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Gold Prices Get a Boost While Oil Spirals Downwards

Posted on 23 January 2015 by VRS  |  Email |Print

Gold’s relationship to oil has been turned on its head. Investors who saw little value in the metal last month, as plunging energy costs curbed inflation, have started buying in January even as crude continues to tumble. Bullion is off to its best start to a year since 1980 while West Texas Intermediate is trading near the lowest since April 2009.
The correlation between the two commodities that reached a 16-month high in December is now the weakest in five months. The about-face reflects an investor shift in focus away from the benefits of cheap fuel to the risk of economy-damaging deflation. Oil costs are so low that gold buyers are seeking a hedge against prolonged declines in consumer prices………………………………………..Full Article: Source

Is this the start of a gold bull market?

Posted on 23 January 2015 by VRS  |  Email |Print

Many strategists are saying a gold bull market has just begun, as investors crowd into the one asset that isn’t getting debased by central banks. Chart analyst point to the price breaking out of long-term resistance levels.
“The breakout above technical re-entrance levels ($1,250) has placed a new floor from which the rally is likely to continue,” said Peter Cardillo, chief market economist at Rockwell Global Capital. “We look for a climb towards to $1,325-$1,350 in the near term.”……………………………………….Full Article: Source

Gold reclaims $1,300 level as ECB rolls out QE

Posted on 23 January 2015 by VRS  |  Email |Print

Gold prices strengthened Thursday to reclaim the key $1,300 mark after the European Central Bank announced a full-blown stimulus plan. Gold for February delivery rose $7, or 0.5%, to settle at $1,300.70 an ounce while March silver futures SIH5, -0.03% advanced 17 cents to $18.36 an ounce in electronic trading.
On Thursday, ECB President Mario Draghi announced an open-ended bond-buying program worth €60 billion a month as part of its quantitative easing program. The central bank said it won’t buy more than a third of any issuer’s debt………………………………………..Full Article: Source

Gold and Silver Buyers Take a Shine to Precious Metals Again

Posted on 23 January 2015 by VRS  |  Email |Print

Gold and silver are getting another turn in the spotlight, luring investors worried about slowing global growth and surprises by central banks. On Thursday, the European Central Bank offered the latest reason to pile into precious metals by unleashing a bigger-than-expected bond-buying program amid continued worries about Europe’s economy.
Gold futures ended above $1,300 a troy ounce for the first time since August, while silver neared bull-market territory, defined as a 20% increase from a recent low. Gold and silver are drawing buyers of all stripes, a sign fears about a worsening economic outlook run deep in financial markets………………………………………..Full Article: Source

Speculators Looking for Havens from Slowing Growth are Piling Into Silver

Posted on 23 January 2015 by VRS  |  Email |Print

Silver headed for a bull market in its best start to a year in more than three decades as the European Central Bank expanded economic stimulus measures, boosting demand for the metal as a store of value.
Holdings in exchange-traded products backed by the metal have posted three straight weekly gains, while U.S. government data show money managers raised their net-bullish wagers to the highest since August. An ounce of gold bought as much as 71.5 ounces of silver on Thursday, compared with an average of 58 in the past decade, signaling the white metal is inexpensive relative to gold………………………………………..Full Article: Source

Gold fifth best performing commodity of 2014

Posted on 22 January 2015 by VRS  |  Email |Print

Before you gold bulls out there cry ‘rubbish’ it should be borne in mind that last year was a disastrous year for virtually all commodities across the board. Only four internationally traded commodities showed gains over the year, while gold was the least bad negative performer among the rest with a drop of only 1.7% – but has shot up nearly 10% since the start of the year.
Indeed, as we pointed out in a recent article, gold performed positively over 2014 in virtually every currency other than the U.S. dollar. So despite being a disappointing year for dollar area gold bulls, it will have been a positive year in all non-dollar tied nations………………………………………..Full Article: Source

