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Gold On Verge Of Posting First Positive Year Since 2012

Gold is looking likely to finish the year positive for the first time since 2012, according to Frank Holmes writing in Forbes today.  The weaker US dollar, the probability of near-zero interest rates for the remainder of the year and a seasonal increase in demand is underpinning the positive momentum for gold.

 

Precious Metal Prices

Today’s Gold Prices: USD 1173.70, EUR 1032.87 and GBP 757.86 per ounce.
Yesterday’s Gold Prices: USD 1171.65 , EUR 1032.93 and GBP 757.86 per ounce.      
(LBMA AM
)

Gold closed down $5.00 yesterday, ending with a loss of 0.43% for the day.  Silver slipped to as low as $15.761 and ended with a loss of 1.12% closing at $15.83.  Euro gold fell to about €1033, platinum lost $6 to $1009.

Important News

Tough liquidity rules could push more banks out of gold – LBMA – Reuters
Gold struggles after 3-day losing streak as dollar stands tall – Reuters
Gold suffers from biggest one-day loss in more than two weeks – MarketWatch
China mounts gold liquidity grab as London market reforms – Reuters
Gold Drops Most This Month as Builder Gains Revive Rate Concern – Bloomberg

Important Analysis 

Gold On Verge Of Posting First Positive Year Since 2012 – Forbes
The Fundamental Flaw of ‘Mainstream Economics’ – Plata.com
Why we shouldn’t borrow money from the future – World Economic Forum
Gold Shows Strength as Debt Ceiling Showdown Approaches – Money Metals Exchange
Will Gold Finish 2015 with a Gain? – GoldSeek