By: Chris Mullen, Gold Seeker Report - 15 December, 2017
Gold gained $8.90 to $1261.90 by a little after 8AM EST before it dropped back to $1253.50 by late morning, but it then edged back higher into the close and ended with a gain of 0.22%. Silver rose to as high as $16.08 and ended with a gain of 0.88%. Full Story
– Gold expected to build on 2017 gains into 2018 despite headwind conditions – Gold has gained more than 9% in the year-to-date – Monetary policy and policymakers will continue to be “significant drivers of gold demand” – Physical and structural market changes will support gold into 2018 – Goldcore has been at forefront of reporting on major developments in gold market and price Full Story
The European central bank meeting was a dud. I do not believe in their inflation targets. The trend for the US dollar is still bearish. Gold and silver can see small periods of big one way rises followed by long periods of consolidation. Copper is bullish. I will prefer to use a buy on dips strategy as long as crude oil trades over $55 for the rest of the day. Global year end travel season will begin from tomorrow. Travel related energy demand will rise for a month. Full Story
By: Chris Mullen, Gold Seeker Report - 14 December, 2017
Gold gained $3.90 to $1259.10 in early Asian trade before it fell back to $1250.60 by midmorning in New York, but it then chopped back higher into the close and ended with a loss of just 0.18%. Silver slipped to as low as $15.829 and ended with a loss of 0.93%. Full Story
– FOMC follows through on much anticipated rate-hike of 0.25% – Spot gold responds by heading for biggest gain in three weeks, rising by over 1% – Final meeting for Federal Reserve Chair Janet Yellen – Yellen does not expect Trump’s tax-cut package to result in significant, strong growth for US economy – No concern for bitcoin which ‘plays a very small role in the payment system’ Full Story
Traders had priced in four interest rate hikes for next year. The Federal Reserve says three. This resulted in the US dollar falling and gold and silver getting a boost. All is not over. The European central bank and the Bank of England meetings can affect the markets. America’s growth outlook for 2018 has been raised. If the ECB and BOE also raise their growth forecast for next year, then the US dollar could see another sell off and gold and silver could get back some of the lost investor confidence. Full Story
By: Chris Mullen, Gold Seeker Report - 13 December, 2017
Gold fell $4.20 to $1240.20 in London, but it then jumped to as high as $1256.80 in afternoon New York trade and ended with a gain of 0.87%. Silver surged to as high as $16.146 and ended with a gain of 2.03%. Full Story
– UK inflation hits 3.1%, highest in nearly six years – UK earnings flat – households are still suffering falling real wages – Stagflation risk as food and drink prices jumped 4.1% in 12 months – UK house prices fall two-months in a row, down 0.5% in October – Real stagflation risk now, inflation high and growth slowing – Savings continue to be eaten by inflation Full Story
By: Chris Mullen, Gold Seeker Report - 12 December, 2017
Gold edged up to $1246.20 in Asia before it fell back to $1236.50 in late morning New York trade, but it then bounced back higher in afternoon trade and ended with a gain of 0.13%. Silver rose to as high as $15.815 and ended with a gain of 0.06%. Full Story
– Gold and silver COT suggests bottoming and price rally coming – Speculators cut way back on long positions and added to short bets – Commercials/banks significantly reduced short positions – Commercial net short position saw biggest one-week decline in COMEX history – ‘Big 4’ commercial traders decreased their short positions by 28,800 contracts – Seasonally, January is generally a good month to own gold (see table) – “If history is still reliable, January will be a great month to own precious metals” Full Story
By: Chris Mullen, Gold Seeker Report - 11 December, 2017
Gold edged up to $1251.50 in London, but it then fell back off for most of trade in New York and ended near its late session low of $1240.90 with a loss of 0.41%. Silver slipped to as low as $15.689 and ended with a loss of 0.76%. Full Story
The deeper you’re into crypto – perhaps you’re into monero or dash or some other altcoin – the harder it will be to get out into fiat. The diehards will tell you never need to leave crypto. That may be so, but many will not feel the same way in a bear market. If there is a rush into the arms of fiat, the point of transfer from crypto to fiat is where the issues are going to be. Full Story
The trend of global financial markets after the FOMC meet will be interesting. Bitcoin futures has started at CBOT. The CME will start BTC futures next week. The world is attracted to bitcoin and crypto currencies. It remains to be seen how negatively the ever rising trading volumes in BTC/crypto currencies affect stock markets and bond markets globally. Full Story
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