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

Trump vs the Fed: who wins?
By: Richard (Rick) Mills

Is the Buyer’s Market for Silver Coming to an End?
By: Stefan Gleason

Gold Price Analysis: Closer To A Significant Monetary Event
By: Hubert Moolman

Merk Research - U.S. Business Cycle
By: Merk Research

No One Ever Said Brexit Was Going to Be Easy
By: Frank Holmes

VXX Implies a Stunning Decline Lies Just Ahead
By: Rick Ackerman

Gold Krugerrand Coin Worth $1,200 Donated To Charity Again
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Close Mixed with Stocks
By: Chris Mullen, Gold Seeker Report

The Powers-That-Be Were Everywhere Yesterday
By: Ed Steer

Gold and Silver Price Goals For Year End
By: Craig Hemke


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Thursday, 4 December 2014 | Print  | Disqus 

Gold Today –New York closed at $1,210.50 up $12.20 before Asia dropped the price to $1,206. In London’s the gold Fixing was set at $1,204.00 $0.75 and in the euro at €977.590 up €2.351 while the euro was weaker at $1.2316. There was one seller at the Fix selling 26,000 ounces and two buyers buying 20,000 ounces. Ahead of New York’s opening gold was trading in London at $1,203.10 and in the euro at €976.50.


Silver Today – The silver price closed at $16.42 down 3 cents, in New York. Ahead of New York’s opening it was trading at $16.45.


Gold (very short-term) The gold price will consolidate in New York, today.


Silver (very short-term) The silver price will consolidate in New York today.


Price Drivers

Yesterday was a day when the precious metal markets saw rising physical Indian demand, as we expected. Chinese demand continues robust making Asia still the tidal effect in the gold market. On the plus side, the Technical picture for precious metals has improved and will set the tone for the way forward.


The news that should be watched carefully is the euro. It fell back to its last level of support at $1.23 and will test the Fed & Treasury’s desire not to see a strong dollar. Technically the dollar can go up to 20% stronger as we have forecast previously, to $1.10 to $1.20. Precious metal investors can be encouraged by the fact that gold is moving on physical demand and is not currently reacting to the lower euro. To us this signals the diminishing influence of traders and speculators over the gold price. These have supported the gold price as they have closed short positions in the last couple of days. We expect this to continue, if the gold price holds or rises. But we believe that fundamental physical demand is the cause of this. For instance, we do not accept that the rally in oil prices caused any strength in the gold market. It is moving independently now.


Today sees the E.U. decide on Q.E. We believe this will not produce growth there, unless it is felt at consumer level. We expect a recession in the E.U. in 2015 against a rising backdrop of deflation. This will exacerbate inflation as more money in a shrinking economy accelerates inflation. This meeting may see support for the euro broken.


On the oil front Saudi Arabia has stated that it could see oil prices stabilize at $60 a barrel. We believe they have the pricing power to ensure that happens. It has to stay at that level to hurt U.S. ‘fracking’ oil producers. Let’s see?


There were no purchases or sales from or into the SPDR gold ETF but there was a purchase of 1,02 tonnes into the Gold Trust yesterday. The holdings of the SPDR gold ETF are at 720.o18 and at 162.79 tonnes in the Gold Trust now.   [Subscribe to &]


Silver– The silver price is waiting for gold to lead the way.


Kind Regards,


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


Global Gold Price (1 ounce)















Rs. 74,156.80


| Digg This Article
 -- Published: Thursday, 4 December 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 - 2019 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, Gold Seek LLC, its affiliates or advertisers., 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, Gold Seek LLC, is strictly prohibited. In no event shall, 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.