Friday

SPDR Gold Trust Could Soar On Debt Ceiling Concern This Week

The SPDR Gold Trust (GLD), gold and silver, and the relative ETFs should soar this week on the pending potential government shutdown and the looming debt ceiling debacle. While the possible government shutdown is more of a nuisance than an economic catalyst, the attention it will bring to the ineptitude of Washington D.C. will raise high concern about the looming debt ceiling deadline. The issue will rightly raise question about the full faith in credit in the United States, and in turn pressure interest rates, treasury securities and equities. Intensifying concern about the U.S. dollar will serve to surge gold and silver prices and the prices of the relative ETFs, especially the widely held and followed SPDR Gold Trust.

ETF Inflows/Outflows: GLD

Outflows

Turning today to week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, the largest outflow was seen in the SPDR Gold Shares (GLD), which shed 2.6 million shares, or a 0.9% decrease week over week.

SPDR Gold Trust: GLD To Remain in Demand Medium to Long Term


Rather than easing, expansionary monetary policies are actually accelerating worldwide. This is destroying the value of money; leaving GLD as the only dependable store of wealth in the long term.

Analysts in Commerzbank, Germany, see gold becoming stronger in the medium to long term as a result of extension of the ECB easing program. The same analysis report indicates that India is experiencing very high GLD demand levels.
Renowned gold analyst Julian Phillips, on Mineweb, said that many people throughout the world will run to buy gold in the long term for a number of fundamental reasons including the fact that is worth more money during bad economic times. He added that GLD is always liquid even in the bad times. It is also easily exchangeable throughout the world unlike other products.

In his analysis, Julian Phillips quotes Rand "Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values". 

He concludes that he who ignores history is doomed to repeat it.


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Live 24 hours gold chart [Kitco Inc.]

Tuesday

SPDR Gold Trust: Bullish Bets Rebound At Fastest Pace In Four Years' Commodities


For the first time in a period of four years, many investors are actually boosting wagers on the higher commodity prices. The bullish GLD wagers actually fell by 14% to 60,126 options and futures in the close of last week. On the other hand, those of SLV fell by 77% to 632 contracts.

Bank of America Merrill Lynch analyst, Michael Widmer, says that GLD will average at $1,670 at the end of this year. He added that it is because the business is in the recovery stage that many investors are shying away from increasing their bullion holdings.

At the Comex in New York, the GLD futures for the month of June rose of 0.3%. Later on, they closed at $1,600.90 at the end of last week. Meanwhile, the holdings for exchange traded products remained stable at $2,449.84 metric tons.

When the recovery stage paves way for the boom, you can be sure that Price of GLD will go past $1,800.


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Live 24 hours silver chart [ Kitco Inc. ]


Live 24 hours gold chart [Kitco Inc.]

Monday

SPDR Gold Trust: GLD Edging Closer To The Upside Breakout of $1,700


There are several factors which suggest that GLD has actually found a base between the price of $1,650 and $1,690. Of course it is slightly expected to move upwards and downwards till it finds stability towards the end of the year.

According to Nichol, the price will soon hit a high of $1,700. He also says that he has perceived a high bullish trend given the downward revisions to GLD Price forecasts that have been put forward by bankers, trading houses, dealers and other precious metal trade participants.

At the beginning of the year, many experts were predicting that GLD would hit a high of $2,000. However, this view has been partially paralyzed by the high rates of inflation registered in several countries. The regular take-down in the GLD Quote is a very sinister bearish trend that appears every time gold is about to take off.

Despite this lackluster trend, many GoldETF investors in the Middle East, Asia and some parts of South America are actively purchasing gold because of the looming inflation. However, the man in the street will soon go to the bank smiling at the end of the year when the GLD Price will hit $1,700.


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Live 24 hours gold chart [Kitco Inc.]

Tuesday

iShares Silver Trust: SLV Prices Will Remain Elevated With A Strong Demand From Investors


Many were surprised on Friday because the SLVquote closed at $28.77 per ounce. This is a decline of 0.34% from Thursday's price. Currently, silver is trading at $28.78. This price is marginally higher compared to Friday's closing price.
A closer analysis shows that the Priceof SLV may find support at $28.56 before moving to the next level of $28.35.

