Daily Market Update

GoldCore Precious Metals Update

Very strong resistance at $966/oz proved too tough for gold yesterday as the markets allowed doubts that the recent surge in the price could not be sustained creep in. Gold slipped some 1% to $935/oz, not helped by a rally in the dollar that saw gold fall slightly. Technically, the momentum over the short term seems to indicate that the price will fall further and strong support at $905/oz, could be significant. A myriad of problems still plague the dollar and this rally should be short lived and a gold price of over $1000/oz before the year-end seems increasingly likely. Continuing risk aversion will see gold well supported close to these levels. South African gold mine producers agreed on pay increases of between 9-10% with mine workers yesterday, concluding negotiations and hopefully settling recent tensions between management and staff.

Silver was also unable to keep hold of its recent gains and dropped below $14/oz and is currently trading at $13.58/oz.

Platinum group metals
Platinum and palladium also dropped off in price yesterday but with the end of the month approaching, demand for rhodium from refiners saw the metal gain in price, trading at $1625/$1725/oz.

Mark OByrne


Gold’s Time Is Nigh

Gold and Silver Bullion - News and Commentary Gold little changed amid firm dollar (Reuters.com) Bitcoin Futures Trading Brings Crypto Into Mainstream (Reuters.com) Bitcoin exchange warns customers of system collapse if prices crash (CityAM.com) Investors Told to Brace for Steepest Rate[...]


98,750,067,000,000 Reasons to Be Worried About 2018

Gold and Silver Bullion - News and Commentary Gold inches up from near five-month low ahead of Fed meeting (Reuters.com) Gold slightly higher ahead of Fed meeting (Reuters.com) Asia shares take breather, Brent oil breaks above $65 (Reuters.com) Asia Stocks Mixed[...]


Gold and Silver Bullion – News and Prices

Gold and Silver Bullion - News and Commentary Asian Stocks Fall as Miners Decline; Yen Gains (Bloomberg.com) Gold prices ease despite slightly weaker dollar (Reuters.com) Bitcoin Hits New All-Time High Above $12,250 (GoldSeek.com) Don’t Expect Gold to Go Wild Next Year[...]