Gold above $1,300 for first time in 5 months

Posted on 22 January 2015 by VRS  |  Email |Print

Gold prices have risen above $1,300 an ounce for the first time since August 2014. It’s because the global economic slowdown, expectation of ECB ‘easy money’, and currency volatility make investors turn to a safe haven, gold trader Mark O’Byrne told RT.
The spot price has jumped by 1.5 percent to $1,303.63 for an ounce on Wednesday early trading. February futures rose by 1.2 percent to $1,292.50 an ounce on the New York Comex. Last week the price rose by 4.7 percent for the first time since 2013. Gold has added 10 percent to its value since the beginning of the year………………………………………..Full Article: Source

Gold Futures Approach $1,300 to Post Longest Rally in 11 Months

Posted on 21 January 2015 by VRS  |  Email |Print

Gold futures approached $1,300 an ounce to post the longest rally in 11 months as signs of slowing global economies boosted demand for the metal as a haven. Assets in the SPDR Gold Trust, the biggest exchange-traded product backed by the metal, last week rose 3.3 percent, the most since May 2010.
Economists expect European Central Bank President Mario Draghi to make his biggest push yet to steer the euro area away from deflation by announcing quantitative easing on Jan. 22, according to a Bloomberg survey………………………………………..Full Article: Source

Will Suppressed Silver Prices Finally Soar?

Posted on 21 January 2015 by VRS  |  Email |Print

Even with price capping by the largest eight silver shorts, silver can jump quickly to $20 or higher. Without such price capping, silver can jump by $10 to $20 in a hurry. A little more than four years ago, silver ran to almost $50 in a matter of months. The setup today is infinitely better.
Without a doubt there is a radical change in JPMorgan Chase’s formerly concentrated short position in commodity exchange (COMEX) silver futures. In the six years in which I had first discovered that JPMorgan, as a result of acquiring Bear Stearns, had become the biggest COMEX silver short, the bank has never held a smaller short position than it does now………………………………………..Full Article: Source

Palladium Is Rarer Than Gold and, Thanks to Cheap Oil, Now Rarer Still

Posted on 21 January 2015 by VRS  |  Email |Print

America’s renewed love affair with the automobile is tightening global supplies of palladium, a metal rarer than gold. While each car requires only a few grams of palladium, demand in 2015 will probably exceed supply for a fourth consecutive year, according to Johnson Matthey Plc, a maker of catalytic converters for automobiles that use the metal to reduce harmful tailpipe emissions.
Global car sales rose 3.4 percent last year to a record 81.6 million vehicles, Macquarie Group Ltd. said in a report last week………………………………………..Full Article: Source

LBMA top gold forecaster: gold price to average $1,321 in 2015, silver $18.56

Posted on 20 January 2015 by VRS  |  Email |Print

LBMA’s top gold forecaster over the years, Sharps Pixley’s Ross Norman, is bucking the analyst consensus with a $1,321 average gold price forecast for 2015. Silver $18.56, Platinum $1,268, Palladium $876.
In his submissions to this year’s LBMA precious metals forecasting competition, Ross Norman who heads up London bullion broker Sharps Pixley, and who has been probably the most successful forecaster in the LBMA panel in the past, says he is going out on a limb with his forecast for the gold price average this year at $1321………………………………………..Full Article: Source

Gold price fall as demand drops

Posted on 20 January 2015 by VRS  |  Email |Print

Gold prices were lower in Europe Monday, settling lower on reduced physical demand after the highs of the previous week. Spot gold was near its 18-month high at $1,276.30 a troy ounce in morning European trading, down 0.3 per cent.
“Physical demand is likely to diminish with prices now elevated,” said Jonathan Butler, a precious metals strategist at Mitsubishi. In addition, the Martin Luther King national holiday in the US meant volumes were thinner. Palladium is hovering near three-month lows - having touched an intra-day low of $US752.26 - despite the underlying supply and demand landscape being in good shape………………………………………..Full Article: Source

Gold to average $1,252 in ’15, silver $17.63 – FastMarkets’ Adams

Posted on 20 January 2015 by VRS  |  Email |Print

FastMarkets analyst William Adams is mildly bullish on gold this year, he said in his yearly forecast, because of a host of geopolitical risks and an over-extended dollar. The gold price will average $1,252 per ounce in 2015 between a high of $1,292 and a low of $1,172, he said. The yellow metal was last around four-month highs at $1,276.20/1,277.10.
“The drivers in the gold market have over the past two years switched from institutional investor interest to physical demand from fabricators and investors in bars and coins,” Adams said. “During this period, confidence in the financial system has been restored while safe-haven demand has fallen. With equity markets setting all-time highs, the opportunity cost of holding gold has increased.”……………………………………….Full Article: Source

