By: Chris Mullen, Gold-Seeker.com - 2 October, 2015
Gold jumped up to as high as $1141.02 by midmorning in New York before it drifted back lower at times, but it still ended with a gain of 2.06%. Silver surged to as high as $15.309 and ended with a gain of 4.67%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 October, 2015
New York closed with the gold price at $1,114.30 down from $1,116.00. With China closed and the pre London opening seeing the gold price fall to $1,110 we find it difficult to accept such a fall when no market is open. When London opened the gold price slipped again to be set at $1,106.30 at the LBMA gold setting. The dollar Index was at 96.30 at the time and the dollar trading against the euro at $1.1165. In the euro the fixing was €990.86 down from €998.48. Ahead of New York’s opening gold was trading at $1,107.3 and in the euro at €992.12. Full Story
If the continuing depression in precious metal prices has a silver lining, it is the enormous surge in demand world-wide for silver. With most mints and brokers experiencing higher than expected demand for silver coins, many are having to set weekly sales quotas after record coin sales. Full Story
By: Chris Mullen, Gold-Seeker.com - 1 October, 2015
Gold dropped $4.50 to $1111.50 in Asia before it bounced back to $1117.96 in midmorning New York trade, but it then drifted back lower into the close and ended with a loss of 0.15%. Silver slipped to as low as $14.476 and ended with a gain of 0.14%. Full Story
– Stocks face worst quarter since 2011 over fears for global economy – Global economy concern as China slows down sharply – Concern over Federal Reserve stewardship – Increasing nervousness over U.S. earnings outlook – Stock markets of the world’s ten largest economies are currently in red – Gold rose 1.5% in GBP, 2.4% in Swiss franc and 4.6% in Canadian dollar – Gold down 4.5% in USD while global stocks fall 5% to 13% – Stocks remain overvalued and still opportunity to re-balance into gold Full Story
By: Julian D. W. Phillips, Gold Forecaster - 1 October, 2015
We pointed to the possibility of a series of financial markets falls yesterday, similar to 2008. Then the gold price fell from $1,200 to below $1,000, before turning around and soaring to a record $1,921. At that time the U.S. was very long of gold, which was sold off to cover margin calls and provide liquidity to cover shortages. Some believe that we will see the same again soon. The difference between then and now is that the U.S. holdings of gold were not rebuilt after the massive sell-off in April 2013. Full Story
Momentum is bearish for gold and silver. They need to trade over $1098 and $1419 to prevent another sell off. Indians and Chinese where markets are closed tomorrow will postpone their purchases to Monday if gold and silver fall further today. US September private ADP numbers is good and gives an view that an interest rate rise can happen anytime. Full Story
By: Chris Mullen, Gold-Seeker.com - 30 September, 2015
Gold fell almost $15 by midmorning in New York before it bounced back higher into the close, but it still ended with a loss of 1.01%. Silver slipped to as low as $14.481 and ended with a loss of 0.6%. Full Story
In his article for Bloomberg Business Ranjeetha Pakiam takes a look at China’s recent accumulations in gold and how the country now compares in the world league table on gold holdings. He observes that there is a deliberate policy of increased transparency in China “as the country improves data quality, increases its presence in commodities trading and promotes the international role of the yuan”. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 30 September, 2015
With the Shanghai Gold Exchange closed tomorrow and for the next ‘Golden’ week, an opportunity arises for another ‘bear raid’ on the gold price. But Chinese demand will reappear after that week including the demand that could not be met because of the holiday. Full Story
By: Chris Mullen, Gold-Seeker.com - 29 September, 2015
Gold dipped $7.04 to $1124.76 in London before it bounced back to $1134.57 in midmorning New York trade and then fell back off again in the next four hours of trade, but it then edged back higher into the close and ended with a loss of just 0.39%. Silver slipped to $14.503 before it climbed up to $14.727 and then also fell back off, but it still ended with a gain of 0.34%. Full Story
This is a very important story that shows how China and Russia are becoming increasingly close and strong allies who are flexing their muscles and asserting themselves as rival superpowers to the U.S.
The Chinese are very aware of the importance of symbolism and this appears to be a subtle show of allied force and underlines the strength of their deepening alliance with Russia. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 29 September, 2015
What we are seeing now is a set of global markets fearful of a breakdown in prices. As prices fall, not just in commodities, but equity markets, we become very aware of the massive levels of debt that is sitting in the hands of individuals, corporates, governments’ et al. Because of this we see occasional collapses of value as this becomes recognized. Glencore, the mining giant and broker has seen its share prices buckle in Australia today. With debt twice the level of its market capitalization, their situation well expresses the fears sensitizing the markets at all levels. Full Story
Momentum is bearish for industrial metals. Concerns over Chinese economic growth has resulted in industrial metals falling. Gold is still hanging over $1120. Silver is on the edge of another selloff and it needs to trade over $1439 for the whole day. Copper needs to trade over $219.60 till Friday to prevent another sell off. Full Story
By: Chris Mullen, Gold-Seeker.com - 28 September, 2015
Gold fell $18.52 to $1128.08 by a little before 9AM EST before it bounced back higher into midday, but it still ended with a loss of 1.29%. Silver slipped to as low as $14.507 and ended with a loss of 3.25%. Full Story
The third quarter of the year is coming to an end. This year every one of us has been excessively obsessed with a US interest rate hike. Very few correctly anticipated the crash of the Chinese stock market crash. Traders, investors and all are still obsessively hanging on to these two factors for their investment call on currency markets and metals and energy investments. Full Story
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