading in London at $1,174.60 and in the euro at €1,079.74. Full Story
Currency wars and the growing trend away from dollar dominance in international finance, particularly in emerging markets, was highlighted in an interesting CNBC article this morning entitled “Is the Dollar Losing its Clout Among EMs?” It refers to the deliberate and stated policy of “de-dollarisation” around the world, the decline in the use of the dollar in international trade and as a reserve currency and the emergence of the new BRICS bank. Full Story
It is now upto the Federal Reserve whether to decide whether it wants a June interest rate hike or not. US February nonfarm payrolls are clearly indicative of an interest rate hike in June. However global central banks have a history to excesses and the Federal Reserve can convey a delay in US interest rate hike beyond June. The next ten trading sessions are very crucial for gold and silver from a medium term perspective. Full Story
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