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Silver Price Finds Support as Gold Suffers Biggest Weekly Decline …

As of 2:30 p.m. EST, Silver prices (for December delivery) traded up +$0.101 (+0.55%) higher to $18.590, with today’s trading range between $18.470 and $19.035. The 52-week range for the contract sits at $13.780 – $21.225. Prices throughout this report are measured in U.S. dollars per troy ounce.

Markets around the world were quiet all week as they awaited Federal Reserve (Fed.) Chair Janet Yellen to make a speech at Jackson Hole, Wyoming today.

She stated that the case for a rate increase has improved. It is important to remember that what she says, compared to the realities of the strength of the U.S. economy are not always the same thing. The economy did show signs of weakness in the first half of 2016.

Even if the Fed implements only a gradual schedule of increases, that could still kill the economy or, at the very least, put it on life-support. This is because even a gradual path will be an acceleration from the lack of increases what-so-ever in the past few years (that enabled the market to hit record highs).

Expecting the markets to continue to rise even higher under the premise that the economy is doing well enough to justify rate increases, while markets rose on near-zero rates, is like saying that a boat should crash into more icebergs because it showed no signs of sinking after it hit the first one.

The stock markets are very fragile and

Article source: http://www.economiccalendar.com/2016/08/26/silver-price-finds-support-as-gold-suffers-biggest-weekly/

Gold and Silver Market Morning: Aug-26-2016 — Gold and silver …





 – Published: Friday, 26 August 2016 | Print  | Disqus 

Gold Today Gold closed in New York at $1,322.50 on Thursday after Wednesdays close at $1,324.30.  London opened at $1,326.75.

-         The $: was at $1.1293 from $1.1276 yesterday.

-         The dollar index was at 94.63 from 94.70 yesterday.

-         The Yen was at 100.45 from yesterdays 100.37 against the dollar.

-         The Yuan was weaker at 6.6687 from 6.6560 yesterday.

-         The Pound Sterling was at $1.3200 from yesterdays $1.3217.

 

Yuan Gold Fix

 

We were right when we said that there was no physical content to the fall in the gold price. Not only did silver prices not fall nearly as much as gold prices did, but the sale of less than 2 tonnes from the SPDR gold ETF was too small an amount to move the gold price let alone knocking it down this far.

 

LBMA price setting:  $1,324.90 after yesterdays $1,324.50.

 

The gold price in the euro was set at 1,173.20 up 0.56 from yesterdays 1,172.64.

 

Ahead of the opening in New York the gold price stood at $1,327.35 and in the euro at 1,175.48. 

 

Silver Today The silver price closed in New York at $18.56 yesterday down from $18.55 Tuesday.  Ahead of New Yorks opening the price was trading at $18.68.

 

Gold

Article source: http://news.goldseek.com/GoldForecaster/1472216400.php

Silver Price Finds Support as Gold Suffers Biggest Weekly Decline in 6 Weeks

As of 2:30 p.m. EST, Silver prices (for December delivery) traded up +$0.101 (+0.55%) higher to $18.590, with today’s trading range between $18.470 and $19.035. The 52-week range for the contract sits at $13.780 – $21.225. Prices throughout this report are measured in U.S. dollars per troy ounce.

Markets around the world were quiet all week as they awaited Federal Reserve (Fed.) Chair Janet Yellen to make a speech at Jackson Hole, Wyoming today.

She stated that the case for a rate increase has improved. It is important to remember that what she says, compared to the realities of the strength of the U.S. economy are not always the same thing. The economy did show signs of weakness in the first half of 2016.

Even if the Fed implements only a gradual schedule of increases, that could still kill the economy or, at the very least, put it on life-support. This is because even a gradual path will be an acceleration from the lack of increases what-so-ever in the past few years (that enabled the market to hit record highs).

