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 Find Slight Gains on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 19 2018
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - October 19, 2018

Gold Is Becoming Cool Again
By: John Rubino

Inflection Point for Gold
By: David Brady, CFA

Gold-Stock Sentiment Shifting
By: Adam Hamilton, CPA

Gold’s Official Price is $42, and maybe that’s a Good Thing
By: JP Koning

GoldSeek Radio Nugget: Ralph Acampora and Chris Waltzek

Is Your Portfolio Ready for the Greatest Demographic Shift in History?
By: Marin Katusa

Is Bitcoin Ever A Buy-And-Hold?
By: Avi Gilburt


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Friday, 31 January 2014 | Print  | Disqus

Gold Today –The New York gold price fell back to $1,243.00 from $1,269.80 at the close on Thursday. Asia held it around there before London fixed it at took it down to $1,258.20 ahead of the Fix. It Fixed at $1,246.50 down $7.50 on Thursday. In the euro, it Fixed at 920.538 down €1.656 reflecting a stronger dollar which stood at $1.3533 up 0.65 cents. Ahead of the opening in New York gold stood at $1,245.65 and in the euro at €920.73.


Silver Today –The silver price fell to $19.20 down 58 cents in New York. Asia and London took it back up to $19.24. Ahead of New York’s opening, it was trading at $19.24.


Gold (very short-term)


We expect gold to consolidate with a positive bias today, in New York.


Silver (very short-term)


We expect silver to consolidate with a positive bias today, in New York.


Price Drivers

Thursday saw, for the third time in the last fortnight, purchases of gold into the SPDR gold ETF [GLD] of 1.00 tonne with none sold from the Gold Trust gold ETF, leaving their respective holdings at 793.555 tonnes and 161.37 tonnes. The remarkable feature of New York yesterday was the rapid fall at the opening in New York down to nearly $1,240 before trying to rise again. It was as though whoever sold the gold price down [or drove it down] held it down until the close at $1,243. At first we thought it was a heavy sale from the SPDR gold ETF [GLD] but as you can see there were purchases, not sales, from there. This is two days where the gold price was expected to rise but fell. History has taught us unless such falls are accompanied by physical sales the price is likely to recover quickly. With today being the most dramatic of the week and February next week we favor the upside in the gold price today.


The Chinese Lunar New Year is today so we again expect a fall in demand from there for at least the few days. Perhaps this gave large short sellers the opportunity to drive prices lower, back to support yesterday. With Chinese demand returning after their holiday speculators are taking high risks in going short for longer than the holiday, there.


The South Africa Rand is on the back foot again and slipping lower against the dollar, but today it is dollar strength, not so much Rand weakness that is lowering that exchange rate. This drops lifts the price gold miners receive.


The dollar is trying to recover against the euro. Our opinion is that the lowering of QE while the Fed promises to hold interest rates at the lows is no cause for dollar strength.


[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 remains on the back foot too, looking for gold to turn around before it does.




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Friday, 31 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.