“Tug of War” in Gold and Silver, “Blame Bernanke” for Recent Volatility in Markets

London Gold Market Report

from Ben Traynor, BullionVault

Wednesday 12 June 2013, 08:45 EDT

 

“Tug of War” in Gold and Silver, “Blame Bernanke” for Recent Volatility in Markets

 

GOLD PRICES hovered just below $1380 an ounce Wednesday morning in London, with silver trading around $21.80, after the metals failed to break through $1380 and $22 respectively.

 

European stock markets ticked higher by lunchtime – with the exception of Germany’s DAX – regaining some of yesterday’s losses, [...]

Gold Falls to 3-Week Low with “Talk of Slowing QE” Weighing on Markets

London Gold Market Report

from Ben Traynor, BullionVault

Tuesday 11 June 2013, 07:00 EDT

 

Gold Falls to 3-Week Low with “Talk of Slowing QE” Weighing on Markets

 

SPOT GOLD fell to three week lows below $1370 an ounce Tuesday, as stocks and commodities also fell amid ongoing speculation over when the US Federal Reserve might begin reducing the size of its quantitative easing program.

 

“Gold remains bearish while trading below the $1424 current June high,” reckons [...]

Precious Metals Bounce, But Rally Seen “Over” as US Fed Tapering Talk Hits Emerging Markets

London Gold Market Report

from Adrian Ash, BullionVault

Mon 10 June, 08:25 EST

 

Precious Metals Bounce, But Rally Seen “Over” as US Fed Tapering Talk Hits Emerging Markets

 

The GOLD PRICE rallied from a 1-week low at $1376 per ounce Monday morning in London, edging back up to $1383 as world stock markets rose.

 

Silver fell within 20¢ of mid-May’s 30-month low, before rallying to $21.80 per ounce.

 

Commodity prices fell after weaker-than-expected Chinese industrial data. US [...]

US Jobs Data Whip Bullion Prices as Hedge Funds Stay Bearish, Indian Jewelers Decry Import Curbs

London Gold Market Report

from Adrian Ash, BullionVault

Fri 7 June, 08:50 EST

 

US Jobs Data Whip Bullion Prices as Hedge Funds Stay Bearish, Indian Jewelers Decry Import Curbs

 

GOLD and silver prices whipped sharply Friday lunchtime in London, as new US jobs data matched analyst forecasts with a 175,000 rise in Non-Farm Payrolls for May and a slight rise in the jobless rate to 7.6%.

 

Having touched 1-week highs above $1419 per ounce on Thursday, [...]

India’s Latest Anti-Gold Moves “Won’t Be Effective” as European Central Banks Stick, Equities Bounce

London Gold Market Report

from Adrian Ash, BullionVault

Thurs 6 June, 08:25 EST

 

India’s Latest Anti-Gold Moves “Won’t Be Effective” as European Central Banks Stick, Equities Bounce

 

The WHOLESALE price of gold flipped yet again either side of $1400 on Thursday in what dealers called “choppy” trade ahead of tomorrow’s much-anticipated US jobs data for May.

 

Asian stock markets followed Wall Street’s overnight loss to finish lower, but European equities rallied as major government bonds held [...]

Precious Metals Leasing Explained

Precious Metals Leasing Explained

by Miguel Perez-Santalla, BullionVault

Wednesday, 5 June 2013

 

What is precious metals leasing, and why is it done…?

 

LEASING is an integral part of the precious metals market, writes Miguel Perez-Santalla at BullionVault.

 

Why is it necessary? For a diverse number of reasons, the first is the need for industry to borrow instead of buying outright the metal. This enables them to avoid owning the metal at a fixed price if they [...]

Weak US Jobs Data & Ignoring Indian Move Leaves Gold “in Tight Range” as China’s Imports Fall

London Gold Market Report

from Adrian Ash, BullionVault

Weds 5 June, 08:35 EST

 

Weak US Jobs Data & Ignoring Indian Move Leaves Gold “in Tight Range” as China’s Imports Fall

 

GOLD BULLION traded for London delivery rose back through $1400 for the fifth day running on Wednesday morning, rising as the US Dollar slipped following weaker-than-expected jobs data.

 

Gold priced in the Euro ticked higher to €1075 per ounce, but was unchanged for the week so far [...]