Gold rallies smartly, targets $1,300

Posted on 19 January 2015 by VRS  |  Email |Print

It was a spectacular week for gold. The metal gained 4.6 per cent to close at $1,280/ounce. The decision by the Swiss National Bank to let the Swiss franc rise against the euro and to cut interest rates to a negative 0.75 per cent stoked demand for gold.
The US SPDR Gold Trust, the largest gold-backed exchange traded fund, saw its holdings rise by over 23 tonnes to 730.89 tonnes in the week. The US dollar index moved to hit a high of 93.26, but closed at 92.5, only marginally higher from the previous week’s close. The rally in the Swiss franc and the disappointing numbers from the US pegged the greenback lower………………………………………..Full Article: Source

Gold price rally driven by safe-haven status

Posted on 19 January 2015 by VRS  |  Email |Print

Gold prices extended their rally to lock in a 5 per cent gain for the week as worries about global growth and turbulence in currency markets spurred investment demand for haven assets.
Gold for February delivery, the most actively traded contract, rose $US12.10, or 1 per cent, to $US1276.90 an ounce on the Comex division of the New York Mercantile Exchange. This was the highest settlement price since August 29 and the biggest weekly gain since July 2013………………………………………..Full Article: Source

UBS lower 2015 gold price forecast, others also revised downward

Posted on 16 January 2015 by VRS  |  Email |Print

UBS has downgraded its average gold price forecast for gold largely because of greater downside risks stemming from lower oil prices and the implied absence of an inflation threat, it said. The broker lowered its 2015 gold price forecast to $1,190 from $1,200 – the spot metal price was last at a little-changed $1,228/1,228.70 per ounce.
“While the expected price direction remains the same, the magnitude of our previous price expectations was too aggressive and needed to be revised lower,” it said in a release on Thursday. “Fed [monetary policy] normalisation and dollar strength are considerable hurdles for gold, but reduced market length and the fact that much of the adjustment had already been made in the last couple of years should help limit the force behind a move lower,” it added………………………………………..Full Article: Source

Why 2015 will be the year for gold: Top analyst

Posted on 16 January 2015 by VRS  |  Email |Print

Suddenly, gold is getting its groove back. After two straight years of losses, gold is off to its best start to year since 2008. And, according to one well known analyst, 2015 could have gold bugs smiling.
Sterne Agee’s precious metals and mining analyst Michael Dudas said that gold should continue to benefit from central banks’ efforts to devalue their currencies. Gold prices rose more than 2 percent Thursday to a four-month high after the Swiss National Bank shocked the world and said it would abandon its euro currency peg. The precious metal is now up more than 6 percent year to date………………………………………..Full Article: Source

Gold Demand Seen Expanding 15% by HSBC on Asia-to-ETP Buying

Posted on 16 January 2015 by VRS  |  Email |Print

Gold demand will rebound in 2015 as bullion consumption in Asia increases and investors return to exchange-traded products backed by the metal, according to HSBC Securities (USA) Inc.
Global demand may rise 15 percent to 4,127 metric tons this year, analysts James Steel and Howard Wen wrote in a report dated Jan. 14. Consumption reached a record 4,582.3 tons in 2011, when prices climbed to a peak of $1,921.17 an ounce, according to data from the World Gold Council………………………………………..Full Article: Source

Has gold finally bottomed?

