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 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

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

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

Additional Signs for PMs Amid Increasing FOMC Tension
By: Przemyslaw Radomski, CFA

Credit Concerns In U.S. Growing As LIBOR OIS Surges to 2009 High
By: GoldCore


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Wednesday, 15 January 2014 | Print  | Disqus

Gold Today –On Tuesday the gold price in New York fell to close at $1,243.40 with Asia taking it $3 lower. The dollar is slightly stronger at $1.3639: €1 ahead of London’s opening. In London the gold price was Fixed at $1,238.00 down $10.75 on yesterday. In the euro it, Fixed at 908.557 down €4.54. Ahead of the opening in New York gold stood at $1,238.15 and in the euro at €909.07. The dollar stood at $1.3622:  €1


Silver Today –The silver price slipped slightly to $20.19 down 26 cents in New York yesterday and again in Asian trade to $20.15 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 neutral to slightly weaker bias today, in New York.


Silver (very short-term)


The silver price should have a neutral to slightly weaker bias today, in New York.


Price Drivers

Yesterday saw sales from the SPDR gold ETF of 3.565 tonnes but the Gold Trust gold ETF saw no sales leaving their respective holdings at 789.556 and 161.83 tonnes respectively. This demonstrates the point we made yesterday on the influence of the SPDR gold ETF on the gold price. Clearly, more work needs to be done on breaking down overhead resistance. That fight still continues because the gold price has not fallen back far as it would have done had support been weaker.  As we said yesterday too, if it breaks above $1,260 - $1,270 then we expect the bulk of resistance to have fallen, a very positive signal for the gold price. Again we are watching the SPDR gold ETF closely.


An important point gold investors should consider is the perception favored in the U.S. that economic growth is counter to the gold price and positive for the U.S. dollar. The World Bank has issued positive forecasts for global growth for most nations. In the U.S. growth of 3.2% is forecast against 2% last year. Many institutional fund managers see this as reason to forecast a fall in the gold price to $1,000. Certainly, this is the driver inside the U.S., where institutions dominate markets.


But history shows that the gold price expresses a consensus on the risks facing the global monetary system and confidence in currencies. Growth has not removed these risks in the past, as we saw in 2007 when U.S. growth was at its strongest alongside record gold prices. What has changed since then has not been a growth in currency confidence at all. Quite the reverse, currency fears are growing by the day, because of structural faults in the system irrespective of economic growth.


The divergence of these two views will happen in the near future and the fundamentals will show themselves in the gold price at that time. [Find out more from and to subscribe to our newsletters and visit to hold gold so it can’t be seized]  


Silver – The silver price continues to consolidate with a longer term upward bias.




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Wednesday, 15 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.