Gold Slips as India Blocks Imports, Analysts See “Short-Covering” Rally to $1450 or More

London Gold Market Report

from Adrian Ash, BullionVault

Tues 4 June, 08:00 EST

 

Gold Slips as India Blocks Imports, Analysts See “Short-Covering” Rally to $1450 or More

 

The WHOLESALE gold price slipped back below $1400 per ounce Tuesday morning in London as world stock markets rose and the Indian government tightened restrictions on gold importers once again.

 

After Monday’s weak US manufacturing data gave gold what Commerzbank calls “sufficient fuel” to touch the $1415 level – identified [...]

Speculators’ Bullishness on Gold Sinks, But Prices Rally as World Equities Dive

London Gold Market Report

from Adrian Ash, BullionVault

Mon 3 June, 07:50 EST

 

Speculators’ Bullishness on Gold Sinks, But Prices Rally as World Equities Dive

 

LONDON PRICES to buy gold and silver rose in volatile trade Monday morning, recovering Friday evening’s late losses as Asian and European stock markets fell hard.

 

Far Eastern premiums over and above international prices continued to ease back, according to wholesale dealers.

 

“Bids [to buy gold] seemed to vanish into thin air,” says one, [...]

Gold Slips from 2-Week High, Chinese “Frenzy Won’t Continue” as Japan Fails to Shake Deflation

London Gold Market Report

from Adrian Ash, BullionVault

Fri 31 May, 08:15 EST

 

Gold Slips from 2-Week High, Chinese “Frenzy Won’t Continue” as Japan Fails to Shake Deflation

 

The PRICE of gold slipped from a new 2-week high in London trade Friday morning, nearing the weekend 2.9% above last week’s finish, but losing more than 4.6% from the start of May.

 

Silver also edged lower, cutting its weekly gain to 0.3% and standing 7.6% lower for the [...]

Gold $1400 Key for Both Western Traders and Asian Buyers as Europe Shrugs Off 2nd Slump in Japanese Equities

London Gold Market Report

from Adrian Ash, BullionVault

Thurs 30 May, 08:10 EST

 

Gold $1400 Key for Both Western Traders and Asian Buyers as Europe Shrugs Off 2nd Slump in Japanese Equities

 

SILVER and GOLD retreated from one-week highs Thursday morning in London, dropping back as European stock markets reversed earlier losses.

 

Tokyo’s Nikkei stock index had ended the day 5.5% lower, its second slump in 6 sessions after nearly doubling in six months to hit 5-year [...]

“Vicious” Gold Moves “Insignificant” for Long-Run Focus as US Bond Yields Jump, Asian Shortages Spread

London Gold Market Report

from Adrian Ash, BullionVault

Weds 29 May, 08:10 EST

 

“Vicious” Gold Moves “Insignificant” for Long-Run Focus as US Bond Yields Jump, Asian Shortages Spread

 

WHOLESALE PRICES for physical gold rose Wednesday morning in London, hitting almost $1395 per ounce to gain 0.5% for the week so far.

 

Silver lagged gold, trading in line with last week’s finish at $22.42 per ounce, while world stock markets fell together with commodities and major government [...]

What’s Really Happening with China’s Silver Demand?

What’s Really Happening with China’s Silver Demand?

by Miguel Perez-Santalla, BullionVault

Tuesday, 28 May 2013

 

China’s demand for silver fell hard in April. But is that all there is…?

 

ANALYSTS at Barclays Bank recently noted that silver imports were down 28% in the month of April year on year.

 

But in an article reporting that news, the author makes it sound like demand was also off significantly for unwrought silver, for silver powder, and for jewelry manufacturing as [...]

Central Banks Show “Faith in Gold” as Western Investment “Hits Obstacle”, Indian Policies Risk Surge in Smuggling

London Gold Market Report

from Adrian Ash, BullionVault

Tues 28 May, 08:05 EST

 

Central Banks Show “Faith in Gold” as Western Investment “Hits Obstacle”, Indian Policies Risk Surge in Smuggling

 

ALTHOUGH silver rallied, the price of gold held onto an earlier drop Tuesday morning in London, retreating from last week’s closing levels as UK and US traders returned from national holidays.

 

Gold edged down to $1380 per ounce, half-a-percent below Friday, even as the US Dollar slipped [...]

