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

Silver: 2018 and Beyond
By: Gary Christenson

GoldSeek Radio Nugget: Bill Murphy and Chris Waltzek
By: radio.GoldSeek.com

Convert to Weekly Charts
By: Gary Savage

Bubbles Everywhere...
By: Harris Kupperman

Stocks Plunge on News of Nell's Death
By: Rick Ackerman

Russian Central Bank Buys Gold – 600,000 Ounces Or 18.7 Tons In January As Venezuela Launches ‘Petro Gold’
By: GoldCore

Gold Seeker Closing Report: Gold Ends Lower While Silver Edges Up
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 2 21 2018
By: Ira Epstein

Find The Sentence That Dooms Pension Funds (Don’t Worry, It’s Highlighted)
By: John Rubino

Miners’ Rally? What Rally? Watch Out for More Fake Moves!
By: Przemyslaw Radomski, CFA

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Friday, 2 January 2015 | Print  | Disqus 

Gold Today –New York closed at $1,182.60 on the last day of 2014 and the first trading day of 2015 saw the gold price stand at $1187.40 ahead of London’s opening. The Fix saw the gold price set at $1,184.25 down $15.00 and in the euro, at €983.351 down €3.991 while the euro was 1.23 cents weaker at $1.2043. Ahead of New York’s opening gold was trading in London at $1,183.10 and in the euro at €981.87.

 

Silver Today – The silver price was at $15.69 down 58 cents. Ahead of New York’s opening it was trading at $15.79.

 

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

There were sales of 1.792 tonnes from the SPDR gold ETF and sales of 0.55 of a tonne from the Gold Trust before the year’s end. In thin holiday trade, alongside the falling euro, traders knocked the gold price back to the $1,180 area as the euro began today a cent lower at $1.2051. While the holiday continues until next week, we expect the euro’s fall to dominate the gold prices, until real volumes return to the gold market. The holdings of the SPDR gold ETF are at 709.16 and at 161.18 tonnes in the Gold Trust.  [Subscribe to www.GoldForecaster.com & www.SilverForecaster.com]

 

We expect 2015 to be a year where currency dramas keep popping up as the dollar rises and the rest of the world’s currencies fall. The oil price collapse is benefitting all nations as well as the U.S. dollar as oil import costs fall to around half of last year’s levels. In most countries these costs make up a big proportion of imports. But because all non-oil producing countries are benefitting it is a common denominator so cancelling out the impact on most exchange rates. Attention therefore reverts back to interest rates, with the U.S. offering higher rates than the Eurozone, placing continual downward pressure on the euro and upward pressure on the dollar. This will continue to be the case throughout 2015.

 

In addition we do expect the Chinese Yuan ‘peg’ to the dollar to be lowered as the dollar rises. After all, China exports globally, not just to the U.S. More importantly we cannot see a case for the Yuan to see a higher exchange rate in the eyes of that government, no matter what other countries say.

 

The volatility we expect to see in exchange rates will create an unstable international monetary environment favoring gold going forward. Please bear in mind that the current monetary system is not the result of design but consequences. We do not believe it has the capacity to withstand the heavy pressures that lie ahead in 2015/16.

 

Silver– While the silver price is and will following gold it has become considerably more volatile as U.S. traders see more profit opportunities in silver than gold. This will continue until gold holds above $1,210, we feel. twww.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,179.71

Sf1,185.04

US

$1,197.80

$1,197.00

EU

€981.87

€985.56

India

Rs.74,594.46

Rs. 75,533.87

 


| Digg This Article
 -- Published: Friday, 2 January 2015 | 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.