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

GoldSeek Radio Nugget: Ralph Acampora and Chris Waltzek

Falling Stocks Reflect a Darkening Reality
By: Rick Ackerman

Gold Reserves Surge 1,000% In Hungary As It Joins Poland, Russia, China and Other Central Banks Buying Gold
By: GoldCore

Gold Seeker Closing Report: Gold Gains While Stocks Fall Markedly
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 18 2018
By: Ira Epstein

The Incredibly Bullish Set-Up for Gold
By: Michael Ballanger

End of the World – Part One
By: Gary Christenson

The Weighted Average Cost Of Capital
By: Adam Taggart

Gold Would Not Enjoy That FOMC Is Going More Restrictive
By: Arkadiusz Sieron

Are You An Investor Being Set Up For The Slaughter?
By: Avi Gilburt


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Friday, 2 May 2014 | Print  | Disqus

Gold Today – The gold price closed at $1,284.90 down $5.50 on yesterday, in New York. In Asia it was being pulled back to $1,283 again and holding in London. The dollar recovered to $1.3858, 0.2 of a cent. The gold price was Fixed in London at $1,285.00 and in the euro at €927.262 while the euro was at $1.3858. Ahead of the opening of New York, gold stood at $1,287.00 and in the euro at €928.64.


Silver Today – The silver price closed at $19.06 down 13 cents on yesterday, in New York. Ahead of New York’s opening, it was trading higher at $19.16


Gold (very short-term)


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


Silver (very short-term)


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


Price Drivers

While May 1st was a holiday in China, we don’t expect to see Chinese gold demand impact the gold price until next week. However, the London gold market was not happy with falling prices and lifted them ahead of New York’s opening.


There were sales of 2.397 tonnes from the SPDR gold ETF and 0.36 tonnes from the Gold Trust. Their respective holdings still stand at 785.548 tonnes and 164.05 tonnes. Again, this was the main factor behind the fall in the gold price yesterday in New York. The gold price is now sitting on strong support.


China is open again today, but we don’t expect its presence to be felt until next week as the long weekend is underway.


As markets digest the Fed’s statement this week it is becoming clear that they are not so positive on the recovery as they were. No longer are they saying growth must accelerate from the 2% to 2.5% a pace it has averaged since the recovery first started. Instead, they are stressing the importance of preventing the expansion from faltering. Janet Yellen said two weeks ago that the central bank is concerned with what “may be pushing the recovery off track.” Contrast that with her comments on March 4, 2013, of the importance of seeing “a convincing pickup in growth.” This certainly adds a new dimension to ‘a considerable time before interest rates are o rise’. Extend that to the rest of the world and the E.U.’s fragile recovery is called into question bringing Q.E. there, closer to reality, no matter what the E.C.B. says. This is all gold positive. [For more on this, subscribe to  and and visit to hold gold out of reach of potential confiscation]


Silver – The silver price is waiting for direction from the gold price now.




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


Global Gold Price (1 ounce)



Friday 17th














| Digg This Article
 -- Published: Friday, 2 May 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 - 2018 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.