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

Technical Scoop - Weekend Update October 15 2018
By: David Chapman

Gold Market Update - the 7-year bearmarket phase is over...
By: Clive Maund

Beach Time
By: Larry LaBorde

Don’t Follow Fake News Or Fake Analysts In Metals
By: Avi Gilburt

Consider This Your Final Warning About Gold, For Bulls And Bears Alike
By: Avi Gilburt

Northern Vertex Announces Financing Transactions Strengthen Balance Sheet During Early Production and Create Financial Flexibility to Pursue Existing Growth Opportunities
By: Northern Vertex Mining Corp.

Why It’s Worth Holding Gold in Your Portfolio
By: GoldCore

GoldSeek Radio: Joseph Grosso, Axel Merk and Brian McEwen, and Chris Waltzek

Fascism Perfect Antidote: The Gold Standard
By: Jim Willie CB

Red Hot China Mailbag
By: John Mauldin


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Monday, 20 January 2014 | Print  | Disqus

Gold Today –On Friday the gold price in New York closed higher at $1,254 with Asia lifting it $1.2 higher to $1,256. The dollar was stronger at $1.3556: €1. In London the gold price was Fixed at $1,254.75 up $13.75 on Friday. In the euro, it Fixed at 925.878 up €13.246. Ahead of the opening in New York gold stood at $1,254.90 and in the euro at €925.99. The dollar stood at $1.3551:  €1


Silver Today –The silver price on Friday closed at $20.30 with Asia lifting it to $20.31 before London’s opening. Ahead of New York’s opening, it was trading at $20.35.


Gold (very short-term)


We expect a positive performance by the gold price today, in New York.


Silver (very short-term)


We expect a positive performance by the silver price today, in New York.


Price Drivers

Friday saw purchases into the SPDR gold ETF of 7.498 tonnes but no movement in the Gold Trust gold ETF leaving their respective holdings at 797.054 and 161.37 tonnes respectively. We expected to see sales on a Friday and have not seen purchases of this size since 2012 when gold prices were over $1,700. [Find out more from and to subscribe to our newsletters and visit to hold gold so it can’t be seized]


Could this be the turning point in the precious metals market?


As you know we at Gold Forecaster have been focused on U.S. gold selling via the U.S. based gold ETFs. And as you know the SPDR gold ETF is the vehicle of choice for U.S. institutions. This fund has sold off around half its holdings in the last 1+ year against a 33% sell off of total U.S. gold ETFs. We have been looking to see when the selling would stop, not when purchases would begin. This purchase surprised us particularly as it is a substantial amount of gold. Bear in mind that the gold market has been in rough balance for the last few months, so a change like this tips the see-saw. This aspect of the gold market is now center stage!


China has reported a growth rate higher than government targets at 7.7%. After the tremendous growth of the last 15+ years at 10%+, lower growth rates indicate that after building the shell of the economy, the inside body of China’s economy is now being built. This is the development of the people, whose economic growth is necessary for the economy to become self-sustainable and independent of the developed world. To gold investors this is critical, because of the Chinese propensity to acquire physical gold for financial security. This is more than a generational trend. It is an intrinsic facet of Chinese thinking. Therefore this news continues to be extremely gold positive.


The announcement of a Yuan priced gold contract on the Shanghai gold exchange adds to this concept as now foreigners who wish to buy this product must sell dollars to buy Yuan so they can buy this gold contract. This is step towards Yuan convertibility and a sign of things to come when the Yuan will be a currency that can stand alone without the dollar.


Silver – The silver price is moving up with gold and may well run ahead of it.




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Monday, 20 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.