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

Gold Seeker Closing Report: Gold Gains While Stocks Drop
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 19 2018
By: Ira Epstein

GoldSeek Radio: Gerald Celente and Wolf Richter, and Chris Waltzek

SWOT Analysis: Tightened Supplies Could Be Good for Copper
By: Frank Holmes

Technical Scoop - Weekend Update Mar 19
By: David Chapman

Larry Kudlow Toes Wall Street’s Anti-Gold Company Line
By: Clint Siegner

The Wealth Machine That Rising Interest Rates Create And The Conflict With The National Debt (Part 2)
By: Daniel R. Amerman, CFA

2018 Reversal Dates for Gold, Silver and Gold Stocks
By: Przemyslaw Radomski, CFA

Standing Ready to Lease Gold
By: Keith Weiner

Is The U.S. Economy Really Growing?
By: Peter Cook, CFA


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Friday, 9 January 2015 | Print  | Disqus 

Gold Today –New York closed at $1,207.30 down $5.00 as the euro stabilized. In Asia the gold price rose to $1,212 with the euro at $1.1814 ahead of London’s opening. The Fix saw the gold price set at $1,211.25 up $4.75 and in the euro, at €1,025.093 64 up €0.029 while the euro was stronger by 0.46 of a cent than yesterday at $1.1816. Ahead of New York’s opening gold was trading in London at $1,211.50 and in the euro at €1,025.35.


Silver Today – The silver price closed at $16.31 down 23 cents. Ahead of New York’s opening it was trading at $16.27.


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 no sales or purchases to or from the SPDR gold ETF or the Gold Trust yesterday. The holdings of the SPDR gold ETF are at 704.833 and at 162.29 tonnes in the Gold Trust. 


Today the world is waiting for the employment numbers out of the U.S. which are expected at around 240,000, which is discounted in the market. Will this affect the gold price? With Asian demand getting used to these prices and paying them we may well see a dip briefly in the gold price as speculators and traders try their luck and eyes turn back to the euro to see if it falls further, but we expect gold to hold above, or return to, over $1,200 thereafter.


The Technical picture is now positive for gold and this will pull silver up too.


The U.S. economy is recovering so, will interest rates start rising after the Fed’s second meeting this year? We expect that they will err on the side of delay rather than on moving them up too early. The U.S. economy needs to be so robust that economic growth will ignore rate rises. We are not there yet. But U.S. gold investors will not use this as a basis for avoiding gold. When they return to gold it will be based on the Technical picture and when they see equities and bonds fall as a result of rate hikes. We consider them absent from the gold market at present, leaving Asia and the Middle East to drive the gold price higher. Timing will be everything!


The euro is now marking time but should recommence its fall shortly. The break away from the gold price that now seems to have been established has shaken many investors’ perceptions of gold’s behavior. Investors should understand the reasons why, if they are to understand the way forward for gold and silver.  [Subscribe to &]


There is a positive calm in global markets right now that can be shaken at any moments by a market or event driven shock. There are many potential shocks out there that will disturb this calm. Again, the timing will be critical and unforeseeable.


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.




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


Global Gold Price (1 ounce)















Rs. 76,623.05


| Digg This Article
 -- Published: Friday, 9 January 2015 | 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 - 2017 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, its affiliates or advertisers. 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, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.