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

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

Visit the Top Blockchain and Cryptocurrency Power Hubs of the World
By: Frank Holmes

Gold’s Upside Target
By: Przemyslaw Radomski, CFA

Dollar Crisis
By: Gary Savage

What Gold Needs to Do Now
By: Rick Ackerman

Year-end Rate Hike Once Again Proves To Be Launchpad For Gold Price
By: GoldCore

Asian Metals Market Update: December-14-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain About 1% and 2%
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Thursday, 8 January 2015 | Print  | Disqus 

Gold Today –New York closed at $1,212.30 down $6.60 as the euro continued to fall. In Asia the gold price slipped to $1,207.90 with the euro at $1.1807 ahead of London’s opening. The Fix saw the gold price set at $1,206.50 down $7.25 and in the euro, at €1,025.064 up €1.234 while the euro was another 0.85 of a cent weaker than yesterday at $1.1770. Ahead of New York’s opening gold was trading in London at $1,206.60 and in the euro at €1,024.80.

 

Silver Today – The silver price closed at $16.54 up 1 cent. Ahead of New York’s opening it was trading at $16.37.

 

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 2.988 of gold from the SPDR gold ETF, the same as yesterday and purchases of 2.39 tonnes into the Gold Trust yesterday. The holdings of the SPDR gold ETF are at 704.833 and at 162.29 tonnes in the Gold Trust.  This was a large purchase into the Gold Trust whereas the sale from the SPDR gold ETF appears to be from the same seller as yesterday, due to the shape of the sale. This is the first time we have seen such a contradiction between the two gold ETFs. In view of the changing trend in the gold price we would expect this sort of market contradiction.

 

Its official, the Eurozone has moved into deflation with a drop in the inflation rate to -0.2%. While the E.C.B. is going to pursue quantitative easing, we doubt that it will be successful in stimulating growth. Until governments make the needed reforms and support Draghi and the E.C.B. structural problems in the Eurozone will continue. This requires action by politicians. Unfortunately, politicians are not keen to solve problems, but are keen to solve crises as this route gains votes. So we will have to wait for a full blown crisis before we see a change in the Eurozone. The euro continues to tumble and so will oil prices. With the euro now at $1.1775 the fall is now brutal which is what Draghi wants. Will it reach $1.10? Unless we see central banks on both sides of the Atlantic intervene in the exchange rate soon, we will reach that level soon.

 

2015 is already proving a different world to 2014! The year has already seen two dramatic price shocks in the euro and in the oil price. We believe there are many more shocks to come this year, the year of consequences.

 

With the dollar index over 92, we expect to see the rate of climb slow according to the Technical picture, but with its interest rates set to climb and already so much higher than the Eurozone, will it? The rise in the gold price both in the dollar and against commodities has surprised many as perceived links to gold are proving not to be so, particularly the rise of gold alongside the dollar. But we expect this to continue. [Subscribe to www.GoldForecaster.com & www.SilverForecaster.com]

 

Silver– The silver price is trying to follow gold but as gold is showing such strength appears poised to perform stronger than gold. The days ahead may show this. www.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,230.55

Sf1,230.57

US

$1,206.60

$1,213.40

EU

€1.024.80

€1,024.61

India

Rs.75,623.05

Rs. 76,668.68

 


| Digg This Article
 -- Published: Thursday, 8 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.