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 Find Slight Gains on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 19 2018
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - October 19, 2018

Gold Is Becoming Cool Again
By: John Rubino

Inflection Point for Gold
By: David Brady, CFA

Gold-Stock Sentiment Shifting
By: Adam Hamilton, CPA

Gold’s Official Price is $42, and maybe that’s a Good Thing
By: JP Koning

GoldSeek Radio Nugget: Ralph Acampora and Chris Waltzek

Is Your Portfolio Ready for the Greatest Demographic Shift in History?
By: Marin Katusa

Is Bitcoin Ever A Buy-And-Hold?
By: Avi Gilburt


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Thursday, 6 November 2014 | Print  | Disqus 

Gold Today – The gold price closed at $1,142.40 down another $25.30 on Wednesday. It was then taken up overnight to $1,143.8 and was then Fixed at $1,144.50 down $0.75 and in the euro at €914.941 down €2.36, while the euro stood stronger at $1.2509. The volumes of net gold traded were two sellers selling 118,000 ounces and two buyers buying 112,000 ounces before the pro-rata process kicked in.  Ahead of New York’s opening, gold was trading at $1,145.40 and in the euro at €915.00.


Silver Today – The silver price closed in New York at $15.28 down 75 cents. Ahead of New York’s opening it was trading at $15.30.


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 3.019 tonnes of gold from the SPDR gold ETF buy none from the Gold Trust on Wednesday. The holdings of the SPDR gold ETF were at 735.8 tonnes and in the Gold Trust at 160.42 tonnes. In the absence of sufficient Asian demand such sales add to the impact traders and momentum sellers are having on the gold price.


The euro has stopped falling against the dollar for the time being at $1.2523 up from $1.2485, despite the degenerating economic news from Germany. This has caused the gold price to pause in its fall, at the moment. The Technical picture continues to be negative.


The Republicans have stated that they will not close government down again so as to avoid the ‘fiscal cliff’ and a potential credit rating downgrade again. Let’s hope that this will in fact be the case, but wait to see if it is.


Oil prices continue to fall in what is a global stimulus for the world’s economies. Saudi Arabia, in giving the U.S. and the world cheaper oil, as well as continuing its high production levels, is undermining U.S. oil production from ‘fracking’, through prices that continue to fall. It will take some time before this impacts U.S. oil production. In the average consumer’s pocket the fall in the oil price gives him over 1.5% extra disposable income. 


History shows an indirect link between the oil and the gold price. In 1971 the oil price was at $8 a barrel. It then rose to $35 a barrel while gold moved from $42 an ounce up to $160 at the same time. Gold then went on to rise much higher because of the impact on the monetary system, inflation and value of the dollar the oil price brought about. The current fall in the oil price implies deflation and a hardening dollar, but with the vast amount of excess dollars now in circulation globally the value of the dollar is not likely to continue to harden for too much longer. [Get the bigger picture - Subscribe to & www.SilverForecaster.comto protect against confiscation and penalties -see ] 


Silver– Silver remains heavily oversold.


Kind Regards,


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


Global Gold Price (1 ounce)



A week ago












Rs. 70,376.66


| Digg This Article
 -- Published: Thursday, 6 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.