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

As Oil Plunges, Energy Junk Bonds Turn Dangerous — Again
By: John Rubino

$2.06 Crude Target Absurd but Useful
By: Rick Ackerman

Asian Metals Market Update: Nov 14 2018
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Hold Steady While Oil Slumps 7%
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 13 2018
By: Ira Epstein

Market Tactics For A Golden Smile
By: Stewart Thomson

A surprise jump in investor and central bank gold demand
By: Michael J. Kosares

The Failure of a Gold Refinery
By: Keith Weiner

Is Silence Golden?
By: Arkadiusz Sieron

Ten Points or Ten Miles to ‘Bridge Out’?
By: Andy Sutton and Graham Mehl


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Thursday, 5 June 2014 | Print  | Disqus

Gold Today - The gold price closed at $1,243.70 down $2.60 on Wednesday in New York. In Asia and London the price remained the same. It was then set at $1,244.75 down $1.25 and in the euro at €914.450 down €1.39, while the euro stood at $1.3612. Ahead of the opening in New York the gold price was trading at $1,244.60 and in the euro at €917.17.


Silver Today – The silver price closed at $18.81 down 3 cents, in New York. Ahead of New York, silver was trading at $18.80.


Gold (very short-term)


The gold price will rise in the euro and will hold or fall in the dollar, in New York today.


Silver (very short-term)


The silver price will follow gold, in New York today.


Price Drivers

All eyes on the E.C.B. today and for press briefing later! We now see negative interest rates for banks depositing with the E.C.B. We wait for the announcement of other easing later as New York opens. Mario Draghi is focused on the exchange rate and its weakening and not directly on growth. Growth, it is hoped will be spurred by a cheaper euro. The hard reality is that measures that make bank balance sheets sound, don’t promote growth. The shrinking of bank balance sheets and added regulation shrinks lending, damaging the economy and crippling growth. This is the lesson of the last seven years. The governments in the developed world have not stimulated growth, relying almost entirely on the banking system to do it. That’s why the economies are struggling after all this time still. The economies are reacting, heading to moderate deflation in Europe. Once it arrives it will be a far more destructive process than moderate inflation could ever be. It will be a far harder problem to solve than inflation, a problem that looks as though it is too much for the governments and banking system already. Longer-term gold will benefit from the dilemma!


The gold price has barely moved since yesterday but the euro is starting to fall again. We ask, why is the E.C.B.’s statements so important to the world economy that all markets are now in a state of suspense? It’s because the actions of the E.C.B. will give direction to developed world markets either in the direction of deflation if too little is done or growth/inflation if it is felt enough has been done. If all that happens is for interest rates to be lowered not enough will have been done.


There were no purchases or sales of gold into or from the SPDR gold ETF yesterday but 0.9 of a tonne of gold was sold from the Gold Trust. This left their holdings at 787.076 tonnes in the SPDR gold ETF and 162.51 tonnes in the Gold Trust. This did not affect the gold price.


While the gold price is essentially being driven by a solid huge current of Asian demand, added demand from the western world  will spur higher gold and silver prices. [For more on this subscribe to and visit to protect yourself from penalties from holding your gold overseas when it is to be confiscated].  


Silver – The silver price is marking time with gold.[More in the]. 




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Thursday, 5 June 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.