Gold gained $7.81 to $1276.31 in London before it fell back to $1264.22 in early New York trade, but it then rallied back higher for most of the rest of the day and ended with a gain of 0.41%. Silver edged up to $17.169 before it dropped back to $16.878, but it also climbed back higher into the close and ended with a gain of 0.18%. Full Story
Despite maintaining an overbought condition and despite the recent bearish posture of many sector pundits, the gold stocks have yet to correct more than 11%. Since the end of January the gold stocks have held above their 50-day moving averages, which is often support during a strong trend. If the gold stocks break their lows of the past two weeks then it should usher in a 20% correction and correct the current overbought condition. However, if gold stocks do not break initial support they could begin a melt-up that would lead to a more serious correction in the summer. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 13 May, 2016
Will the “Brexit” debate affect gold and silver prices? We don’t think they will, until it is certain Britain will leave the E.U. If they don’t, there will be no impact on these prices. If they do, we are being warned of a plunging pound, a U.K. recession and the potential that other countries will leave too. But that is still a month away. Full Story
O’Leary’s view on gold is the typical group think, herd view of gold as “risky asset” prevalent among most of the Irish and British population where there is little understanding of gold as a safe haven asset and as financial insurance. This is due to a lack of a culture or tradition of owning gold and a complete lack of coverage and analysis of the gold market. This is in marked contrast to the Germans, Austrians, Swiss and most Asian nations who understand gold as a store of value. Full Story
By: Chintan Karnani, Insignia Consultants - 13 May, 2016
Gold and silver should start to rise after May’s option expiry. I will prefer to use sharp dips till May’s option expiry to invest for June and July. In the absence of major market moving news, there has been range bound trade for gold and silver. Copper fell yesterday on a technical breakdown. Physical demand for gold will be on the rise for all nations except India. Indian gold outlook for the rest of the year will be clear by mid June, when monsoon rains arrive. Full Story
Gold drifted down to $1265.93 at about 8:30AM EST before it popped back to $1280.71 in the next 90 minutes of trade, but it then fell back off again into midday and ended with a loss of 0.72%. Silver slipped to as low as $17.021 and ended with a loss of 1.84%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 May, 2016
Gold closed in New York at $1,277.70 up from Tuesday’s $1,266.40. On Thursday morning in Asia it fell to $1,272.65, as the Yuan continued to weaken against a dollar that held at yesterday’s levels, before the LBMA price setting in London. The Gold Fixing in Shanghai’s morning was just under $8 lower than New York’s close. London’s opening was higher than Shanghai’s afternoon Fix initially telling us that physical demand in China caused the price to stay at levels of the day before. We need a few days of price disparity to see who’s leading whom. Full Story
Gold demand reached 1,290 tonnes Q1 2016, a 21% increase year-on-year, making it the second largest quarter on record. This increase was driven by huge inflows into exchange traded funds (ETFs) – 364t – fuelled by concerns around the shifting global economic and financial landscape. Full Story
Gold gained $12.52 to $1278.92 by a little after 8AM EST before it pared its gains into midday, but it then bounced back higher in afternoon trade and ended with a gain of 0.89%. Silver rose to as high as $17.562 and ended with a gain of 1.66%. Full Story
When asked about whether he has a “message for gold bugs … people who have Krugerrands in their dressing room drawer”, Steel spoke of gold’s portfolio insurance benefits and “the diversification argument is the most powerful … it is an insurance policy”. Full Story
By: Chintan Karnani, Insignia Consultants - 11 May, 2016
Corrections in gold and silver are a part and parcel of a long term bull rally. Gold and silver’s rise is mainly due to investment demand and lacks physical off take from key consumers like India and China. In the mobile investment age, investment demand surges can drive prices of anything to mars and defy fundamentals for a much longer period than we can imagine. Rise in investment demand for gold and silver is good for the long term. Physical demand increases will catch up sooner than later. Full Story
Gold edged up to $1267.88 in Asia before it dropped back to $1256.98 by midmorning in New York, but it then rallied back higher into the close and ended near its late session high of $1269.45 with a gain of 0.26%. Silver rose to as high as $17.119 in Asia before it also fell back off, but it then climbed to a new session high of $17.151 and ended with a gain of 0.77%. Full Story
By: Stewart Thomson, Graceland Updates - 10 May, 2016
The bottom line is this: While the buyback-bloated US stock market struggles in technically overbought territory against a background of horrific demographics, the young business-oriented titans of India are poised to launch their stock markets into higher price mode, for decades to come. Full Story
Gold fell $26 to $1262.20 by early afternoon in New York before it bounced back higher at times, but it still ended with a loss of 1.95%. Silver slipped to as low as $16.93 and ended with a loss of 2.75%. Full Story
As we know, China recently introduced a new yuan priced gold fix. Within a week of the new fix being introduced however, Russia and China announced a new gold trading platform, reports Sputnik News. In a recent interview with Austrian Economist Sandeep Jaitly, Double Down asks him to explain the purpose of the fix and what the gold moves by Russia and China could tell us about the current fiat money system. Sandeep noted that with the demise of the London Gold Fix, which used to be set in pounds sterling and moved to only the dollar fix after World War II, has opened the door for the Chinese to be the price setter of physical gold. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 9 May, 2016
China’s reserves of gold rise – China increased its gold reserves rose 10.89 tonnes last month. We have come to expect around 21 tonnes a month increases over the last few months. We don’t think there has been a change in policy. As these reserves come mainly in the form of 400 oz bars, they would have to have been bought on the London market. We see China’s policy as taking what’s offered to them by dealers, so as to not chase prices. With the heavy U.S. demand ongoing, it may be that there was little on offer. Full Story
The London and UK property bubble shows renewed signs that it is beginning to burst. Property sellers in the UK have reduced their asking prices and London property prices have fallen by 7.8 per cent on average and as much as 30% in some areas according to City AM today. Full Story
By: Chintan Karnani, Insignia Consultants - 9 May, 2016
Last week everyone went long in all metals and crude oil. There was range trade for most of the week with a bearish bias for metals and bullish bias for crude oil. However long term retail investor optimism in metals prevented them from going short. They were excited and nervous. Nervousness came in when gold and silver by more than $10 and $30. Excitement persisted as they both managed to hold on to key short term supports. Full Story
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