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

Abraplata Resource Corp. (TSX-V: ABRA): Further Drilling Expands Known Mineralization, On the Path to Delivering a Construction Ready Project in Argentina
By: Nicholas LePan,

Chairman for People and Arrogant Eurocrat
By: Arkadiusz Sieron

Gold Resource Corporation Commences Isabella Pearl Gold Project Construction, Mineral County, Nevada
By: Gold Resource Corporation

Northern Vertex Announces Moss Mine Continues To Exceed Feasibility Expectations During Ramp Up To Commercial Production
By: Northern Vertex Mining Corp.

Own A “Bit Of Gold” As We Are Moving Ever Closer To A Trump Trade War
By: GoldCore

Take the Long-Term View in a Late-Cycle Market
By: Frank Holmes

Failed States, Part 1: Hopeless European Millennials And The Populist Takeover
By: John Rubino

Tariff Fears Aren't All That's Troubling Stocks
By: Rick Ackerman

Asian Metals Market Update: June 19 2018
By: Chintan Karnani, Insignia Consultants

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


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Thursday, 10 July 2014 | Print  | Disqus

Gold Today – The gold price closed at $1,327.70 up $8.00 on Wednesday in New York. In Asia, prices rose to $1,329.00 ahead of the London’ opening. London took the gold price up to $1,343.25 at the Fix up $20.75 and in the euro at €985.221 up €13.509, while the euro was stronger at $1.3634. Ahead of New York’s opening, gold was trading at $1,342.70 and in the euro at €986.19.


Silver Today – The silver price closed in New York at $21.11 up 7 cents. Ahead of New York’s opening it was trading at $21.50.


Gold (very short-term) We expect gold to pause before rising further in New York today.


Silver (very short-term) We expect silver to move up with gold in New York today.


Price Drivers

There were no purchases or sales of gold into the SPDR gold ETF or the Gold Trust on Wednesday. The holdings of the gold ETFs stand at 800.284 tonnes in the SPDR gold ETF and at 164.28 tonnes in the Gold Trust. 


Gold has broken through overhead resistance, but may take in the view from this new height before moving higher. The Technical picture for gold continues to be positive alongside its global fundamentals. It is important to note that the gold price broke through resistance at the Fixing in London, where the bulk of the world’s [not contracted] gold is dealt. This implies physical demand. This did not come from the U.S. It could be that the market was attempting to pre-empt the easing of import restrictions in India. However, we need to stand back and see the ‘big’ picture. This tells us that for the last year, gold has been consolidation in the $1,200 to $1,300 area taking all available physical gold off the market over time. Supply has dropped back as the supply from the U.S. has dried up taking the gold price to between $1,300 and $1,330 where a strong base has been built. This was after a reverse ‘head-and-shoulders’ formation was built around $1,200. When a market is drained of supplies with pent-up demand waiting at the point just below this strong base, then it does not take an exuberant market to make it sensitive and keen to move higher. Demand now has to pay higher prices to get the gold it wants, even small amounts because supplies are just not there, at these prices. If demand gets any bigger, then prices rise faster. Please note this is not speculative or excited demand currently, but the sheer weight of a flowing, steady, long-term current of rising demand into gold. Call it a ‘turning of the tide’.


With India’s budget being given to their Parliament today, at the time of writing nothing had been heard on gold import duties and gold import restrictions. It appears that this is now no longer necessary for prices to rise. [Subscribe – ensure your gold will not be confiscated and you not penalized -see ].


Silver– Silver will feel the ‘shunt effect’ from gold soon. []




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Thursday, 10 July 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.