Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Trump vs the Fed: who wins?
By: Richard (Rick) Mills

Is the Buyer’s Market for Silver Coming to an End?
By: Stefan Gleason

Gold Price Analysis: Closer To A Significant Monetary Event
By: Hubert Moolman

Merk Research - U.S. Business Cycle
By: Merk Research

No One Ever Said Brexit Was Going to Be Easy
By: Frank Holmes

VXX Implies a Stunning Decline Lies Just Ahead
By: Rick Ackerman

Gold Krugerrand Coin Worth $1,200 Donated To Charity Again
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Close Mixed with Stocks
By: Chris Mullen, Gold Seeker Report

The Powers-That-Be Were Everywhere Yesterday
By: Ed Steer

Gold and Silver Price Goals For Year End
By: Craig Hemke

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Thursday, 13 February 2014 | Print  | Disqus 

http://news.goldseek.com/2011/marketmorning.jpg

Gold Today –The New York gold price rose slightly to $1,290.90 up $1.00 at the close on Wednesday. Asia held it there ahead of London’s opening.  London held it there before Fixing the gold price at $1,290.25 up $3.75. In the euro, it Fixed at €943.648 up €0.812, while the dollar stood at $1.3673, almost unchanged. Ahead of the opening in New York gold stood at $1,292.50 and in the euro at €945.88.

 

Silver Today –The silver price closed unchanged at $20.20 in New York. Ahead of New York’s opening, it was trading at $20.24.

 

Gold (very short-term)

 

Gold will continue to gather itself before attacking $1,300 today, in New York.

 

Silver (very short-term)

 

Silver will move in tandem with gold today, in New York.

 

Price Drivers

Wednesday saw no change in the holdings of the SPDR gold ETF [GLD] but a purchase of 0.45 of a tonne into the Gold Trust gold ETF leaving their respective holdings at 798.852 tonnes and 163.63 tonnes.

 

Some more time may be needed before gold makes a successful assault on $1,300. The length of time it takes to move higher depends on the number of ‘stale’ bulls willing to sell at these levels and the perceptions of the market at the moment. Is this a rally or a resumption of the upward trend in gold? Their answer to this question dictates the time it takes to ride through these levels. We believe that any gold that does come onto the market at these levels will be quickly snapped up in the Far East as it continues to take any physical gold that comes on offer. The draining of available gold from the developed world will continue for the next generation.

 

We forecast that the developed world’s perception of gold, established since 1971 as ‘no longer money’ will change back to the concept of gold being before that date as ‘the only reliable money’ globally.  At some point, likely too late, the western central banks, together with the world’s emerging nations central banks will attempt to buy gold again. To do this could require draconian measures within their own borders, when it happens. [Find out more from www.GoldForecaster.com and www.SilverForecaster.com to subscribe to our newsletters and visit www.StockbridgeMgMt.com to hold gold so it can’t be seized]

 

Both the Fed and the Bank of England have been at pains to point out that while an economic recovery is underway on both sides of the Atlantic simple formulae such as unemployment levels are insufficient to dictate the levels of interest rates. In the U.K. the recovery is uneven and probably not sustainable, yet. Likewise in the U.S. the recovery needs to find a much broader front than is being seen, yet. The recovery does not simply have to stimulate ongoing businesses, it has to repair the structural damage inflicted by computer and IT technologies plus the shift of manufacturing to the Far East. The entire process of globalization is causing a global shift in activity that does not favor the developed world. Hence interest rates will stay low for considerably longer than expected. This favors gold and silver, because that shift is far from over and will not be achieved without turbulence in the monetary system.

 

Silver – The silver price continues to build strength ahead of its next moves.

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,155.11

Sf1,155.21

US

$1,292.50

$1,287.00

EU

€945.88

€943.76

India

Rs.80,723.09

Rs.79,903.40

 


| Digg This Article
 -- Published: Thursday, 13 February 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com 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 GoldSeek.com. 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


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, 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 GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, 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.