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.com Radio: John Embry and Charles Hughes Smith, and your host Chris Waltzek
By: radio.GoldSeek.com

Amid Bad Fundamentals, Gold Sector Rally May Have Begun
By: Gary Tanashian

Bitcoin Proves You Cannot Have Your Digital Cake and Eat it Too
By: Nathan McDonald

Relief Rally in Gold Mining Stocks
By: Jordan Roy-Byrne CMT, MFTA

The Morgan Report's Weekly Perspective
By: David Morgan

Outlook for gold – 2018
By: Alasdair Macleod

Stephen Poloz Right To Be Worried
By: Peter Diekmeyer

The Yield Curve And The Boom-Bust Cycle
By: Steven Saville

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

Ira Epstein's Metals Video 12 15 2017
By: Ira Epstein

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Monday, 15 September 2014 | Print  | Disqus 

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

Gold Today – The gold price closed at $1,230.70 down $19.30 on Friday in New York. In Asia and London, gold prices recovered slightly to $1,234.40.  The gold price was Fixed at $1,234.75 down $12.25 and in the euro at €955.615 down €8.585 while the euro was weaker at $1.2921. Ahead of New York’s opening, gold was trading at $1,235.40 and in the euro at €955.90.

 

Silver Today – The silver price closed in New York at $18.65 down 33 cents. Ahead of New York’s opening it was trading at $18.66.

 

Gold (very short-term) We expect gold to try to consolidate with a weaker bias, in New York today.

 

Silver (very short-term) We expect silver to try to consolidate with a weaker bias, in New York today.

 

Price Drivers

There were sales of 0.312 of gold from the SPDR gold ETF and sales of 0.51 of a tonnes from the Gold Trust, on Friday. The holdings of the gold ETFs stand at 788.404 tonnes in the SPDR gold ETF and at 164.72 tonnes in the Gold Trust. 

 

We must correct an error we made last week and that is the launching of the international gold market in Shanghai will not take place on the 18th September but on the 29th September. We are on the opinion that this exchange is the start of a process that may be short, whereby China’s gold prices reflect the gold price far more than the London or New York markets do, currently.

 

Standing back and looking at the situation, we see the leading world nation buyer of gold taking second place to the developed world prices. The structure of the gold market in particular in London has, in the past, meant that the world’s gold supply has been channeled through London, where the very highest of standards to gold, apply. With such a majority of refiners in Switzerland it is now clear that the majority of refined gold bullion passes through that country as the 1 kg bar is increasingly being produced there destined for Asia. With China opening up gold importing to sufficient number of bullion banks to channel gold directly to Shanghai, the supply through London is falling, so the ability of London to reflect a price that reflects the bulk of global demand/supply is diminishing, while China’s gold demand growth may well be making large inroads into that ability. If global gold suppliers see that happening they will be inclined to sell their gold in Shanghai rather than in London. Likewise to get the best price, sellers [through their banks] will sell in Shanghai too. More on this if you - Subscribe to www.GoldForecaster.com & www.SilverForecaster.comto protect against confiscation and penalties -see www.Stockbridgemgmt.com.

 

Silver– The silver price took flight as support buckled. It is now waiting for gold to give direction, once more. www.SilverForecaster.com]

 

Kind Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,156.58

Sf1,162.60

US

$1,235.40

$1,240.90

EU

€955.90

€960.67

India

Rs.75,407.58

Rs. 75,502.56

 


| Digg This Article
 -- Published: Monday, 15 September 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.