• Gold: 1,245.73 -0.54
  • Silver: 17.59 0.01
  • Euro: 1.078 -0.001
  • USDX: 99.76 -0.065
  • Oil: 47.79 0.16

Market Report: Christmas quietude

Again, precious metals are reflecting a strong dollar, rather than anything fundamentally wrong with gold and silver. The last two months have seen a strong dollar revaluation upwards against all currencies. Gold fell $7 from last Friday’s close, to $1131 in early European trade this morning, and silver by 17 cents over the same time frame to $15.82.

Silver Market Morning: Dec 23 2016 - Gold and...

For the last few weeks, while the U.S. digested the election win by Trump, the euphoria has bubbled over. But as we all know, while Trump’s businesslike objectives may be encouraging, they are against the background of an economy that while moderately expansive but far from vigorous, as demand for durable goods fell 4.6% in November and jobless claims rose in the same month. So President Trump has to produce miracles to achieve what the Market euphoria expects of him. So a calming process in the markets must happen and we see the beginning of that now.

Silver Market Morning: Dec 21 2016 - Gold and...

Today the dollar is pausing in its rise and gold too is consolidating with a slightly stronger bias right now. There were no sales from the gold ETFs yesterday, which has assisted the consolidation. If heavy ETF sales come in now the gold price will fall, if not we expect the gold price to continue rising.

Silver Market Morning: Dec 19 2016 - Gold and...

We feel that the dollar has run too far, for too long on the back of hopes under the Trump administration. It is certainly against the interest of the U.S. to have a strong dollar at this point in the U.S. With the Yuan continuing to fall we may well see our forecast of 7.00 against the dollar reached by the end of this year. In 2017 we expect more falls in the Chinese currency. Let’s be clear on this, if the dollar continues to strengthen much more, the likelihood of import controls via stringent tariffs increases.

Market Report: Fed rate up – more to come

Gold is now up only 6.3% on the year in dollars, having been as much as up 29% mid-year. Silver is up 16% having been up 49% on 2nd August. Gold’s weakness is the counterpart of dollar strength, but with industrial metals rising strongly (copper is up 22% since 1st October, while gold is down 14%) valuations are getting stretched. The strength in base metals has helped silver relative to gold, reflected in the chart of the gold/silver ratio.

Silver Price Manipulation Continues In 2016

So we wait and watch...seriously, what else can we do? It has now been proven and admitted that teams of traders at The Bullion Banks actively collude to manage and manipulate price. (See here: http://www.goldchartsrus.com/chartstemp/MarketManipulation.php) And it's obvious that The Criminals are still at it when you examine the silver chart over the past 90 days. Three massive raids have been staged to inflict devastating, technical damage.

Silver Market Morning: Dec 16 2016 - Gold and...

Shanghai prices fell around 1% today, after New York’s fall of 1.3% signalling a calmer market despite the fall caused by ongoing ETF sales. When translating Yuan prices into the dollar equivalent we see the ‘discount’ of New York to Shanghai prices rising to $44.19 the highest ever seen. Against London’s opening of $1,133.85 the London ‘discount’ was $38.19, again the highest we have ever seen. Once again this is accounted for by the dollar’s ongoing strength.

Silver Market Morning: Dec 15 2016 - Gold and...

Shanghai prices held $33.94 higher levels than prices in New York. London opened at a higher discount to Shanghai of $39.74. In the last day London and New York gold prices have dropped in the dollar around 11% whereas Shanghai gold prices in the Yuan have dropped only 0.5%. This is an important point, we feel pointing to volatility in London and New York continuing then doing so both ways. i.e. Shanghai is implying that gold prices are falling too far too fast, despite the rising dollar.

David Morgan on a Better Year Ahead and the...

On election night, gold surged nearly 5 percent–its biggest single-day gain since June 2016. But when Trump took to the stage a few hours later, the price of gold plunged to $1,302.42. Gold dropped even further to $1,217.25 on a stronger US dollar and an anticipated Federal Reserve interest rate hike in December.

Silver Market Morning: Dec 14 2016 - Gold and...

It is again reported that the requirement for importing gold into China is a ‘licence for each batch’ of gold imported. Yes, the PBoC can restrain these licenses to limit imports, but it is unlikely that they would hold back such licenses. There is no confirmation of the refusal to issue licenses by the PBoC to gold importers, so we would question such control until there is evidence.