Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Almost 1% and 2% on the Week
By: Chris Mullen, Gold Seeker Report

COT Gold, Silver and US Dollar Index Report - July 20, 2018

The Deep State, Trump, and the World
By: Clive Maund

Gold Investment Wanes
By: Adam Hamilton, CPA

The Most Important Charts for Your Gold Stocks Right Now
By: Marin Katusa

The road to war: China’s kryptonite - Part 2
By: Richard (Rick) Mills

GoldSeek Radio Nugget: Bill Murphy and Chris Waltzek

NEVER BEFORE SEEN CHARTS: Gold Mining Industry’s Costs Are Higher Than Market Realizes
By: Steve St. Angelo

Powell Sinks Gold, Again
By: Arkadiusz Sieron

Weekly Digest – News, Market Updates and Videos You May Have Missed
By: GoldCore


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Friday, 10 January 2014 | Print  | Disqus

Gold Today –Yesterday the gold price in New York rose back to close at $1,228.40 after which Asia lifted it to $1,234. The dollar hardly moved at $1.36.12: €1 ahead of London’s opening. In London the gold price was Fixed at $1,232.25 up $6.25 on yesterday. In the euro it, Fixed at 906.533 up nearly €6.00. Ahead of the opening in New York gold stood at $1,233.40 and in the euro at €907.55. The dollar stood at $1.35905:  €1


Silver Today –The silver price was unchanged in New York at $19.59 but rose in Asian trade to $19.67 ahead of London’s opening. Ahead of New York’s opening, it was trading at $19.76.


Gold (very short-term)


Once again, we expect the gold price to consolidate today, in New York.


Silver (very short-term)


Once again, we expect the silver price to consolidate today, in New York.


Price Drivers

Yesterday saw no sales from the SPDR gold ETF or the Gold Trust gold ETF, whose holdings stand at 793.121 tonnes at 161.83 tonnes respectively. We expect to see a narrowing of the trading range in both the gold and silver prices today, after which we expect a stronger move either way.  Today, Friday, is a favorite day for sales from the SPDR gold ETF, so we wait to see what will come. If no sales do come, we would expect to see prices rise.


The Technical picture is showing both strong support below $1,220 and heavy overhead resistance up to $1,260. What is remarkable is that the current pattern has not formed the usual pennant formation which leads to a clear resolution of demand and supply. The pattern we now see shows no narrowing of trading ranges as it moves between $1,220 and $1,250. Investors need to ask themselves where do the fundamentals that lead directly to either buying or selling of physical gold point to. Citing news that does not cause either is irrelevant. It boils down to news that really does cause a buyer to buy, or a seller to sell. If there is none of that news around, then gold and silver prices will simply move sideways. But when that news does arrive we could see a clear direction given to gold and to silver prices for the longer term.


 [Find out more from and to subscribe to our newsletters and visit to hold gold so it can’t be seized]  


We do not believe that 2014 will be a quiet year for gold and silver. We see it being exciting and with fundamental influences coming to bear to change the shape of these markets entirely.


Silver – The silver price has changed its price pattern back to little movements on a daily basis followed by strong moves in quick bursts. Again we need to see that silver investors are very like gold investors, focussed on the monetary aspect of silver, not its role as an industrial metal. These investors control the silver price and are U.S. based.




Julian D.W. Phillips for the Gold & Silver Forecasters


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Friday, 10 January 2014 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2018 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of, its affiliates or advertisers. makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.