By: Chris Mullen, Gold-Seeker.com - 13 April, 2017
Gold gained $7 to $1288.50 in London before it dropped back to $1281.90 at about 10AM EST, but it then rallied back higher into the close and ended with a gain of 0.47%. Silver climbed to $18.602 before it dropped back to $18.417, but it then bounced back higher in late trade and ended with a gain of 0.49%. Full Story
Gold is poised to crack the critically important $1291 level which is a trendline going to back to the all time high on September 22nd 2011 when gold hit $1922 an ounce. Conclusively breaching this trendline is to say we are very much back in a bull run. With $1291 breached there would only be the minor inconvenience of the psychologically important $1300 level - more of a speed bump than a real resistance level - before gold is able to move move higher largely unfettered. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 April, 2017
If the gold price can climb above $1,290 all vestiges of overhead resistance will have evaporated. Yes, the $1,300 level to $1,320 area may well cause a pause in the climb of the gold price for a short while, but essentially the mood for gold and silver will have changed to the upside, it seems. There was no physical buying into the U.S. based gold ETFs yesterday. Despite this the gold price jumped through overhead resistance to current levels. Full Story
– Perth Mint’s silver bullion sales rise 43% in March – Perth Mint’s monthly gold coin, bars sales fall 12% – Gold silver ratio of 32 – 32 times more silver ounces sold – Gold: 22,232 oz and Silver: 716,283 oz – bullion coins and minted bars sold – Gold is 2.6% higher and silver surged 3.1% in the shortened week with markets closed for Good Friday tomorrow Full Story
By: Chintan Karnani, Insignia Consultants - 13 April, 2017
Only profit taking can now bring down gold and silver. If gold and silver rise till close then massive short covering will be there today as well as on Monday. It is a happy Easter for gold and silver bulls. Technically Monday’s close will decide how much gold and silver will rise till end June. Gold will fall or correct once investor focus switches to American economic growth and global growth. Full Story
By: Chris Mullen, Gold-Seeker.com - 12 April, 2017
Gold saw slight gains in Asia and London and jumped up to $1277.90 by a little before 8:30AM EST before it dropped back to $1272.40 in the next hour of trade, but it then shot back higher into the close and ended near its late session high of $1283.60 with a gain of 0.7%. Silver rose to as high as $18.439 and ended with a gain of 0.82%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 April, 2017
We were wrong about more consolidation yesterday. Consolidation is a very difficult process to gauge accurately in terms of timing. It is a process of demand matching supply to the point where a small sale or purchase can make the next move a strong one. We did not realize that this point was reached yesterday, suddenly. After all it has been several weeks since the gold price has been building up sufficient strength to effectively tackle overhead resistance at $1,260, the 200-day average. Yesterday saw it do so, when an ascending top breakout was confirmed technically. Full Story
Gold’s move was a traditional flight to safety following the US’ missile attack on Syria and Trump making aggressive sounds regarding intervention against North Korea including tweets. The weak jobs report also prompted fears that future Fed interest rate hikes could be delayed or slowed and this has provided further support for the price of gold. Tensions between Syria, Russia, North Korea and the US underline the serious geo-political risks. There is the real risk of a serious military confrontation. This is creating uncertainty which is an environment that serves gold best. Full Story
By: Chintan Karnani, Insignia Consultants - 12 April, 2017
Gold and silver have failed to take advantage of positive situations since 2013. The pace of rise in gold and silver has been very disappointing. It is one of the reasons why I am short term cautious. Long term bullishness is intact. The World gold council (WGC) has over the past year tweeted news industrial uses of gold. The gold price so far has been largely dependent on investment flows and jewelry sector demand. Higher industrial demand implies that once the global interest rate hike cycle tops out (at the most by 2018), the pace of rise of gold prices will be much much quicker than expectations. Full Story
By: Chris Mullen, Gold-Seeker.com - 11 April, 2017
Gold saw only slight gains in Asia and London, but it then rallied higher throughout most of trade in New York and ended near its midafternoon high of $1275.10 with a gain of 1.46%. Silver rose to as high as $18.318 and ended with a gain of 1.9%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watchs - 11 April, 2017
The Syria strike by the U.S. has not heightened tensions between Russia and the U.S. as much as the markets first discounted. It appears that Russia is satisfied with chest beating without action, simply a warning that the U.S. will be met by force next time. If there is another gas attack soon the situation could deteriorate substantially. Meanwhile, the markets, as we thought they would have retreated to where they were before the missile strike. Full Story
– Bank of England implicated in LIBOR scandal by BBC – “We’ve had some very serious pressure from the UK government and the Bank of England about pushing our Libors lower.” – “This goes much much higher than me” -UBS’ Tom Hayes – Libor distraction as all markets are manipulated today – Central bank’s “rigging” bond markets and likely gold – Risks of bank ‘holidays’, capital controls and of course bail-ins remains Full Story
By: Chintan Karnani, Insignia Consultants - 11 April, 2017
Traders and everyone are on the sidelines due to uncertainty over Trump’s policies. Unless something very serious happens in Syria, bullion will not zoom. Mass genocide is something which has been ignored by markets. Gold and silver are still on the way to test key resistances. I prefer to ignore interest rate moves by the Federal Reserve. There has been too much hype over the same over the past few years. The US economy is robust. Interest rates will be hiked. Gold bulls will be able to overcome interest rate hikes by the Federal Reserve and other central bankers. But it is difficult to project the pace of rise. Full Story
By: Chris Mullen, Gold-Seeker.com - 10 April, 2017
Gold saw a slight gain at $1255.80 in Asia before it fell to see a $7.20 loss at $1247.40 at the open of trade in New York and then rallied back to $1256.30 by midday, but it then chopped back lower in early afternoon trade and ended with a loss of 0.02%. Silver edged up to $18.015 before it dropped back to $17.748 and then also climbed back higher, but it still ended with a loss of 0.28%. Full Story
Currently, many pension funds, like the one in Houston, are scrambling to slightly lower return rates, issue debt, raise taxes or increase contribution limits to fill some of the gaping holes of underfunded liabilities in their plans. The hope is such measures combined with an ongoing bull market, and increased participant contributions, will heal the plans in the future. This is not likely to be the case. Full Story
By: Chintan Karnani, Insignia Consultants - 10 April, 2017
Gold and silver have in fact fallen despite the war. Traders are used to it. A much lower than expected US march job numbers failed to lift gold and silver. This is disappointing. I am against taking fresh long positions in gold and silver unless it breaks $1280 and $1860 respectively. Traders have started factoring a June interest rate hike. Yellen and other Federal Reserve speeches need to be ignored for the time being. Industrial metals should remain firm. Full Story
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