Gold “Trying to Build Base” as Retail Demand Counters More ETF Selling

London Gold Market Report

from Adrian Ash, BullionVault

Fri 24 May, 08:45 EST

 

Gold “Trying to Build Base” as Retail Demand Counters More ETF Selling

 

The GOLD PRICE fell $10 per ounce after reaching almost $1400 for the 5th time this week in London trade Friday morning.

 

Silver held tight around $22.50 per ounce, managing only one-third of gold’s 2.0% gain for the week.

 

After yesterday’s 7% plunge Japan’s stock market bounced, but other Asian equities fell, [...]

Bullion Rallies Despite “Losing US Fed Prop” as Stock Markets Sink on Weak China Data

London Gold Market Report

from Adrian Ash, BullionVault

Weds 22 May, 08:45 EST

 

Bullion Rallies Despite “Losing US Fed Prop” as Stock Markets Sink on Weak China Data

 

BOTH gold and silver rose in Asian and London trade Thursday morning, defying a sharp slide in global stock markets to gain 3.0% rally from yesterday’s sharp sell-off.

 

Commodity prices fell as major government bonds rose but weaker Eurozone debt slipped, pushing interest rates higher.

 

Tokyo’s Nikkei index – [...]

Asian Gold Premiums Hit New Highs as Europe Urged to Start “Aggressive QE”

London Gold Market Report

from Adrian Ash, BullionVault

Weds 22 May, 08:45 EST

 

Asian Gold Premiums Hit New Highs as Europe Urged to Start “Aggressive QE”

 

BULLION prices rose throughout Asian and early London trade on Wednesday morning, touching $1398 per ounce for the third time this week and recovering 4.4% from Monday’s one-month low.

 

Silver rose more steadily, and was capped below $22.80 as energy prices slipped and agricultural commodities held flat.

 

Tuesday’s retreat in the [...]

“Short Squeeze” Fades in Precious Metals, Gold Miner Adds to Hedges, Contrarians Spot “Time to Buy”

London Gold Market Report

from Adrian Ash, BullionVault

Tues 21 May, 09:10 EST

 

“Short Squeeze” Fades in Precious Metals, Gold Miner Adds to Hedges, Contrarians Spot “Time to Buy”

 

The PRICE of both silver and gold slipped back in London on Tuesday morning, cutting into yesterday’s rapid gains from 4-year and 1-month lows respectively.

 

World stock markets stalled after hitting a series of near and new all-time highs so far this month.

 

The British Pound fell hard – [...]

Fresh Plunge in Precious Metals “Natural” as Bearish Money Managers Hold “Upper Hand” Over Asian Household Buyers

London Gold Market Report

from Adrian Ash, BullionVault

Mon 20 May, 08:15 EST

 

Fresh Plunge in Precious Metals “Natural” as Bearish Money Managers Hold “Upper Hand” Over Asian Household Buyers

 

WHOLESALE PRICES for gold and silver rallied from a fresh plunge in early London dealing on Monday, rising to stand unchanged and 2.3% lower respectively from the end of last week’s trade by lunchtime.

Asian stock markets closed sharply higher, even as the Japanese Yen reversed [...]

Pension Funds “Selling Gold ETFs”, Dollar Weakness Seen Offering “Only Hope” Short Term

London Gold Market Report

from Adrian Ash, BullionVault

Fri 17 May, 08:15 EST

 

Pension Funds “Selling Gold ETFs”, Dollar Weakness Seen Offering “Only Hope” Short Term

 

GOLD PRICES failed to hold a rally above $1380 per ounce in London on Friday morning, trading 5% down for the week as world stock markets held steady.

 

Both the Euro and British Pound also cut their mid-week rallies against the Dollar, holding gold prices at €1070 and £904 per [...]

Surge in Retail Gold Demand “Outweighed by ETF Selling” as Far East Premiums Hit New Highs

London Gold Market Report

from Adrian Ash, BullionVault

Thurs 16 May, 08:10 EST

 

Surge in Retail Gold Demand “Outweighed by ETF Selling” as Far East Premiums Hit New Highs

 

GLOBAL GOLD prices fell further at the start of London trade on Thursday, hitting new 1-month lows beneath $1370 per ounce but leaving gold bars traded in East Asia at record-high premiums.

