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

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Roughly 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 16 2018
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - March 16, 2018

“Bankruptcy 1995” Revisited
By: James Turk

The egregious errors of static statistics
By: Alasdair Macleod

Gold Miners’ Q4’17 Fundamentals
By: Adam Hamilton, CPA

The Race to Repatriate Gold Reserves Accelerates
By: Nathan McDonald

Is the Economic Summer Coming?
By: Arkadiusz Sieron

Triggers And March Trigger Impending
By: Deepcaster

GoldSeek Radio Nugget: Gerald Celente and Chris Waltzek


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Tuesday, 5 August 2014 | Print  | Disqus 

Gold Today – The gold price closed at $1,293.30 the same as Friday in New York. In Asia and early London, prices slipped to $1,291 as the euro fell back to $1.3394 from $1.3424.  The gold price was Fixed at $1,292.75 down $0.75 and in the euro at €965.027 up €1.454, while the euro was weaker at $1.3406. Ahead of New York’s opening, gold was trading at $1,292.50 and in the euro at €965.07.


Silver Today – The silver price closed in New York at $20.34 also unchanged. Ahead of New York’s opening it was trading at $20.23.


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


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


Price Drivers

There were sales of 1.796 tonnes of gold from the SPDR gold ETF but there was a small sale from the Gold Trust of 0.04 of a tonne on Monday. The holdings of the gold ETFs stand at 800.048 tonnes in the SPDR gold ETF and at 165.93 tonnes, in the Gold Trust.  [Subscribe www.GoldForecaster.comensure your gold will not be confiscated and you not penalized -see ].


Now that the E.U., through Portugal, has taken a very different route to resuscitating one of the leading banks in Portugal we see the market has accepted this way as it hits only shareholders and junior creditors. In the future it could well hit senior creditors, but taxpayers and depositors have been left untouched.  The decision shielding some creditors spurred a rally in bank stocks and Portuguese assets yesterday as it demonstrated authorities were able to quarantine a bank without causing market tensions that have held the E.U. on the edge of a crisis since 2009. This is a far fairer approach than forcing losses on unsecured depositors [who never thought of themselves as creditors, but as ‘allocated owners’ of the money they deposited rather like gold owners of ‘allocated’ gold]. This is a critical change of rules from the days of Cyprus’ crisis!  It seems the E.U. has been sensitized to the ‘big’ picture rather than a myopic accountant-like view. If this is indeed the way forward in the E.U. it will bring some confidence back into markets.


Global problems have never been quite so threatening on the economic, oil and general stability fronts since the last World War, but markets continue to ignore them. It seems threats to stability and uncertainty have to be very specific and the impact definable before they react. This makes for sideways movements then precipitous falls or rises, rather than gentle slopes in market price movements. This is part of the ‘new normal’.


Certainly, this is moving the gold and silver markets to that pattern in the future. Hence, we do expect the Technical picture to be increasingly more difficult to read going forward. For the precious metal trader this takes his risks several notches higher. For the longer term investor, his analysis has to be in depth and global for him to get the full benefit from his investments.


Silver– Silver faces the same change in approach as gold.   []




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


Global Gold Price (1 ounce)

















| Digg This Article
 -- Published: Tuesday, 5 August 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 - 2017 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.