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 Radio: John Embry and Charles Hughes Smith, and your host Chris Waltzek

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


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Friday, 26 September 2014 | Print  | Disqus

Gold Today – The gold price closed at $1,22.00 up $3.80 on Thursday in New York. In Asia and London, gold prices rose to $1,225.60 as the gold price broke away from the falling euro, which now stands at $1.2731.  The gold price was Fixed at $1,213.75 up $13.75 and in the euro at €953.382 up €2.777, while the euro was much weaker at $1.2731 and after a short Fix. Ahead of New York’s opening, gold was trading at $1,223.30 and in the euro at €959.98.


Silver Today – The silver price closed in New York at $17.52 down 18 cents. Ahead of New York’s opening it was trading at $17.62.


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


Silver (very short-term) Silver should consolidate, with a positive bias, in New York today.


Price Drivers

There were no sales or purchases from or to the SPDR gold ETF or from or to the Gold Trust, on Thursday. The holdings of the gold ETFs stand at 773.449 tonnes in the SPDR gold ETF and at 164.18 tonnes in the Gold Trust.  Equity markets in the U.S. are falling, but as you can see from zero sales from the SPDR gold ETF, this does not means that U.S. investors are moving into gold.


The gold price hit a level where Asian demand came through to snatch bargains in London, as we expected around $1,200. The gold price fell back to $1,208, but recovered quickly to $1,222 where it held overnight until London opened. This is an important move to us as there is no cogent reason why the gold price should fall with the euro. Yes, it is recognized as a hedge against the dollar, both ways, in the developed world, but this should not be reflected in day-to-day prices. It is becoming a hedge against all currencies and will be so in the future.

With the dominant factor in the gold market being Asian demand and supply we expect prices to reflect those market behaviors, as we said yesterday. This is rising, as they see such low prices and the season for gold is upon them.


Unlike the developed world, we see that gold has a very active role in the Chinese banking system in leasing and collateral down at company and individual levels. In the west its role is as an investment or important reserve asset. While the west may feel this archaic, we feel the Chinese are getting it right and in the future, in the west gold will take on a much more active role in cross border transactions.


Today marks the last day of the third Central Bank Gold Agreement and next week the beginning of the fourth one. In the statement from the signatories the big difference is that there are no more plans to sell gold. Essentially, their sales have been completed. They repeat that gold remains an important element of global monetary reserves. This Agreement will be reviewed after five years. So, no overhang of central bank gold sales over the gold price![Get the bigger picture - Subscribe to & – to protect against confiscation and penalties -see ]


Silver– The silver price has stopped falling too. -


Kind Regards,


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


Global Gold Price (1 ounce)















Rs. 74,672.94


| Digg This Article
 -- Published: Friday, 26 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.