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Silver Prices Remain under Pressure as Gold Retreats

A slightly firmer dollar maintained a negative tone surrounding silver on Wednesday with prices also pulled lower by a sharp dip in gold prices during the New York session.

Silver prices were unable to make any fresh impression on resistance levels in US trading on Tuesday, as overall sentiment remained cautious.

The latest Federal Reserve discount rate minutes recorded that 8 of the 12 regional Fed banks called for a discount rate increase in July from 6 at the previous meeting. This is a strong signal that regional banks are pushing for a hike and the Governors will be under pressure to respond.

Dallas Fed President Kaplan stated that a rate increase was warranted if the favourable job trend continues and that a rate rise was approaching.

Despite the relatively hawkish tone of Fed rhetoric, there was no significant shift in Fed Funds futures and no significant upward pressure on US yields with benchmark 10-year yields holding close to 1.55%. Given the absence of these pressures, silver was also resilient and fluctuated around the $19.00 level.

Prices drifted marginally lower in the Asian and European sessions on Wednesday as the dollar secured a small-scale advance against the Euro, although overall movement was limited with volatilities tended to diminish across most asset classes amid weak trading volumes.

There was a sharp drop in China’s July silver and platinum imports, which had some negative impact across the precious metals complex.

US existing home sales

Article source: http://www.economiccalendar.com/2016/08/24/silver-prices-remain-under-pressure-as-gold-retreats/

Gold and Silver Market Morning: Aug-23-2016 — Gold and silver prices being moved on exchange rates only





 – Published: Tuesday, 23 August 2016 | Print  | Disqus 

Gold Today Gold closed in New York at $1,343.40 on Monday after Fridays close at $1,341.00.  London opened at $1,341 again.

-         The $: was at $1.1335 with a wide spread, from $1.1305.

-         The dollar index was at 94.39 from 94.64 Monday.

-         The Yen was at 100.15 from Mondays 100.48 against the dollar.

-         The Yuan was weaker at 6.6447 from 6.6540 Monday.

-         The Pound Sterling was at $1.3184 from Mondays $1.3144.

 

Yuan Gold Fix

 

All global gold markets, together with global currencies seem to be moving sideways today.

 

The Yuan is trying to hold onto the 6.65 area, we presume because we are about to enter the month in which it finally becomes one of the currencies making up the S.D.R.  Thereafter we expect any restraint on the Yuan going weaker [gently] will be lifted.

 

The dollar, at the same time, continues to show a slightly weakening trend holding at lower levels.

 

LBMA price setting:  $1,338.50 after Monday 22nd Augusts $1,334.30.

 

The gold price in the euro was set at 1,181.69 down 7.51 from Fridays 1,189.80.

 

Ahead of the opening in New York the gold price stood at $1,341.65 and in the euro at 1,183.17. 

 

Silver Today The silver price closed in New York at $18.99 on Monday

Article source: http://news.goldseek.com/GoldForecaster/1471957620.php

Gold and Silver Market Morning: Aug-24-2016 — Gold and silver prices in a tight trading range!





 – Published: Wednesday, 24 August 2016 | Print  | Disqus 

Gold Today Gold closed in New York at $1,338.60 on Tuesday after Mondays close at $1,343.40.  London opened at $1,341 again.

-         The $: was at $1.1275 from $1.1335 yesterday.

-         The dollar index was at 94.67 from 94.39 yesterday.

-         The Yen was at 100.20 from yesterdays 100.15 against the dollar.

-         The Yuan was weaker at 6.6536 from 6.6447 yesterday.

-         The Pound Sterling was at $1.3230 from yesterdays $1.3184.

 

Yuan Gold Fix

 

Once again, overall, all global gold markets, together with global currencies seem to be moving sideways today with an emphasis on a slightly stronger dollar. But this strength is small. So we have gold prices in the dollar falling and those in the euro rising.

 

Fridays Jackson Hole comments by Mrs. Yellen of the Fed are the focal point of the week with markets finely measuring the emphasis she puts on her words, looking for the smallest sign of what the Fed is going to do and when. This is what she doesnt want, so how she is going to play it with so much influence each word will have, is a difficult one.

 

She would do well to repeat her last speech so as not to give room for wrong impressions. Unfortunately, unless she does repeat her last speech, any emphasis that inclines

Article source: http://news.goldseek.com/GoldForecaster/1472045609.php

Gold and Silver Market Morning: Aug-23-2016 — Gold and silver …





 – Published: Tuesday, 23 August 2016 | Print  | Disqus 

Gold Today Gold closed in New York at $1,343.40 on Monday after Fridays close at $1,341.00.  London opened at $1,341 again.

-         The $: was at $1.1335 with a wide spread, from $1.1305.

-         The dollar index was at 94.39 from 94.64 Monday.

