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: Wednesday, 19 February 2014 | Print  | Disqus

Gold Today – The New York gold price rose to close at $1,322.00 up $3.40 on Tuesday in New York. Asia took it lower to $1,314 before it rose to $1,318.55 ahead of London’s opening on Wednesday. The dollar continues to weaken and stood at $1.3764: €1 ahead of London’s opening.  London held gold at Asia’s price before the Fixing, which was set at $1,318.75 up $4.75. In the euro, it Fixed it higher at €959.091 up just over €1.505, while the dollar stood at $1.3751, weaker again. Ahead of the opening in New York gold stood at $1,319.20 and in the euro at €959.63.


Silver Today –The silver price closed up at $21.96 up 51 cents in New York. Ahead of New York’s opening, it was trading at $21.80.


Gold (very short-term)


Gold will continue to consolidate, but with a positive bias, today in New York.


Silver (very short-term)


Silver will continue to consolidate, but with a positive bias, today in New York.


Price Drivers

The gold and silver prices are still gathering themselves, now that the $1,300 level has been overcome. With a calmer market, traders, speculators and heavy computer trading pushes prices in line with the weakening of the dollar, using the Dollar: Euro relationship as a guide. The developed world sees the dollar’s moves against gold as a ‘counter’ to the dollar. While this is accepted in markets, there is little logic to it, for it implies that gold is moving in tandem with the euro, something with which it has no common denominator. Nevertheless, that has been the case for a long time now. It changes when strong physical demand comes in from Asia. Of course, Asians buy gold and silver with total disregard for events between the dollar and the euro or with day-to-day economic events in the U.S.


Gold & Silver really show how they ‘counter’ currencies, when a situation such as now seen in Argentina arrives. With inflation at 44%, the Peso dropping 19% in the last month and a court ruling that Argentina must repay $1,2 billion [from its remaining $28 billion of reserves] expected, in terms of international debt, the currency is in trouble. Will they default? Argentineans that hold high caratage gold have seen the value of that gold rise not only by the recovery in the dollar gold price but by the amount the currency has fallen and will fall. In this uncertain world, gold and silver will continue to give such protection in extreme times.


There were no sales of gold from the SPDR gold ETF [GLD] or from the Gold Trust, once again, leaving their respective holdings at 801.251 tonnes and 163.63 tonnes. Each day there are no sales from this U.S. source is a day confirming that U.S. sales of gold are ending. This removes a supply of around 1,300 tonnes of gold from the market, 900 from gold ETFs and the balance from Goldman Sachs, J.P. Morgan Chase and clients. With this important line of supply in 2013 now gone, demand is that much bigger than supply! [Get the bigger, longer picture from and to subscribe and visit to hold gold so it can’t be seized]


Silver – The silver price is robust, but volatile and will continue to be so.




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Wednesday, 19 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 - 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.