Posted on 16 January 2015 by VRS  |  Email |Print

As more and more of the market turns bullish on the metals, I think it may be time to be looking for a set up for lower lows within the next few weeks. I know that sounds quite counter-intuitive, but that is simply how markets — and especially metals — work.
In November, as the metals and mining stocks were bottoming, more and more articles were coming out about how it is time to sell metals. It was the column written by Howard Gold on Marketwatch, calling for the same, which prompted me to write my column at that time. However, unlike all the others being published at that time, I was looking to the long side………………………………………..Full Article: Source

This is Why Trees Come Down When the Gold Price Goes Up

Posted on 16 January 2015 by VRS  |  Email |Print

A new study establishes a connection between demand for gold and deforestation. The steep rise in the price of gold is a factor in the heightened rate of deforestation in South America, a new study has found.
The study, conducted by researchers from the University of Puerto Rico, says small-scale miners now find it profitable to try and extract the metal from low-grade seams underneath the region’s rain forests………………………………………..Full Article: Source

Will Silver Turn Things Around in 2015?

Posted on 16 January 2015 by VRS  |  Email |Print

Silver had a tough 2014. Prices peaked around $22 last February, and except for a couple of stronger months over the summer, silver was mostly in a downward trend to end the year under $16.
As 2014 came to a close, so did the weakness in silver prices that had been plaguing the market for the last few months. Shares of many silver-related stocks were priced for a disaster. The new year is still young, but silver prices have bucked the weakness in oil and moved higher in the first few weeks of 2015………………………………………..Full Article: Source

It’ll again be a buyers’ market for gold in ‘15 as US rate hikes seen

Posted on 15 January 2015 by VRS  |  Email |Print

Gold will extend losses this year as US interest rates increase, providing an opportunity for investors to buy the metal to benefit from a rebound spurred by Asian demand, according to Barclays.
“We expect gold prices to test new lows in 2015,” analysts Suki Cooper and Kevin Norrish wrote in a report dated yesterday (Monday), predicting that prices will drop to less than $1,130 an ounce. “The lows of this year and next are likely to offer attractive entry-level prices for the longer-term investor.”……………………………………….Full Article: Source

Marc Faber’s Big Bet: Gold to Rise 30% in 2015

Posted on 15 January 2015 by VRS  |  Email |Print

Famed investor Marc Faber, famously known as “Dr Doom” for correctly forecasting market crashes and for having a perennially bearish outlook, expects gold prices to rise by 30 per cent in 2015. In Indian rupee, gold could surge from Rs. 27,000 to Rs. 35,000 per 10 gram, without adjusting for exchange rate and duties, if his forecast comes true.
“I’m positive that gold will go up substantially (in 2015) say 30 per cent,” Market Watch quoted Dr Faber as saying at Societe Generale’s global strategy presentation in London on Tuesday………………………………………..Full Article: Source

Nichols: Gold price has cleared top two hurdles in 2015

Posted on 15 January 2015 by VRS  |  Email |Print

Gold on Wednesday continued its strong 2015 run with futures contracts on the New York Mercantile Exchange adding as much as $10 an ounce to change hands for $1,244 an ounce, the highest since October 22. Gold has now advanced nearly 5% so far this year and is up sharply from close to four-year lows of $1,143 hit early November.
Expert commentator and economist Jeffrey Nichols of American Precious Metals Advisors, argues in his latest missive titled Gold: Pregnant with Possibility on Wednesday that in 2015 gold will shake off three years of underperformance and continue its long term uptrend:……………………………………….Full Article: Source

Gold price may average $1,215/oz in 2015, possible low of $1,050/mt: Mitsui

Posted on 14 January 2015 by VRS  |  Email |Print

The gold price is likely to average $1,215/oz in 2015 with a forecast high of $1,340/oz and a possible low of $1,050/oz, Mitsui said in a price outlook piece Tuesday. Writing in the research analyst David Jollie said that the surprise decision by the Indian authorities to relax the 80:20 rule for gold late in 2014 was a positive for the gold market.
As such he predicts that Indian demand should increase in 2015. The 80:20 rule meant that 20% of all imports had to be reexported. This was on top of a 10% import tax, which remains in place………………………………………..Full Article: Source

Barclays expects gold prices to struggle as Fed plans rate hike

Posted on 14 January 2015 by VRS  |  Email |Print

Barclays said on Monday it expects gold prices to test new lows in 2015 as the yellow metal battles with a strengthening dollar and the first interest rate hike in nine years by the U.S. Federal Reserve. The bank forecasts prices to average $1,170 per ounce, down from its earlier view of $1,180. It forecast the 2016 gold price to be at $1,150 an ounce.
Gold prices, which tend to struggle during periods of rising interest rates, come under pressure as the market anticipates a rate hike in the months leading up to the Fed announcement, Barclays said………………………………………..Full Article: Source

