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

SSR Mining begins drilling at Eagle Plains (TSX-V: EPL) Fisher Gold Property
By: Nicholas LePan,

GoldSeek Radio Nugget: Peter Schiff and Chris Waltzek

Gold +1.8%, Silver +2.5% As Fed Increases Rates And Trade War Looms
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Gain Roughly 2% After Fed
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 21 2018
By: Ira Epstein

JPMorgan's Domination of COMEX Silver
By: Craig Hemke

Can Central Banks Manage the Deflation of an Everything Bubble?
By: Graham Summers

No, gold leased from central banks doesn't always have to be returned
By: Chris Powell

Why the World’s Central Banks hold Gold – In their Own Words
By: Ronan Manly

WATCH OUT BELOW: Dow Jones Index Next Stop… 19,000
By: Steve St. Angelo


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Tuesday, 29 April 2014 | Print  | Disqus

Gold Today – The gold price closed at $1,296.60 up $3.70 on yesterday, in New York. It was not showing any independent moves, simply moving with the dollar. In Asia it was being pulled back to $1,293 just ahead of London’s opening. In London it was Fixed this morning at $1,289.75 down $12.25 and in the euro at €930.019 down €6.805. The euro itself stood at $1.3868 barely changed. Ahead of the opening in New York gold stood at $1,290.40 and in the euro at €930.20.


Silver Today – The silver price closed at $19.59 down 8 cents on yesterday, in New York. Ahead of New York’s opening, it was trading higher at $19.40.


Gold (very short-term)


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


Silver (very short-term)


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


Price Drivers

Yesterday we said that, “We believe that China, either knowingly or unknowingly, is controlling the gold price, not New York!” This may have confused readers because normally one controls a price by leading it higher. This would be reasonable, normally. But when one wants volume and not higher prices, other methods can be used, very effectively.


There is a large debate around the amount of gold imported into China. We are given precise amounts that enter China via Hong Kong, but these differ considerably from the amount of gold delivered to gold owners from the Shanghai Gold Exchange. If this is a net figure these numbers are valid, as there sellers as well, despite the vast majority being holders for the long term. We now hear that Beijing is opening up for gold imports too and are sure these numbers are not going to be released to the public. This highlights another point about Chinese gold policy. It is not in their interests to broadcast just how much gold they are importing, just as it is not in their interests to broadcast any increase in the gold reserves held on behalf of the People’s Bank of China, as yet. So don’t expect to see definitively accurate gold import figures, unless the Chinese government deems it is in their interests to do so!


[For more on this, subscribe to  and and visit to hold gold out of reach of potential confiscation]


There was no change to the holdings of the SPDR gold ETF or the Gold Trust. Their respective holdings still stand at 792.139 tonnes and 164.41 tonnes. The efforts of a group of speculators to suppress the gold price by exerting downward pressure on precious metal prices at the point in the 24-hour market when they are at their quietest [as they are closing or just opening] continue unabated. But to be successful they do need physical sales to keep those prices down. We watch to see if these are being triggered.


Silver – The silver price is again following the gold price in tandem and unlikely to move differently soon




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


Global Gold Price (1 ounce)



Friday 17th














| Digg This Article
 -- Published: Tuesday, 29 April 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 - 2017 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.