-- Posted Monday, 17 December 2012 | | Disqus
Gold Today –New York closed at $1,694.20. While Asian and London dealers moved gold down in line with the euro at the start of the week. Gold Fixed at $1,690.00 down $6.50 on Friday’s a.m. fixing. In the euro it was Fixed at €1,285.269 down €15 while the euro was slightly stronger at €1: $1.3149. Ahead of New York’s opening, gold was $1,691.30 and in the euro at €1,285.43.
Silver Today – Silver closed higher at $32.17 in New York on Friday. It opened in London at the same level. Ahead of New York’s opening silver stood at $32.22.
Gold (very short-term)
Gold is expected to continue to consolidate with a weaker bias, in New York today.
Silver (very short-term)
Silver is expected to continue to consolidate with a weaker bias, in New York today.
Price Drivers
Gold & Silver – Two weeks to go before the U.S. falls off the ‘fiscal cliff’. Nerves are being tensioned now as politicians do what politicians do. “Don’t solve a problem, rescue your people from a crisis.” Cynical, no, dominant realities! [Subscribe to our newsletters at www.GoldForecaster.com and www.SilverForecaster.com] As the year draws to an end it is good to look forward to what lies ahead. While hope springs eternal, we are bound by the forces we see that are shaping tomorrow. What are they? A report recently released by the U.S. National Intelligence Council gave us sobering thoughts that are extremely positive for gold and silver. We will just touch on that report and highlight the four “megatrends” they mention:
1. The end of U.S. global dominance.
2. The rising power of individuals against states.
3. A rising middle class whose demands challenge governments.
4. A Gordian know of water, food and energy shortages.
The report stated that our future is “malleable”, which roughly translated means anything can happen! In addition to this are, “seven “tectonic shifts” which are combining to drive change at an accelerating rate. We have discussed this at length in the latest issue of our newsletters because these influences are going to affect every aspect of our lives, every one of us wherever we are on this earth.
If you now look at the performance of developed world governments in the last five and a half years to resolve problems, crises and to return the developed world to a vibrant growth path, you will see that they are woefully ill-equipped to faces these future challenges. Worse still, the present institutions responsible for the developed world’s monetary system have failed to re-structure it to cope with today’s challenges, so how will they cope with these future ones. Needless to say, the future is one where gold and silver will prove to be ‘safe-havens.’
Regards,
Julian D.W. Phillips for the Gold & Silver Forecasters
Global Gold Price (1 ounce) |
| Today | 3 days ago |
Franc | Sf1,552.61 | Sf1,566.39 |
US | $1,691.30 | $1,693.00 |
EU | 1,285.43 | €1,295.70 |
India | Rs.92,750.89 | Rs.92,490.15 |
-- Posted Monday, 17 December 2012 | Digg This Article
| Source: GoldSeek.com
