By: Chris Mullen, Gold Seeker Report - 29 September, 2017
Gold edged up to $1290.10 at about 8:45AM EST before it drifted back lower into the close, but it ended with a loss of just 0.5%. Silver slipped to as low as $16.632 and ended with a loss of 1.13%. Full Story
– Gold climbs over 12% in YTD, matching SPX500 performance – Palladium best performing market, surges 36% 2017 YTD – Gold outperforms Nikkei 225, Euro Stoxx 50, FTSE and ISEQ – Geo-political concerns including Trump and North Korea supporting gold – Safe haven demand should push gold higher in Q4 – Owning physical gold not dependent on third party websites and technology remains essential Full Story
The good thing about October is that the interest rate factor by the Federal Reserve will not be there. The next FOMC meet is on the 1st of November. The interest rate factor will not haunt gold and silver in October unless chances of a no hike are there in December. Europe and Japan will take center stage in October as Japan goes for snap polls and Germany’s politics take shape. The USA will make it to the headlines if Trump’s tax reforms turns out to be a big dud. In case the US senate does not pass the Trump tax reforms then the US dollar will nosedive in the short term. Full Story
By: Chris Mullen, Gold Seeker Report - 28 September, 2017
Gold saw slight losses in Asia, but it then chopped back higher in London and New York and ended near its late session high of $1288.70 with a gain of 0.2%. Silver rose to as high as $16.892 and ended with a gain of 0.54%. Full Story
– “Going off gold did the opposite of what many people think” – FT Alphaville – “Surprising” findings show benefits of Gold Standard – Study by former Obama advisor in 1999 and speech by Bank of England economist in 2017 make case for gold – UK economy was ‘much less prone to extremes’ under than the gold standard – research shows – ‘Gold standard seems to have produced fewer catastrophes for Britain’ – data shows Full Story
Trump tax plans if passed can result in nearly one percent more GDP growth to the US economy every year. This optimism resulted in gains for the US dollar and the fall in precious metals. Lack of escalation in North Korean risk also added to losses for gold and the yen. My fear is that US corporations can use the reduced taxes as an opportunity of share buy backs instead of paying dividends. Full Story
By: Chris Mullen, Gold Seeker Report - 27 September, 2017
Gold fell $13.20 to $1282.70 in early New York trade before it bounced back higher at times, but it still ended with a loss of 0.93%. Silver slipped to as low as $16.679 and ended with a loss of 0.53%. Full Story
– Listen to Jesse Livermore and ignore the noise of short term market movements, central bank waffle and daily headlines – Stock and bond markets are overvalued but continue to climb… for now – What goes up must come down and investors should diversify and rebalance portfolios despite market noise – Behavioural biases currently drive markets, prompting legendary investors to be confused and opt out Full Story
Mutual funds will be allowed to trade in the Indian commodity markets in the next six months. This is a sign of the maturity of Indian commodity markets. Indian commodity markets started in 2003 and has overcome a number of hurdles to get at par with developed nations. Options are being gradually started in metals and will slowly move onto to other commodities. Fading trading volumes due to demonetization and bucketing are a thing of the past now. Volumes will now zoom in all commodities trading in India. Full Story
By: Chris Mullen, Gold Seeker Report - 26 September, 2017
Gold saw slight gains at $1313.40 in Asia before it fell back to $1293.50 in early afternoon New York trade and then bounced back higher at times, but it still ended with a loss of 1.11%. Silver slipped to as low as $16.777 and ended with a loss of 1.81%. Full Story
Gold finished sharply higher on Monday, recouping roughly half of last week’s loss, as declines in the U.S. stock market and growing tensions between the U.S. and North Korea lifted prices for the yellow metal to the highest settlement in more than a week. December gold rose $14, or 1.1%, to settle at $1,311.50 an ounce. Prices, which lost about 2.1% last week, saw their highest finish since Sept. 15, according to FastSet data as reported by Marketwatch. Full Story
North Korea comes to the rescue of gold and silver bulls. Germany’s election result and Japan’s snap election calls are also supporting gold. A war with North Korea can result in gold and silver rising twenty percent over the next few months. I am serious and not joking. Gold prices will fall whenever markets ignore North Korean risk. Sentiment is hyper bullish for gold. Gold demand is everywhere be it ETF, jewelry or physical investment. Full Story
By: Chris Mullen, Gold Seeker Report - 25 September, 2017
Gold dropped $6.10 to $1290.90 in both Asia and London, but it then shot back higher into the close and ended near its late session high of $1311.10 with a gain of 1.03%. Silver rose to as high as $17.164 and ended with a gain of 1.00%. Full Story
– ‘Commodities King’ Gartman sees $1,400 gold surge in months – “Gold is the one currency that will do the best of all…” – Pullback below $1300 “is relatively inconsequential” – Use gold price weakness to be a buyer “no question” – Bullish on gold due to central banks and easy monetary policy and gold will be even higher in euro terms Full Story
Fundamentally the US economy is strong enough to withstand an interest rate hike. Central banks stance of various economic matters like interest rates also tell us their currency stance. Currency market moves in the third quarter will be the key to precious metals and base metals. The third quarter of the year favored US dollar bears. If fundamentals dictate currency markets in the final quarter, the final quarter should belong to US dollar bulls. Full Story
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