By: Chris Mullen, Gold-Seeker.com - 14 November, 2014
Gold dropped $13.52 to $1148.28 by a little after 8:30AM EST, but it then jumped to as high as $1193.50 by early afternoon in New York and ended with a gain of 2.49%. Silver surged to as high as $16.384 and ended with a gain of 4.42%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 November, 2014
The gold price closed up at $1,161.80 up from $1,160.10 in New York on Thursday. London took it down to $1,153 ahead of the Fix. It was Fixed at $1,154 down $7.00 and in the euro at €926.312 down €4.5, while the euro stood stronger at $1.2458. The volumes of net gold traded were two sellers selling 22,000 ounces and two buyers buying 36,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,153.70 and in the euro at €926.18. Full Story
Weakness of the Japanese Yen against the US dollar is preventing a rise in gold and silver. Yen price movement has been one of the key contributors of gold and silver’s price rise since 2003. Yen price swings will affect bullion prices. Lower crude oil prices are also preventing gold and silver from a rise. Nymex crude oil has completed one full circle of rise and fall at $74.07. It will not be easy for Nymex crude oil to fall below $67.15 for the next six months. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 November, 2014
Gold dropped $6.08 to $1154.02 in Asia before it climbed up to $1167.50 at about noon EST and then fell back off in the next couple of hours of trade, but it then bounced back higher into the close and ended with a gain of 0.15%. Silver slipped to as low as $15.572 and ended with a loss of 0.38%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 November, 2014
The gold price closed down at $1,160.10 down $5.70 in New York on Wednesday. London took it down to $1,156 ahead of the Fix. It was Fixed at $1,161.00 down $2.25 and in the euro at €930.811 down €3.601, while the euro stood stronger at $1.2473. The volumes of net gold traded were two sellers selling 56,000 ounces and two buyers buying 40,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,163.20 and in the euro at €932.76. Full Story
Fidelity Investments are a largely family owned mutual fund and financial services company. It is one of the largest mutual fund and financial services groups in the world. Founded in 1946, the company has since served North American investors. This year they were voted best investment company in an online broker review by Stockbroker.com. They have gradually moved up in the rankings from eighth place in 2011. Full Story
Banks have been penalized for manipulation of currency markets and for manipulation of silver prices. Silver prices are very easy to manipulate. A few years back JP Morgan was fined for silver price manipulation. Gold and silver traders need to live with manipulation. Gold and silver are on weak fundamentals. All these manipulators will bite the dust when fundamentals are strong. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 November, 2014
Gold bounced between $1161.42 and $1169.72 in London before it dropped down to $1157.45 in early afternoon New York trade and then edged back higher in late trade, but it still ended with a loss of 0.49%. Silver slipped to as low as $15.569 and ended with a loss of 0.45%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 November, 2014
The gold price closed down at $1,165.80 up by $16.20 in New York on Tuesday. It then moved up slightly to $1,169 before London’s opening. It was Fixed at $1,163.25 up $12.00 and in the euro at €934.412 up €6.508, while the euro stood stronger at $1.2450. The volumes of net gold traded were two sellers selling 22,000 ounces and two buyers buying 42,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,163.60 and in the euro at €934.21. Full Story
Further proof of manipulation of gold and silver prices - if any were needed - came overnight as Switzerland’s financial regulator (FINMA) found “serious misconduct” and a “clear attempt to manipulate precious metals benchmarks” by UBS employees in precious metals trading, particularly with silver. Full Story
The problem with gold and investors is that they are very short sighted and most of them want to make a very quick buck. Bullion investors need severe patience. Financial markets have a tendency to overshoot and undershoot. I remember that last year in 2013, when Indian stock markets crashed, most of the people thought that Indian stock markets will not recover for a few years. Now Indian stock indices are at a life time high. The same will happen to gold and silver but it will take a longer time. The best way to invest in gold is buying small physical quantities every month. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 November, 2014
Gold waffled near unchanged in Asia and saw slight gains in London before it showed some weakness in midmorning New York trade, but it then shot back higher midday and ended near its late session high of $1172.97 with a gain of 1.43%. Silver surged to as high as $15.887 and ended with a gain of 1.16%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 November, 2014
The gold price closed down at $1,149.40 by $24 in New York on Monday. It then moved up slightly to $1,152.30 before London’s opening. It was then Fixed at $1,151.25 down $20.75 and in the euro at €927.904 down €10.296, while the euro stood weaker at $1.2407. The volumes of net gold traded were two sellers selling 60,000 ounces and two buyers buying 46,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,151.40 and in the euro at €927.91. Full Story
Currency wars are set to warm up again, after Japan's radical decision to further debase its currency through an intensification of already significant monetary easing. There was a palpable coldness from China's Premier Xi Jinping as he greeted Japan's President Abe at the APEC summit in Beijing. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 November, 2014
Gold fell steadily throughout most of world trade and ended near its late session low of $1147.31 with a loss of 2.2%. Silver slipped to as low as $15.496 and ended with a loss of 1.14%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 November, 2014
The gold price closed up $30.40 in New York on Friday. It then moved down slightly to $1,172 before London’s opening. It was then Fixed at $1,172 up $27.00 and in the euro at €938.200 up €14.813, while the euro stood stronger at $1.2492. The volumes of net gold traded were three sellers selling 50,000 ounces and one buyer buying 40,000 ounces before the pro-rata process kicked in. Ahead of New York’s opening, gold was trading at $1,171.40 and in the euro at €937.91. Full Story
Suspicions that the price of precious metals are frequently manipulated by a few international banks were further confirmed over the weekend. UBS agreed to settle with various international regulatory bodies investigating rigging in foreign exchange and precious metals markets. Full Story
There are no major US economic data releases before Friday. We believe that gold and silver should rise further. The more they rise the more there will be short covering adding to very big short term gains. The pace of US interest rate hikes next year should be below investor expectations which itself should remove the negative sentiment. Indian demand and Asian demand for gold and silver has been very high. Full Story
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