Market doomsayer Marc Faber: Gold will rally 30% in 2015

Posted on 14 January 2015 by VRS  |  Email |Print

Gold has absorbed its fair share of the commodities-market blows in recent years, but now is the time to move back into the precious metal, according to superbear Marc Faber. “I’m positive [that] gold GCG5, -0.03% will go up substantially [in 2015] — say 30%,” Faber, whose investment letter is called the Gloom Boom Doom Report, said at Société Générale’s global strategy presentation in London on Tuesday.
“My belief is that the big surprise this year is that investor confidence in central banks collapses. And when that happens — I can’t short central banks, although I’d really like to, and the only way to short them is to go long gold, silver and platinum,” he said. “That’s the only way. That’s something I will do.”……………………………………….Full Article: Source

Gold to average $1,230/oz in H1, silver $17 – Heraeus

Posted on 14 January 2015 by VRS  |  Email |Print

Physical demand for gold from China may offset the various bearish factors that currently cloud the market, Heraeus said. The precious metals group sees gold trading in a range of $1,125/1,325 per ounce and averaging $1,230 in the first half of the year, a period when US interest-rate rises and further declines in oil prices are likely.
“Physical demand from China may offer compensation for the factors burdening gold in the coming months,” it said in a note on Tuesday. “A pickup in demand would be the logical consequence now – particularly now that the trend of shifting demand from west to east should continue.” India’s lopsided trade balance will complicate gold imports and artificially lower demand despite the recent changes to import restrictions, Heraeus believes………………………………………..Full Article: Source

Investors go long gold, short copper in oil freefall

Posted on 14 January 2015 by VRS  |  Email |Print

Gold has extended gains to climb to its highest level since last October as investor demand for safe havens is on the rise as the price of oil continues its tail-spin.
New data on gold positioning shows investors are increasing their long positions, or bets that the yellow metal will increase in price, with gold net longs at peaks not seen since August last year according to UBS………………………………………..Full Article: Source

Gold glistens in commodities gloom

Posted on 13 January 2015 by VRS  |  Email |Print

Questions abound over just what is going on with gold. Concerns about deflation and slowing global growth do not necessarily augur well for the precious metal. Nor does a strengthening US dollar, which has an historic tendency to dent all commodities on the way up. Gold, however, is proving remarkably resilient.
It has maintained its grip on US$1,200 an ounce and, in euro terms, has just broken above resistance that built last year at €1,000 (HK$9,185). In the near term, gold now looks overstretched, but from a medium-term view, gold’s relative momentum within the commodity universe has become markedly more positive………………………………………..Full Article: Source

How to Track Gold Price Trends with the Kitco Gold Index

Posted on 13 January 2015 by VRS  |  Email |Print

While gold price trends mostly stem from changes in supply and demand, that’s not the full story. Sometimes the value of the U.S. dollar changes the gold price – and this can cause a misleading view of the true value of gold…
You see, most of us track gold priced in U.S. dollars. As the dollar gains strength, it takes fewer of them to buy the same quantity of gold. The opposite is true when the dollar weakens. Part of the reason gold prices move up or down is they reflect this change in U.S. dollar value. So higher gold prices do not always mean higher demand………………………………………..Full Article: Source

Gold price jumps to highest since October

Posted on 13 January 2015 by VRS  |  Email |Print

Gold on Monday continued to build on recent gains as sagging equity markets, a fresh slide in the price of oil and doubts about the strength of the US economy saw investors piling into safe haven assets.
In afternoon trade on the Comex division of the New York Mercantile Exchange gold for February delivery was changing hands for $1,235.60 an ounce, up $19.50 or 1.6% from Friday’s close. Gold is now trading at its highest since October 22 and has jumped more than 4% jump so far this year. Gold hit a near four-year low of $1,143 early November………………………………………..Full Article: Source

