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

CPM Group’s Jeff Christian Responds “NEGATIVELY” To The SRSrocco Report On Silver Investment Demand
By: Steve St. Angelo

Low Silver Price Creating Buying Opportunities; SilverCrest Preparing for Maiden Resource
By: Nicholas LePan, SilverSeek.com

Cryptojunkies: Beware the Ides of December
By: Michael Ballanger

This Week in Bitcoin: The IRS Targets Coinbase, Venezuela to Mint Its Own Cryptocurrency
By: Frank Holmes

Gold Seeker Closing Report: Gold and Silver Fall While Stocks Edge Higher
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 12 11 2017
By: Ira Epstein

Michael Pento: Epic Stock Market And Fixed Income Bubble Will Not End Well
By: Mike Gleason

100% Bullish Signal for Precious Metals Sector
By: Przemyslaw Radomski, CFA

Jack Chan's Weekly Precious Metals Market Update
By: Jack Chan

SWOT Analysis: Is Gold Set to Rise in 2018?
By: Frank Holmes

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Friday, 11 April 2014 | Print  | Disqus 

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

Gold Today – The gold price closed at $1,318.00 up $6.90 on Thursday, in New York. Asia lifted it to $1,319.35 ahead of London’s opening. The gold price was Fixed in London at $1,317.25 down $4.25. In the euro, it Fixed at €948.617 down €4.571 as the euro was weaker at $1.3886 down from $1.3866: €1. Ahead of the opening in New York gold stood at $1,322.25 and in the euro at €951.53.

 

Silver Today – The silver price closed at $20.05 up 17 cents on Thursday’s close, in New York. Ahead of New York’s opening, it was trading higher at $20.11.

 

Gold (very short-term)

 

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

 

Silver (very short-term)

 

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

 

Price Drivers

Gold and silver prices remain well positioned for further rises today despite sales of o.262 tonnes from the holdings of the SPDR gold ETF but none from the Gold Trust. Their respective holdings stand at 806.221 tonnes and 164.41 tonnes. It takes substantial sales to hurt the gold price now. We do not expect to see more of these.

 

China took another cautious step forward towards the free convertibility of the Chinese Yuan yesterday when it announced the first tentative cross borders trading between Hong Kong and Shanghai in stocks listed on both exchanges to begin in 6 months time. This will give Chinese stockbrokers experience in arbitrage dealing, a fundamental practice in international dealing. After that, it is a relatively small step to widen out international dealing in a big way.  We are of the opinion that a firm signal that China is on the brink of ‘free convertibility’ of the Yuan will come when they perceive it is in their interests to announce the current gold holdings of the People’s Bank of China [China’s gold reserves]. Such an announcement will confirm the solid backing of the Yuan by gold.

 

Strong hints that the I.M.F. is not a happy place, came from indications that 20 leading nations are contemplating leaving it. The I.M.F. is a U.S.-controlled body. As China rises in monetary power it should have had a significant role already, but the 16.8% vote of the U.S. against a requirement that 85% of votes is required before any motion is carried is going to have to be changed before that control is removed. This is unlikely!

 

Serious dollar weakness continues as it is looking to weaken across the $1.39: 1 line. As the realization that interest rates hikes are not going to happen for more than a year still, the dollar is falling fast. [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]

 

Silver – The silver price remains robust.

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Friday

Franc

Sf1,157.70

Sf1,159.71

US

$1,322.25

$1,321.00

EU

€951.53

€952.62

India

Rs.79,639.12

Rs.79,438.34

 


| Digg This Article
 -- Published: Friday, 11 April 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.