However, the first resistance will be found at $29.06. A persistent rise in this trend will see the next level of resistance of $29.35 attained easily. Currently, SLV is trading below its 50 hour and 20 hour averages.

Howard Marks, a legendary investor in precious metals, says that this is the best time to invest in silver. He notes that investment flows in this sector will help to offset the next 3 years' compound annual growth rate at 2.5%. This will see the SLV Quote close at $34 per ounce at the end of this year and increase to $35 in 2014.


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Live 24 hours silver chart [ Kitco Inc. ]


Live 24 hours gold chart [Kitco Inc.]

Sunday

SPDR Gold Trust: The Prices Of GLD And SLV To Hit A Stunning $3,620 And $125 Respectively


2013 has proven to be the most unpredictable year for the prices of precious metals. King World News has consolidated the details for the trend in prices of GLD and SLV since 2005 to arrive at the possible stalling price for these two precious metals.

A trajectory indicates that GLD will hit $3,620 an ounce sooner than later. This has been developed in a series of three charts; the first one was developed in a total of 71 weeks, the second one in a total of 77 weeks and the last one in a total of 91 weeks. The first 71 weeks indicated a high of $3,000, $2,880 in the second 77 weeks and finally $3,620 in the final 91 weeks.

On the other hand, the trajectory will see the Price of SLV increase by over 400%. This is highly supported through the trend developed by major asset fund managers given the mathematical pattern studied from 2008 to date. If SLV hits a high of $50 followed by an advance of 150% suggested by the trajectory then the price will hit a record $125.

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Live 24 hours silver chart [ Kitco Inc. ]


Live 24 hours gold chart [Kitco Inc.]

Friday

SPDR Gold Trust: GLD And SLV To Exhibit A Technically Bullish Trend


In the past few days, these metals experienced a high influx in prices. Asset fund managers cite this momentum to have been highly geared by a decrease in GLD ETF holding even as more investors now liquidate their investments.

A strong precious metal stock and better economic data are some of the potential reasons for the recent bullish trend. These efforts were pushed even higher by the stronger US Dollar index that rose to 82.35 from 78.91.

Currently, the Price of GLD remains within the range of $1570 and $1685. A crawl was realized shortly after the release of employment data by ADP Nonfarm. The trend may take a different direction as indicated by Central Banks when they send press releases.

Lately, the Price of SLV has hardly managed to climb above $29 per ounce. However, market action indicates that SLV is receiving more traction compared to GLD.

With the current hesitation, more risk-averse investors are likely to withhold their investment. This will definitely quell a high price in GLD and SLV before the end of the year.


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Live 24 hours gold chart [Kitco Inc.]
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Live 24 hours silver chart [ Kitco Inc. ]

SPDR Gold Trust: GLD Futures Prices To Advance Past The Top Notch Of 2012


Last year, the gold futures that were effect for delivery in February closed at $1,676.50. This was a gain of 1.2% or $19.90. Of course this meant a weak ending to a strong precious metal year which was highly unexpected. This was highly influenced by the November General Elections.

Looking at the trend of GLD since the beginning of the year, there has been a lot of price instability. This has been highly attributed to the withdrawal of stocks at NYSE—a characteristic of the weakening dollar. As more central banks throughout the world continue in the habit of purchasing gold then the Price of GLD will persistently rise.

This means that those with gold futures contracts right now stand to gain. An improvement investment climate has begun to show and most asset fund managers can advise you that the best investment right now is gold. With a projection of the GLD Quote indicating that it would close at $1,900 this year, investors in GLD future will make up to 20% gains.


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Live 24 hours gold chart [Kitco Inc.]

SPDR Gold Trust: GLD Futures Prices To Advance Past The Top Notch Of 2012


It is two months down the line since commencement of the year and investors for the year are already smiling to the bank. This is heavily attributed to the rising Price of SLV.

Only in January, the demand for silver hit 7.5 million ounces. It was evidenced by the US Mint which suspended the sale of 1 ounce bullion coins from American Eagle because they were out of stock within the first two years alone.