Gold, Silver more prone to risks in 2015: Barclays

Posted on 13 January 2015 by VRS  |  Email |Print

Gold and silver are prone to further downside risk in 2015 but lower PGM prices are likely to prove to be good buying opportunities, according to the latest report by Barclays.
The report says the macro environment is likely to be pivotal for the precious metals in 2015, in particular given the expectation that the dollar may strengthen and for the first rate hike in June. This dynamic is likely to present significant headwinds for gold that has potential to weigh upon the rest of the precious metal complex, the report said………………………………………..Full Article: Source

The beginning of the end for gold and industrial metals price falls?

Posted on 13 January 2015 by VRS  |  Email |Print

The title of this article could be taken two ways, but our meaning in using it – courtesy of London metals and mining commentator David Hargreaves’ Week in Mining newsletter, which used aspects of the famous Winston Churchill wartime quote in its title and conclusions this week – is that are we perhaps actually nearing the bottom of the prices downturn virtually across the board in resources?
As the newsletter points out – the Brent crude oil price has fallen through $50/bbl, iron ore is staring down the abyss, copper has a look of testing $6,000 per tonne on the downside, while gold has picked up to $1,200 plus etc………………………………………..Full Article: Source

Gold miners struggle to shine in investors’ eyes

Posted on 12 January 2015 by VRS  |  Email |Print

Gold miners are hoping that the four-year low in the precious metal’s price, recorded in November, marked the end of a torrid period for the industry – and that the outlook will be brighter in 2015.
But many investors in gold fear the miners are still placing too much faith in a cyclical recovery and not making structural changes to put the sector on a stronger footing………………………………………..Full Article: Source

Will The Gold To Silver Ratio Peak In 2015?

Posted on 12 January 2015 by VRS  |  Email |Print

Both gold and silver have been under selling pressure for a majority of the past few years. However, last year, silver prices were hit much harder than gold prices. In fact, gold was down just over one percent on the year while silver fell nearly 20 percent. This got me thinking about the gold to silver ratio (price per ounce of gold divided by price per ounce of silver).
Silver’s underperformance in 2014 is pretty glaring. And this acceleration has pushed the gold to silver ratio toward an extreme. Based on the chart below, it is likely that silver will begin to outperform gold at some point in 2015. This is due to the Relative Strength Index (RSI) of the ratio nearing a point where a reverse in trend has occurred in the past………………………………………..Full Article: Source

What’s In Store For Gold Price in 2015?

Posted on 12 January 2015 by VRS  |  Email |Print

The year started out strong and many gold bulls called the end of the downtrend. However a strengthening US Dollar, signs of economic growth in the US, and concerns over the Fed’s tapering program put an end to the bull market pretty early in the year when gold peaked in March at ~$1,370/oz.
These signs, among others (which I will discuss in a moment), prompted me to call for more downside in the gold market in September when the price was hovering around $1,300/oz. Shortly thereafter the gold price fell below its critical support level of ~$1,180/oz. and traded down to ~$1,135/oz. before rebounding back to today’s range, which is roughly $1,180 – $1,220/oz. ……………………………………….Full Article: Source

Gold price predictions: Will gold rise or fall in 2015?

Posted on 09 January 2015 by VRS  |  Email |Print

Leading fund manager claims that after its three-year slump gold has ‘bottomed out’ - but not many agree. Top fund manager Evy Hambro, who runs one of the most popular funds focused on gold and gold mining shares, is predicting the precious metal will recover from its three-year slump in 2015.
Since the summer of 2011 when it peaked at $1,900 the price of gold has fallen almost 40pc to trade today at around $1,200 (£800). Mr Hambro’s fund - the £1bn Blackrock Gold and General - has fared worse, losing investors more than half their money over the past three years………………………………………..Full Article: Source

