By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 September, 2013
New York closed at $1,315 on Thursday and it fell further in Asia and London. Asia watched it slip a dollar back further to Fix at $1,308.25odown nearly $65 in a fall reminiscent of the ‘bear raid’ in April. In the euro it Fixed at €984.461 down €24. Ahead of New York’s opening gold was trading at $1,314 and in the euro at €988.90. Full Story
The PRICE of GOLD marked the 5th anniversary of Lehman Brothers' collapse by sliding $25 per ounce Friday morning, finally bouncing from a new 5-week low at $1305. World stock markets held flat, while the price of crude oil rallied from a 3-week low. Silver regained 40c per ounce from a fresh 4-week low at $21.42 – some 10% below where it ended last week. Full Story
Gold has fallen 5.4% this week and is headed to its lowest in five weeks (see chart below). A heavy burst of selling led to another sharp fall in gold from $1,323/oz to $1,312/oz, again in less liquid Asian markets overnight and gold broke through support at $1,320/oz and may now test support at the $1,275/oz level. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 September, 2013
Gold fell to as low as $1326.25 at about 10AM EST before it bounced back higher midday, but it then fell back off again in the last couple of hours of trade and ended near its late session low of $1321.60 with a loss of 3.05%. Silver slumped to as low as $21.83 and ended with a loss of 5.66%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 September, 2013
New York closed at $1,364.60 down nearly $22.00 on Wednesday. Asia watched it slip a dollar back further to $1,345 ahead of London’s opening. London Fixed it at $1,373 down $13 and in the euro at Fixed at $1,340.25 a fall of $45.75 and in the euro at €1,008.541 down €28.781. Ahead of New York’s opening gold was trading at $1,343.40 and in the euro at €1,010.65. Full Story
LONDON PRICES for wholesale gold slipped to 1-month lows at $1334 per ounce Thursday lunchtime, extending an early $20 slump in what one dealer called "anaemic trade". European stock markets reversed morning losses, and crude oil rallied, as the US and Russian foreign ministers met in Switzerland to discuss Syria's chemical weapons. Full Story
Gold prices fell sharply again just prior to European markets opening, in aggressive selling which saw gold quickly fall from $1,355/oz to $1,343/oz at 0754 GMT. Support at $1,360/oz was breached overnight and gold should now test support at $1,320/oz. Gold prices are now at the lowest in almost three weeks after Obama asked Congress to delay a vote on U.S. military action against Syria and hope grew that a U.S. strike on Syria could be avoided diminishing demand for safe haven gold in the short term. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 September, 2013
Gold fell $8 to $1356.80 in early Asian trade before it climbed back to $1368.05 in London and then dropped to as low as $1357.70 at about 7:15AM EST, but it then chopped back higher in New York and ended with a loss of just 0.02%. Silver slipped to as low as $22.896 in London before it also rallied back higher into the close and ended with a gain of 0.78%. Full Story
WHOLESALE bullion prices bounced on Wednesday from new 3-week lows as the US cancelled a Congressional vote on Syria, and traders pointed to next week's expected "tapering" of quantitative easing by the Federal Reserve. Full Story
Gold is marginally higher today but remains near its lowest level in almost three weeks as hopes that a U.S. military strike against Syria could be averted have led to reduced safe haven demand. The easing of geopolitical tensions in the Middle East has contributed to the recent weakness in gold but the deep fissures and significant tension between the U.S. and re-emerging superpower Russia is a geopolitical risk that is being underestimated for now. Full Story
There is still skepticism whether the Russia proposal will be accepted. Syria is ready to accept the Russian proposal of giving chemical weapons to UN inspectors. But I have my doubts whether the US will accept its cold war foe Russia’s proposal. To me the US is just buying time and nothing else. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 September, 2013
Gold fell $28.90 to $1357.60 at about 10AM EST before it bounced back higher midday, but it still ended with a loss of 1.57%. Silver slipped to as low as $22.80 and ended with a loss of 3.00%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 September, 2013
New York closed at $1,386.50 down $2.00 on Monday. Asia watched it slip a dollar as did London to $1,375. London Fixed it at $1,373 down $13 and in the euro at Fixed at $1,386.00 up nearly $20.00 and in the euro at €1,037.322 down €13.23. Ahead of New York’s opening gold was trading at $1,372.20 and in the euro at €1,036.09. Full Story
BENCHMARK London prices for physical gold fell to $1363 lunchtime Tuesday, down 2.3% from Monday's high as the Assad regime in Syria accepted a Russian-backed plan to give its chemical weapons to international control. The Rupee meantime rose to a 2-session high after new Indian trade data showed gold imports falling and exports rising in August. Full Story
Gold tracked oil lower today after Russia offered to work with Syria’s Assad to put their chemical weapons under international control. Firmer equities and equities at record highs showed risk appetite remains very high and “irrational exuberance” is back despite significant risks, including geopolitical risk. Full Story
I think market obsession with Syria is wrong as it is too small a nation. Russia, the closest friend of Syria is showing trends of being a foe. Iran cannot do anything to help Syria. Induced regime change in Syria will meet the same fate as Egypt or Libya which are in a state of deep turmoil. The USA or Russia, both are in Syria for their vested interest. Full Story
By: Chris Mullen, Gold-Seeker.com - 9 September, 2013
Gold fell $6.50 to $1382.00 by a little after 8AM EST before it climbed back to $1390.72 in the next couple of hours of trade, but it then drifted back lower into the close and ended with a loss of 0.14%. Silver slipped to as low as $23.396 and ended with a loss of 0.59%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 September, 2013
New York closed at $1,388.50 up nearly $20.00 on Friday. Asia watched it slip a dollar as did London. London saw it slip slightly to Fix at $1,386 and in the euro at Fixed at $1,386.00 up nearly $20.00 and in the euro at €1,050.557 up just under €8.00. Ahead of New York’s opening gold was trading at $1,387.25 and in the euro at €1,052.06. Full Story
The PRICE of GOLD edged $10 per ounce lower Monday morning in what dealers called "dull, thin" trade following Friday's sharp jump on US jobs data. A surge in Asian share prices – attributed to Tokyo winning the 2020 Olympics bid, plus official news of 7% annual growth in China's exports and imports in August – failed to lift European stock markets. Full Story
Gold rose in Shanghai on the open and gained 1.2% to 277.15 yuan per gramme prior to aggressive selling capped price gains. Gold inched down in London and the belief that the Fed will announce a reduction in quantitative easing at their policy meeting next week may be leading to weakness. Full Story
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