LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Covid, Debt and Precious Metals
By: Richard (Rick) Mills, Ahead of the herd

Precious Metals Update Video: Dollar testing supports, supportive for Gold
By: Ira Epstein

Asian Metals Market Update: June-2-2020
By: Chintan Karnani, Insignia Consultants

Is A Run On Comex And London Gold & Silver Occurring?
By: Dave Kranzler

Gold SWOT: Silver Up on Stronger Industrial Demand
By: Frank Holmes, US Funds

Falling Into Place
By: Ted Butler

Social Unrest Rises as Confidence Falls
By: Clint Siegner, Money Metals

Gold Seeker Report: This Week in Mining Issue #15: Mining Getting Back to Normal
By: Chris Marchese, Chief Mining Analyst at GoldSeek

It Doesn't Get More Bullish Than This!
By: Rick Ackerman, Rick's Picks

Precious Metals Update Video: Gold Monthly Chart Riding the Bollinger Band Upside
By: Ira Epstein


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Monday, 19 May 2014 | Print  | Disqus

Gold Today – The gold price closed at $1,293.1 down $2.50 on Friday, in New York. In Asia the price rose $3.6 ahead of London’s opening, but London took it over $1,300. The gold Fixing was set at $1,301 up $7.25 and in the euro at €948.666 up €5.493 while the euro stood at $1.3714. Ahead of New York’s opening the gold price stood at $1,300.2 and in the euro at €947.70.


Silver Today – The silver price closed at $19.36 down 12 cents on Friday, in New York. Ahead of New York’s opening, it was trading higher at $19.57.


Gold (very short-term)


The gold price will consolidate with a positive bias today, in New York.


Silver (very short-term)


The silver price will consolidate with a positive bias today, in New York.


Price Drivers

The inevitable move in any price pattern is that it if is in an upward trend and it moves sideways, it must break the upward trend. If it is in a downward trend and it moves sideways, it must break that trend and turn up at some point. Both gold and silver are doing that while the metals are in a downward trend currently.  Support to these price moves is being supplied by the 200 and 100-day average below $1,300. The 50-day average is dropping and is now at $1,309. Eventually the 50-day average drops down to the lower levels and a strong move is forced onto the market. We are very close to that now.


There were sales of 0.268 tonnes of gold from the SPDR gold ETF but no activity in the Gold Trust on Friday. Their respective holdings now stand at 781.985 tonnes and 164.02 tonnes. Much larger sales are needed from this fund if the gold price is to fall convincingly. But will they come?


The future of the dollar as the sole global reserve currency has been correctly painted as limited, in view of the rise of the Yuan and the Chinese economy. This week could see a massive deal done on Russian gas to China, which will be done in either the Yuan or the Ruble. This will be the first time a significant energy deal will not be done in the U.S. dollar, if it happens. The significance for the dollar is that alternative currencies have to be included in these countries’ reserves. As it is, we are seeing Russia protect its reserves by moving them out of the reach of the U.S. where possible, in view of the crisis in Ukraine. With the Eurozone’s dependence on Russian gas, will the E.U. eventually have to pay Rubles for it? If the U.S. increases its ire against Russia over the Ukraine, that could be a possibility? [For more on this, subscribe to & visit to hold gold out of reach of potential confiscation.]


The euro is almost unchanged on Friday’s level of $1.3715.


Silver – The silver price has been keen to recover when gold rises even slightly. As such, silver investors and traders remain positive on both silver and by extension on gold. [More in the]




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Monday, 19 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 - 2019 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, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.