As the American Congress debated the debt ceiling and fiscal cliff of the US economy, silver bullions also closed at considerably strong prices on the other end. This came during and shortly after November—the General Elections month which historically records high sales and rising prices of silver.

Even as anxiety about the SLV Quote looms, Rogers, the owner of a very rare 2013 silver coin, says that this is happening because people are so worried about the future. However, he adds that those who are positive about the trend of precious metals immediately after the general election expect huge gains this year.


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Live 24 hours silver chart [ Kitco Inc. ]

iShares SLV Trust: The Upside Potential Of Silver Is An Indicator Of An Unprecedented Increase In The Price Of SLV

Silver has roughly been operating around $30 per ounce. Using the US CPI Index, asset fund managers have predicted that the price of silver will hit more than $36 given the high of $36 recorded in 1980.

Owing to the growing investor appetite and industrial demand for precious metals, HSBC predicted that the Price ofSLV would rise from $32 to $33 an ounce this year.

However, a survey from some stocks in the market suggests a high mean target price as a result of the solid dividend they are paying. Hecla Mining Company reported an annual dividend yield of 1.83% and a payout ratio of 54.5%.

A report from Silvercorp Metals Inc. indicates that the dividend yield is expected to be 2.46% and a payout ratio of 38.5%.
Owing to the dwindling price of the dollar and poor returns from other industries, the only option for investors is precious metals. With this coming after the US election, it is expected that the Priceof SLV will rally upwards to $50 by 2014.


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Live 24 hours silver chart [ Kitco Inc. ]

Thursday

SPDR Gold Trust: The Bullish Trend Of GLD Is Back At A Price Of Over $1,825


Many investors were totally disillusioned last week when gold took a bearish trend and hit lows of $1,615 an ounce. According to some asset fund managers, the fact that the Price of GLD which was forecasted at $1,825 an ounce fell to below $1,615 within six months means that it would get it even lower to $1,550.

However, the Goldman is wrong in this one. The fact remains that despite this pullback in the GLD Quote, gold prices have begun to consolidate at a relatively higher level than previously. This pattern is largely bullish; indicated from the technical pattern that the Price of GLD is forming. This pattern is referred to as the symmetrical triangle.

The last time we saw this pattern in the precious metal market was in 2008/2009. Immediately after that pattern, a series of multi-climbs in the price of gold was seen. The prices of precious metals; particularly gold then almost doubled their price. As such, I tend to think that we are just at the beginning of that cycle and the GLD ETF is headed for a kill.


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Live 24 hours gold chart [Kitco Inc.]

iShares SLV Trust: The Backwardation, Correction And Shifts In Perception In The Price Of SLV


Since 2008, silver future contracts have flirted in prices with a great sign of backwardation. This normally occurs when the current month's SLV future contracts tend to command a higher price premium as compared to the futures contracts of the subsequent months.

The corrections in the Price ofSLV expressed a downward trend. And it appears as though SLV is being pushed by a cliff towards the concentrated shorts so that the perception of retail investors can be heavily influenced.

More surprisingly, the downward move in the Priceof SLV does not really seem to convincingly depict a reality in these corrections. This is highly attributed to the fact that the SLV Quote has never been too high. Mutual fund experts say that this price seemed too high to manage the shorts; hence it had to be muscled to a lower one.

However, with the decreasing value of the dollar, the backwardation in ETF SLV will take a U-turn because the investors will tend seek alternative investments which are not directly affected by the dollar—precious metals.


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Live 24 hours silver chart [ Kitco Inc. ]

Monday

SPDR GLD Trust: All The Reasons For Optimism In The Price Of GLD As Revealed By Fund Managers


Many investors have been partially startled by the volatility in the prices of GLD and SLV in 2013. However, this is always expected, especially after a US Presidential Election and the current low valuations for the gold miners.

One of the solid reasons for optimism quoted by all the five fund managers is the appealing performance of precious metals a few months after general elections. The fund managers also say that the devaluation of the US dollar as a result of purchase of assets by the Federal Reserve and failure of the Congress to agree on an expenditure cut will boost the Price of GLD.

