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

Pay Attention Moment- Time to wake up from your Summer Slumber
By: Plunger

Gold Bears Are Roaring Louder
By: Avi Gilburt

The explosive questions the gold riggers won't answer -- and the press won't ask
By: Chris Powell

Gold Resource Corporation Reports Preliminary Second Quarter Production of 5,806 Gold Ounces and 593,955 Silver Ounces Maintaining 2018 Annual Outlook
By: Gold Resource Corporation

Gold Resource Corporation Mina Gold Phase Two Drill Results and Gold Mesa Property Update
By: Gold Resource Corporation

Trump, Russia, Brexit and the Demand For Gold and Silver – GoldCore Video Interview
By: GoldCore

GoldSeek Radio: Dr. Stephen Leeb and Arch Crawford, and Chris Waltzek

The Debt Train Will Crash
By: John Mauldin

A Macro (Amigos) Update for Mid-Summer
By: Gary Tanashian

Student Debt Bubble Expands As Parents Do More Of The Borrowing
By: John Rubino


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Monday, 16 June 2014 | Print  | Disqus

Gold Today – The gold price closed at $1,276.90 on Friday up $3.10 in New York. In Asia and London the price rose another $5 ahead of the Fix, where it was set at $1,281 .75 up $8.75 and in the euro at €947.339 up €9.171, while the euro stood weaker at $1.3529. Ahead of the opening in New York the gold price was trading at $1,280.30 and in the euro at €946.28.


Silver Today – The silver price closed at $19.70 up 14 cents, in New York. Ahead of New York’s opening, silver was trading at $19.72.


Gold (very short-term)


Gold should move up to tackle the next level of overhead resistance, in New York today.


Silver (very short-term)


Silver should move up to tackle the next level of overhead resistance, in New York today.


Price Drivers

There were no sales or purchases from the SPDR gold ETF in the U.S. on Friday, but there were small purchases into the Gold Trust. The holdings of the gold ETFs continue to stand at 787.076 tonnes in the SPDR gold ETF but at 163.20 up 0.73 of a tonne, in the Gold Trust.


The gold and silver prices are ‘drifting higher’ a process that started last week. Once again the battle of $1,300 is coming up again. On the physical demand from, Indian demand has picked up, no doubt ahead of the potential easing of gold import restrictions in the Indian budget. We are seeing strongly rising demand from there even ahead of the coming budget at this unseasonal time of the year for gold.


With 20% of annual demand for gold coming from the Middle East last year, when the region was ‘relatively’ peaceful, the spreading sectarian war in the Middle East is spurring rising demand at individual level and at central bank level. The Iraqi central bank has increased its reserves to 90 tonnes in the last two months. Did they know something we didn’t? Ostensibly this was to boost the credibility of the local currency internationally. With its 3 million barrels a day oil production under threat, we can understand why the government feels it needs gold to give the currency international credibility. We expect this to continue, particularly because religious issues are now a top priority there, not politics. This makes a U.S. or international political solution unworkable until the religious issue is resolved. We can only see the religious issue worsening from now on. Gold has to be the beneficiary from all of this, because gold is trusted by enemies of all kinds, whereas confidence in [political] national currencies evaporates. With the U.S. having its vital interests in the oil of the region, some of those countries would not want to use the $, because of U.S.’ absolute control over the currency globally. We have already seen the U.S. control its use in the region. We forecast these issues will rise in importance from now on and impact gold, silver, currencies the oil price and oil supplies globally! [Avoid Govn’t confiscation; subscribe to and visit to protect yourself from penalties from holding your gold overseas when it is to be confiscated].


Silver – Silver is showing more pent-up strength now. []




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Monday, 16 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.