LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines to Launch New Website

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Friday, 14 March 2014 | Print  | Disqus

Gold Today – The New York gold price closed at $1,371.60 up $4.60 on Thursday in New York. Asia took it up again to $1,375 ahead of London’s opening. The gold price was Fixed in London at $1,370.00 down $1.00. In the euro, it Fixed at €986.463 up €4.16 as the dollar continued to strengthened to $1.3888 up 0.69 of a cent against the euro. Ahead of the opening in New York gold stood at $1,371.70 and in the euro at €987.37.

Silver Today – Again, the silver price closed at $21.17 down 11 cents in New York. Ahead of New York’s opening, it was trading at $21.33.

Gold (very short-term)

We expect the gold price to consolidate with a stronger bias, today in New York.

Silver (very short-term)

We expect the silver price to consolidate with a stronger bias, today in New York.

Price Drivers

Gold held its gains yesterday and is doing so at the moment. While there is little, if any, overhead resistance until over $1,400, it would reinforce the breakout if the gold price consolidated at these or slightly lower levels. But this may not happen as this is a Friday and activity in the gold markets is at its weekly highs today. There are many short positions out there that are becoming very nervous. Nevertheless, we would expect a day of consolidation, with a positive bias, to be most likely.

The dollar is trying hard not to fall further today as it recovered 0.69 of a cent against the euro on Asian markets. The swap arrangements between the E.U. and the U.S. are more than sufficient to hold this exchange rate at a level the authorities wish it to trade at, despite the downward trend for the dollar against the euro. In the past, we have seen it over $1.40: €1, but have noted that it was pulled back to between $1.20 and $1.40. It is in the interests of both the U.S. and E.U. to keep it there. Therefore gold, if it moves higher, will do so against all currencies.

There were small purchases into of the SPDR gold ETF [GLD] of 2.098 tonnes but none into or from the Gold Trust, on Thursday, which left their respective holdings at 813.296 tonnes and 165.14 tonnes. The purchase was too small to impact the gold price, but it confirms that the fund reflects two way traffic and a changed attitude to gold in the U.S. We are constantly watching to see if our conclusion that broad based U.S. sales of gold have stopped. If so, then last year’s supply of 1,300 tonnes has stopped. This is and will affect the structure of the supply / demand picture significantly. [For more on this, subscribe to and and visit to hold gold out of reach of potential confiscation]

Silver – The silver price is holding back today waiting for gold to lead the way but prepared for a pullback in the price of gold. In the past, when this has happened silver holds back for some time then suffers the ‘shunt’ effect, when gold moves forward firmly. We need to point out that the silver price is made in the U.S. not in London.


Julian D.W. Phillips for the Gold & Silver Forecasters Global Gold Price (1 ounce)















| Digg This Article
 -- Published: Friday, 14 March 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.