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

SSR Mining begins drilling at Eagle Plains (TSX-V: EPL) Fisher Gold Property
By: Nicholas LePan,

GoldSeek Radio Nugget: Peter Schiff and Chris Waltzek

Gold +1.8%, Silver +2.5% As Fed Increases Rates And Trade War Looms
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Gain Roughly 2% After Fed
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 21 2018
By: Ira Epstein

JPMorgan's Domination of COMEX Silver
By: Craig Hemke

Can Central Banks Manage the Deflation of an Everything Bubble?
By: Graham Summers

No, gold leased from central banks doesn't always have to be returned
By: Chris Powell

Why the World’s Central Banks hold Gold – In their Own Words
By: Ronan Manly

WATCH OUT BELOW: Dow Jones Index Next Stop… 19,000
By: Steve St. Angelo


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Monday, 13 January 2014 | Print  | Disqus

Gold Today –On Friday the gold price in New York rose to close at $1,247.10 with Asia lifting it to $1,251.55. The dollar weaker at $1.3673: €1 ahead of London’s opening. In London the gold price was Fixed at $1,246.00 up $13.75 on Friday. In the euro it, Fixed at 911.885 up nearly €5.30. Ahead of the opening in New York gold stood at $1,246.45 and in the euro at €912.08. The dollar stood at $1.3666:  €1


Silver Today –The silver price rose in New York 54 cents to $20.13 on Friday but rose in Asian trade to $20.19 before London’s opening. Ahead of New York’s opening, it was trading at $20.07.


Gold (very short-term)


The gold price should have a weaker bias today, in New York, but could surprise to the upside.


Silver (very short-term)


The silver price should have a weaker bias today, in New York, but could surprise to the upside.


Price Drivers

Friday 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. As we said last week, when there are no sales from these funds, now, the gold price tends to rise.


We are now at the top of the gold and silver trading ranges. If we see prices hit $1,260 the short-term will be very positive for precious metal prices. Certainly, at the moment, the pressure is upwards, but our daily forecast allows for more consolidation.


U.S. markets were surprised and disappointed by the jobs report on Friday. But the equity market is strong so the report did not hurt confidence but weakened the dollar half a cent. But we would be naïve to believe that gold rose because of that report. If a serious investor feared that the economy was turning down he would have bought gold. No sales and no purchases from the U.S. based gold ETFs does not imply a change in U.S. views on gold. It is more likely that U.S. selling of gold is nearing exhaustion and is close to complete. The next two weeks will either confirm or deny that. To us this is a key facet of the gold market now. [Find out more from and to subscribe to our newsletters and visit to hold gold so it can’t be seized]  Please bear in mind that the moves we are seeing in the gold market are not large enough to read anything major into them. We are still waiting for a clear direction to be given by both gold and silver.


Silver – The Silver Trust has seen sales of nearly 1,000 tonnes in the last month. We believe this was tied to U.S. investor’s fears of ‘tapering’. Now that we have seen the emphasis of the Fed shift to interest rates, we see these sales slowing or turning to the buy side, as silver investors continue to focus on the monetary aspect of silver by following the gold price. We see gold and silver prices continuing to move together as they have done for the last few years.




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Monday, 13 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 - 2017 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.