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: Monday, 21 July 2014 | Print  | Disqus 

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

Gold Today – The gold price closed at $1,310.50 down $9.10 on Friday in New York. In Asia and early London, prices rose to $1,315.  The gold price was Fixed at $1,312.75 up $2.50 and in the euro at €970.754 up €2.35, while the euro was slightly weaker at $1.3523. Ahead of New York’s opening, gold was trading at $1,315.10 and in the euro at €972.20.

 

Silver Today – The silver price closed in New York at $20.85 down 29 cents. Ahead of New York’s opening it was trading at $20.97.

 

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

 

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

 

Price Drivers

There were purchases of 1.796 tonnes of gold into the SPDR gold ETF, an encouragement to further short covering on Friday, but none from the Gold Trust. The holdings of the gold ETFs stand at 805.136 tonnes in the SPDR gold ETF and at 165.06 tonnes in the Gold Trust.  [Subscribe www.GoldForecaster.com – ensure your gold will not be confiscated and you not penalized -see www.Stockbridgemgmt.com ].

 

Sometimes, developed world investors are puzzled that demand out of Asia can be robust and yet not lead to rising prices. This is because of the entirely different psyche of Asian buyers to developed world buyers. In the developed world markets, the focus is entirely on the short–term and short-term profits. Positions are held for the long term only when long-term profits are expected. The bulk of market players follow this thinking because they are measured on performance. Sadly it shifts the focus from the investment to the individual or institution managing funds, often to the detriment of long-term performance.  Consequently, such buyers only buy when they believe a rise in prices is imminent.

 

Asian buyers, on the other hand, trust gold and silver as long-term investments and not for short-term gains, so they buy when they feel the price has fallen too much, wanting to get in as low as possible. They have full confidence in the long-term and rarely sell for profit alone. So their buying is a persistent and on-going. They don’t chase prices because they don’t look for short-term profits. They want a secure financial future that they feel is in an investment that will always win out long-term. Since 1971 they have been overwhelmingly right.

The technical picture remains positive for gold and silver. 

 

While world events such as the Gaza and Ukraine conflicts have filled the news over the weekend, we do not believe they have been the cause of buying and selling of gold and silver. The biggest short-term reason for the rise in prices of gold and silver has been the massive attempts to short the market on COMEX and the subsequent short-covering. In the last week we have seen U.S. physical gold buying rise consistent with our view that U.S. perceptions of the gold and silver prices have changed to the upside. We expect this to continue.

 

Silver– Silver demand from industry and from investment is robust. The investment side of silver continues to reflect the remarkable performance it showed last year. Hence we expect silver to continue moving as a monetary metal with gold prices. [www.SilverForecaster.com]

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,180.83

Sf1,177.30

US

$1,315.10

$1,311.10

EU

€972.20

€969.46

India

Rs.79,261.08

Rs.79,085.55

 


| Digg This Article
 -- Published: Monday, 21 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.