HSBC raises 2015 gold price forecast on safe-haven cues, lowers PGMs

Posted on 09 January 2015 by VRS  |  Email |Print

HSBC has raised its average gold price forecast for 2015 should the growing strength of the dollar and geopolitical fears burnish its safe-haven qualities, it said. It now sees gold averaging $1,234 per ounce this year, up from its previous forecast of $1,175, it said in a note on Thursday. It also sees gold in a trading range of $1,120-1,305 in 2015.
The bank left its 2016 forecast unchanged at $1,275 and introduced a 2017 forecast of $1,275.“The possibility that the forex market is under-estimating the risk of destabilizing currency moves is an important element… gold prices may gain modestly in 2015, even in the face of a stronger US dollar,” it said………………………………………..Full Article: Source

Jim Rogers Gold Price 50% Correction Low During 2015

Posted on 09 January 2015 by VRS  |  Email |Print

Jim Rogers Gold outlook for 2015 according to a recent youtube video is for the gold price to halve from its all time high during 2015, which implies a drop from its April 2011 high of $1923 to $960 as the following extract illustrates -
“We have a lot of people who bought gold in the last 14 years. Gold has not had a proper correction for a long long time and in my view until there is a proper correction Gold cannot make a bottom and start over.” “Gold has not been down 50% in many years and that is not normal, most things go down 50% every 3 or 4 years, it’s just the way markets work.” “If Gold were to go down 50% that would be $960″………………………………………..Full Article: Source

Outlook: Gold price seen positive

Posted on 08 January 2015 by VRS  |  Email |Print

Gold price jumped more than 1 percent to a three-week high on Tuesday as investors continued to eye Greece’s future in the Euro zone and await upcoming Federal Reserve minutes for hints on the timing of an interest rate hike widely expected this year. Political uncertainty in Greece ahead of the country’s elections on Jan.25 has renewed fears of a possible Greek exit from the Euro zone.
Gold futures were likely to find support at $1,180 an ounce and resistance at $1,255. In upcoming days, we can expect COMEX Gold February Futures prices to trade on positive note on the back of concern over Greece’s future in the Euro zone. Technically If COMEX Gold breaks the level of $1223 then it can test the level of $1250 and $1280 on upside. If MCX Gold Feb futures sustains above the levels of 27500 on upside then upward movement can be seen till the levels of 27700 and 28000………………………………………..Full Article: Source

Gold is glittering once again

Posted on 08 January 2015 by VRS  |  Email |Print

With stocks, oil and the euro all plunging since the year began, the yellow metal is off to a hot start in the first few days of 2015. Although gold pulled back a bit Wednesday as the broader market rallied, prices are still up about 2.5% so far. Ditto for the popular SPDR Gold Shares ETF (GLD). And Newmont Mining (NEM) has surged 5%, making it one of the top performing stocks in the S&P 500 so far in 2015.
Why is gold glittering? And can it last? The gold rally is likely due to renewed fears about Europe, particularly what might happen if the Syriza party wins Greek elections on January 25………………………………………..Full Article: Source

Silver Price Off to a Strong Start in 2015

Posted on 08 January 2015 by VRS  |  Email |Print

It’s not even a week into the new year, but already silver appears to be trying to redeem itself for its less-than-stellar price action in December. Aside from a few slumps, including a brief foray to $15.56 per ounce on January 2, the white metal has been on the rise since 2015 began, peaking at $16.22 on Monday before continuing up higher on Tuesday.
As of 3:15 p.m. EST, silver was sitting at $16.53.Silver’s positive performance has come on the back of a strong US dollar — that’s unusual given that a strong dollar generally decreases investors’ desire for safe-haven assets like precious metals . Explaining how that happened, iNVEZZ.com states in a Monday article7 that “strong physical demand … offset pressure from US dollar strength.”……………………………………….Full Article: Source

Gold and Oil: Who’s going to bottom out soon?

