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 Edge Lower Again
By: Chris Mullen, Gold Seeker Report

GoldSeek Radio Nugget: President Niko Cacos, CEO, and Director of Blue Sky Uranium Corp. and Chris Waltzek

Ira Epstein's Metals Video 10 17 2018
By: Ira Epstein

Gold price steadies and rises as BIS intervention diminishes
By: Robert Lambourne

Take a Peek at What the Top 1 Percent Have in Savings
By: Frank Holmes

Why Conflicted Copper Shows Little Consensus
By: Mickey Fulp

Investor Alert: Is the Trump Agenda in Peril?
By: Stefan Gleason

One More Thing To Worry About, Saudi Edition
By: John Rubino

The Golden Implications of Total U.S. Deficits, Debt and Debt Service
By: Craig Hemke

Determining the Outlook for Mining Stocks? Look Deeper Than Others.
By: Przemyslaw Radomski, CFA


GoldSeek Web

Gold & Silver Market Morning: January 23, 2014

 -- Published: Thursday, 23 January 2014 | Print  | Disqus 

Gold Today –New York saw gold fall to $1,237 then took it down to $1,234 in thin trade in both markets. Ahead of the opening in London it recovered to $1,238. The dollar traded at $1.3548: €1 then. London traded up from $1,238 until the Fixing, which was set at $1,244.25 up $4.75 on Wednesday. In the euro, it Fixed at 912.876 down €3.095 reflecting a weaker dollar which stood at $1.3632: €1. The Fix was set quickly, showing us that the volumes were thin in the Fixing. Ahead of the opening in New York gold stood at $1,245.15 and in the euro at €913.27.


Silver Today –The silver price vacillated around $19.80 to $19.77 at the close in New York and Asia before London’s opening. Ahead of New York’s opening, it was trading at $20.10.


Gold (very short-term)


We expect a positive bias to the gold price today, in New York.


Silver (very short-term)


We expect a positive bias to the silver price today, in New York.


Price Drivers

Yesterday saw 1.2 tonnes of gold sold from the SPDR gold ETF [GLD] but none sold from the Gold Trust gold ETFs leaving their respective holdings at 795.894 tonnes and 161.37 tonnes. These sales restrained the gold price from its expected rise, but little more as trade in gold bullion was thin.

The gold price remains well supported at these levels, but overhead resistance is weakening visibly. The tone of the gold market remains good despite the U.S. equity markets remaining strong. Today’s thinking is that, when the U.S. equity markets rise, gold should fall. But this is not happening, as both look good. [Find out more from and to subscribe to our newsletters and visit to hold gold so it can’t be seized]


A point that is being overlooked in the U.S. as their equity markets remain strong is that while the recovery is moving slowly forward the impetus is coming from two sources. The first is lowering gas prices [expected to bottom around $80] with U.S. self-sufficiency in energy well on the way and the disturbing fact that interests rates are at all time lows. So investors are buying better returns in the equity market than they can get in fixed interest rate markets, not on the expectation of robust growth. The dangers this situation brings is illustrated by the expectation that when interest rates rise, equity and fixed interest rate markets will fall. If deflation, as warned by the IMF is on the way, the classic government counter to that is to lower interest rates. Well, with interest rates already at the bottom, they can’t. Consequently the ‘big’ picture is not a healthy one for the developed world economy. But gold is now not rising with the dollar and U.S. equity markets because of this, but because it is global in nature and global demand overall remains robust, with more good news on the way!


Silver – The silver price true to history continues to move in tandem with gold. That’s why, what affects gold affects silver prices too.



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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Thursday, 23 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.