Gold edged up to $1184.26 in Asia before it fell back to $1177.38 in London and then bounced back to $1183.39 by midmorning in New York, but it still ended with a loss of 0.04%. Silver slipped to as low as $15.849 and ended with a loss of 0.62%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 June, 2015
New York closed at $1,181.50 down $4.70. Today sees the dollar stronger at $1.1189 up from $1.1271 nearly a cent stronger against the euro with the dollar index stronger at 95.40 up from 95.03. The LBMA Gold Price was set at $1,179.25 down $1.25 with the equivalent euro price at €1,053.98 up €6.18. Ahead of New York’s opening, gold was trading in London at $1,181.10 and in the euro at €1,055.26. Full Story
- Legacy of stuxnet is risk posed to technology dependent world - 20 countries have launched cyberwarfare programmes since exposure of stuxnet in 2010 - Stuxnet virus targeted safety mechanisms in Iran’s nuclear reactors in 2010 - Virus launched to sabotage Iran’s nuclear program was also used for mass spying - All types of digital systems at risk, including financial, banking and gold providers - Direct ownership of physical gold, unlike digital currency, not vulnerable to cyber warfare Full Story
Gold fell $9.22 to $1176.98 at about 8:30AM EST before it jumped up to $1185.20 in the next 15 minutes of trade and then drifted back lower into midday, but it then bounced back higher in afternoon trade and ended with a loss of just 0.4%. Silver slipped to as low as $15.837 before it also rallied back higher in late trade and ended with a gain of 0.06%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 June, 2015
New York closed at $1,186.20 up $9.70 as bargain hunters came in at low levels. Today sees the dollar stronger at $1.1271 up from $1.1326 up half a cent against the euro with the dollar index stronger at 95.03 up from 94.67. The LBMA Gold Price was set at $1,180.50 down $5.50 with the equivalent euro price at €1,047.80 up 65 cents. Ahead of New York’s opening, gold was trading in London at $1,179.60 and in the euro at €1,047.23. Full Story
- India may absorb as much as one third of total global silver production this year - Strong demand for silver steadily increasing year by year - Indian citizens and solar industry take advantage of current low prices in silver - U.S. silver imports still enormous despite ostensible decline in demand Full Story
Gold climbed $15.71 to $1192.21 by about 8:30AM EST before it fell back off in the next four hours of trade, but it still ended with a gain of 0.82%. Silver rose to as high as $16.237 and ended with a gain of 0.31%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 June, 2015
New York closed at $1,176.50 up $2.50, again in very thin volumes, with, again, Asia virtually absent. Today sees the dollar weaker at $1.1326 down half a cent against the euro with the dollar index weaker at 94.67 down from 95.41. The LBMA Gold Price was set at $1,186.00 up $5.00 with the equivalent euro price at €1,047.15 down €2.81. Ahead of New York’s opening, gold was trading in London at $1,188.40 and in the euro at €1,051.59. Full Story
- Documents uncovered in Washington show American’s seized Nazi gold in last days of war - Himmler stashed emergency fund of gold and currencies in post office of small Eastern town to protect from bombing of Berlin - Loot quickly shipped to Frankfurt where trail ends - Story shows strategic importance of gold in times of crisis Full Story
Every day I read news of the UK and the USA sending military trainers to Iraq and Ukraine. Going by the pathetic situation in these regions I believe that the Obama government is training the Islamic forces and that NATO does not have an intention to stop the Islamic state from expanding. Most of the young radicalized men and women cross over from Turkey to Syria and then join the Islamic state. Full Story
Gold climbed $8.91 to $1182.91 at about 8AM EST before it fell back off in the next couple of hours of trade, but it still ended with a gain of 0.21%. Silver rose to as high as $16.191 before it also fell back off and ended with a loss of 0.25%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 June, 2015
New York closed at $1,174.00 up $3.10, again in very thin volumes, with Asia virtually absent. Today sees the dollar weaker at $1.1267 down a cent and a half against the euro with the dollar index weaker at 95.41 down from 96.29. The LBMA Gold Price was set at $1,181.00 well above the trading levels seen in the market before the price setting and up $7.60 with the equivalent euro price at €1,049.96 down €4.97. Ahead of New York’s opening, gold was trading in London at $1,182.30 and in the euro at €1,049.07. Full Story
- U.S. state budgets rely on “faulty practices” – Volcker - Shoddy budget practices push costs to future generations - Faulty budget practices lead to poor policy making - “Problems hidden by lack of truth and integrity” – Volcker - No common definition of balanced budget allows for gimmicks Full Story
The consolidation phase in gold and silver might continue for a longer period than we expect. Investor sentiment is still bearish for gold and silver. US retail sales on Thursday will give us an idea of what the FOMC meet might comment. Greece and other positive news have failed to impact gold and silver positively. Unless there is a clear cut sign of a short term revival in bullion prices, short sellers will use every rise to sell and investors will stay away from the market. Full Story
Gold climbed $6.47 to $1177.37 in early Asian trade before it fell back to $1170.23 at about 11AM EST, but it then bounced back higher in the last five hours of trade and ended with a gain of 0.26%. Silver rose to $16.155 in Asia, but it then drifted back lower in morning New York trade and ended with a loss of 0.5%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 8 June, 2015
New York closed at $1,170.90 down $6.10 on Friday, again in very thin volumes. Today sees the dollar slightly weaker at $1.1126 down a cent against the euro with the dollar index firmer at 96.29 against Friday’s 95.67. The LBMA Gold Price was set at $1,173.40 down $2.50 and the equivalent euro price was €1,054.93 up from €1,047.11 on Friday. Ahead of New York’s opening, gold was trading in London at $1,175.00 and in the euro at €1,056.37. Full Story
- Deutsche co-CEOs announce “resignation” nine months before their contracts expire - Only two weeks ago, CEO Anshu Jain was given more power to reorganise the bank - Deutsche have been engaged in money laundering, tax evasion, derivative and manipulation scandals - Deutsche is world’s largest holder of financial weapons of mass destruction (FWMD) - Deutsche Bank’s derivatives position almost 15 times as large as Germany’s GDP - Announcement follows Greek failure to pay IMF on Friday and growing financial risk Full Story
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