For the better part of this year, the asset fund managers tend to favor investment in the GLD stocks over bullions. This is attributed to the huge discounts offered despite the rising inflation. This means that the GLDQuote will hit more than $1,700 an ounce.

Gold ETFs have always predicted that gold will hit more than $2,000 per ounce. However, this year it will likely hit $2,000 but not sustain the price to 2014.


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Live 24 hours gold chart [Kitco Inc.]

Friday

SPDR Gold Trust: GLD And SLV Gain With The Dollar As Oil And Stocks Fall


The Price of GLD increased to $1,584.70 by midday yesterday before falling slightly. However, it closed with a gain of 0.79%. At the same time, the Price of SLV gained by 0.53% to close at $28.88. Overall, both gold and silver quotes rose by slightly over 2% by midday. 

However, a fall in prices in the afternoon led to a decrease in this gain to around 1.5%.
Oil prices remained lower with crude gasoline inventories rising to 4.1 million barrels, distillates fell to about 2.3 million barrels while gasoline stocks fell to 2.9 million barrels.

The current fluctuation in the Gold Quote and the Silver Quote is caused by the efficiency in precious metal mining as a result of using advanced technology. Fluctuation in currencies and the massive purchase of GLD and SLV by central banks throughout the world is likely to see these prices rise significantly. That's why many experts predict that these prices will hit $1,900 at the end of the year!


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Live 24 hours gold chart [Kitco Inc.]


 Live 24 hours silver chart [ Kitco Inc. ]

GLD Bullion: What Will Make the Prices Of GLD To Hit $1,900


Many seem to find it ridiculous that GLD will hit $1,900! Well, there are several reasons why the price of gold will move from the current range of $1,580 and thereabout to $1,900 an ounce by the end of the year.

One of the potential reasons why GLD will rise tremendously is the weak dollar and the crunch of the global economy. This means that investors in the economy are now trying to put their funds in a good place (GLD) other than the dwindling economy.

A survey indicates that hedge funds especially from Europe and America are investing heavily in GLD. Being the experts; they say that as the bank rates decline sharply, the alternative investment for the large investment groups is in precious metals.


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Live 24 hours gold chart [Kitco Inc.]

SPDR Gold Trust ETF: GLD Is Still A Great Long Term Investment


A top precious metal analyst with SPDR Gold Trust says that despite the current price of gold, it is still going to thrive at its best in ages. As the US Federal Reserve and many other central banks worldwide start to wind down quantitative easing, as interest rates return to their normal levels and inflation goes down; GLD will hit new highs. This makes it a potential long-term investment with a great yield.

Markets are expecting the long term interest rates to rise when the Federal Reserve stops purchasing treasury bonds (the quantitative easing program) and the unemployment rate falls below 6.5%. This will lead to an increase in the interest rates to the level where they should have been when the Federal Reserve had not done anything.

Other experts are also arguing that what the current GLD Prices are reflecting could be suggesting that there would be no inflation in the next 3 decades. A bullish trend in gold which started to show since late last week could see the GLD Quote hit $1,900 from the current $1,670 an ounce range.


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Live 24 hours gold chart [Kitco Inc.]

Wednesday

iShares Silver Trust: SLV Prices to Increase by 400% In Three Years


Precious metal investors and analysts predict that the value of SLV will increase fourfold within three years.
A renowned asset fund manager for iShares SLV Trust says that the price of silver will hike from $32 to $165 an ounce because of the sustained bullish market. This historic achievement of the SLV Quote will be achieved before the start of 2016.

The forecast has been established from a careful cyclical and technical analysis established from the dramatic bullish run of SLV from $8 in 2008 to $32 an ounce in 2011. On such a well-established mathematical presentation, there is no doubt that the price of silver should have hit $50 by the end of this year.

Even though SLV has proved to be more volatile than gold, it is expected that this bullish trend will definitely make it to outperform GLD. Good economic policies and the reelection of President Obama will definitely play a crucial role in the upward trend of the ETFsilver quote.

