Skip to content

Today’s Gold prices on the move Spot gold Spot silver per ounce and per gram …

Posted on | October 24, 2014 | 1 Comment

Gold price and silver price trend review and market session notes mid-day October 24, 2014:
Gold price was positive as of the mid-day mark in today’s trading session. Both gold and silver contract prices were tracking in a positive direction through the mid-day mark today.
The recent rebound in U.S. equities, as well as the strengthening dollar, should pressure precious metal prices as this session comes to a close. As equities rallied earlier and the dollar rose higher, investors reassessed their positions and safe haven appeal was affected. On the flip side, this is the beginning of a holiday season in many parts of the world. The holiday season is historically a time when more consumers are looking for items made from precious metals like gold and silver. The festival season in India often pushes gold purchases while the Christmas holiday time in the West prompts an increase in precious metal acquisitions. The surge in demand should push price per ounce levels higher as the calendar year comes to a close.
Current contract price per ounce for gold and silver and current price change review today October 24, 214 mid-day:
December contract gold price was up by .14 percent at the floor rate of 1,230.80 per ounce. December contract silver price was

Article source:

Gold And Silver Price – Respect The Trend But Prepare For A Reversal

Commodities / Gold and Silver 2014
Oct 25, 2014 – 08:52 PM GMT

By: Michael_Noonan

When events “happen,” they happen in a directed way by the elite’s mainstream media outlets. News is presented in a way that is designed to appeal to mass emotions so as to discount reasoned thinking. You get government pimps, be they congressmen, heads of agencies, even presidents who add their fiat 2 cents in order to give some weight to an otherwise weightless argument. While the “news event” is largely untrue, there is a sufficient amount of plausibility added to disguise the misleading [never verified] facts. In other words, psychological manipulation is the main menu of options for the elites to keep the masses “informed,” while still very much uninformed.

As to gold and silver, there are two sides to the coin, as it were. One is well-covered, in fact overly covered, while the other receives coverage but with elite-imposed limitations.

One of the most basic truths in determining the value of anything is that of supply and demand: the availability of a particular product or service [supply], and the desirability [demand] for the product/service. It is an axiomatic rule that cannot be broken, but it can be distorted, as in the case for gold. The distortion via central bank manipulation has been so pervasive over

Article source:

Steve Sjuggerud: Why I’m making a big change with my investments

From Steve Sjuggerud, editor, True Wealth: 

My friend, the time has FINALLY come…

It is time to buy commodities.

For years, I’ve urged you to invest in the stock market and the housing market. (I hope you took my advice… Stocks and housing have soared!)

But one asset class has been completely left out of the fun… commodities.

In the summer of 2008, big investors loved commodities… The Dow Jones-AIG Commodity Index peaked at a value around 240. And Harvard University, a big investor, allocated 8% of its endowment to “public commodities.”

Now commodities are hated by big investors… Earlier this year, the Dow Jones-AIG Commodity Index hit 122 – down nearly 50% from its 2008 highs.

And big investors have bailed completely. Harvard announced it will be allocating 0% to “public commodities” in 2015.

The story gets even crazier…

You see, the Dow Jones-AIG Commodity Index was at 128 in 1997. That means commodities in general are now trading at prices last seen 17 years ago.

And going back 80 years, you can see that commodity prices are trading near all-time lows:

As the chart shows, over the long run, the trend in commodity prices is down. However, there are moments – like in the 1970s and 2000s – where commodity prices can have extended bull markets.

So what’s going on? Why are commodities crashing right now?

To answer that, let’s look at what causes commodity prices to go up…

Commodity prices soar when three things are happening:


Article source:

Gold and Silver Snap Weekly Win Streak; US Coin Sales Firm

Gold and Silver Bullion - Bars and Coins

Gold and silver declined from a week ago. United States Mint coin sales firmed.

Gold rebounded from a two-session losing streak on Friday, supported by safe-haven demand, but prices still slipped 0.6% on the week. The weekly decline was a first in three weeks.

Gold for December delivery climbed $2.70, or 0.2%, to settle at $1,231.80 an ounce on the Comex division of the New York Mercantile Exchange.

