Market News Update

Gold was consolidating around $1,250 on Friday morning in London after what has been a volatile week for the precious metal while silver and the PGMs continue to grind higher.

Strong indications that Gold is at the bottom of the cycle... 

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Click HERE for the latest Precious Metals Report

Gold shaping to benefit from QE uncertainty... 

Gold prices had been holding tight on the expectation of 'tapering' of the US Federal Reserve's Quantative Easing (QE) or money printing policy.

However on Wednesday the Fed announced that it would continue to buy US$85B a month in bonds, rather than lower the figure which is what everyone expected. Gold prices immediately shot up for a couple of days before coming off and starting the week lower, probably on the back of some end-of-week profit taking.

Australia's leading Economists predictions for 2013 and beyond!

Chief Economists from NAB, CBA, ANZ, AMP, TD Securities and Standard & Poors met over breakfast in Sydney yesterday.... Some interesting views on the state of the global and Australian economies!

Key Predictions:

Gold continues to strengthen but Silver the big mover!

Gold has continued to strengthen now for 8 consecutive weeks. From a low of US$1,192 at the end of June Gold has increased by over 18% during this time while Silver at a low of US$18.86 has increased by over 28%.

A Gold Chart that tells an important story!

Found a very interesting article via one of our Partner websites;
www.kitco.com, that appeared over the weekend that I thought you might find
useful.

Of recent months we have seen considerable volatility around
the Gold & Silver prices but most of the talk has been about the
'Non-Physical' markets or Paper tradeable markets. But remember at the end of
the day the longer term perspective and prices will be all determined by
physical demand and supply........ an interesting read!

The Bears have gone quiet. Gold looking strong for the first time in 3 months.

Gold has remained strong now for 4 consecutive weeks. The break-through of US$1,300 is significant especially when we add to this 3 key indicators:

Gold & Silver not the only losers today!

From an all time high of US$1,925 in September 2011 to a low of US$1,325 in April 2013, Gold has since range traded and has tested US$1,400 3 times in the last week.

While in the short term we may see continued volatility between US$1,375 and US$1,415 the longer it stays in this range the more sure we can be that we have seen the bottom of a long term correction and that the price of physical Gold and Silver will rise.

The following details the closing prices in the last 5 weeks:

Gold's short term volatility and range trading may indicate the bottom of a long term correction.

From an all time high of US$1,925 in September 2011 to a low of US$1,325 in April 2013, Gold has since range traded and has tested US$1,400 3 times in the last week.

While in the short term we may see continued volatility between US$1,375 and US$1,415 the longer it stays in this range the more sure we can be that we have seen the bottom of a long term correction and that the price of physical Gold and Silver will rise.