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

Technical Scoop - Weekend Update October 15 2018
By: David Chapman

Gold Market Update - the 7-year bearmarket phase is over...
By: Clive Maund

Beach Time
By: Larry LaBorde

Don’t Follow Fake News Or Fake Analysts In Metals
By: Avi Gilburt

Consider This Your Final Warning About Gold, For Bulls And Bears Alike
By: Avi Gilburt

GoldSeek Radio: Joseph Grosso, Axel Merk and Brian McEwen, and Chris Waltzek

Fascism Perfect Antidote: The Gold Standard
By: Jim Willie CB

Red Hot China Mailbag
By: John Mauldin

Has “It” Finally Arrived?
By: Chris Martenson

Last Week Was Just A Taste Of The Coming Gold Short Squeeze
By: John Rubino


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Wednesday, 5 November 2014 | Print  | Disqus 

Gold Today – The gold price closed at $1,167.7-0 up 70 cents on Tuesday. It was then taken down overnight to $1,150 and London took it down to $1,145 ahead of the Fix.  The euro is slightly weaker this morning at $1.2489. The Fix was set $1,145.25 down $24.00 and in the euro at €917.301 down €16.61, while the euro stood weaker at $1.2485. The volumes of net gold traded were two sellers selling 40,000 ounces and one buyer buying 48,000 ounces before the pro-rata process kicked in.  Ahead of New York’s opening, gold was trading at $1,145.50 and in the euro at €917.43.


Silver Today – The silver price closed in New York at $16.03 down 13 cents. Ahead of New York’s opening it was trading at $15.33.


Gold (very short-term) Gold will continue to look for a bottom, in New York, today.


Silver (very short-term) Silver is likely wait for gold to find a bottom, in New York, today.


Price Drivers

In New York there were sellers of 2.391 tonnes of gold from the SPDR gold ETF and a sale of 0.40 tonnes from the Gold Trust on Tuesday. The holdings of the SPDR gold ETF were at 738.819 tonnes and in the Gold Trust at 160.42 tonnes. The fall in the gold price continues to be brutal but driven there by traders and speculators not large physical volumes.


It was not dollar strength that dropped the gold price overnight, but certainly the U.S. elections mid-term had investors standing back, leaving the market open to traders to dominate the price. The Technical picture continues to be negative.


With the Republicans now in power in both Houses the future of the U.S. government for the next two years portends more emasculation of policies or will it mean that Republican policies will get through? Somehow we cannot see the President bowing out from the job he was elected to do. It is likely we will see more political squabbling for the next two years at a time when the U.S. economy needs to be supported by government. We do not see the result as bad for the gold and silver price. Precious metals are more likely to follow the Technical picture and the dollar than they are to follow U.S. politics. But where U.S. politics could hurt the dollar is to repeat the drama last year of the Fiscal Cliff”? Certainly, the environment for a further credit rating downgrade of the U.S. will hurt the credibility of the dollar and also the rest of the monetary system.


Chinese demand did start to come in yesterday but not yet in force, still. As we said yesterday, “The demand from Asia has not come in yet, so whether we see more falls or a bounce is not dependent on traders, so much as it will on investors sitting on the sidelines, at the moment.” Indian demand is pausing ahead of the ‘marriage season’ at the end of this month. [Get the bigger picture - Subscribe to & www.SilverForecaster.comto protect against confiscation and penalties -see ] 


Silver– Silver prices have decided the way forward is down.


Kind Regards,


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


Global Gold Price (1 ounce)



A week ago












Rs. 71,800.57


| Digg This Article
 -- Published: Wednesday, 5 November 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.