Improvement in efficiency and reduction in the cost of mining from precious metal miners will also contribute to this dramatic fourfold increase in the Price of Silver.


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Live 24 hours silver chart [ Kitco Inc. ]

GLD Bullion: The GLD And SLV Price Decline Is Not Over


An expert says that those who thought that GLD and SLV prices will stop declining soon are in for a rude shock. This will especially appear as cavalier to precious metal buyers of futures in comparison to "on the spot" buyers.

Since buyers of GLD and SLV and other precious metals have taken buying as an opportunity to create more wealth, a norm which has led to a massive growth in the intrinsic value of precious metals.

Many would have been glad to purchase GLD if the prices stretched to highs of $3,000 or SLV if the price stretched to a high of $100. Of course it is not appealing when compared to price of $1,800 for gold. Looking at the situation from a bird's viewpoint, a bullish trend for the precious metals is imminent. However, the bullish flavor in silver is not too strong.

The major reason cited for the decline in the gold quote and the silver quote is the uncontrolled spending of many governments. If this trend continues, the prices of GLD and SLV will not only continue to fall but also lead to serious economic impacts to various governments.


Click here for more information about GLD Prices!
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Live 24 hours silver chart [ Kitco Inc. ]


Live 24 hours gold chart [Kitco Inc.]

Tuesday

SPDR GLD Trust: Central Bank Bullion Buying ETF GLD In A Record High Quantity In 48 Years


The World Gold Council reported that central banks have added the highest amount of gold reserves for close to half a century over the past one year.

From October to December last year, central banks managed to purchase 534.6 tons, an increase of 17% compared to 2011.

Central banks including Brazil, South Africa, India, Russia, China and others are continuously adding gold to their reserves at alarming rates. And this is happening when several investors are holding the highest amounts of money through exchange traded products backed by gold. The GLD Price bullion gained in the 12th straight year since 2001, averaging to $1,669 per ounce.

Marcus Grubb, Managing Director of Research at the World Gold Council said that this trend of purchasing gold, highly fuelled by developing countries, will get even stronger. And the rising Priceof Gold has resulted from these countries' desire to diversify and avoid over relying on particular currencies such as the euro and the dollar.


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Live 24 hours gold chart [Kitco Inc.]

Monday

iShares Silver Trust: Weaker SLV Prices And Related Forecast Changes


After a three day losing streak earlier this week, SLV closed the week in style recording a gain of $0.17. The Priceof SLV was $31.12 at the beginning of the week but the huge losses recorded on Wednesday saw the price drop by $0.34 to $30.78. Hence, silver managed to keep its head beyond $31 an ounce.

Part of the weakness in the SLV market was expected because of the Lunar New Year Holiday whose festivities stretched a week long. But investors and expert analysts can’t agree on the aftermath in the SLV Quote because of this weekend’s G20 meeting. A currency war in the countries involved is expected after this meeting.

Experts from iShares SLV Trust said that both gold and silver tend to remain in a partially safe haven bias of liquidation, thus it would take revitalized Eurozone turmoil and softly scheduled data or unimaginable declines in equities to give the investors a fresh trading interest.

Funnily enough, as the prices of both GLD and SLV weaken, most bullish investors still insist that both metals will hit highs of $50 and $1,900 respectively.


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 Live 24 hours silver chart [ Kitco Inc. ]

Sunday

SPDR Gold Trust: GLD ETF Volatility Heads The Mean To $1,900 According To Technical Analysis


Even though it would take close to one and a half years, the GLD Price volatility will see to it that the precious metal hits $1,900 an ounce. Since July last year, the gold futures slated for April delivery have been trading in a range of $200 in New York.

A chief investment officer with SPDR GLD Trust says that the contracting triangle pattern indicating highs and lows is a pointer to the fact that precious metals will rebound in the market with revitalized trading energy.

When a volatility squeeze leads to a breakout then then there will be a big move in the Price of GLD towards the breakout. And this pattern means that the breakout is inevitably imminent.

The April futures shot a high of $1,801 in more than 7 months in early October after reaching a low of $1,596. But early this week, the GLD Price closed at $1,676 for futures in New York. And experts predict that these prices would rise to a high of 13% to land at $1,900 in August this year.

