Gold climbed $5.20 to $1178.30 in late Asian trade before it fell back to $1168.71 in London, but it then bounced back higher in New York and ended with a gain of 0.09%. Silver rose to as high as $15.918 and ended with a loss of 0.44%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 June, 2015
New York closed at $1,173.10 down $1.30. Asia took it up $2 and London held it there. The dollar was weaker at $1.1217 up from $1.170 and the dollar Index was lower at 95.10 down from 95.44. The gold price was set this morning at $1,174.40 down only 20 cents. The euro equivalent was €1,047 96 down €3.61. Ahead of New York’s opening, gold was trading in London at $1,174.10 and in the euro at €1,048.40. Full Story
- “Gold remains in secular bull market” - System is addicted to unsustainable debt - Persistent deflationary forces threaten system - Monetary authorities to take increasingly risky measures to engender inflation - Debt based monetary system is crux of problem - “All available means” deployed to prevent global government bond bubble from bursting - Aversion to owning any gold whatsoever displays “ignorance of monetary history” - Gold’s qualities as store of value and medium of exchange to be “rediscovered” - Have “gold price target of USD 2,300” in three years Full Story
Gold edged up to $1178.14 in Asia before it fell back to $1172.01 in London and then bounced back higher in New York, but it still ended with a loss of 0.11%. Silver slipped to as low as $15.79 and ended with a loss of 0.19%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 June, 2015
New York closed at $1,174.40 down $3.20. Asia took it up $3 but London sent it back to New York’s closing level. The dollar was stronger at $1.1170 down 0.31 of a cent and the dollar Index was higher at 95.44 up from 95.20. The gold price was set this morning at $1,174.60 down $1.15. The euro equivalent was €1,051.57 down €1.89. Ahead of New York’s opening, gold was trading in London at $1,173.45 and in the euro at €1,048.00. Full Story
- Former U.S. Congressman blasts Fed’s role in markets - Gives scathing analysis of modern economics and markets - Highlights complete disregard of economic fundamentals in investment decisions today - As will be the case with Greece, U.S. will eventually be forced to liquidate debt - Attempts to forecast day of reckoning are futile as it is a function of psychology - “They can’t print money forever” - Gold and silver will weather and thrive in currency devaluation Full Story
Gold edged up to $1180.10 at about 6AM EST before it fell back to $1171.17 in London and then bounced back higher in New York, but it still ended with a loss of 0.27%. Silver bounced back to $15.935 and ended with a gain of 0.44%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 June, 2015
New York closed at $1,177.60 down $7.50. Asia held the price at New York’s close and then London took it down $2 at the opening. The dollar was stronger at $1.1201 up 0.60 of a cent and the dollar Index was higher at 95.20 up from 94.81. The gold price was set this morning at $1,175.75 down $7.60. The euro equivalent was €1,049.68 down €4.86. Ahead of New York’s opening, gold was trading in London at $1,177.60 and in the euro at €1,051.71. Full Story
- GoldCore interview with Kerry Lutz on the Financial Survival Network - Gradual realisation that central bank “masters of the universe” -“We all know that bad stuff is going to happen, we just don’t know when it is going to happen” -“The penny is beginning to drop that … we are coming very close to the end of the road” - Prevailing wisdom that can print currencies with reckless abandon not being questioned - We need a free market in currencies, not bail-ins and a war on cash and gold - People blindly trust “experts” so welcome that some of them giving prudent advice re diversification Full Story
Gold fell $8.86 to $1176.24 in early New York trade before it bounced back higher at times, but it still ended with a loss of 0.63%. Silver slipped to as low as $15.761 and ended with a loss of 2.28%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 June, 2015
New York closed at $1,185.10 down $7.90. Asia held the price at New York’s close and then London took it down $2 at the opening. The dollar was stronger at $1.1261 but looked like weakening in London and the dollar Index was higher at 94.81. The gold price was set this morning at $1,183.35 down $10.35 with the dollar at $1.1224 and the dollar index stood at 95.05, yesterday. The euro equivalent was €1,054.54 up €3.19. Ahead of New York’s opening, gold was trading in London at $1,183.60 and in the euro at €1,054.90. Full Story
- Doubts over City of London’s “fintech” in age of cyber war - Thousands left in “financial limbo” after tech “error” - 600,000 RBS customer payments go “missing” in “system failure” - Glitch comes after bank was fined £56 million in November for 2012 tech fiasco - Failure is “the latest of many in the industry” – Treasury Committee - Banks “ageing tech systems” ill-equipped to deal with cyber-terrorism, cyber-war - Gold coins, bars held outside tech dependent banking system not vulnerable to cyber-attacks Full Story
Gold fell $18.70 to $1182.10 by midmorning in New York before it bounced back higher at times, but it still ended with a loss of 1.31%. Silver slipped to as low as $16.036 at one point, but it then jumped back to $16.26 and ended with a gain of 0.56%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 June, 2015
New York closed at $1,193 down $9.10. We do not believe that this was to do with Greece. The gold price was set this morning at $1,193.70 with the dollar at $1.1354 slightly weaker than Friday and the dollar index stood at 94.19, not far different from Friday’s level. The euro equivalent was €1,051.35 down €7.55. Ahead of New York’s opening, gold was trading in London at $1,193.60 and in the euro at €1,051.68. Full Story
- Hold physical cash “including gold and silver” says manager in one of largest mutual fund and financial services groups in the world - “Systemic risk” threat to deposits says respected Fidelity fund manager - Record global debt unlikely to be sustained by higher interest rates - Banks may not be prepared for “shock” of defaults - Guarantees to depositors unlikely to be honoured - Savers and investors should hold “physical currencies” “including precious metals” Full Story
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