 

“[Western] investors appear to be tired of gold as a safe haven,” says Mitsubishi analyst [...]

Precious Metals Hit 3-Week Lows, ETFs “Could Sell Another 250 Tonnes of Gold”

London Gold Market Report

from Ben Traynor, BullionVault

Wednesday 15 May 2013, 08:15 EDT

 

Precious Metals Hit 3-Week Lows, ETFs “Could Sell Another 250 Tonnes of Gold” 

 

WHOLESALE gold bullion prices fell to three week lows around $1410 an ounce Wednesday, as European stock markets ticked higher, reversing earlier losses following disappointing Eurozone growth data.

 

Gold in Euros fell as low as €1094 an ounce, while gold in Sterling fell below £930 an ounce.

 

“Gold spot is approaching [...]

Stronger Dollar Means Gold “Has Lost Safe Haven Appeal”, But Sentiment “Has Turned Positive” in India

London Gold Market Report

from Ben Traynor, BullionVault

Tuesday 14 May 2013, 07:30 EDT

 

Stronger Dollar Means Gold “Has Lost Safe Haven Appeal”, But Sentiment “Has Turned Positive” in India

 

SPOT GOLD fell towards three-week lows Tuesday, dropping as low as $1423 per ounce, as the Euro also fell against the Dollar after comments from those attending today’s Eurozone finance ministers’ meeting appeared to show disagreement over the creation of a banking union.

 

Days after Germany’s [...]

Precious Metals Fall as US Dollar Holds Gains, India’s New Import Restrictions “Could Cut Gold Imports by 50%”

London Gold Market Report

from Ben Traynor, BullionVault

Monday 13 May 2013, 07:15 EDT

 

Precious Metals Fall as US Dollar Holds Gains, India’s New Import Restrictions “Could Cut Gold Imports by 50%”

 

SPOT MARKET gold bullion prices fell to $1430 an ounce Monday, 1.2% down on where they ended last week, as stock markets also fell and the US Dollar held onto most of its gains from last week.

 

Silver fell to $23.70 an ounce – [...]

Really Real Rates vs. Gold

Really Real Rates vs. Gold

by Adrian Ash, BullionVault

Friday, 10 May 2013

 

Quantitative easing and zero rates haven’t worked. So let’s have much more of ‘em, eh…?

 

GOLD attracts investment capital when other asset classes fail to deliver.

 

So now equities have clearly regained their appeal after more than a decade of what finance professionals would rather we called “sub-optimal” returns, gold investing has lost its urgency for money managers. Indeed, it’s become a neat [...]

Gold “Could Retest $1322 Low”, G7 Meeting “A Chance to Consider More Monetary Activism”

London Gold Market Report

from Ben Traynor, BullionVault

Friday 10 May 2013, 07:30 EDT

 

Gold “Could Retest $1322 Low”, G7 Meeting “A Chance to Consider More Monetary Activism”

 

SPOT MARKET gold bullion prices fell to two-week lows Friday, drifting lower towards $1440 an ounce during this morning’s London session before dropping sharply through that level, as stocks gained and most commodities fell as the Dollar strengthened against major currencies.

 

Silver fell to $23.34 an ounce, while copper [...]

Gold “Still Bearish” as Western Buying “Cools”, But Indian Festival Demand Seen Matching ETF Outflows

London Gold Market Report

from Adrian Ash, BullionVault

Thurs 9 May, 07:50 EST

 

Gold “Still Bearish” as Western Buying “Cools”, But Indian Festival Demand Seen Matching ETF Outflows

 

SPOT GOLD PRICES slipped back below $1470 per ounce Thursday morning in London, drifting as world stock markets failed to follow Wall Street higher, where equities yesterday hit new all-time highs.

 

Silver held above $24.00 per ounce, just shy of last week’s finish, as commodities slipped overall.

A rise in [...]

“Safe Haven Demand Lower” for Gold as Stock Markets Hit New Highs

London Gold Market Report

from Ben Traynor, BullionVault

Wednesday 8 May 2013, 07:30 EDT

 

“Safe Haven Demand Lower” for Gold as Stock Markets Hit New Highs

 

WHOLESALE market prices for buying gold climbed back above $1460 an ounce during Wednesday morning’s London trading, in line with its range over the last week, as stocks gained and longer-dated US Treasuries dipped ahead of an auction of 10-year bonds later today.

