Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

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

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

GoldSeek Radio Nugget: John Embry and Chris Waltzek
By: radio.GoldSeek.com

AlphaZero for President
By: George Smith

Ira Epstein's Metals Video 12 14 2017
By: Ira Epstein

Asian Metals Market Update: December-15-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver End Slightly Lower
By: Chris Mullen, Gold Seeker Report

Are You Ready For The Next Rally?
By: Craig Hemke

Long Term Patterns in Stocks, Gold and Crude
By: Gary Christenson

Exploration Update: Golden Arrow’s Pescado Project
By: Nicholas LePan, SilverSeek.com

GoldSeek Radio Nugget: Charles Hughes Smith and Chris Waltzek
By: radio.GoldSeek.com

Strap Yourself In - We Are About To See Some Big Moves In Metals
By: Avi Gilburt

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Friday, 12 December 2014 | Print  | Disqus 

Gold Today –New York closed at $1,225.10 down $2.30 before Asia took it down to $1,220. The euro fell over half a cent to $1.2395.  In London’s the gold Fixing was set at $1,223.50 up $4.00 and in the euro, at €984.31 up €3.374 while the euro was unchanged at $1.2430. Ahead of New York’s opening gold was trading in London at $1,225.00 and in the euro at €982.79.

 

Silver Today – The silver price closed at $17.05 down 3 cents, in New York. Ahead of New York’s opening it was trading at $17.15.

 

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

 

Silver (very short-term) The silver price will consolidate with a positive bias, in New York today.

 

Price Drivers

There were purchases of 0.949 tonnes of gold into the SPDR gold ETF and sales of 0.27 of a tonnes of gold from the Gold Trust on Thursday. The holdings of the SPDR gold ETF are at 725.748 and at 162.10 tonnes in the Gold Trust.   [Subscribe to www.GoldForecaster.com & www.SilverForecaster.com]

 

The gold market remains in consolidation mode with Asian investors waiting to see if they can buy again closer to $1,200 of if they must pay up at these levels. U.S. investors are waiting to see if prices are going to rise again in which case they must continue short covering. If prices continue to hold around these levels both will then react. As the trading pattern in this consolidation narrows, we are moving to a point where we will see a strong reaction. Friday is always the busiest day for gold as investors contemplate that unless they act today they must hold for three days before they can deal again.

 

One issue now off the table is the potential closure of government in the U.S., which last time caused a credit downgrade of the U.S. With the government voting to finance government until September 2015, other issue now present themselves in the gold market.

 

We do not now believe that the dollar will climb much further despite the Technical picture saying it will. It should in the light of the Eurozone governments disagreeing on the way forward still. The E.U. government structure is now dysfunctional leaving Draghi and the E.C.B. out on a limb. He will do his best to start Q.E. there but without overall government support he risks damaging the euro, fundamentally, without producing true economic growth. This situation reinforces our view that deflation is imminent in the E.U. with the euro losing a significant amount of credibility.

 

Meanwhile oil is testing the $60 level and looks like there’s a big fall still coming!

 

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

 

Kind Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,180.47

Sf1,179.06

US

$1,225.00

$1,221.00

EU

€982.79

€981.24

India

Rs.76,378.75

Rs. 76,135.46

 


| Digg This Article
 -- Published: Friday, 12 December 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 - 2017



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

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