Gold soared $100.79 to as high as $1358.29 in Asia before it pared back to $1306.59 in London, but it then bounced back higher in New York and ended with a gain of 4.88%. Silver jumped to as high as $18.318 and ended with a gain of 2.25%. Full Story
Ramifications: – There is the real risk of contagion in the EU – UK leaving the EU increases the risk of the EU disintegrating as it greatly increases the risk of France, Italy, Spain, Netherlands and Greece following the UK – This poses risks to the “single currency,” the euro as these nations may revert to their national currencies
Gold is breaking through the 200 week moving average this morning. Don’t forget the intermediate cycle is only on week 3. We should still have 12-15 weeks before the intermediate cycle tops. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 24 June, 2016
We have just witnessed an earthquake of over 8 on the global, monetary Richter scale.
Will we see a Frexit [Marie le Pen has just called for a French referendum and Spain may follow as could the Netherland…….], a Spexit, a Nexit……? This could prove a mortal blow to the E.U. and eventually leave just the strong members remaining, implying, very long term, a much stronger euro. Full Story
Gold edged up to $1270.71 in Asia before it dropped back to $1258.37 in London and then bounced back higher in morning New York trade, but it then chopped back lower in afternoon trade and ended with a loss of just 0.69%. Silver rose to $17.475 before it fell back to $17.205, but it then rallied back higher into the close and ended with a gain of 0.35%. Full Story
- Gold could top $2,000 possibly in 2016 or 2017. - Our guest notes that the founders of this nation: Washington, Franklin, Madison and Jefferson etc., were "Gold Bugs." - A new gold bull market could lift silver and related shares to record levels. - As the smart money like billionaires Jim Rogers / George Soros accumulate gold, tightening supply, demand conditions could boost the prospects of silver. - The world's most useful metal could regain the more traditional gold to silver ratio, perhaps returning to the natural mineral ratio of 10 : 1, sending the silver price north of triple digits.
In other words, British holders of silver are seeing their investment act as a wealth preserver against pound devaluation. I would say that this is exactly what one would expect to see from silver. The question is now whether a vote to leave the European Union will see silver in pounds race to new highs and transform British silver from wealth preservation to wealth appreciation? If the British vote to leave the EU on Thursday, we’ll see if this unfolds into next week. Full Story
Some hedge funds have commissioned their own exit polls in order to get vital intelligence ahead of the market. Thus, sharp moves ahead of the official results may be perceived as certain market participants having advance knowledge of the result. Market manipulation and the usual trading ‘shenanigans’ are to be expected. Another reason to avoid the short term noise and focus on the long term and the importance of owning quality, value assets in a diversified portfolio. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 23 June, 2016
While the Yuan weakened against the dollar, the gold price in Shanghai was slightly stronger than New York, which led the way for London to follow. This showed clearly the small change in direction was due to the influence of Shanghai showing a measure of pricing power.
Gold prices worldwide are ‘on hold’ pending tomorrow’s result in Britain, after which we will see strong movements. Full Story
Gold dipped $4.50 to $1261.40 in Asia before it bounced back to $1269.31 in early afternoon New York trade and then drifted back lower into the close, but it still ended with a gain of 0.02%. Silver rose to as high as $17.33 before it also fell back off, but it still ended with a gain of 0.23%. Full Story
As you can see the mining stocks lagged gold for years and a few months ago just started a new huge powerful trend of leading gold higher and outperforming gold. This is a huge predictor of gains to come for both mining stocks and gold and proves that the gold bears are simply wrong and mistaken. Full Story
By: Gary Christenson, Deviant Investor - 22 June, 2016
Bill Gross has mentioned a “supernova” explosion in the debt markets. If $10 – $40 Trillion in debt collapsed down to near its intrinsic value, the shock, panic, and fear could push gold and silver prices into the stratosphere. Act accordingly. Full Story
I’m expecting the metals to be volatile for a couple of weeks as they build up the energy to break through the 200 week moving average. I do think gold will ultimately break through once the market recognizes the dollar is in trouble. Full Story
The increasingly illiquid physical gold market where supply cannot keep up with demand underlines the importance of owning physical bullion coins and bars – either in your possession or having direct legal title to your individual coins and bars. Bullion should be owned in your name or your company’s name and be stored directly in the safest vaults in the safest jurisdictions in the world – outside the financial, banking system. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 22 June, 2016
The financial world wants a ‘Bremain’ result not a ‘Brexit’ and is discounting it to some extent. This means that a ‘Brexit’ result will cause tremendous turmoil in global markets while a ‘Bremain’ result may provoke a wobble but not turmoil. The polls show the vote still, as ‘too close to call’. Full Story
Ignore the UK exit vote. It is more or less a done deal that UK will remain in the European Union. After the UK vote tomorrow, traders will assess its impact on other European states. Right wing political parties are getting more votes as European voters. The UK poll irrespective of the outcome will only increase their growing mass popularity. I am generally bullish on gold and silver (for the rest of the year) but in this journey there will be interest rate speed breakers. Full Story
Gold fell throughout most of world trade and ended near its late session low of $1264.78 with a loss of 1.88%. Silver slipped to as low as $17.182 and ended with a loss of 1.54%. Full Story
Gold is rallying out of an intermediate cycle low. Gold has completed its bear market and is starting a new bull. Intermediate cycles in bull markets don’t top for at least 14-18 weeks. So quit worrying about a top in gold until August or September ad quit paying attention to the clueless analysts trying to tell you otherwise. Full Story
As ever, speculative money in the futures market appears to be dictating gold prices in the short term. We expect the very robust physical demand will lead to a sharp bounce in gold prices in the medium term. We are hearing of increasing illiquidity in the inter-bank gold market and will look at this in more detail tomorrow. Full Story
Gold fell $20.38 to $1278.02 in London before it bounced back higher in New York, but it still ended with a loss of 0.64%. Silver spiked up to $17.625 by a little before 4AM EST before it dropped back to $17.289 in the next four hours of trade, but it then chopped back higher into the close and ended with a gain of 0.23%. Full Story
The current ratio between gold and copper is showing a “recession-era fear level,” Bloomberg reports. Gold jumped to the most expensive relative to copper since 2009 this week. The price of copper (seen as an economic bellwether), has slumped over Brexit worries, while the low interest rate outlook has fueled demand for bullion – driving the ratio between the two farther apart. Full Story
If Britain votes to leave, BlackRock’s Turnill said “the assets you want are ones that benefit from a risk-off – like gold, potentially areas like long-dated US treasuries”. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 20 June, 2016
The murder of the British MP last week caused a short term, dealer markdown of prices in the gold and silver markets today, at the opening in London. The gold price remains on support and should begin to rise across the world as the respectful sentiment currently ruling, gives way to the underlying global crises and the referendum. The world being what it is, the Brexit ‘in’ and ‘out’ campaigns will resume and the tragedy fall into the background ahead of the vote. It could still go either way. It will remain the cause of this week’s volatility in all global financial markets. Full Story
A final important point is that if the Brexit vote results in Britain leaving the EU, it could potentially unleash a financial tsunami that sees markets crash and gold, silver and other commodities taken down as the dollar soars. It is impossible to say which way this vote will go. The ordinary voting public are being subjected to heavy and relentless and also carefully contrived propaganda by the mainstream media, who are controlled by the elites who are obviously pro the European Union and it remains to be seen whether they can be herded like sheep into voting in the desired manner, as the Scots were, when they succumbed to scaremongering about the consequences of becoming independent. Full Story
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