By: Chris Mullen, Gold-Seeker.com - 14 December, 2012
Gold edged up to $1700.42 in Asia before it fell back to $1693.32 by a little after 9AM EST, but it then bounced back higher into the close and ended with a loss of just 0.17%. Silver slipped to as low as $32.16 and ended with a loss of 1.17%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 December, 2012
New York closed at $1,697.10 down $14. While Asian dealers were quiet overnight and gold prices held up, in London there was a battle to push them down. Gold Fixed at $1,696.50 $1.75 higher than yesterday. In the euro it was Fixed at €1,297.316 down nearly €2 while the euro was slightly stronger at €1: $1.3077. Ahead of New York’s opening, gold was $1,696.60.00 and in the euro at €1,295.70. Full Story
SPOT MARKET gold prices looked to be headed for a third weekly loss in a row Friday lunchtime in London, after failing to break above $1700 an ounce, while stocks and US Treasuries were little changed on the day, with no signs of progress from Washington on the so-called fiscal cliff. Full Story
There is a decrease of liquidity in the gold bullion market with many institutional players taking profits, closing out positions for year end, and heading off for the Holidays all contribute to a lack of momentum in the market. Spot silver hit a one month low in the prior session of $32.21. This is also its third weekly fall, and its longest period of weekly drops in 7 months. Full Story
The firmness in gold prices is an indication that bears are having a hard time. Gold did not fall like a pack of cards and the fact it managed to trade over $1685 could result in bears giving up their fight if gold is able to trade over $1685 today. Silver fell but is volatile. I am not going to get gung ho over the bear trend in gold and silver and would rather wait for gold to fall below $1685 and silver to remain below $3220 to press the sell button. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 December, 2012
Gold fell to as low as $1689.49 at about 9:20AM EST before it rebounded to $1702.26 in early afternoon trade, but it then fell back off again in the last four hours of trade and ended with a loss of 0.83%. Silver slumped to as low as $32.21 and ended with a loss of 2.6%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 December, 2012
New York closed at $1,711.30. But this morning, Asian dealers or speculators prepared to stay up, launched another ‘bear raid’ and drove the gold price down to $1,698 at the quietest time of day. London followed through to push it through $1,700 down to Fix at $1,694.75 down $17.75 on yesterday. In the euro it was Fixed at €1,299.157 down over €16.5 while the euro was slightly stronger at €1: $1.3045. Ahead of New York’s opening, gold was $1,693.00 and in the euro at €1,296.47. Full Story
GOLD and silver fell hard overnight and early Thursday in London, dropping as European stock markets also fell and the US Dollar rose despite yesterday's latest "easy money" policy from the Federal Reserve. Full Story
Gold fell nearly 1% in illiquid markets in Asia overnight. Some traders may have decided to take profits on the short term long the FOMC announcement trade. Gold bullion prices had already ran up to $1,723 in the 2 weeks prior to the policy statement. Overnight, as prices fell below the 100-day moving average at $1,705, stop-loss selling was triggered which pushed prices lower quickly. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 December, 2012
Gold gained $8.94 to $1718.94 at about 9:45AM EST before it fell back to $1707.55 in the next hour of trade, but it then rose to a new session high of $1723.20 following today’s fed announcement and ended with a gain of 0.08%. Silver climbed $0.43 to $33.38 before it fell back near unchanged in late morning trade, but it then surged to as high $33.78 in afternoon trade and ended with a gain of 1.43%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 December, 2012
New York closed at $1,710.00 up $1 on yesterday. This morning, Asian dealers took it higher after which London followed through to take it to $1,715. It then Fixed at $1,712.50 up $2.75 on yesterday. In the euro it was Fixed at €1,315.587 down €2.5 while the euro was slightly stronger at €1: $1.3017. Ahead of New York’s opening, gold was $1,714.35 and in the euro at €1,314.38. Full Story
THE SPOT gold price climbed back above $1715 an ounce Wednesday morning, around ten Dollars up from last week's close, as stocks, commodities and the Euro also edged higher and US Treasuries dipped, ahead of today's Federal Reserve policy announcement. Full Story
Gold is hovering unchanged ahead of the U.S. FOMC policy statement that takes place at 1730 GMT and Ben Bernanke’s news conference is at 1915 GMT. Investors believe that the Fed will reveal more bond purchases and a continued loose monetary stance which will favour gold and silver’s appeal as hedges against inflation. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 December, 2012
Gold climbed $2.70 to $1714.30 by a little before 8AM EST before it fell back to $1704.82 in the next two and a half hours of trade, but it then rallied back higher for most of the rest of trade and ended with a loss of just 0.09%. Silver bumped up to $33.22 before it dropped back to $32.758 and then bounced back higher, but it still ended with a loss of 0.72%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 December, 2012
New York closed at $1,709.10 up $5 on yesterday. This morning, Asian & London dealers held it around that level until it was Fixed at $1,709.75 up $1.25 on yesterday. In the euro it was Fixed at €1,318 down €6 while the euro was slightly stronger at €1: $1.2970. Ahead of New York’s opening, gold was $1,709.4 and in the euro at €1,320.58. Full Story
THE WHOLESALE gold price rose to $1712 an ounce Tuesday morning in London, a few Dollars above where they started the week, while stocks edged higher and US Treasury bonds fell ahead of tomorrow's Federal Reserve policy decision. Full Story
Gold and silver are slightly lower against all fiat currencies today – although the under pressure yen was flat against gold – on what is being attributed to profit taking. There is a belief among many market participants that the Fed will announce further stimulus measures, which will boost the precious metals appeal as an inflation hedge. Full Story
The Italian political crisis has been just what the gold and silver bulls were looking for apart from the Federal Reserve meeting this week. Bank of England Governor Mervyn King said the Group of 20 nations must revive efforts to address global imbalances or more countries may start using exchange rates as their key tool for monetary policy. This is an indirect aim at China and no one else which will not have any impact on currency market. These are just words which will never be followed by actions. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 December, 2012
Gold climbed to as high as $1717.20 by about 8:30AM EST before it drifted back lower for most of the rest of trade, but it still ended with a gain of 0.44%. Silver rose to as high as $33.415 ended with a gain of 0.39%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 December, 2012
New York closed at $1,704.10 up $6 on Friday. This morning, Asian & London dealers lifted prices higher to reclaim the $1,710 level. It was Fixed at $1,708.50 up $11.50 on Friday’s Fixing. In the euro it was Fixed at €1,324.111 up €11.5 while the euro was slightly weaker at €1: $1.203. Ahead of New York’s opening, gold was $1,712.60 and in the euro at €1,326.36. Full Story
SPOT MARKET gold bullion prices rose to one-week highs above $1710 an ounce Monday morning, while European stock markets fell following news that Italy's prime minister plans to resign. "Gold continues to consolidate its gains from August-September, and is still respecting its long term uptrend," says the latest technical analysis from bullion dealing Scotiabank. Full Story
Gold rose in Asian trade overnight and has maintained those gains in European trading. Friday’s economic data showed the US non-farm payrolls higher than expected at 146K and the unemployment rate lower than expected at 7.7%. The data may mask fundamental weakness in the US economy which is seen in much other data – including the continuing rise on those dependent on food stamps. Full Story
We have the Federal Reserve meeting this week. This will be the key. Operation Twist announced in September 2012 by the Federal Reserve will end this month and more bond purchases could be announced at the FOMC meeting this week. The Eurozone and the UK have lowered their growth forecast for 2013 but that will not result in a bear trend in base metals. Stable US growth along with higher Chinese growth next year will result in higher base metal prices next year too. Full Story
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