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

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Roughly 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 12 1 2017
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - December 15, 2017
By: GoldSeek.com

Gold Bullish on Fed Hike 2
By: Adam Hamilton, CPA

Europe, Brexit and the credit cycle
By: Alasdair Macleod

WGC: 2018 Set To Be A Positive Year For Price of Gold and Investors
By: GoldCore

GoldSeek Radio Nugget: John Embry and Chris Waltzek
By: radio.GoldSeek.com

Basing Phase Ending
By: Gary Savage

AlphaZero for President
By: George Smith

Ira Epstein's Metals Video 12 14 2017
By: Ira Epstein

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Tuesday, 15 April 2014 | Print  | Disqus 

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

Gold Today – The gold price closed at $1,326.70 up $8.90 Monday, in New York. Asia pulled it down to $1,311 ahead of London’s opening. The gold price was then Fixed in London at $1,311.50 down $13.00, because of the weaker euro. In the euro, it Fixed at €950.431 down €7.616 as the euro was weaker at $1.3800 down from $1.3825: €1. Ahead of the opening in New York gold stood at $1,308.00 and in the euro at €947.65.

 

Silver Today – The silver price closed at $19.99 up 4 cents on Monday’s close, in New York. Ahead of New York’s opening, it was trading higher at $19.85.

 

Gold (very short-term)

 

We expect the gold price to consolidate again, today in New York in line with euro moves.

 

Silver (very short-term)

 

We expect the silver price to consolidate, stronger than gold, today in New York.

 

Price Drivers

After Mario Draghi’s confirming that he wants to see a weaker euro, the market has obliged by pulling it back from its recent peak just under $1.40: €1 to $1.38: €1. If gold is moved in the same way as gold, we come to $1,307. This is where the gold price is now. We did not see selling of gold to press the gold price down, but dealer’s adjustment of prices in line with the dollar’s strength. Like the waves on the seashore the gold price fell but we believe this will bring in Asian buyers allowing the gold price to move higher after the current consolidation is complete.

 

Yesterday saw purchases of 1.798 tonnes into the holdings of the SPDR gold ETF, but none from the Gold Trust. Their respective holdings stand at 804.423 tonnes and 164.41 tonnes. This left New York closing at a high, but then the euro started to fall and in a knee-jerk reaction dealers, arbitrageurs and speculators pulled the gold price down in Asia but on little real selling. We do expect Asian buyers to see price falls as an opportunity to buy, not to sell. We see the undercurrent of robust gold demand easily capable of overwhelming these professionals. [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]

 

As statistics from the World Gold Council confirm the views we have held for several years now; that Asian demand and in particular, Chinese demand will overwhelm developed world demand and keep growing irrespective of the price, but in line with the growth of the Chinese middle classes, we see their important report as being virtually ignored by the gold market.  China is developing the skills and infrastructure needed to dominate and control the gold market itself now, to back up the dominant demand it has for gold.

 

Silver – The silver price remains robust and did not want to fall much when gold did. We see silver remaining stalwart.

                                  

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,164.30

Sf1,164.30

US

$1,324.20

$1,324.20

EU

€957.90

€957.90

India

Rs.79,677.11

Rs.79,677.11


| Digg This Article
 -- Published: Tuesday, 15 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.