According to Parton, the most attractive GLD futures surged to the all-time high of $1,923 in September last year.


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Live 24 hours gold chart [Kitco Inc.]

Friday

iShares Silver Trust: SLV Prices To Weaken In The Potential Bull Trap


This does not come as good news to many investors as the CPM Group releases a report which looks on to 2022. The report suggests that silver investors run the risk of being caught up in the bull trap. SLV Prices hit $49 per ounce in April 2011 but this has declined to the trading range of $26 to $36 since September last year.

Silver, as many participants insist, has not performed as it was expected. The strong and increasing price which has been expected during all times of heightened economic risk hasn’t materialized. However, some experts still insist that on the contrary, SLV Prices will increase tremendously. But the report insists that the advancement in the instruments used by the miners in extracting SLV of late mean that the capacity of silver mining in the next 10 years will substantially increase.

The report has strongly warned that investors could be caught in a bull trap. In the beginning of January, the Priceof SLV was always below $30 but this price has significantly increased now. This has reignited a bullish sentiment among some investors. Investors are also demanding silver delivery through banks, future contracts and ETFs. This phenomenon will definitely push SLVPrices higher.


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Live New York Silver Chart [ Kitco Inc. ]

SPDR Gold Trust: ETF GLD Prices To Hit $1,847 This Year


Experts from GFMS say that GLD Prices will follow an upward trend owing to the US government’s money printing program; quantitative easing, which will propel the prices unstoppably. Compared to last year, this year’s gains have been projected to increase by 35 tons or 1.25%.

Further reports claim that the backtracks experienced in the price of gold in 2012 was an aberration. It was largely contributed to by the loose monetary policy of the US and central bank which aggravated by their continued interest in purchasing GLD.

There are high chances, according to these reports, that this year will be a huge turnaround in gold prices with an average of 6% rise anticipated. Earlier on this month, Gold Investing News revealed that gold bulls could be mightily disappointed given the predictions by particular banks. It is predicted that overall, the average price of gold would be $1,700. 

On the other hand, HSBC predicts a low of $1,666. Such bearish predictions strongly contrast with bullish firms such as Stanley Morgan which predicts an average of $1,853 while Commerzbank predicts $1,950.

Traders stepped in to make bargains yesterday as the Price of GLD hit the highest bar this year; $1,687.40 an ounce. This is an increase of $7.40 compared to Wednesday’s close.


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 Live 24 hours gold chart [Kitco Inc.]

iShares Silver Trust: SLV Prices Could Remain Bullish Given The Increased Industrial Demand


Since the beginning of the year, SLV has been doing very well in comparison to gold. The prices of silver have risen by over 2.5% in the past one week. This has led to many precious metal traders predicting that SLV Prices are expected to remain extremely bullish in the coming days given the industrial demand which is steadily firming up.

Experts are optimistic that before the year ends, bullish trend of silver will lead to a high of $6,949. This bullish trend will be highly supported by the fact that more than 66% of the silver produced in the world is used for industrial purposes. At the London Metal Exchange, the price of SLV hit $31.29 an ounce, indicating an increase of 0.9%. Since December, spot prices have remained relatively stable between $29.20 and $31.49. Analysts and traders have attributed this kind of volatility to the negligible demand experienced in the market.

An analyst at Geojit Comtrade said that silverprices are not volatile but there is actually no clear direction to where the prices are moving. It is now clear that the equity market is growing steadily and very few investors have turned up to the global equity. But what are long term investors anticipating?

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Live 24 hours silver chart [ Kitco Inc. ]

Thursday

SPDR Gold Trust: Analysts Divided On The Outlook As Gold Prices Decline Further


Precious metals are deemed weak as the price of gold declined further earlier today. The price fell by 1.3%, equivalent to $22.03. This saw gold sell at $1,664.27 per ounce very early in the morning. Despite a lack of strength in the price of the US dollar, gold subsequently found itself wobbling back $1,672.