 

Silver climbed back above $23.90 an ounce, while copper [...]

ETF Selling “Key Downside Risk” as Gold “Struggles in Sideways Resistance Range”

London Gold Market Report

from Ben Traynor, BullionVault

Tuesday 7 May 2013, 07:00 EDT

 

ETF Selling “Key Downside Risk” as Gold “Struggles in Sideways Resistance Range”

 

WHOLESALE gold market prices fell to $1460 an ounce Tuesday morning, around ten Dollars lower than where it closed last week, as the FTSE in London ticked higher following yesterday’s UK bank holiday.

 

Other European stock markets also edged higher, while the Euro gained against the Dollar immediately following the [...]

Precious Metals “Rangebound” Ahead of US Nonfarms, India’s Central Bank Proposes New Gold Restrictions

London Gold Market Report

from Ben Traynor, BullionVault

Friday 3 May 2013, 07:30 EDT

 

Precious Metals “Rangebound” Ahead of US Nonfarms, India’s Central Bank Proposes New Gold Restrictions

 

WHOLESALE gold prices hovered around $1480 an ounce most of Friday morning, around 1% up on the week, as European stock markets edged higher and the Euro regained some ground against the Dollar ahead of the release of key US jobs data for April, including the latest [...]

Gold Speculation and the Comex

Gold Speculation and the Comex

by Ben Traynor, BullionVault

Thursday, 2 May 2013

 

What exactly does ‘speculative net long’ mean…?

 

EVERY FRIDAY, the Commodity Futures Trading Commission publishes data that enable analysts to ‘take the pulse’ of various commodity markets.

 

The Commitments of Traders (CoT) report gives the aggregate positions held by traders from the previous Tuesday, including the number of long contracts (that stand to benefit if prices rise) and short contracts (that benefit if they fall).

 

Included [...]

Shanghai’s Gold Premium “Crashes” as China Returns from Labor Day, ECB Cut Buoys Euro

London Gold Market Report

from Adrian Ash, BullionVault

Thurs 2 May, 08:10 EST

 

Shanghai’s Gold Premium “Crashes” as China Returns from Labor Day, ECB Cut Buoys Euro

 

LONDON PRICES for gold and silver both ticked higher Thursday morning, recovering half of Wednesday’s 2.4% and 4.6% falls respectively.

 

European stock markets reversed earlier losses and commodities also bounced after the European Central Bank decided – as widely expected – to cut its key interest rate to a [...]

Chocolate for Cocoa, Or What’s Gold Really Worth?

Chocolate for Cocoa, Or What’s Gold Really Worth?

by Adrian Ash, BullionVault

Wednesday, 1 May 2013

 

Spying direction is hard enough in precious metals right now without confusing form and location…

 

SO WHAT’S your gold or silver really worth today? Like everything else, it’s worth the most that somebody else will pay you for it, right here and now. That’s the simple truth, as last month’s crash proved all too plainly.

 

There were no gold buyers [...]

Precious Metals “Trading Sideways” Ahead of Fed Decision

London Gold Market Report

from Ben Traynor, BullionVault

Wednesday 1 May 2013, 07:30 EDT

 

Precious Metals “Trading Sideways” Ahead of Fed Decision

 

WHOLESALE prices for gold bullion drifted lower Wednesday morning in London, dipping below $1470 an ounce, though it remained slightly up on where it started the week after two-and-a-half days trading in a tight range, with China’s markets closed since last Friday until tomorrow for the Labor Day holiday.

 

Silver meantime fell towards $24 an [...]

Gold’s Recovery “Appears to be Faltering”, But “Diminishing Expectations” for Early End to QE Ahead of Fed Meeting

London Gold Market Report

from Ben Traynor, BullionVault

Tuesday 30 April 2013, 07:15 EDT

 

Gold’s Recovery “Appears to be Faltering”, But “Diminishing Expectations” for Early End to QE Ahead of Fed Meeting

 

FOLLOWING a dip during Asian trading, the gold price climbed back above $1470 per ounce Tuesday morning in London, broadly in line with where it was a day earlier, with China’s markets shut for this week’s Labor Day holiday.

 

Silver ended the morning in London around [...]