By: Chris Mullen, Gold-Seeker.com - 14 October, 2016
Gold fell $9.38 to $1248.72 at about 8:30AM EST before it bounced back to $1257.46 in early afternoon trade and then drifted back lower into the close, but it ended with a loss of just 0.53%. Silver slipped to as low as $17.373 and ended with a loss of 0.29%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 October, 2016
It is now clear to most observers that the People’s Bank of China wants the Yuan lower and is encouraging a ‘controlled’ devaluation over time. They are keen not to have a howling condemnation of a lower Yuan so are moving slowly, although compared to efforts by the E.U. and Japan to drive their currencies lower their actions are extremely restrained. Full Story
Goldman Sachs has long been the most vocal, prominent and widely quoted bear in the gold market. However, in recent weeks there is a marked change in their tune and they are now bullish on gold in the medium and long term. They are concerned about further price weakness in the short term as we run into year end but believe this will be a buying opportunity. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 October, 2016
Gold gained $6.20 to $1261.40 in Asia before it fell back to $1255.48 in early New York trade, but it then chopped back higher into the close and ended with a gain of 0.23%. Silver slipped to as low as $17.414 and ended with a loss of 0.23%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 October, 2016
China continues to hold higher gold price levels than New York or London, but today we are seeing London opening at Shanghai’s levels. Shanghai continues to reflect physical demand as the Yuan continues to weaken. We forecast a falling Yuan with 7.00 by year’s end close to the beginning of the year and pointed out it would accelerate it fall after becoming a currency used in the SDR. It is doing this now. Full Story
Traditional market liquidity is drying up. Increasingly dark pools are hoovering up equity and FX volumes. Markets are becoming disjointed and prone to large wild swings. Central banks are entering the market on political mandates as opposed to a search for yield, algorithmic investors are untested in bear markets and likely unprepared. The table is set for significant disruption and systemic damage. Your gold investment may not be accessible nor liquid in times extremis. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 October, 2016
Gold dropped $2.94 to $1250.66 by a little after 8AM EST before it jumped up to $1258.19 in the next 2 hours of trade and then drifted back lower into midday, but it then bounced back higher into the close and ended with a gain of 0.13%. Silver slipped back to $17.369 before it also rallied back higher in late trade and ended with a gain of 0.46%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 October, 2016
With the gold price in sterling having risen +37.11% since January 6th we note that the last time the Pound Sterling faced this much exchange rate damage it imposed Exchange Control in the form of the Dollar Premium. Now it simply accepts the fall in sterling, which gives it a huge competitive edge in the exports markets. It is likely to also see a major drop in the Trade deficit. And this is only on the certainty, but not the reality of Brexit, which will not be triggered until next year and completed two years after that. Full Story
Gold in GBP has risen another 3.5% in the last 3 trading days as the British pound continues to be “pounded” on international markets. Gold in GBP terms is now 43% higher year to date and has risen from £716/oz on January 1st to £1024/oz today. Sterling is now the worst performing major currency in 2016 and gold the best. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 October, 2016
Gold chopped between $1255.70 and $1261.90 in Asia before it dropped down to $1252.90 in London and then bounced back higher in New York, but it still ended with a loss of 0.48%. Silver slipped to as low as $17.44 and ended with a loss of 0.91%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 October, 2016
We note that the gold price in the euro and the Yuan have been relatively steady. It is in the dollar that the gold price has weakened. The gold price is back in consolidation mode and can go either way. The downside, we feel, is pretty limited but the upside stretches a long way. Nevertheless we look to the New York market, tempered by Shanghai to point the way. Full Story
Ron Paul, an astute observer of the markets, warned in a CNBC interview that “if investors are looking for the next U.S. president to create stability in the markets, it’s not going to happen.” Along with jitters about the Federal Reserve’s next move on interest rates, investors are weighing whether Democratic contender Hillary Clinton or Republican nominee Donald Trump will be better for investors. The libertarian icon and former Texas Congressman suggested market players may not want to hold their breath. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 October, 2016
Gold gained almost $10 to $1264.89 in Asia before it chopped back down to $1257.75 in late morning New York trade, but it still ended with a gain of 0.37%. Silver rose to as high as $17.799 and ended with a gain of 0.92%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 October, 2016
Shanghai is back from holiday. And they were not prepared to accept New York’s physical free price of $1,254 trading $11 - $13 higher. We remind ourselves that Shanghai is the biggest physical market in the world. It is also the first time Chinese investors and the PB o C has had the opportunity to react to the Yuan being one of the world’s leading currencies as one of those making up the SDR. In addition let’s also remind ourselves that there is no love lost between the U.S. and China as China is a separately developing ‘empire’ to that of the developed world. Full Story
The timing of the sudden sell off, when Chinese gold markets and the Shanghai Gold Exchange (SGE) were closed for the five days of the Chinese Golden Week, has rightly raised a lot of eyebrows. China is now a powerful force in the gold market, and is influencing global gold prices through the physical gold exchange, the Shanghai Gold Exchange and indeed the Shanghai Futures Exchange. China also has four gold-backed ETFs that are growing in popularity. Full Story
Just trade in the technical. Ignore the US presidential debate. Current US president Obama last few days antics won him a second term. So November trend will be the decider. People love politicians mudslinging each other in elections and that is what the media is feeding them. Physical gold and silver demand all over the world should zoom. Technically silver has a triple bottom at $17.10. Silver can rise to $2007 and $2276 in the short term if it manages to trade over $17.10 on daily closing basis. Gold needs to trade over $1233 for the rest of the month for another assault at $1341. Full Story
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