Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Roughly 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 12 1 2017
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - December 15, 2017
By: GoldSeek.com

Gold Bullish on Fed Hike 2
By: Adam Hamilton, CPA

Europe, Brexit and the credit cycle
By: Alasdair Macleod

WGC: 2018 Set To Be A Positive Year For Price of Gold and Investors
By: GoldCore

GoldSeek Radio Nugget: John Embry and Chris Waltzek
By: radio.GoldSeek.com

Basing Phase Ending
By: Gary Savage

AlphaZero for President
By: George Smith

Ira Epstein's Metals Video 12 14 2017
By: Ira Epstein

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Thursday, 12 June 2014 | Print  | Disqus 

http://news.goldseek.com/2011/marketmorning.jpg

Gold Today – The gold price closed at $1,261.00 up $0.20 on Wednesday in New York. In Asia and London the price held at that level until the Fix, where it was set at $1,261.75 down $0.75 and in the euro at €932.902 up €0.273, while the euro stood weaker at $1.3525. Ahead of the opening in New York the gold price was trading at $1,264.20 and in the euro at €934.92.

 

Silver Today – The silver price closed at $19.21 down 2 cents, in New York. Ahead of New York’s opening, silver was trading at $19.29.

 

Gold (very short-term)

 

Gold should continue to consolidate, in New York today.

 

Silver (very short-term)

 

Silver, should continue to consolidate, in New York today.

 

Price Drivers

Once again, there were no sales or purchases from the gold ETFs in the U.S. yesterday, while the gold price held in the new tight trading range on relatively light volumes. The euro continues to slip albeit at a slower pace to $1.3522. The holdings of the gold ETFs continue to stand at 787.076 tonnes in the SPDR gold ETF and at 162.51 tonnes in the Gold Trust.

 

The sweet sound being heard this morning, especially to those who believe that gold prices are being manipulated, was that the ‘rigging’ of markets, especially the foreign exchange markets is now being criminalized. Any trader AND banks and its directors, who are seen to be involved in doing this, could face jail time. This will not extend to governments that institute policies that are designed to weaken [rig] exchange rates. We expect the principle now established, to extend to all financial markets including gold and silver. But again if governments deem it necessary to do so they will not face such charges. There is a clear division of institutions and individuals on the one side and governments on the other side in this matter. [Avoid Gold & Silver confiscation; www.Stockbridgemgmt.com ]

This morally muddy distinction should be understood by investors. However, one feature history shows us is that gold keeps standing as real money ‘in extremis’ no matter what governments decide or do. Their efforts to discredit gold either as money or an asset [which is what money should be] have failed over history and in the last 43 years. [For more on this subscribe to www.GoldForecaster.com and visit www.Stockbridgemgmt.com to protect yourself from penalties from holding your gold overseas when it is to be confiscated].

 

Silver – We emphasize that silver prices have moved with gold for the last few years now. In the last year the investment side of silver has grown dramatically, explaining just why silver moves as it does with gold and will continue to do so in the future. Should government take control of the gold markets and stocks, silver will replace it as a store of wealth for sure. When that happens governments will be quick to recognize this and seek to control it too. After all government will need to control whatever constitutes money in extreme times. [www.SilverForecaster.com] So again, we say to silver investors, follow gold if you want to understand silver prices and where they are going.

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,138.29

Sf1,136.85

US

$1,264.20

$1,263.10

EU

€934.92

€933.28

India

Rs.75,017.63

Rs.74,838.68

 


| Digg This Article
 -- Published: Thursday, 12 June 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com 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 GoldSeek.com. 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 GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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 GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.