-         The Yen was at 100.15 from Mondays 100.48 against the dollar.

-         The Yuan was weaker at 6.6447 from 6.6540 Monday.

-         The Pound Sterling was at $1.3184 from Mondays $1.3144.

 

Yuan Gold Fix

 

All global gold markets, together with global currencies seem to be moving sideways today.

 

The Yuan is trying to hold onto the 6.65 area, we presume because we are about to enter the month in which it finally becomes one of the currencies making up the S.D.R.  Thereafter we expect any restraint on the Yuan going weaker [gently] will be lifted.

 

The dollar, at the same time, continues to show a slightly weakening trend holding at lower levels.

 

LBMA price setting:  $1,338.50 after Monday 22nd Augusts $1,334.30.

 

The gold price in the euro was set at 1,181.69 down 7.51 from Fridays 1,189.80.

 

Ahead of the opening in New York the gold price stood at $1,341.65 and in the euro at 1,183.17. 

 

Silver Today The silver price closed in New York at $18.99 on Monday

Article source: http://news.goldseek.com/GoldForecaster/1471957620.php

Gold, Silver Prices Under Pressure Ahead of Jackson Hole …

KITCO NEWS Gold prices ended the U.S. day session weaker but up from the daily low that marked a two-week low Monday. ‘Silver prices finished sharply lower and hit a seven-week low. The key “outside markets” were in a bearish daily posture for the precious metals to start the trading week, as the U.S. dollar index was slightly higher and crude oil prices were lower,’ said Jim Wyckoff, senior technical analyst for Kitco Metals. December Comex gold settled lower at $1,343.40 an ounce. September Comex silver was also down $0.432 at $18.88 an ounce. The highlight of this week will be the Federal Reserve’s annual symposium held in Jackson Hole, Wyoming, said Wyckoff. ‘Fed Chair Janet Yellen speaks at the event on Friday. Recent comments from Federal Reserve officials have been mixed, but the majority of their recent rhetoric has leaned toward the hawkish side of U.S. monetary policy. There are now increasing ideas in the marketplace that the Fed will raise interest rates this year. Such has put some upside pressure on the U.S. dollar index just recently,’ Wyckoff added. Markets could be quieter until after the U.S. Labor Day holiday in early September.

Article source: https://www.thestreet.com/video/13681898/gold-silver-prices-under-pressure-ahead-of-jackson-hole-symposium.html

Price of Silver Suffers Much Larger Loss than Gold Today

As of 3:30 p.m. EST, Silver prices (for September delivery) traded down -$0.435 (-2.25%) lower to $18.880, with today’s trading range between $18.710 and $19.250 for the contract.

Silver - Recap and Outlook for Aug 22 2016 - ONE

The 3-day chart (above) shows the bid of silver (spot) prices sitting at $18.875 at 3:30 p.m. EST. This chart shows us that silver started the week lower right out of the gate.

There seems to be some floor put in at $18.80 over the past 24 hours. As such, some investors may go long here, while implementing a stop-loss in the vicinity of $18.750 (for a decent 1:3 risk/reward ratio should silver return back to where it was over the weekend).

Silver - Recap and Outlook for Aug 22 2016 - TWO

The current gold/silver ratio sits at 71.118 (based on the December September contracts), which is up from Friday’s 69.656. Based upon their spot prices, the ratio sits at 70.87 (up from 69.58 on Friday).

Gold (for December delivery) fell -3.50 (-0.26%) lower to $1,342.70 with today’s range at $1,335.40 and $1,345.70.

On the intra-day chart (above) we can see that both gold and silver opened lower. While both fluctuated in tandem for most of the day, there was some divergence occurring when gold made back more of its losses than silver (which traded along its

Article source: http://www.economiccalendar.com/2016/08/22/price-of-silver-suffers-much-larger-loss-than-gold-today/

Gold Prices Retreat But Could "Receive Catalyst" from Central …

GOLD PRICES hit a two-week low on Monday morning in London as the US Dollar traded higher as investors await the much anticipated speech from the Fed Chair Janet Yellen happening this Friday, writes Steffen Grosshauser at BullionVault.

Gold tested recent support levels as the metal quickly touched a low of $1331 per ounce before rising to $1336.

“The slow summer trade is yet to see a break of USD $1330 – $1360,” noted Swiss refiner MKS PAMP in their latest market update. “However we may receive a catalyst in the form of Federal Reserve Chair Janet Yellen’s Jackson Hole speech this Friday.”

Janet Yellen is due to speak at the Jackson Hole Economic Symposium in Wyoming where central bankers from around the world meet every year. This could produce some signal about the outlook of the U.S. economy, after Fed officials have hinted in the last few days of an increased probability of a further interest rate hike as early as this September.

