Gold edged down $1270.92 in Asia before it shot up to $1277.13 at about 3AM EST and then dropped back to about unchanged in London, but it then rallied back higher in afternoon New York trade and ended near its late session low of $1277.88 with a gain of 0.24%. Silver slipped back to $19.489 in London, but it then climbed to as high as $19.73 in New York and ended with a gain of 0.72%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 June, 2014
The gold price closed at $1,273.80 up $12.80 on Thursday in New York. In Asia and London the price held at that level until the Fix, where it was set at $1,273.00 up $11.25 and in the euro at €938.168 up €5.266, while the euro stood stronger at $1.3569. Ahead of the opening in New York the gold price was trading at $1,273.40 and in the euro at €938.51. Full Story
Gold consolidated near a two-week high today and is set for the first back to back weekly advance since April, as concerns that a U.S. recovery may be stalling and geopolitical risks in the Middle East led to safe haven demand. Gold is 1.6% higher this week, after rising 0.3% last week. Silver is also poised for the second week of gains. In the physical gold market, premiums on gold bars are quoted at 80 cents to $1.20 an ounce in Singapore and Hong Kong. Full Story
Gold climbed to as high as $1274.44 by early afternoon in New York and ended with a gain of 1.02%. Silver surged to as high as $19.578 and ended with a gain of 1.82%. Full Story
There is a clash between long term support and short term bearish divergence in gold. The key long term support is at $1235 while short term resistance is at $1278. Gold has to break and trade over $1278 for another short term wave of rise to $1315 and $1335. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 June, 2014
The gold price closed at $1,261.00 up $0.20 on Wednesday in New York. In Asia and London the price held at that level until the Fix, where it was set at $1,261.75 down $0.75 and in the euro at €932.902 up €0.273, while the euro stood weaker at $1.3525. Ahead of the opening in New York the gold price was trading at $1,264.20 and in the euro at €934.92. Full Story
Palladium held steady near a more than 13-year high on Thursday, as supply concerns due to industrial unrest in South Africa and the risk of Russia restricting supply led to buying from industrial users and investors. The precious metal broke above resistance and rallied to $862.50 an ounce on yesterday, its highest level since February 2001. Full Story
The data vacuum gets over today. US may retail sales numbers will be the key. May US retail sale numbers do not have weather or Easter. A good number will result in traders expecting an interest rate hike this year only. A bad number can result in gold prices zooming to $1310 and silver zooming to $2040. That’s all I can comment. Full Story
Gold edged up to $1265.00 by a little before 9AM EST before it dropped back to $1258.62 in early afternoon trade and then bounced back higher, but it ended with a gain of just 0.016%. Silver slipped to as low as $19.164 and ended with a loss of 0.1%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 June, 2014
The gold price closed at $1,260.80 up $7.80 on Tuesday in New York. In Asia and London the price held just above that level until the Fix, where it was set at $1,262.50 up $9.00 and in the euro at €932.629 up €8.014, while the euro stood weaker at $1.3537. Ahead of the opening in New York the gold price was trading at $1,263.10 and in the euro at €933.28. Full Story
Prime Minister Narendra Modi's new government has signalled a loosening of gold import rules and this morning India’s Trade Secretary said that India needs to rationalise import duties on gold bullion. Gold may also have been bid higher due to concerns about commodity financing deals in China. Full Story
Over the past one year gold and silver have risen mostly on days when there was a US economic data vacuum. Yesterday was no exception. They are looking mildly bullish at the moment and can rise further. They need to trade over $1252 and $19.00 for further gains. Full Story
Gold jumped up to $1262.91 at about 8:30AM EST before fell back off a bit at times, but it still ended with a gain of 0.6%. Silver surged to as high as $19.24 and ended with a gain of 0.79%. Full Story
GoldSeek TV presents an exclusive interview with Rudi Fronk, the CEO of Seabridge Gold (NYSE: SA, TSX: SEA). He discusses several topics with interviewer Vanessa Collette including:
- Huge Addition to KSM - Deep Kerr
- Good drill results expected from this Summer's program
- A lot of could happen in the next 12 months Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 June, 2014
The gold price closed unchanged at $1,253 on Monday in New York. In Asia and London the price held that level until the Fix, where it was set at $1,253.50 down $1.50 and in the euro at €924.615 up €3.92, while the euro stood weaker at $1.3557. Ahead of the opening in New York the gold price was trading at $1,253.10 and in the euro at €925.41. Full Story
Gold is treading water and appears to be biding time prior to the economic data later this week. After the positive jobs report last week, there is an expectation that retail sales may rise. A positive retail sales number could see gold come under pressure. A worse than expected number should lead to a safe haven bid for gold. Full Story
Expectations of higher interest rates over the coming years and intervention by the USA and its friends to curb gold prices are the key reasons for bearishness in gold and silver. There are a lot more factors than interest rates which can drive up gold prices. Yesterday I had mentioned demand from India, China and Russia as one the key movers for bullion. In my view India and China will see long term growth rates bottoming out by the first quarter of 2015 and thereafter once again there will be a five years of higher GDP growth. Full Story
Gold edged up to $1256.97 by a little after 8AM EST before it fell back to $1252.30 in the next four hours of trade and then bounced back higher in early afternoon trade, but it then chopped back lower into the close and ended with a gain of just 0.03%. Silver surged to as high as $19.197 before it also fell back off, but it still ended with a gain of 0.26%. Full Story
GoldSeek.com TV presents an exclusive interview with John Kaiser, The Bottom Fish Report. He discusses several topics with interviewer Vanessa Collette, including:
- Opportunities this summer for investors
- Exploration Companies Update: 40%+ with negative working capital
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 June, 2014
The gold price closed at $1,252.90 on Friday down $1 in New York. In Asia and London the price rose $3 until the Fix, where it was set at $1,255.00 up $10.75 and in the euro at €920.695 up €6.276, while the euro stood stronger at $1.3631. Ahead of the opening in New York the gold price was trading at $1,256.20 and in the euro at €922.86. Full Story
Gold bullion traded near the highest price in a week in London as the dollar fell against major currencies. Senior international bankers have told The Financial Times that Russian companies are preparing to switch from dollar to renminbi contracts and other Asian currencies amid fears that western sanctions may freeze them out of the U.S. dollar market. Full Story
Speculative money will move into betting for the soccer world cup. Soccer world cup is a global betting extravaganza and nothing else to me. Let’s see who replaces the octopus this time. There are huge short positions in gold and silver for now. There can be short covering in gold and silver before the soccer world cup as well as the FOMC meeting. As a result there can be a short spurt in gold and silver. I keep my fingers crossed. Full Story
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