Expecting the markets to continue to rise even higher under the premise that the economy is doing well enough to justify rate increases, while markets rose on near-zero rates, is like saying that a boat should crash into more icebergs because it showed no signs of sinking after it hit the first one.

The stock markets are very fragile and

Article source: http://www.economiccalendar.com/2016/08/26/silver-price-finds-support-as-gold-suffers-biggest-weekly/

Gold and Silver Market Morning: Aug-26-2016 — Gold and silver trying to rise from very low levels!





 – Published: Friday, 26 August 2016 | Print  | Disqus 

Gold Today Gold closed in New York at $1,322.50 on Thursday after Wednesdays close at $1,324.30.  London opened at $1,326.75.

-         The $: was at $1.1293 from $1.1276 yesterday.

-         The dollar index was at 94.63 from 94.70 yesterday.

-         The Yen was at 100.45 from yesterdays 100.37 against the dollar.

-         The Yuan was weaker at 6.6687 from 6.6560 yesterday.

-         The Pound Sterling was at $1.3200 from yesterdays $1.3217.

 

Yuan Gold Fix

 

We were right when we said that there was no physical content to the fall in the gold price. Not only did silver prices not fall nearly as much as gold prices did, but the sale of less than 2 tonnes from the SPDR gold ETF was too small an amount to move the gold price let alone knocking it down this far.

 

LBMA price setting:  $1,324.90 after yesterdays $1,324.50.

 

The gold price in the euro was set at 1,173.20 up 0.56 from yesterdays 1,172.64.

 

Ahead of the opening in New York the gold price stood at $1,327.35 and in the euro at 1,175.48. 

 

Silver Today The silver price closed in New York at $18.56 yesterday down from $18.55 Tuesday.  Ahead of New Yorks opening the price was trading at $18.68.

 

Gold

Article source: http://news.goldseek.com/GoldForecaster/1472216400.php

Silver Price Awaits Impact on Precious Metals from Yellen Comments Tomorrow

As of 3:30 p.m. EST, Silver prices (for December delivery) traded down -$0.041 (-0.22%) lower to $18.515/oz., with today’s trading range between $18.440 and $18.620. The 52-week range for the contract sits at $13.780 – $21.225.

Markets around the world were on their heels today, one day before Federal Reserve (Fed.) Chair Janet Yellen gives a speech at Jackson Hole. Some investors are assuming that the Fed. could hike rates by 25 basis-points at one of the remaining meetings this year.

Keep in mind that with elections in a couple months, it may be irresponsible for the Fed. to intervene in the marketplace during that month. According to my reports all year long, I find that the U.S. economy is no shape to withstand any hikes this year.

I should also note that even if Yellen knew that she had absolutely no expectation what-so-ever to hike rates by the end of 2016, that she would probably still try to sway market expectations with hawkish comments.

After digging into the past few annual symposiums at Jackson Hole (and markets’ performance thereafter) I have found one particular trend that traders may find interesting: When looking at the weekly performance of the SP 500 immediately following Jackson Hole, the index rose. The exception was in 2013 and 2015 but in those years, the Fed. Chair (Bernanke and Yellen respectively) didn’t speak at all.

The pattern would suggest a

Article source: http://www.economiccalendar.com/2016/08/25/silver-price-awaits-impact-on-precious-metals-from-yellen-comments-tomorrow/

Gold and Silver Market Morning: Aug-25-2016 — Gold and silver …





 – Published: Thursday, 25 August 2016 | Print  | Disqus 

Gold Today Gold closed in New York at $1,324.30 on Wednesday after Tuesdays close at $1,338.60.  London opened at $1,326.75.

-         The $: was at $1.1276 from $1.1375 yesterday.

-         The dollar index was at 94.70 from 94.67 yesterday.

-         The Yen was at 100.37 from yesterdays 100.20 against the dollar.

-         The Yuan was weaker at 6.6560 from 6.6536 yesterday.

-         The Pound Sterling was at $1.3217 from yesterdays $1.3230.

