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

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

Visit the Top Blockchain and Cryptocurrency Power Hubs of the World
By: Frank Holmes

Gold’s Upside Target
By: Przemyslaw Radomski, CFA

Dollar Crisis
By: Gary Savage

What Gold Needs to Do Now
By: Rick Ackerman

Year-end Rate Hike Once Again Proves To Be Launchpad For Gold Price
By: GoldCore

Asian Metals Market Update: December-14-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain About 1% and 2%
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Monday, 30 June 2014 | Print  | Disqus 

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

Gold Today – The gold price closed at $1,316.10, down $0.10 on Friday in New York. In Asia prices fell to $1,313.40. In London, the Fix was set at $1,313.00 down $2.25 and in the euro at €961.623 down €4,691, while the euro stood slightly stronger at $1.3654. Ahead of the opening in New York the gold price was trading at $1,313.00 and in the euro at €961.76.

 

Silver Today – The silver price closed at $20.99 down 9 cents, in New York. Ahead of New York’s opening, silver was trading at $20.83.

 

Gold (very short-term)

 

Gold should consolidate with a positive bias, in New York today.

 

Silver (very short-term)

 

We expect silver to consolidate with a positive bias, in New York today.

 

Price Drivers

There were no purchases of gold into the SPDR gold ETF or into the Gold Trust in the U.S. on Friday. The holdings of the gold ETFs stand at 785.016 tonnes in the SPDR gold ETF and at 163.62 tonnes, in the Gold Trust. 

 

The Iraq nation is disintegrating into three different nations and the first was announced over the weekend, the ISIS Caliphate. The border of Iraq and Syria on the Western side, have been erased. This set the stage for a polarization of the Islamic war that has seen a gear shift in intensity, with oil to become a weapon of war soon.

 

As part of the punishment of BNP Parisbas, the bank will be prevented from clearing U.S. dollars in its transactions, which will particularly affect oil transactions, normally around a quarter of most non-oil-producing nations imports. We see this as a huge incentive for nations to remove this vulnerability to U.S. authorities. If we are right and Yuan convertibility likely within a year or so, we have no doubt that banks and central banks will be keen to lessen dollar reserves in favor of Yuan reserves and find a way to pay for oil by-passing the dollar where possible. Little could be more gold positive!

 

We mentioned the increased vulnerability of economies as a result of lackluster economic performance. The central bank of central banks, The Bank for International Settlements, has now warned of the “false sense of security record low interest rates are causing”. Tie these two factors together and you find, the developed world in particular, that if we extrapolate the global economic threats and set them against this backdrop, we see a backdrop where monetary crises find an easy breeding ground. We explain more on the above events in our next issue of the newsletters [see below]. [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 is slightly weaker than gold but should change for the better later in the week. [www.SilverForecaster.com]

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,168.90

Sf1,175.60

US

$1,313.00

$1,315.80

EU

€961.76

€966.47

India

Rs.78,807.57

Rs.79,112.48

 


| Digg This Article
 -- Published: Monday, 30 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.