-- Posted Sunday, 26 December 2010 | | Source: GoldSeek.com
Ahead of the Christmas break both Asia and London are quiet with the gold price holding, but barely moving. The morning Fix in London is an eye opener, Fixing at $1,380.50 but in the euro at €1,062.61 €11 higher than yesterday’s Fix. This equals the peak level of gold in the euro. The tendency of the market is to strengthen not to fall as many believed it would. The fundamentals have not changed, with demand coming from the east in the main as the west focuses on other things.
When the holidays are finished and business is back to normal, we expect the gold price to show more vigor. Meanwhile, Happy Holidays from the Gold Forecaster! We look forward to a silver-lined, golden 2011!
Apart from covering the gold and silver markets Gold Forecaster and Silver Forecaster are structured in a way that gives perspective to macro-economic factors from oil to currencies covering the pertinent global gold markets that directly affect the gold price and some that simply influence it. It is a “must-read” for all who want to understand why the gold price is moving as it is and why. It also aims to help you understand why currencies and today’s national economic problems are influencing the global economy and the precious metal prices [we cover platinum in the Silver Forecaster too]. Subscribe at www.GoldForecaster.com or for silver at www.SilverForecaster.com].
Gold - Very Short-term
The gold price is strengthening in the falling euro and is attacking peak levels. We expect to see this continue on this pre-holiday quiet day in New York. Any downward pressure on the gold price should be met by foreign demand.
Silver – Very Short-term
The silver price is strengthening in the falling euro and is attacking peak levels. We expect to see this continue on this pre-holiday quiet day in New York. Any downward pressure on the silver price should be met by foreign demand.
Gold Price Drivers
As you wander off to hopefully a happy weekend of festivities we would like to encourage you with the thought that we expect a remarkable year for silver and gold. The fundamental picture is as solid as we have ever seen.
We believe that the gold market will continue to expand globally but the supply of gold will not do so.
In the next few issues of the Gold Forecaster and Silver Forecaster we will be looking at the path ahead for gold and silver. We will also publish reports on companies like Coeur d’Alene [silver and gold] and other attractive junior mining companies in the gold and silver worlds.
We have issued an article for Subscribers only on the implications of the termination of the I.M.F. gold sales and the impact on the gold market of this. We have also included the full article on “will a real economic recovery lead to a fall in the gold price”. We recommend that you subscribe or continue to subscribe to these newsletters to be ready for the gold and silver markets in 2011.
Regards,
Julian D.W. Phillips
-- Posted Sunday, 26 December 2010 | Digg This Article
| Source: GoldSeek.com
