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

Gold Seeker Closing Report: Gold and Silver Edge Lower Again
By: Chris Mullen, Gold Seeker Report

GoldSeek Radio Nugget: President Niko Cacos, CEO, and Director of Blue Sky Uranium Corp. and Chris Waltzek

Ira Epstein's Metals Video 10 17 2018
By: Ira Epstein

Gold price steadies and rises as BIS intervention diminishes
By: Robert Lambourne

Take a Peek at What the Top 1 Percent Have in Savings
By: Frank Holmes

Why Conflicted Copper Shows Little Consensus
By: Mickey Fulp

Investor Alert: Is the Trump Agenda in Peril?
By: Stefan Gleason

One More Thing To Worry About, Saudi Edition
By: John Rubino

The Golden Implications of Total U.S. Deficits, Debt and Debt Service
By: Craig Hemke

Determining the Outlook for Mining Stocks? Look Deeper Than Others.
By: Przemyslaw Radomski, CFA


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Monday, 12 May 2014 | Print  | Disqus

Gold Today – The gold price closed at $1,288.70 down only $0.50 on Friday, in New York. In Asia and London the gold price hovered around $1,289 and $1,290. The gold Fixing was set at $1,292.75 up $3.75 and in the euro at €938.953 up €5.707 while the euro stood at $1.3768 weaker by half a cent. Ahead of New York’s opening the gold price stood at $1,294.65 and in the euro at €940.96.


Silver Today – The silver price closed at $19.15 on Friday, in New York. Ahead of New York’s opening, it was trading higher at $19.42.


Gold (very short-term)


The gold price will be in a very tight range ahead of a strong move either way, in New York, today.


Silver (very short-term)


The gold price will be in a very tight range ahead of a strong move either way, in New York, today.


Price Drivers

There were no sales from the SPDR gold ETF or from the Gold Trust on Friday. Their respective holdings still stand at 782.852 tonnes and 164.02 tonnes. Without such sales Asian demand exerts an upward pressure on the gold and silver price. The prices of both metals has, for the last few business days, narrowed into a very tight trading range, despite traders attempts to bring volatility to these markets. Such tightness precedes a strong move either way, making the market far more volatile than we have seen for a fortnight. The Technical picture points down, the fundamentals point up. But we expect the SPDR gold ETF has the power to influence the direction of both gold and silver in the very short-term. [For more on this, subscribe to  and and visit to hold gold out of reach of potential confiscation]


Bloomberg conducted a poll of investors in Europe on the prospects for inflation or deflation. While we take these polls as peripheral information, in this case around 75% of them fear deflation over inflation. Of course inflation is not a threat until it is so high it becomes destructive. At 0.7% this is not the case, but the fear of deflation is something else. It is becoming more likely after 7 years of attempts to resuscitate an economic recovery, with the results disappointing. Yes, there is a recovery, but it has a very long way to go before it is sustainable. It can easily tip over to deflation if attempts to lift inflation are not successful. In the Eurozone deflation will be far more pernicious that in other trading bloc, because of the nature of the Eurozone’s structure. The focus of attention on this front is the exchange rate of the euro. Such a focus will make markets volatile as this rate moves either way.


In India the last day of voting is underway and a new government may rule on easing restrictions on gold imports shortly.


Silver – The silver price is marking time ahead of a strong move either way.




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Monday, 12 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.