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 Gains While Stocks Struggle Higher
By: Chris Mullen, Gold Seeker Report

It’s Lose-Lose For The Fed And For Everyone
By: Dave Kranzler

From China, translated from the Chinese: 'GATA is not wrong'
By: Chris Powell

Michael Pento: Finally, Corporate Stock Buybacks Blow Up
By: John Rubino

The New Safe Haven: Gold Stocks!
By: Stewart Thomson

Stock Market Hangs on Edge of Very Big Cliff
By: David Haggith

Will gold and silver miners join the lawsuits against JPMorganChase?
By: Chris Powell

The Surprising Major Demand Factor That Drives The Gold Price
By: Steve St. Angelo

Why Do Investors Tolerate It
By: Keith Weiner

Watch This Chart to Get the Jump on the Fed’s Big Announcement
By: Rick Ackerman


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Tuesday, 11 February 2014 | Print  | Disqus

Gold Today –The New York gold price was almost unchanged at $1,274.60 up $7.50 at the close on Monday. Asia took it up to $1,285 ahead of London’s opening on Tuesday.  London pulled it back $2 initially before London set the gold price at $1,282.75 up $9.25 up on Monday. In the euro, it Fixed at €938.094 up 4.238, while the dollar stood at $1.3674, again, weaker. Ahead of the opening in New York gold stood at $1,284.30 and in the euro at €939.78.


Silver Today –The silver price closed up at $20.05 up 2 cents in New York. Ahead of New York’s opening, it was trading at $20.18.


Gold (very short-term)


Gold will confirm overhead resistance is broken today, in New York.


Silver (very short-term)


Silver will confirm overhead resistance is broken today, in New York.


Price Drivers

Friday saw no change in the holdings of the SPDR gold ETF [GLD] but a purchase of 0.6 of a tonne into the Gold Trust gold ETF leaving their respective holdings at 797.053 tonnes and 163.18 tonnes. As we said yesterday, “this, alone, will act as a gold and silver price driver from now on.”


You will note above how Asian demand after New York’s close lifted the gold price above resistance $10 higher before London opened. This confirmed our forecast of the last few weeks that a break in resistance and a cessation of U.S. selling of gold would see a restructuring of the gold market. We expect this to continue in the days and weeks ahead. Remember folks, you read it here first and have done for a few weeks! [Find out more from and to subscribe to our newsletters and visit to hold gold so it can’t be seized]


As a result we expect to see short covering out of the developed world which could accelerate the rise today.


 The demand from Asia is primarily from China. We have pointed to the potential demand for gold from China for a long time as being generational. The Head of Goldman Sachs stated yesterday that, “The China growth story is going to be the story of the next 30-40 years,” CEO Lloyd Blankfein said. The same will apply to both gold and silver.


With India expected still to ease the restrictions on importing gold into India and for them to lower the duties on gold and silver [we expect this in the budget at the end of March] the gold market has a turbo charger in its performance on the way. The performance of the gold price will reflect the absence of U.S. based gold selling until then. From its performance in the next two months, we will be able to see just what lies in store for gold for the next year and probably years.

The U.S. dollar weakened slightly to $1.3666: 1.


Silver – The silver price is moving cautiously with gold almost in tandem.




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Tuesday, 11 February 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 - 2019 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, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.