“Today’s upward move is all about dollar reacting to Ebola fears in New York,” Tom Power, a senior market strategist at RJO Futures in Chicago, said in a telephone interview according to Bloomberg News. “The long-term price direction will be all about what the Fed does next.”

Gold scored a five-week high as recently as Tuesday, and then finished lower for two consecutive days as the dollar firmed and investors turned to stocks and other riskier assets. Falling $16.40 on the Thursday alone, the most since Oct. 3, positioned the precious metal for a weekly loss. Gold futures had their year-to-date gain trimmed to 2.5%.

Gold Outlook

For a second straight week, participants in the latest Kitco News survey tilt bearish for gold. Nine survey takers expect the yellow metal to fall next week, 6 see prices rising and 6 see prices trading sideways or are neutral. Kitco News reports:

“Bearish participants said considering gold

Article source:

Confirmed: Ebola has hit the east coast

From Bloomberg:

A New York City doctor tested positive for Ebola after returning from aid work in West Africa. Authorities are tracing his contacts while assuring the public the risk of contracting the disease is minimal.

It’s the first case of Ebola diagnosed in the nation’s most populous city. The doctor, Craig Spencer, 33, is being treated in an isolation unit at Bellevue Hospital Center in Manhattan. At the same time, officials are monitoring those who were with him as he traveled on the subway, went bowling and had close contact with several people.

The West African outbreak is the worst on record, drawing medical professionals from around the globe to Liberia, Guinea and Sierra Leone, the most affected countries. An Ebola case was also confirmed yesterday in Mali, which shares a border with Guinea.

Spencer arrived in New York Oct. 17, and came down with a temperature yesterday. His case puts a spotlight on how tough it may be to control Ebola’s spread, potentially spurring new political debate on how to protect the U.S. It also supports recent efforts to prepare for such cases.

“We are as ready as one can be for this circumstance,” said New York Governor Andrew Cuomo, one of several officials who spoke out yesterday to lessen city fears. “New York is a dense place, a lot of people on top of each other. But the more you know, the less frightening it is.”

Guinea Travel

Spencer, an emergency medicine doctor at Columbia

Article source:

Must-read: The simple, easy way to protect yourself against the next financial disaster

From Brian Hunt in The SA Digest:

You wake up in the morning, turn on the news, and get a sick feeling in your stomach.

The stock market is crashing again. Another big Wall Street bank has failed. Your 401(k) has lost another 25%. It’s bleeding value every week.

Your dream of early retirement is history. You’ve lost so much money in stocks that even a “regular” retirement is in jeopardy. If you live a long life, there’s no way you’ll have enough money.

This is the financial disaster scenario that terrifies a lot of investors. It’s what kept people up at night during the 2008 credit crisis.

Could it happen again?

Could another crisis cause the value of the U.S. dollar to collapse?

Could the stock market suffer another epic decline?

Many people say the answer to these questions is “yes.”

Fortunately, I don’t need to know the answer to these questions… and neither do you.

The good news is that it’s very easy to buy insurance against financial disasters like these. I personally own this insurance. Many of the smartest, wealthiest people I know own it, too. It could mean the difference between a comfortable, early retirement… or just barely getting by.

First, it’s important to agree on what “insurance” is. In my book, buying insurance comes down to spending a little bit of money to hedge yourself against a disaster.

Throughout our lives, we spend a little bit of money on insurance and hope we never have to use it.

Article source:

Friday, October 24: Today in Gold and Silver

TheStreet) — The gold price traded pretty flat for most of the early going in the Far East trading session on their Thursday.  The tiny rally that developed at noon Hong Kong time, ran into a willing seller around 2:30 p.m.—and the price chopped lower until the Comex open.  It traded sideways from there into the London p.m. gold fix—and once that was out of the way, ‘da boyz’ and their algorithms showed up—and the low tick was printed at the 4 p.m. BST London close, which was 11 a.m. EDT in New York.  The gold price traded quietly higher from there before running into a determined seller short after 3 p.m. in electronic trading—and it traded sideways into the 5:15 p.m. close.

The high and low ticks were reported by the CME Group as $1,244.90 and $1,226.30 in the December contract.

