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.com Radio: John Embry and Charles Hughes Smith, and your host Chris Waltzek
By: radio.GoldSeek.com

Amid Bad Fundamentals, Gold Sector Rally May Have Begun
By: Gary Tanashian

Bitcoin Proves You Cannot Have Your Digital Cake and Eat it Too
By: Nathan McDonald

Relief Rally in Gold Mining Stocks
By: Jordan Roy-Byrne CMT, MFTA

The Morgan Report's Weekly Perspective
By: David Morgan

Outlook for gold – 2018
By: Alasdair Macleod

Stephen Poloz Right To Be Worried
By: Peter Diekmeyer

The Yield Curve And The Boom-Bust Cycle
By: Steven Saville

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Roughly 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 12 15 2017
By: Ira Epstein

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Monday, 19 January 2015 | Print  | Disqus 

Gold Today –New York closed at $1,275 up $16.50 as the euro continued to slide. In Asia and early London the gold price held that level with the euro 0.75 cents down at $1.1562. The Fix saw the gold price set at $1,275.50 up $17.25 and in the euro, at €1,099.853 up €17.49, while the euro was 1/4 of a cent weaker at $1.1597. Ahead of New York’s opening gold was trading in London at $1,277.00 and in the euro at €1,101.15.

 

Silver Today – The silver price closed at $17.69, 83 cents higher. Ahead of New York’s opening it was trading at $17.68.

 

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 13.328 tonnes of gold into the SPDR gold ETF but no change in the Gold Trust on Friday. The holdings of the SPDR gold ETF are at 730.382 and at 163.62 tonnes in the Gold Trust.  The purchases of gold into the SPDR gold ETF are substantial signaling a change in attitude in the minds of U.S. investors. [Subscribe to www.GoldForecaster.com & www.SilverForecaster.com].

 

Saudi Arabia has made it clear that oil prices may remain los for years and would like to see oil prices ‘as low as possible. Hence oil prices will continue to fall as long as there is an excess supply. Because the developed world requires profits whereas national oil producer do not need profits, but simply income from oil, the developed oil producers will reduce supply before others do. This means such oil producers exiting the market, not simply postponing production. So expect lower oil prices for years to come. This is positive for consumers and for non-oil producing nation’s Balance of Payments but not for developed world oil companies. It will cause a postponement of interest rate rises until it translates into robust economic growth, which may take a long time still. But it will not remove the currency crises we are starting to experience now.

 

As we said last week, the Swiss Franc drama is the start of more monetary structural maladies in the monetary world. We should see a manifestation of the symptoms of these this week when the E.C.B. announces its plans for its own version of QE. But few believe such policies will resuscitate growth in the E.U. This is a job for the governments and the E.U. Commission, whose efforts, so far, are failing, due to a hormone deficiency.

 

The brutality of the reaction to the removal of the ‘peg’ against the euro may not be as severe when the E.U. Q.E. is announced but we expect the euro to fall further despite the warnings the market has already received of this. As you saw in the last week, gold and silver prices will benefit from all these moves. Indeed, the currency changes we are now watching are part of a long process of metamorphosis of the world’s monetary order, mainly unplanned, but in the case of Asia, foreseen and to a large extent planned. Gold will be an important part of such re-structuring.

 

Silver– The silver price is running ahead of gold, as forecast. www.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,108.69

Sf1,105.15

US

$1,277.00

$1,258.00

EU

€1.101.15

€1,084.48

India

Rs.78,758.98

Rs. 77,857.62

 


| Digg This Article
 -- Published: Monday, 19 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.