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

Why 2017 Was a Year to Celebrate
By: John Mauldin

The Man Who Invented Christmas
By: Larry LaBorde

WORLD SILVER PRODUCTION: 3 Charts You Won’t See Anywhere Else
By: Steve St. Angelo

Explaining My Amazement About Those Turning Bullish On The Banking Sector Now
By: Avi Gilburt

Gold And Silver Futures Swing From Bearish To Bullish In Just Two Weeks
By: John Rubino

The Most Outlandish Gold Products You Can Buy
By: BullionStar

Trade Racks Up Gains as Bitcoin Steams Toward 22104
By: Rick Ackerman

GoldSeek.com Radio: John Embry and Charles Hughes Smith, and your host Chris Waltzek
By: radio.GoldSeek.com

Technical Scoop - Weekend Update Dec 17
By: David Chapman

Gold – WE’RE “CLOSE ENOUGH”
By: Gary Savage

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Wednesday, 19 March 2014 | Print  | Disqus 

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

Gold Today – The New York gold price closed at $1,355.40 down $10.80 on Tuesday in New York. Asia held it slightly below that level ahead of London’s opening. The gold price was Fixed in London at $1,346.00 down $16.50. In the euro, it Fixed at €967.162 down €12.208 as the dollar continued to weaken to $1.3917: €1. Ahead of the opening in New York gold stood at $1,347.25 and in the euro at €967.23.

Silver Today – The silver price closed at $21.13 down 28 cents in New York. Ahead of New York’s opening, it was trading at $20.80.

Gold (very short-term)

We expect the gold price to react to the Fed statement, today in New York.

Silver (very short-term)

We expect the silver price to react to the Fed’s statement, today in New York.

Price Drivers

Yesterday, there were no sales or purchases from or into the SPDR gold ETF. The Gold Trust saw a purchase of 1 tonne which left their respective holdings at 812.776 tonnes and 166.14 tonnes. The purchase appeared to have happened after the gold price had dropped back to support around $1,350. This appears to be a good entry point for us. The U.S. dollar is only marginally changed at $1.3925: €1, as it continues to stand at the bottom end of its ‘unofficial’ trading range, just above $1.40: €1. [For more on this, subscribe to www.GoldForecaster.com and www.SilverForecaster.com and visit www.StockbridgeMgMt.com to hold gold out of reach of potential confiscation]

While media reports continue to put the Ukraine center stage, the markets have marginalized it in terms of its impact on them. We do not consider it to have an influence on the gold or silver prices, at the moment.

Today’s focus of attention is on the FOMC with all looking to see if tapering is continuing, as we have seen of late. We believe it will, but would emphasize the separation Janet Yellen, the Chairman of the Fed, has made that interest rates are not linked to ‘tapering’, which we expect to continue at $10 billion today. The market may well see it differently and try to raise rates independently. We concur with the view she stated when taking office, that the U.S. economy has a long way to go before the Fed can raise interest rates. Perhaps just the prospect of such a rise is causing foreign investors to flee the market, as we mentioned yesterday. Combine the prospect of Treasury prices falling with the dollar slipping as well, and we see adequate reason for closing foreigner’s positions. Rate rises cause capital outflows from the emerging world back to the U.S. and emerging world sales of Treasuries see capital flows leaving the U.S. [as they sell dollars]. But right now the outflow is far worse than the inflow as the dollar reaches the bottom of its trading range at $1.40: €1.

With such prospects the gold market is trying to discount the worst, but the worst may well not happen. It is not heavy physical selling that is making the gold or silver price, so we may see volatility in these prices today. Janet Yellen holds center stage!

Silver – The silver price is proving as cautious as the gold price today.

Regards,

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

Today

Yesterday

Franc

Sf1,177.50

Sf1,191.45

US

$1,347.25

$1,362.75

EU

€967.23

€980.40

India

Rs.82,242.88

Rs.84,355.76


| Digg This Article
 -- Published: Wednesday, 19 March 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 - 2017



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

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.