Gold fell $8.30 to $1259.70 in Asia before it jumped up to $1279.00 in late morning New York trade and then drifted back lower in early afternoon action, but it still ended with a gain of 0.8%. Silver rose to as high as $17.571 and ended with a gain of 1.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 2 June, 2017
As the gold price trading range tightens to a breakout point, we look at the silver price which is presenting a different Technical picture. If the gold price falls the silver price will tumble according to the charts. But if gold rises the silver price will follow as usual. But such a rise will change the Technical picture quite dramatically to the upside. Either way the silver price will prove more explosive than the gold price. Full Story
•Trump pulls out of Paris Climate Accord •Gold pauses ahead of non-farm payrolls data •In Gold We Trust 2017 released •Reports on the ‘Everything Bubble’ •On average gold is up 5.88% ytd, since start of 2017. •Trump ‘was the trigger of the sudden reverse thrust of the gold price’ •Reorganization of the global monetary order considered a ‘grey swan’ Full Story
Gold fell $6.60 to $1261.60 at about 8:30AM EST, but it then bounced back higher in afternoon trade and ended with a loss of just 0.02%. Silver slipped to as low as $17.039 and ended with a loss of just 0.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 June, 2017
The dollar continues to weaken slightly and the gold price in the dollar continues to rise, as it is doing in all currencies except the Yuan. The Technical picture shows that it is above resistance but has not yet run as it would have done in the past. Instead it is showing a steady plod with higher lows and higher highs. As we have been pointing out in the Shanghai section above, the influence of Shanghai on the gold price is visible. Its slow plod higher, we see, as evidence of Chinese price dominance at the moment. Full Story
Yesterday gold hit $1,273.74/oz, a level not seen for five weeks. Analysts point to some safe-haven demand for the yellow metal on account of the geopolitical tensions, upcoming UK elections and tomorrow’s non-farm payroll data. We suggest investors look beyond data releases and political peacocking, and instead look at what the greater picture shows which is uncertainty on all fronts. Full Story
In June the factors that I will be looking at are: (a) The impact of May nonfarm payrolls on US interest rate hikes for the rest of the year (b) UK elections. A bad performance by Ms. Theresa May can result in zooming of gold prices on safe haven demand and vice-versa. (c) The situation in Philippines should never be ignored due to its strategic location. If the war with ISIS in Philippines spreads to some geographical area in the nation, gold prices will be positively affected. (d) Direction of bitcoin will also affect gold prices. Full Story
Gold saw slight losses for most of trade in Asia before it climbed up to $1274.10 in early afternoon New York trade and then chopped back lower at times, but it still ended with a gain of 0.4%. Silver rose to as high as $17.419 and ended with a loss of 0.52%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 31 May, 2017
Silver closed at $17.41yesterday after $17.32 at New York’s close Friday. A glance back over the last couple of weeks shows that the silver price pointed the way for gold. It fell just ahead of the fall in the gold price and is now rising as the gold price consolidates at lower levels. Is it leading the way for gold? Full Story
Hedge fund, PhD statistician claims gold market is “the most blatant case of manipulation” PhD: “Statistically impossible unless there’s manipulation occurring” Gold serves as political chips on the world’s financial stage. Price is being suppressed until China gets the gold that they need Gold will go higher when all central banks ‘confront the next global liquidity crisis’ ‘When that happens, physical gold may not be available at all.’ Full Story
By: Chintan Karnani, Insignia Consultants - 31 May, 2017
The current fall in gold and silver is profit taking which will turn into a bearish zone only if it continues to fall next week. Today till Monday’s Asian session, both rises and falls can be bluffing. Since the rise in geopolitical risk has not affected bullion, it will be a technical trade till Friday. US jobs numbers are there. Over the past few months I have seen that Friday’s reaction to the numbers have been opposite to what they should be. Full Story
Gold edged up to $1270.40 in Asia before it drifted back down to $1259.50 at about 8:30AM EST and then bounced back higher into midday, but it still ended with a loss of 0.31%. Silver gained $0.15 to $17.47 in Asia before it dropped back to $17.215 in early New York trade, but it then rallied back higher into the close and ended with a gain of 0.52%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 May, 2017
While Shanghai is closed we feel it opportune re-make an important point on what is going on with the authorities in China, with reference to overall markets there. China wants to gain a reputation of being a reliable, reputable source of prices. This, in the first place, means reducing the volatility, on a permanent basis, that characterized its markets. Its people have become deeply untrusting of equity markets due to its past extreme volatility. Full Story
New gold-backed currency OneGram launched Backed by one-gram of gold, uses blockchain technology OneGram is first in wave of new Shariah, tech-savvy gold products 2017 sees big changes for gold thanks to Shariah gold and blockchain Gold investors should prepare for tightening in supply Bitcoin and shariah gold demand suggest change in retail investor thinking Full Story
Bitcoin hits $2,700, a 500 fold increase in five years and doubling in price since May 1st. Previous surges – in 2011 and 2013 – have been followed by dramatic crashes Significant premiums seen in Asia, over USD price Total cryptocurrency market cap reached over $90bn, last week Market remains small and volatile Comparisons between bitcoin and gold are old, invalid and misleading Both bitcoin and gold offer opportunities to diversify away from corrupt financial system Full Story
By: Chintan Karnani, Insignia Consultants - 29 May, 2017
It is a big week for the US dollar as well as gold, silver and industrial metals. US May nonfarm payrolls will set the trend for the US dollar and also decide whether there will be more than one interest rate hike by the Federal Reserve this year. UK elections trends can result in safe haven demand for gold from the nation. India will decide the GST rate on gold sales and jewelry sales this week too. Full Story
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