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

By: Gary Savage

5 Things Investors Should Know About China this New Year
By: Frank Holmes

Zinc One Reports Final High-Grade Zinc Results from Sampling Program at Bongara Zinc Mine Project, Peru; Update on Current Drill Program
By: Zinc One Resources Inc.

Bitcoin or British Pound ‘Pretty Much Failed’ As Currency?
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Fall Over 1% With Dow
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 2 20 2018
By: Ira Epstein

Silver's Key Resistance
By: Craig Hemke

Jack Chan's Weekly Precious Metals Update
By: Jack Chan

Why Now Is the Perfect Time to Be in Gold and Silver
By: Jeff Clark

Update On the Gold/Silver Ratio
By: Mike Maloney


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Tuesday, 16 September 2014 | Print  | Disqus

Gold Today – The gold price closed at $1,233.90 up $3.20 on Monday in New York. In Asia and London, gold prices recovered slightly to $1,235.80.  The gold price was Fixed at $1,238.75 up $4.00 and in the euro at €956.933 up €1.318 while the euro was slightly stronger at $1.2945. Ahead of New York’s opening, gold was trading at $1,238.60 and in the euro at €956.74.


Silver Today – The silver price closed in New York at $18.68 up 3 cents. Ahead of New York’s opening it was trading at $18.75.


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


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


Price Drivers

There were no sales or purchases to or from the SPDR gold ETF and none to or from the Gold Trust, on Monday. 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. 


The OECD has downgraded global growth in the light of the Middle East, Ukraine crisis. The U.S. growth expectations have been dropped to 2.1% from 2.5% the Eurozone to 0.8%.  We hear no mention of the shift of wealth to the east or of the inroads that computer technology advances are making in employment levels which are structurally very large. We believe that the halcyon days pre-2007 were peaks that will never be reached again in the U.S. or Eurozone. This is the ‘new normal’ that we must factor into the future. However, this is not at all bad for gold, as we point to the structural developments in the monetary world and to the gold markets.


It is clear that this shift of wealth and power to the east will lead to the Chinese Yuan being a major player in the world of foreign currencies. Just as we point to the damage the loss of the sole global reserve currency will have on the dollar, so the pricing of gold, like oil has been, to date primarily in the dollar. The gold world sees the dollar price of gold as the ‘real’ price against which all other currencies relate.


The date of the opening of the International market in Shanghai has been brought forward to Thursday 18th when we will see the price of gold made in the Chinese Yuan and eligible for purchase with offshore Yuan i.e., there will arise a need to purchase Yuan, before buying these gold contracts. This will mean selling other currencies to acquire Yuan. This is part of a much broader plan to internationalize not only the Chinese gold market, but the Yuan itself. In addition, the rise in the ‘pricing power’ of the Chinese gold markets will heavily undermine London and New York’s pricing power and lead to a more demand/supply price of physical gold, lowering the impact of traders and speculators on the short-term price of gold. In time, the Yuan price of gold will we feel, overtake the dollar price of gold, due to all these changes. More on this if you - Subscribe to & www.SilverForecaster.comto protect against confiscation and penalties -see .


Silver– The silver price is relies on the gold price so much that silver fundamentals don’t count -]


Kind Regards,


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


Global Gold Price (1 ounce)















Rs. 75,407.58


| Digg This Article
 -- Published: Tuesday, 16 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 - 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.