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 Almost 1% and 2% on the Week
By: Chris Mullen, Gold Seeker Report

COT Gold, Silver and US Dollar Index Report - July 20, 2018

The Deep State, Trump, and the World
By: Clive Maund

Gold Investment Wanes
By: Adam Hamilton, CPA

The Most Important Charts for Your Gold Stocks Right Now
By: Marin Katusa

The road to war: China’s kryptonite - Part 2
By: Richard (Rick) Mills

GoldSeek Radio Nugget: Bill Murphy and Chris Waltzek

NEVER BEFORE SEEN CHARTS: Gold Mining Industry’s Costs Are Higher Than Market Realizes
By: Steve St. Angelo

Powell Sinks Gold, Again
By: Arkadiusz Sieron

Weekly Digest – News, Market Updates and Videos You May Have Missed
By: GoldCore


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Friday, 5 September 2014 | Print  | Disqus

Gold Today – The gold price closed at $1,262.90 down $7.10 on Thursday in New York. In Asia and London, gold prices were slightly higher at $1,264.  The gold price was Fixed at $1,264.00 down $7.00 and in the euro at €975.685 up €8.998 while the euro was very weak [2 cents] at $1.2955. Ahead of New York’s opening, gold was trading at $1,264.90 and in the euro at €976.26.


Silver Today – The silver price closed in New York at $19.08 down 14 cents. Ahead of New York’s opening it was trading at $19.10.


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 4.76 tonnes of gold from the SPDR gold ETF and 0.04 of a tonne from the Gold Trust, on Thursday. The holdings of the gold ETFs stand at 785.725 tonnes in the SPDR gold ETF and at 165.23 tonnes in the Gold Trust.  The performance of the gold price in the euro was good, jumping 10 as the euro plummeted after the E.C.B.’s statements, rate cuts and the start of quantitative easing. The $5 drop in the U.S. gold price occurred late in the day and was another arbitrage action. What was encouraging was the fact that the gold price saw physical demand come in at these levels. Subscribe to www.GoldForecaster.comso your gold will not be confiscated and you not penalized -see .


The European Central Bank cut three key interest rates yesterday by 0.1% percentage point. The refinancing rate was lowered to 0.05%, the marginal lending rate to 0.3% and the rate on the deposit facility to negative 0.2%. Draghi stresses that , “We have now reached the lower bound.” Markets are factoring in that this tool for stimulation is now exhausted. His surprise actions were not expected by markets until the year end. The signal now sent to markets is that the euro exchange rate is set on the downward path because it will be forced there in a controlled fall. But the markets immediately knocked 2cents off the exchange rate, before the fall halted.


The new sanctions to be imposed on Russia will not be sufficient to change its policy on Ukraine. But the fact that they continue to target financial markets is a two-edged sword. In Russia these will be seen as aggressive actions and, we expect, will produce retaliation that will hurt the Eurozone more. The escalation of the crisis is now expected. With $100 billion of debt to be re-financed in the next 6 months, we will not be surprised if Russia imposes Capital Controls to prevent capital from exiting. After all, their access to western capital markets is being shut off, so little is to be gained by letting this capital flow out. More importantly Eastern nations are seeing a rising politicization or the dollar which darkens the dollar’s future.


Silver– The silver price not depart from gold’s path, today.]




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


Global Gold Price (1 ounce)















Rs. 76,951.26


| Digg This Article
 -- Published: Friday, 5 September 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.