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

Volatility Breeds Contempt
By: Michael Ballanger

Rocket Time For Gold
By: Stewart Thomson

A golden escape
By: Richard (Rick) Mills

Does Gold Like Acronyms? The Golden Story of SPX, CPI, and IMF
By: Arkadiusz Sieron

Gold Resource Corporation Reports Preliminary Third Quarter Production of 6,411 Gold Ounces and 321,590 Silver Ounces Maintaining 2018 Annual Outlook
By: Gold Resource Corporation

Of What Am I Now Certain?
By: Avi Gilburt

October Doesn't Disappoint: Volatility Is Back After a Tranquil Third Quarter
By: Frank Holmes

Lower Yields Are Bulls' Best Bet
By: Rick Ackerman

Poland Raises Gold Holdings to Record High in September – IMF
By: GoldCore

Asian Metals Market Update: Oct 16 2018
By: Chintan Karnani, Insignia Consultants


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Tuesday, 29 July 2014 | Print  | Disqus

Gold Today – The gold price closed at $1,305.10 down $2.30 on Monday in New York. In Asia and early London, prices rose to $1,310.  The gold price was Fixed at $1,307.50 up $2.50 and in the euro at €972.842 up €1.643, while the euro was slightly stronger at $1.3440. Ahead of New York’s opening, gold was trading at $1,309.00 and in the euro at €974.25.


Silver Today – The silver price closed in New York at $20.62 down 12 cents. Ahead of New York’s opening it was trading at $20.73.


Gold (very short-term) We expect gold to 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 sales or purchases to or from the SPDR gold ETF or from or into the Gold Trust on Monday. The holdings of the gold ETFs stand at 801.844 tonnes in the SPDR gold ETF and at 165.66 tonnes in the Gold Trust.  [Subscribe www.GoldForecaster.comensure your gold will not be confiscated and you not penalized -see ].


The dollar continues to have a stronger bias as Eurozone record low interest rates and stimuli are set to continue for a long time to come, while U.S. low interest rates and stimuli are set to fade away. In the U.S. nothing is more keenly awaited than a date when interest rates begin to rise. In addition, the E.C.B. wants a cheaper euro against the dollar.


Today sees the start of the 2-day Fed meeting and also the month-end process of rolling over of options into next month. This is a time when gold and silver prices are more likely to be volatile. On balance, we expect these prices to rise as strong support sits just below these prices and speculators retain high level short positions. Should upward pressure continue we expect such moves to precipitate short selling and higher prices. Nevertheless, sideways movements in the gold and silver prices are set to continue until a specific piece of news appears to galvanize these markets.


The euro is pausing at the moment at $1.3433 but we expect it to continue to decline. Gold remains strong in the euro and will continue to do so.


Today marks 100 years from the day that Archduke Ferdinand and his wife were assassinated and set off a chain of events that saw [as Churchill put it] the world went mad. Looking across global events we wonder whether it ever regained its sanity. Gold is often described as a ‘safe haven’, which is usually understood to be a haven against falling monetary values. But monetary values describe specifically, dropping values in so many other areas. Looking at the values that persisted 100-years ago and comparing them to today’s, on all fronts, tells us why gold can be a protection of values in today’s world. Long-term gold investors see this clearly.  Traders don’t look for that, just profits.


Silver– The silver price is now waiting for gold to give it direction.  []




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Tuesday, 29 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.