Gold finished the Thursday session at $1,31.90 spot, down $9.10 from Wednesday’s close.  Net volume was 128,000 contracts.

After opening lower, as per usual, the silver price chopped sideways, hitting its high tick at the same time as gold, just before 2:30 p.m. Hong Kong time—and about forty minutes before the London open.  The low of the day was printed around 12:40 p.m. in London—and the subsequent rally [such as it was] got capped shortly before the equity markets opened in New York.  From there the silver price chopped sideways in ten

Article source:

Thursday, October 23: Today in Gold and Silver

TheStreet) — The gold price didn’t do much of anything in Far East or early London trading on their Wednesday—and the smallish rally that developed once the noon London silver ‘fix’ was in, got in the neck at precisely 8:30 a.m. EDT—ten minutes after the Comex open.  From there it chopped sideways until the 1:30 p.m. Comex close.  Then further selling pressure entered the market—and gold got closed almost on its low tick.

The high and low were recorded by the CME Group as $1,250.20 and $1,240.70 in the December contract.

Gold finished the trading day in New York yesterday at $1,241.00 spot, down $8.40 from Tuesday’s close.  Net volume was 103,000 contracts.

As usual, silver got hit the moment that trading began in New York on Tuesday evening—and never recovered.  The tiny rally that developed right at the Comex open ran into ‘da boyz’ and their algorithms—and silver, like gold, was closed almost on its low tick.

The high and low were recorded as $17.535 and $17.115 in the December contract, which was an intraday move of more than 2 percent.

Silver closed in New York yesterday at $17.17 spot, down 34.5 cents.  Net volume was pretty decent at 36,000 contracts.

Platinum hit its high at 9 a.m. Tokyo time—and then got sold down to unchanged.  The real selling pressure began the moment that

Article source:

Heads up… The last time this happened, it marked a MAJOR bottom in the price of gold

From Dave Forest at Pierce Points:

Things have changed a lot in the gold market − in a very short period of time.

And news this week suggests that further structural changes are coming to the market. The kind we haven’t seen in over 15 years.

Specifically when it comes to gold hedging, the practice of forward-selling bullion in order to lock in a fixed price.

With gold rising over a good part of the last decade, investors wanted as much exposure as possible to prices. With buyers betting that prices would continue to rise − generating increasing profits for companies that produce bullion.

That led to a decrease in hedging − with gold producers sometimes paying billions of dollars to “unwind” their hedges. And regain complete exposure to market prices.

But a survey released on Wednesday suggests that gold companies are now going the exact opposite direction. Increasing their hedges − by a significant amount.

The study’s authors − gold market experts GFMS along with Societe Generale − said they expect total hedging in the gold industry to rise to 40 tonnes of metal in 2014. A mark that would be the highest yearly figure since 1999.

There’s reason to believe the prediction. In the second quarter alone, total hedging across the gold industry jumped 61% as compared to the year-ago period. Suggesting that producers are indeed returning to hedges in a big way.

The strategy makes sense in light of recent market activity. With gold prices having once again

Article source:

If you’re worried about deflation, check out this chart

From Tom McClellan’s Chart in Focus: 

I cannot believe the volume of the news stories I am seeing in the financial media, with people worrying about impending deflation. And as any card-carrying contrarian knows, when a topic gets too popular, you are near a turning point.

To check that observation, I went to Google Trends and did a quick search on the term “deflation“. What Google does is to then come back with a chart showing interest in that term over time among the news media. And sure enough, October 2014 is showing the highest reading since late 2010, and the month is not even over yet. As I see it, that confirms that the media are getting a little bit too interested in this topic of deflation.

So what? Well, when “everyone” is expecting deflation, they usually place their financial bets based on that expectation. And that usually takes the form of T-Bond prices going too far. So to verify that notion, I took that Google Trends chart and overlaid a chart of T-Bond prices for the same period.

There are ways to create a more elegant chart comparison, but Google does not make it very easy to get the raw monthly readings unless you are willing to hover your mouse cursor over every point on the chart, note the value that the Flash graphic pops up, put that into a spreadsheet,

Article source: