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Gold and Silver Market Morning: May-6-2016 — Gold and Silver steady ahead of a move!

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 – Published: Friday, 6 May 2016 | E-Mail  | Print 

Gold Today Gold closed in New York at $1,277.30 yesterday down from $1,279.20 on Wednesday. On Friday morning in Asia it rose slightly to $1,279.10, as the Yuan continued to weaken against a slightly stronger dollar, before the LBMA price setting in London.


LBMA price setting:  $1,280.25 up from Thursdays $1,275.75.


Yuan Gold Fix


The Shanghai Gold Fixings today were around the close in New York, but New York barely moved the gold price during yesterday, nor did London. 


In all main global gold markets the gold price has settled around the $1,277- $1,280 area a feature that usually precedes a hefty move in the gold price.


All hard currencies are relatively steady together and, by extension, against the gold price.


The dollar index is the same today as yesterday, at 93.60. The dollar is barely stronger against the euro at $1.1426 from Thursdays $1.1431.


The gold price in the euro was set at 1,120.47 up from Thursdays 1,116.04.


Ahead of New Yorks opening, the gold price was trading at $1,280.40 and in the euro at 1,120.75. 


Silver Today The silver price closed in New York on Wednesday lower at $17.34 the same as yesterday. Ahead of New Yorks opening the silver price stood at $17.34.

Gold still sparkles while silver linings offer a safety net

At the end of last year even this gold bull was close to throwing in the towel. Such pessimism is typical of market bottoms, as indeed this proved to be with gold gaining around 25 per cent in value since then and starting the year with its best rally in three decades.

Over the past month silver prices have caught up with the party and outperformed gold.

At the time of writing silver was up 29 per cent year-to-date.

That looks like a confirmation of a breakout from the four-year bear market in precious metals.

From a technical standpoint the 20-week moving average gold price has crossed the 50-week moving average, a normally definitive indicator of a new bull market.

Of course you still don’t have to look far to find bearish analysts who say gold will still retest recent lows, although the pack led by Goldman Sachs looking for $800 to $900 an ounce have fallen notably quiet. Markets do climb a wall of worry, after all.

But if you are looking for a way to maximise your gains from this new bull market then you might have noticed that the share prices of gold and silver producers and exploration companies have jumped in value by far more than bullion since the beginning of the year.

Comparing the price of Exchange Traded Funds (ETFs) is a simple way to demonstrate this.

The GDX basket of major gold producer shares is up 88 per cent and the GDXJ basket of junior gold companies

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Gold books third straight loss as jobs report looms

Gold futures succumbed to a rebounding dollar to end lower Thursday, a day ahead of a closely watched jobs report that could influence the path of the yellow metal.

Gold had spent much of the session in positive territory, trading as high as $1,288.40 an ounce, before legging lower only a few minutes before it settled on Comex. However, futures for silver enjoyed a modest gain. July silver

SIN6, +0.10%

climbed 2.6 cents, or 0.2%, to $17.327 an ounce.

June gold

GCM6, +0.61%

 declined $2.10, or 0.2%, to $1,272.30 an ounce, marking

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Gold, silver prices go up for the fifth time in 2016

Bangladesh Jewellers Association (BAJUS) in a media statement on Wednesday said prices of per bhori (11.664 grams) of gold will see a hike of Tk 1,225 and silver Tk 58 from Friday.

It means a bhori of best quality gold will set customers back by Tk 47,415 and a gram Tk 4,065.

With the latest hike, the price of gold per bhori is seeing an increase of Tk 6,125 this year.

BAJUS General Secretary Enamul Haque Khan told the gold prices in the local market had been adjusted to the rise in the prices in the international market.

Gold prices were last hiked on Mar 7 by Tk 1,225 a bhori.

After the latest increase, a bhori of 22-carat gold will cost Tk 47,415, 21-carat Tk 45,315, 18-carat Tk 38,667 and traditional gold Tk 27,586.

Until Thursday, the precious yellow metal will sell at Tk 46,190, Tk 44,090, Tk 37,442 and Tk 26,361 respectively.

The price of silver is going up to Tk 1,165 from Tk 1,108.

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3 Factors That Could Propel Silver Prices 270%

Silver PricesSilver prices have soared roughly 27% since the start of 2016 on fears of a U.S. recession and weak global economic indicators. While most on Wall Street say fears of a recession are wildly overblown, the current price appreciation says investors are not so sure. And they are for good reason. A raft of negative economic data continues to roll in suggesting silver prices will continue to climb in 2016.

Silver Prices Could Soar in 2016

Silver is up around 27% year-to-date, near $18.00 an ounce. Trading at a 16-month high, many believe silver will run out of steam and simply trade sideways for the foreseeable future. As a hedge against economic uncertainty, there are a large number of factors suggesting silver has a lot more upside potential in 2016.

Firstly, Federal Reserve Chair Janet Yellen, Wall Street’s “sugar mama,” kept the cheap money flowing when she announced the Fed would be leaving its interest rate unchanged in the range of 0.25% to 0.50%. The bank noted that a slowing U.S. economy was the primary reason for keeping the rate put. This is in addition to an ongoing global economic slowdown. (Source: Federal Reserve press release, Board of Governors of the Federal Reserve System, April 27, 2016.)

After suggesting the Fed would raise rates four times in 2016, it now appears likely that the Fed will only raise rates once…maybe twice. Regardless, it’s far less than the Fed’s optimistic projections back in

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Gold and Silver Market Morning: May-3-2016 – Gold attacks $1300, silver strong!

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 – Published: Tuesday, 3 May 2016 | E-Mail  | Print 

Gold Today Gold closed in New York at $1,290.00 up from $1,268.10 on Thursday. On Monday morning in Asia it rose to $1,300.00, as the dollar weakened heavily and before the LBMA price setting in London.