 

Yuan Gold Fix

 

Shanghai lifted prices slightly in both the morning and afternoon fixes. But they did allow the U.S. prices to guide them. While Shanghai can lead gold prices we feel that at least until October 1st they will take a low profile by remaining roughly in synch with western gold markets.

 

Perhaps the fall in gold prices was a dealer-led pull back ahead of Janet Yellens Friday speech. This discounts an announcement that a rate hike will happen very soon. If she does not imply that, then we see the gold market moving higher.

 

LBMA price setting:  $1,324.50 after yesterdays $1,337.90.

 

The gold price in the euro was set at 1,172.64 down 9.05 from yesterdays 1,181.69.

 

Ahead of the opening in New York the gold price stood at $1,324.15 and in the euro at 1,172.85. 

 

Silver Today The

Article source: http://news.goldseek.com/GoldForecaster/1472127466.php

Gold and Silver Market Morning: Aug-25-2016 — Gold and silver prices fall to support!





 – Published: Thursday, 25 August 2016 | Print  | Disqus 

Gold Today Gold closed in New York at $1,324.30 on Wednesday after Tuesdays close at $1,338.60.  London opened at $1,326.75.

-         The $: was at $1.1276 from $1.1375 yesterday.

-         The dollar index was at 94.70 from 94.67 yesterday.

-         The Yen was at 100.37 from yesterdays 100.20 against the dollar.

-         The Yuan was weaker at 6.6560 from 6.6536 yesterday.

-         The Pound Sterling was at $1.3217 from yesterdays $1.3230.

 

Yuan Gold Fix

 

Shanghai lifted prices slightly in both the morning and afternoon fixes. But they did allow the U.S. prices to guide them. While Shanghai can lead gold prices we feel that at least until October 1st they will take a low profile by remaining roughly in synch with western gold markets.

 

Perhaps the fall in gold prices was a dealer-led pull back ahead of Janet Yellens Friday speech. This discounts an announcement that a rate hike will happen very soon. If she does not imply that, then we see the gold market moving higher.

 

LBMA price setting:  $1,324.50 after yesterdays $1,337.90.

 

The gold price in the euro was set at 1,172.64 down 9.05 from yesterdays 1,181.69.

 

Ahead of the opening in New York the gold price stood at $1,324.15 and in the euro at 1,172.85. 

 

Silver Today The

Article source: http://news.goldseek.com/GoldForecaster/1472127466.php

Precious metal funds dominate after gold price surge

A gold price surge has pushed precious metal funds to the top of this year’s performance charts, reports the Financial Times.

Having fallen by 40 per cent from a 2011 peak of $1,920 an ounce in the closing months of 2015, gold has risen by 25 per cent so far this year to above $1,330 an ounce, defying predictions it would tumble to below $1,000.

For brief periods this summer, it even spent time above $1,360 an ounce.

Other precious metals have also performed well. Funds that in one way or another seek exposure to these hard commodities now make up “all 10 best-performing mutual funds in both the US and Europe”.

That’s according to data from Morningstar analysts, which says metals funds have nearly doubled investors’ money in the first seven months of the year.

Most of those funds are invested in equities linked to metals, such as mining stocks, which often enjoy an even bigger bounce than the underlying price move. Investing in such funds is the easiest way to get exposure to the gold price.

Another way to benefit is to invest in exchange-traded funds that track the gold price directly, or in physical gold, either by buying from specialist dealers or through BullionVault or the Royal Mint, who will also store it for you.

When rates rise, the opportunity cost of holding non-yielding gold also goes up, which tends to weigh on demand. Rises in rates also boost the dollar, against which the metal is often held as a hedge.

After rates edged up last December, the

Article source: http://www.theweek.co.uk/gold-price/61682/precious-metal-funds-dominate-after-gold-price-surge

Gold and Silver Market Morning: Aug-24-2016 — Gold and silver …





 – 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

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/