The Fed vice-chairman Stanley Fischer said on Sunday that the U.S. economy was close to hitting the central bank’s targets for full employment and 2% inflation. 

“It will be interesting if [Yellen] takes on the slightly more hawkish rhetoric of some of her colleagues of late, as that could potentially shake markets up a little,” said an analyst at ANZ Commodity Research on Monday.  

“We think that a September move might be too early for the Fed to act, but by the same token, a December move

Article source: https://www.bullionvault.com/gold-news/gold-price-082220161

Gold, Silver Prices Under Pressure Ahead of Jackson Hole Symposium

KITCO NEWS Gold prices ended the U.S. day session weaker but up from the daily low that marked a two-week low Monday. ‘Silver prices finished sharply lower and hit a seven-week low. The key “outside markets” were in a bearish daily posture for the precious metals to start the trading week, as the U.S. dollar index was slightly higher and crude oil prices were lower,’ said Jim Wyckoff, senior technical analyst for Kitco Metals. December Comex gold settled lower at $1,343.40 an ounce. September Comex silver was also down $0.432 at $18.88 an ounce. The highlight of this week will be the Federal Reserve’s annual symposium held in Jackson Hole, Wyoming, said Wyckoff. ‘Fed Chair Janet Yellen speaks at the event on Friday. Recent comments from Federal Reserve officials have been mixed, but the majority of their recent rhetoric has leaned toward the hawkish side of U.S. monetary policy. There are now increasing ideas in the marketplace that the Fed will raise interest rates this year. Such has put some upside pressure on the U.S. dollar index just recently,’ Wyckoff added. Markets could be quieter until after the U.S. Labor Day holiday in early September.

Article source: https://www.thestreet.com/video/13681898/gold-silver-prices-under-pressure-ahead-of-jackson-hole-symposium.html

Gold Prices Retreat But Could ‘Receive Catalyst’ from Central Bankers’ Meeting in Jackson Hole, Silver Down to Seven …

GOLD PRICES hit a two-week low on Monday morning in London as the US Dollar traded higher as investors await the much anticipated speech from the Fed Chair Janet Yellen happening this Friday, writes Steffen Grosshauser at BullionVault.

Gold tested recent support levels as the metal quickly touched a low of $1331 per ounce before rising to $1336.

“The slow summer trade is yet to see a break of USD $1330 – $1360,” noted Swiss refiner MKS PAMP in their latest market update. “However we may receive a catalyst in the form of Federal Reserve Chair Janet Yellen’s Jackson Hole speech this Friday.”

Janet Yellen is due to speak at the Jackson Hole Economic Symposium in Wyoming where central bankers from around the world meet every year. This could produce some signal about the outlook of the U.S. economy, after Fed officials have hinted in the last few days of an increased probability of a further interest rate hike as early as this September.

The Fed vice-chairman Stanley Fischer said on Sunday that the U.S. economy was close to hitting the central bank’s targets for full employment and 2% inflation. 

“It will be interesting if [Yellen] takes on the slightly more hawkish rhetoric of some of her colleagues of late, as that could potentially shake markets up a little,” said an analyst at ANZ Commodity Research on Monday.  

“We think that a September move might be too early for the Fed to act, but by the same token, a December move

Article source: https://www.bullionvault.com/gold-news/gold-price-082220161

Gold and Silver Market Morning: Aug-18-2016 — Gold and silver prices pushing resistance!





 – Published: Thursday, 18 August 2016 | Print  | Disqus 

Gold Today Gold closed in New York at $1,346.50 on Wednesday after Tuesdays close at $1,346.10.  London opened at $1,352.

-         The $: was very weak at $1.1329 from $1.1262.

-         The dollar index was weak at 94.35 from 94.96 Wednesday.

-         The Yen was stronger at 100.08 from Wednesdays 100.76 against the dollar.

-         The Yuan was slightly stronger at 6.6324 from 6.6330 Wednesday.

-         The Pound Sterling was slightly stronger at $1.3144 up from Wednesdays $1.3014.

 

Yuan Gold Fix

 

In almost a repeat of yesterday Shanghai was much higher than New Yorks closing but London decided to walk its own road at the opening, opening lower at $1,352. Dollar weakness continues heavily, as seen in the dollar index as well as against the euro. We are in a time when a large number of experts are calling the dollar higher, but it consistently does the reverse.

 

With emerging and higher risk nations offering higher yields, their currencies are strengthening and will continue to do so until we do actually see a rate hike [which we dont expect until next year].

 

LBMA price setting:  $1,347.10 after Wednesday 17th Augusts $1,342.75.

 

The gold price in the euro was set at 1,188.60 down 3.05 from Wednesdays 1,191.65.

 

Ahead of the opening in New York the gold price

Article source: http://news.goldseek.com/GoldForecaster/1471524692.php