By: Chris Mullen, Gold-Seeker.com - 14 February, 2014
Gold climbed to as high as $1320.35 at about 10AM EST before it chopped back lower at times, but it still ended with a gain of 1.3%. Silver surged to as high as $21.454 and ended with a gain of 4.58%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 February, 2014
The New York gold price broke through the big figure to $1,301.70, up $11.20, at the close on Thursday in New York. Asia took it higher to $1,310 ahead of London’s opening. London held it there before Fixing the gold price at $1,308.50 up $18.25. In the euro, it Fixed at €955.598 up €11.94, while the dollar stood at $1.3693, weaker again. Ahead of the opening in New York gold stood at $1,314.00 and in the euro at €959.61. Full Story
This morning bullion for immediate delivery rose another 1.1% to $1,317.70 an ounce, the highest price since November 8, and traded as high as $1,319.51/oz in London. It is the seventh straight day of gains - the longest stretch of gains since July 2011. Gold is up 3.3% this week and headed for the biggest weekly advance since October as U.S. economic data was again worse than expected. This increased safe haven demand and the biggest exchange-traded product saw holdings rise to a two-month high. Full Story
Bad retail sales numbers along with further snowy weather in the USA implies that the Federal reserve may not taper next month. This resulted in gains for gold and silver. Sell stop losses were triggered on a break of $1300 and $2056 for gold and silver. A daily close over $1311 today will be hyper bullish for gold for next week. Full Story
By: Chris Mullen, Gold-Seeker.com - 13 February, 2014
Gold edged down to $1286.47 in late Asian trade, but it then climbed to a high as $1302.58 in New York and ended with a gain of 0.84%. Silver rose to as high as $20.528 and ended with a gain of 1.53%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 February, 2014
The New York gold price rose slightly to $1,290.90 up $1.00 at the close on Wednesday. Asia held it there ahead of London’s opening. London held it there before Fixing the gold price at $1,290.25 up $3.75. In the euro, it Fixed at €943.648 up €0.812, while the dollar stood at $1.3673, almost unchanged. Ahead of the opening in New York gold stood at $1,292.50 and in the euro at €945.88. Full Story
Federal Reserve Bank of St. Louis President James Bullard said Fed officials will probably be careful about altering the pace of their reductions to bond buying because of a potentially significant impact on markets. In my view the Federal reserve wants to withdraw from cheap money policy at the same time ensuring that US stock markets do not fall by much. This implies that in the short term apart the pace of tapering will be slow. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 February, 2014
Gold saw slight losses in Asia before it rallied up to $1296.01 by early afternoon in New York, but it then drifted back lower into the close and ended with a gain of just 0.08%. Silver rose to as high as $20.39 before it also fell back off and ended unchanged on the day. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 February, 2014
The New York gold price rose strongly to $1,289.9 up $15.30 at the close on Tuesday. Asia saw it slip slightly to $1,285 ahead of London’s opening on Wednesday. London held it there before Fixing the gold price at $1,286.50 up $3.75. In the euro, it Fixed at €942.836 up €4.742, while the dollar stood at $1.3645, slightly stronger. Ahead of the opening in New York gold stood at $1,287.00 and in the euro at €943.76. Full Story
US labor markets will improve as the weather turns hot. I do not foresee any significant increases in jobs growth in February. However I see US employment to start rising from March and April. US factories and the services sector will employ more before the Easter vacations in April. I expect a big rise in Easter sales in the USA and the Eurozone. We expect further monetary policy withdrawal from April onwards. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 February, 2014
Gold climbed $12.78 to $1287.38 at about 8AM EST before it fell back to $1276.23 in the next 45 minutes of trade, but it then rose to a new session high of $1292.22 by late morning in New York and ended with a gain of 1.2%. Silver slipped back to $19.939 before it rebounded to $20.27 and then fell back off in early afternoon trade, but it still ended with a gain of 0.75%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 February, 2014
The New York gold price was almost unchanged at $1,274.60 up $7.50 at the close on Monday. Asia took it up to $1,285 ahead of London’s opening on Tuesday. London pulled it back $2 initially before London set the gold price at $1,282.75 up $9.25 up on Monday. In the euro, it Fixed at €938.094 up €4.238, while the dollar stood at $1.3674, again, weaker. Ahead of the opening in New York gold stood at $1,284.30 and in the euro at €939.78. Full Story
Federal reserve Chairman's testimony before the US congress will be the key. I am not concerned over the interest rate outlook which I believe will be hawkish. Forward guidance on the US economy will be the key. So far this year the bank of England and the European central bank forward guidance of previous years have not been followed. Investors will not follow forward guidance of central banks if they keep on backtracking on the same. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 February, 2014
Gold climbed $10.78 to $1277.88 at about 8:20AM EST before it chopped back lower at times, but it still ended with a gain of 0.59%. Silver rose to as high as $20.287 and ended with a gain of 0.1%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 February, 2014
The New York gold price was almost unchanged at $1,267.10 up nearly $10 at the close on Friday. Asia took it up to $1,272.50 ahead of London’s opening on Monday. London set the gold price at $1,273.50 up $13.50 up on Friday. In the euro, it Fixed at €933.856 up €5.132, while the dollar stood at $1.3637, again, weaker. Ahead of the opening in New York gold stood at $1,273.18 and in the euro at €933.72. Full Story
The next Federal reserve meeting is on 18-19 March -- by this time there will be more clarity in the progress of the US economy -- US economic data releases until 19th March will be the key as it will decide whether further tapering is needed or not. Full Story
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