LBMA price setting:  $1,296.50 up from Fridays $1,274.50.


Yuan Gold Fix


The Shanghai Gold Fixings today again show a real rise in the price of physical gold as the number of the Yuan in dollars rose [weakened]. But a significant weakening of the dollar helped the gold price rise to $1,300. The rise in the gold price held in London ahead of the LBMA gold price setting.


Once again the gold price has highlighted the strength of gold in all currencies. It also highlighted the weakness of the dollar and helped investors to see more clearly the impact of increased physical demand for gold as well as just how much currency weakness is reflected in the dollar gold price.


The dollar index is lower today, at 92.50 down from Fridays 93.88. The dollar is weaker against the euro at $1.1552 from Fridays $1.1400.


The gold price in the euro was set at 1,122.32 up from Fridays 1,118.18.


Ahead of New Yorks opening, the gold price was trading at $1,297.30 and in the euro at 1,123.00. 


Silver Today

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Why Are Silver Prices Surging?

silver pricesNathan McDonald:  What in the world is going on with silver? It’s lighting up the markets and is the talk of the town once again.

This metal exploded last week, gaining 4.5% in one week alone and is showing no signs of slowing down.

The reasoning for this is not fully known, but many notable and well respected names in the industry are raising the alarm and speculating as to what’s happening.

Some are suggesting that it has something to do with the pending crisis that the global markets are soon to face.

This crisis is the one we alluded to last week, in which the FED held a series of secretive meetings, involving FED board members, the President and the Vice President in an unprecedented event.

Others are stating that it has to do with the Chinese market and their recently issued gold-backed yuan, an event that is going to rock the Forex markets and put China in a key position to smash the paper cartels whenever they feel the need to do so.

Silver Surges Higher? But Why? - Nathan McDonald

Given the fact that the Chinese are so heavily invested in precious metals, this scenario is incredibly likely and may be closer than ever, especially with the uncertainty that is unfolding in China and their increasingly more precarious financial situation.

Another scenario that seems to come up every

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Is Paper Gold and Silver Pushing Up The Prices For The Physical Metals?

Is Paper Gold and Silver Pushing Up The Prices For The Physical Metals?

Is Paper Gold and Silver Pushing Up The Prices For The Physical Metals?

The price of gold shot up over $60 this week. The price of silver moved up proportionally, gaining over $0.85. The mood is now palpable. The feeling in the air is that of long suffering suddenly turned to optimism. Big gains, if not the collapse of the price-suppression cartel, are now inevitable.

The headlines and articles, screaming for gold to hit $10,000 to $50,000, are pervasive. Today we won’t dwell on our favourite point that if the price of gold hits $50,000 then that means the price of the dollar has collapsed. If you own an ounce of gold, then you may have a lot more dollars. But unfortunately, each of those dollars is worth a lot less.

Today, we want to look at this new alleged precious metals bull market. Does it have legs? Are we likely to see silver hit $20, much less $1,000? We will support our analysis with a new graph to show the big picture.

Let’s look at the only true picture of supply and demand fundamentals. But first, here’s the graph of gold and silver prices.

The Prices of Gold and Silver
letter may 1 prices

Next, this is a graph of the gold price measured in silver, otherwise known as the gold to silver ratio. The ratio was down

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Gold or silver? The right answer might be both after their recent rally

Gold and silver have been on a hot streak in the past month and analysts say there could be more price gains for the precious metals on the back of a weaker U.S. dollar and declining mine supplies.

Silver has been the hotter performer of the two, gaining 15 per cent in April, compared to the 4.4 per cent return bullion posted. Last month’s rally means that silver is now up roughly 27 per cent for the year while gold is up 20 per cent. 

The gains mean that analysts are now raising their forecasts for precious metal prices, after spending much of the past two years cutting their outlooks.

“Despite the increase in the gold price year-to-date, we believe that the rally has more room to run,” said TD Securities analysts led by Greg Barnes in a note to clients. “Since the FOMC raised rates in December 2015, market expectations for future rate hikes have diminished on increasing concerns over a slowing U.S. economy.”

Gold prices in particular have been hard hit in the past few years as many investors fled the precious metal on expectations that the U.S. Federal Reserve would begin normalizing its interest rate policy. Bullion had rallied strongly in the early years following the financial crisis, boosted by fears that rock bottom interest rates could spur runaway inflation. It also found popularity as a safe haven investment as market volatility increased in the post-crisis years.

But the end of the Fed’s quantitative easing program and the move in December to

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Will silver prices double?

The last five years were brutal for silver bulls. After a post Nelson Bunker Hunt bubble peak price of 48.50 in April 2011, silver plunged to $13.60 by mid-December 2015 in a bear market that was even more extreme than the epic falls in gold and crude oil. Yet 2016 saw the silver bulls finally rock again as silver surges 20 per cent above $17.68 an ounce. The silver bull market is no longer a springtime fantasy. It is anchored in macroeconomics and the fundamental logic of the world precious metal markets.

One, there is no silver glut in the world. Most of the world’s supply of the white metal does not even come from dedicated silver mines but is a by product of copper, gold and lead extraction. Given the savage bear market in both industrial metals and gold, less silver is mined in 2016 even as its industrial demand rises. Silver output will actually fall five per cent in 2016.

Two, Chinese investors are accumulating silver futures on both the Shanghai Futures Exchange and the London Metals Exchange. Beijing bought an incredible 345 metric tons of silver in the first three months of 2016 and Chinese reserves has now risen almost 180 per cent. China’s fascination with silver goes back centuries. Even the Tang and Han dynasty emperors of the Middle Kingdom hoarded their imperial treasury with silver bullion and coins.

Three, it is still unattractive for silver producers to hedge their output. Unlike oil, there is

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