On the other hand, SLV totally underperformed GLD as it tumbled by 2.1% or $0.68 in the morning at a very low of $31.62. However, like gold and other sister precious metals, it also regained towards the close of the day to trade at $3,190. As the price of gold advanced slowly in each of the past two weeks, the decline recorded earlier today was brought about by yellow metals towards the midpoint of the whole trading range. However, the gold price still remains slightly over 13% below the all-time high record of $1,923 per ounce.

Contrastingly, analysts at Morgan Stanley actually offered a more constructive and positive view on the gold prices. And even though the firm lowered its earlier 2013 gold price average forecast by 4% to $1,773, the earlier longer term bullish outlook was reiterated.




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Click here for more information about SLV Prices           



Wednesday

iShares Silver Trust: SLV Bulls’ Struggles Continue


Early this week, the losses of SLV pulled the price to below $31, closing at $30.84. This has led to silver struggling to make significant gains in its price. Economic conditions have been stabilizing of late and this has been accompanies by the risk appetite of investor. This has created a desire for liquidation in silver trading.

Since August 15, 1997, reports from CME Group indicated that the stocks of silver with COMEX hit the highest levels. A statement from the firm said that this development will grab the attention of many bears. In addition to that development, this liquidation bug seems that to spread the ETF market will delight all the precious metal bears.

The price of silver experienced an upward push; allowing this precious metal to hit $31.38. Silver had further support yesterday when the GDP of the US declined for the very first time in more than three years. This saw the Price of SLV fuelling up to close at $32.02, recording straight gains of $0.64.

Scotiabank said that the price of silver was just below the usual trend line of $32.23. The statement added that the bank looks forward to change the general outlook of that bullish trend.


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Most Recent Silver Quotes

Tuesday

SPDR Gold Trust: Counterintuitive Behavior of GLD & SLV Prices To Continue


Lately, the price of gold and silver has been trading in an undisputedly counterintuitive manner. After the Federal Announcement on December 13, 2012, gold prices turned bullish. At that moment, GLD was trading above $1,700 an ounce but the price of gold has since fallen below that. Late in January this year, the price tried to break above $1,700 but to no avail.

Confirming this counterintuitive pattern of precious metals prices, Grant Williams said that this behavior was heavily influenced by government involvement. The more the level of government involvement; the more the counterintuitive behavior. In normally-functioning markets, there is usually minimal government interference. Since the government is the biggest participant in the bond market means that the natural market forces are actually being corrupted.

GLD and SLV form very thin markets. Hence, it does not require a lot of effort and financial resources to control the direction of these precious metals. However, their prices can be a double-edged sword. Gold and silver markets can easily reach a tipping point beyond which market forces easily overwhelm intervention of any kind. At the moment, the allocation of portfolios for both precious metals is 0.5%.


Price of GLD: For more information Click Here!
Price of SLV: For more information Click Here!

Chart indicating the price of silver!

Chart indicating the price of gold!


Friday

SPDR Gold Trust: Gold The Gains and Declines Of Gold



GLD bulls have been seriously tortured by the drip-drip-drip behavior of gold since the beginning of the year. And after dropping for the fourth consecutive month, the price of gold has killed the expectations of some. However, some view this as an opportunity for more jobs to be created especially in the US.

According to Joni Teves, the current fluctuation in prices will not help any GLD expert to come with a clear view of what will happen next. But the market must still wait for a more convincing catalyst to determine the next direction of gold.

By midday today, the Price of GLD rose by 0.1% to $1,665.90 an ounce. Since the beginning of the week, the prices have fluctuated up to 0.4%. Experts say that if this trend continues then there will be a higher level of employment in many countries. However, this may not hold in the long run.




GLD Prices: For more information, click here!

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iShares Silver Trust: Silver Jumps to Near Three-month High


iSilver reports that SLV futures have dramatically jumped to higher levels that have not been achieved since November 6.
A financial report from the US government indicates that the economy had unexpectedly shrunk in the third quarter of last year. This grossly boosted the demand for precious metals. That’s when the Price of SLV started rocketing.

Since the beginning of the year, the price of silver has remained above $31, closing in up to $31.32. The major reason for this improvement has been the string of consistent daily gains accruing from reducing mining costs.

