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: Friday, 18 July 2014 | Print  | Disqus 

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

Gold Today – The gold price closed at $1,319.60 up $21.10 on Thursday in New York. In Asia and early London, prices retreated to $1,312 ahead of London’s opening.  The gold price was Fixed at $1,310.25 up $7.50 and in the euro at €968.404 up €5.757, while the euro was slightly weaker at $1.3530. Ahead of New York’s opening, gold was trading at $1,311.30 and in the euro at €969.46.

 

Silver Today – The silver price closed in New York at $21.14 up 39 cents. Ahead of New York’s opening it was trading at $20.95.

 

Gold (very short-term) We expect gold to consolidate in New York today.

 

Silver (very short-term)  We expect silver to consolidate in New York today.

 

Price Drivers

There were sales of 2.694 tonnes of gold from the SPDR gold ETF, a repeat of the selling on Wednesday [from the same seller?] but none from the Gold Trust on Thursday. The holdings of the gold ETFs stand at 803.34 tonnes in the SPDR gold ETF and at 165.06 tonnes in the Gold Trust.  This selling was no a large amount relative to the purchases on Monday [8+ tonnes] and occurred when the massive short sellers on COMEX took fright and closed positions taking the gold price up $21.00. As you know we were expecting this to happen. [Subscribe www.GoldForecaster.com – ensure your gold will not be confiscated and you not penalized -see www.Stockbridgemgmt.com ].

 

This is an important lesson that needs to be learned by gold and silver investors. No matter how large the shorting on COMEX is, unless it is accompanied by significant sales of physical gold on physical markets, it will have only a temporary impact on prices, at best.

 

It did coincide with the shooting down of the Malaysian airline, an event that continues to shock the world. That shock reflects a gear-shift in investor’s attitudes to world events as they suddenly come so close to us all.  The watching from a safe ‘comfort zone’ has changed as this awful ‘collateral damage’ hit innocent people distant from the issues. It brings home the point that the dark future before the globe [we only comment on the monetary front as it impacts gold and silver] is coming closer. With gold and silver being real money in the darkest of times we see demand for them extending from individual investors to governments and institutions in the foreseeable future as uncertainty and instability rises.

However, of itself we did not see buyers enter the market because of the tragedy.

 

The technical picture remains positive for gold and silver. 

 

The euro appears to be stabilizing in the very short-term. We note though that the E.U. wants it lower but, if they follow the G7 guidelines, they won’t be seen in the forex markets making it go lower. The euro currently stands at $1.3529 almost unchanged on yesterday.

 

Silver– Silver recovered almost 2% a better performance than gold showing how robust investment demand for silver continues to be. [www.SilverForecaster.com]

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,177.30

Sf1,171.02

US

$1,311.10

$1,304.10

EU

€969.46

€964.00

India

Rs.79,085.55

Rs.78,487.26

 


| Digg This Article
 -- Published: Friday, 18 July 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.