Posted on 07 January 2015 by VRS  |  Email |Print

In recent days, I have encountered a few questions related to gold and whether it would be right time to invest. In November, we had expected an uptrend in gold in the beginning of New Year and now the break of $1200 resistance levels, analysts may be watching for the next breach at $1230, 1250 upto $1280 per ounce levels.
Time and again I have told that gold price in India is basically a function of global spot prices plus import duties and local taxes. Gold demand has been fairly inelastic in the country with higher prices only raising the urge to buy more so that they don’t end up buying at still higher prices………………………………………..Full Article: Source

Gold price in 2015: Playing Russian roulette

Posted on 07 January 2015 by VRS  |  Email |Print

What happened in 2014 -Gold ended the year not far below its opening levels, but symbolically at least it’s the first back-to-back decline since 1998. After a torrid 2013, gold 2014’s highs and lows were 20% or $237 apart, making it the quietest year since 2008. Managed money seemed to lose interest in trading gold.
Volumes on paper market were down except for a few flurries towards the end of the year and a couple of, let’s call it, interesting trading patterns. Gold’s much-admired safe haven status took a beating. Russia, Ukraine, Iraq, Syria failed to persuade investors that gold would protect them from geopolitical carnage………………………………………..Full Article: Source

Where will gold end 2015 – $1,000, $1,325 or maybe $2,500?

Posted on 07 January 2015 by VRS  |  Email |Print

Well there’s nothing like being optimistic at the start of a New Year and there are certainly many factors to be optimistic about if you are a gold bull. Gold demand remains strong – notably in China and India with those countries alone probably accounting for 100% or more of new mined gold at the moment.
At the end of this article we will make some not very scientific predictions on the final levels for the gold and silver prices at year end 2015 – perhaps to have these totally shot down in flames when the year end comes. It is always easy to be wise after the event. China (as per data from the Shanghai Gold Exchange withdrawals figures) is looking to perhaps see full year 2014 demand come to a little over the 2,100 tonne mark, thus only a fraction below last year’s record of 2,181 tonnes. So much for the almost incessant mainstream media reports throughout 2014 of a collapse in the Chinese gold market!……………………………………….Full Article: Source

If gold’s going to be a winner in 2015 then silver will be the real champion as financial markets implode

Posted on 07 January 2015 by VRS  |  Email |Print

Gold and silver prices have jumped since the start of 2015 as safe haven and dollar diversification plays. But this will be nothing compared to the upside gain to come as financial markets really lose it. Precious metal investors know from long experience that when gold prices go up silver does even better and vice-versa.
Silver is in a tighter market than gold and with a smaller available supply then a rise in demand has a disproportionate impact on its price. It’s also an alternative to gold as prices rise because it is cheaper. The gold-to-silver price ratio is historically very high at the moment at 75, so silver prices have plenty of room to outperform and close up this gap………………………………………..Full Article: Source

Silver price in 2015: Better the devil you know

Posted on 07 January 2015 by VRS  |  Email |Print

What happened in 2014 -Silver had everything going for it in 2014. Apart from receiving a shot in the arm from Indian gold import curbs and becoming real cheap versus the yellow metal, the silver price was supposed to be boosted by rising fabrication demand.
Chinese imports were surging as silver used in solar panels more than made up for decline in the photographic industry. And batteries were on everybody’s brains from Tesla gigafactories in the US to giant electricity storage programs in China………………………………………..Full Article: Source

Metals less precious in 2015

Posted on 07 January 2015 by VRS  |  Email |Print

Gold prices are set to remain low in 2015, as South Africa’s platinum miners continue to recover from the 2014 strike. Most metals face re-strained prospects due to the expected slowdown in growth in China, a major resource importer. The gold price plummeted 28% in 2013 and hit a four-year low to reach $1,171.10 per ounce on 31 October.
This was two days after the US Federal Reserve ended its five- year bond-buying programme. Gold had held appeal as an inflation hedge during that period. Decreasing demand from China, the world’s largest gold consumer, coupled with expected interest rate rises in 2015, also depressed prices. US-based Citi Research revised its gold forecast for 2015 to $1,225, down from $1,365………………………………………..Full Article: Source

Hedge Funds Resume Bullish Gold Bets as Greece Vote Looms

Posted on 06 January 2015 by VRS  |  Email |Print

Hedge funds are stepping back onto the gold bandwagon as political turmoil in Greece and government actions in Asia helped send prices to their biggest monthly advance since June.
Bullish wagers on the metal increased for the first time in three weeks and have more than doubled since mid-November, U.S. government data show. Short holdings dropped for the sixth week in seven. Bullion rose for a second straight month in December………………………………………..Full Article: Source

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