And does that mean that SLV is now not subjected to any market conditions? Well, precious metal experts from SLV ETF say that despite the declining business conditions, the price of silver surged upwards; an indication it has been independent of market conditions since the beginning of this year. It recorded a gain of $0.29 today compared to Monday’s price at $31.03.

While other precious metals in the universe are suffering sharp declines for some weeks now, SLV seems to be enjoying with Reuters suggesting that by the end of today, it would have surpassed the all-time high of 6.1million ounces in trade.


Price of SLV: For more information click here!

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Thursday

GLD Equity: Bullion Correlation Strengthening



Marc Elliot of Investec Securities reports that 2013 will be another sideways for all gild equities. Elliot says that as GLD Prices move above $1,600 per ounce, a lot of correlation has appeared among the gold equities.

He says that usually when gold prices fall below $1,600 then there is an excessive margin squeeze on many producers. And these margins don’t open to reflect the movements in gold prices directly.

Currently, the price of gold is mercilessly dwindling because mining companies have not controlled their prices. If they demonstrate their dedication to lowering the mining costs without missing to plan on how not to miss their targets then a positive correlation in the price trend will be realized. Hence, gold companies will fare well if at all the gold prices continued to rise.

You may not believe it but he proposes that gold prices will rise to $1,800 this year because of the investors’ optimism. However, volatility is anticipated because the prices of gold have lately been affected by the dollar.

Instability of gold prices due to dollar fluctuation has been largely contributed to by larger risks facing companies such as inflation, under-delivery, political risk and cost in a market which is risk averse. This has made operational gearing very difficult!


GLD Prices: For more information please clickhere!



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Wednesday

Large SLV Deposit on January 16th (2013). Did JPM close a short position?

An interesting piece of analysis here from about.ag suggesting that JP Morgan may have closed a significant short position in SLV without affecting the SLV price:

Why Was 18.3Moz Deposited?

The obvious answer is "JPM opened a new warehouse!".

However, that does not answer the question, as only 10Moz went into their new warehouse.

The experts seem to agree that one of the most plausible explanations is that JPM closed out their short position in SLV. One or more people have 17,016,600 shares of SLV short (about 16,458,115oz) at last count (which could be a couple weeks old). It is believed that JPM is likely responsible for much or all of that short position. The unexplained addition of 17,410,210.4oz to SLV (remember, 967,881.6oz are considered a 'normal deposit') would cover the entire short position and then some. Or if another 967,881.6oz (1M shares) were a normal deposit, that would leave 16,442,329.4oz unaccounted for, almost exactly matching the short position.

Another possibility is that someone wanted to purchase about $500M of silver, using SLV, with minimal change to the price of silver. Since it would be cheaper to store $500M of silver directly in warehouses (rather than via SLV), such a buyer would likely be a mutual fund (or similar) that is allowed to invest in ETFs, but not in silver directly. However, this theory seems less plausible given that the silver was all deposited on the day that the new JPM SLV warehouse was introduced.

Is the Selloff in Gold and Silver Overblown?


As the New Year progresses, many are worried about the position of GLD and SLV in the market. The euphoria of investment in precious metals has turned from the ever-blazing blissful glee to a cloud of worry in some markets.

Today the Gold Volatility Index hit 5.83%, reports SPDR GLD News. Gold has declined by 7.5$ for the last three months while silver has gone down by double that. What does the market hold for the precious metals?

Even though gold has shown signs of technical weakness, predictions from expert traders indicate that a steady rise is coming especially for silver. By the before the end of 2012 Fed Easing predicts that the price of gold will hit a record $2,000 an ounce.

As of now, GLD is at $1670.05 and it has hit the trend line; an indication that is a good selling signal for traders. On the other hand, SLV is a432.36 and predictions from experts in the precious metal market in China indicate that it will hit $50 before the end of this year.

When their performance is analyzed against the performance of other assets in the market, the performance index of GLD and SLV is still better compared to others—reports AGG News!

Clickhere for more information SLV Prices!
Click here for more information GLD Prices!


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