LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

 
Search

GoldSeek Web

 
Gold & Silver Market Morning: Nov-26-2014


 -- Published: Wednesday, 26 November 2014 | Print  | Disqus 

Gold Today – The gold price closed up at $1,200 in New York on Tuesday.  London took it down to $1,196 just ahead of the Fix. At that time it was trading in the euro at €960.41 down €6.53, while the euro stood slightly stronger at $1.2450.

 

Silver Today – The silver price closed in New York at $16.60. Ahead of New York’s opening was trading at $16.55.

 

Gold (very short-term)

The gold price will consolidate around $1.200 in New York, today.

 

Silver (very short-term)

Silver will consolidate alongside gold, in New York, today.

 

Price Drivers

In New York, there were no sales or purchases from or to the SPDR gold ETF or the Gold Trust yesterday. The holdings of the SPDR gold ETF were at 720.914 and at 160.00 tonnes in the Gold Trust. 

 

There is talk that the E.C.B. may consider buying gold as part of its program to spur inflation. Quite frankly, this does not make sense. We see Russia buying gold to boost the credibility of the Ruble. Yes, by issuing euros to buy gold would boost money supply and so inflation but it would be seen as a direct weakening of the euro were it not for the vast quantities of gold needed to have a real effect on inflation. Such quantities are not available. Further, the action would drive up gold prices, which would likely fall back once the buying stopped. In addition, such actions would endorse gold as money of last resort at the expense of the basic credibility of the euro.

 

At the pre-meeting meeting of O.P.E.C. no agreement on cuts in oil production were made. Today, we see oil prices falling further below $78 for Brent and $73 for West Texas. This lays the foundation for the meeting tomorrow. To us it is seen as a direct attack on U.S. oil production rises through ‘fracking’. Russia has said it can tolerate low prices for some time and other producers realize the future consequences of the structural change in the oil market and are fighting it. We, therefore, see oil prices holding these low levels until the battle is won.  While such low prices are acting as a mild stimulus for the consumer it is exposing the dollar market to an excess of dollars. Where will these go? They are going into equities and Treasuries and taking these markets to levels not justified by their fundamentals. We are now seeing a mercurial, volatile 2015 coming up.

 

The opposition party in France has joined the chorus on repatriation. Germany, the Netherlands, potentially Switzerland are also in the choir. This is not simply an emotional stance, but has several underlying merits. In our latest issue of the Gold Forecaster, we cover this issue in depth.[Get the bigger picture - Subscribe to www.GoldForecaster.com & www.SilverForecaster.comto protect against confiscation and penalties -see www.Stockbridgemgmt.com ] 

 

Silver– The silver price will follow gold.  www.SilverForecaster.com

 

Kind Regards,

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

 

Global Gold Price (1 ounce)

 

Today

A week ago

Franc

Sf1,154.68

Sf1,162.15

US

$1,196.00

$1,202.00

EU

€960.41

€966.59

India

Rs.73,966.62

Rs. 74,373.75

 


| Digg This Article
 -- Published: Wednesday, 26 November 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 - 2019



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


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.