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

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

AlphaZero for President
By: George Smith

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

Asian Metals Market Update: December-15-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver End Slightly Lower
By: Chris Mullen, Gold Seeker Report

Are You Ready For The Next Rally?
By: Craig Hemke

Long Term Patterns in Stocks, Gold and Crude
By: Gary Christenson

Exploration Update: Golden Arrow’s Pescado Project
By: Nicholas LePan, SilverSeek.com

GoldSeek Radio Nugget: Charles Hughes Smith and Chris Waltzek
By: radio.GoldSeek.com

Strap Yourself In - We Are About To See Some Big Moves In Metals
By: Avi Gilburt

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Wednesday, 25 June 2014 | Print  | Disqus 

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

Gold Today – The gold price closed at $1,319 up $1.50 on Tuesday in New York. In Asia prices pulled back to $1,312. In London, the Fix was set at $1,312.00 down $11.00 and in the euro at €964.422 down €7.315, while the euro stood weaker at $1.3604. Ahead of the opening in New York the gold price was trading at $1,313.70 and in the euro at €965.60.

 

Silver Today – The silver price closed at $20.92 up a up 4 cents, in New York. Ahead of New York’s opening, silver was trading at $20.85.

 

Gold (very short-term)

 

Gold should consolidate, in New York today.

 

Silver (very short-term)

 

We expect silver to consolidate, in New York today.

 

Price Drivers

There were no sales or purchases of gold into the SPDR gold ETF or the Gold Trust in the U.S. on Tuesday. The holdings of the gold ETFs stand at 785.016 tonnes in the SPDR gold ETF and at 163.20 tonnes, in the Gold Trust. 

 

The fall in the gold price in Asia and London, was not on physical sales. In thin trading the impact of dealer and speculator moves has a greater effect than in a busier market. We see it as an easily changed picture when volumes pick up. Dealers and speculators quickly turn back to moving gold in the opposite direction to the dollar. The euro has weakened by half a cent from its high, but this is not a significant move. We see the euro targeting somewhere around $1.20 eventually, reflecting the aim of the E.C.B. who want to see a much weaker euro. However, we do not expect gold to move with the euro, but as it has done of late to break away from that relationship and move higher in the euro when the euro does fall. In essence today’s move we see as the normal ebb and flow of a market.

 

Little has occurred in the last day to impact gold & silver prices. However, we cannot emphasis enough just what a ‘sea-change’ the Middle East conflagration has and will have on oil, gold and silver prices over time. What is clear already despite the positive press surrounding Kerry’s visit to the Middle East is that the U.S. has lost control of the situation there. Pleading with the Kurds to support Baghdad is unlikely to succeed as they has their own interests, which have been suppressed for so many decades, is an opportunity to secure their own state and control the oilfield in and around them. We doubt very much if they will give this up. Once ISIS has consolidated its hold on the North and West of Iraq, they will advance on the rest of the country. The resulting $140+ oil price will cause tremendous damage to economies world-wide. [Subscribe www.GoldForecaster.com - see www.Stockbridgemgmt.com to protect yourself from penalties from holding your gold overseas when it is to be confiscated].

 

Silver – Silver has risen over 10% since the change in trend and promises more! [www.SilverForecaster.com]

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,174.71

Sf1,182.22

US

$1,313.70

$1,324.10

EU

€965.60

€972.07

India

Rs.79,078.17

Rs.79,618.13

 


| Digg This Article
 -- Published: Wednesday, 25 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.