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

The Good News For Gold
By: Stewart Thomson

We Need a Free Market in Interest Rates
By: Keith Weiner

US and Global Market Internals
By: Gary Tanashian

Will Gold Prices Soar after March 2019?
By: Arkadiusz Sieron

The Post Bubble Contraction Thesis Receives Validation (Part III)
By: Plunger

Whose Trillion is it Anyway?
By: Andy Sutton and Graham Mehl

The Best Time to Prepare Is While the Bull Runs
By: Frank Holmes

Gold Set to Soar Above $1,300 – Goldman and Bank of America
By: GoldCore

Asian Metals Market Update: Sep 25 2018
By: Chintan Karnani, Insignia Consultants

Ira Epstein's Metals Video 9 24 2018
By: Ira Epstein


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Thursday, 22 January 2015 | Print  | Disqus 

Gold Today –New York closed at $1,293.50 up $0.80 as the euro started to weaken again. In Asia and early London the gold price slipped slightly to $1,287.1 with the euro a tad stronger at $1.1581. The Fix saw the gold price set at $1,287 down $11.00 and in the euro, at €1,107.955 down €13.718, while the euro was stronger at $1.1616. Ahead of New York’s opening gold was trading in London at $1,286.60 and in the euro at €1,106.94.


Silver Today – The silver price closed at $18.15 up 22 cents. Ahead of New York’s opening it was trading at $18.07.


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 of gold from the SPDR gold ETF and a purchase of 2.2 tonnes into the Gold Trust on Wednesday. The holdings of the SPDR gold ETF are at 740.451 and at 167.62 tonnes in the Gold Trust.  On balance the U.S. continues to buy. [Subscribe to &].


Today, the long awaited announcement of Q.E. is going to be made. Talk is of a program to buy €50 billion worth of bonds a month until over €1 trillion has been bought in several years time. The hype is that this will lead to economic growth. Perhaps a more realistic appraisal is that it will deflect any banking or sovereign debt crisis by keeping the banking and national debt systems relatively ‘healthy’ while consumers struggle to instigate growth over time. In such an environment Draghi hopes that deflation will not cause the feared wounds it usually causes. If a ‘Greece exit’ takes place, then the seismic shocks will have a buffer now. With the clear disunity amongst the economically ‘strong’ member states and the weak, the E.U. continues to look vulnerable and the euro falling. Draghi is doing a very good job, seemingly without the help of the governments he serves.


Whatever economic growth comes over time is more likely to be assisted by lower oil prices. Add the fall in the oil price to the fall in the euro and we see that oil prices are down in the E.U. by around 60% on last year, against 50% in the U.S. with more to come, we feel.


In this global environment gold will continue to be attractive as fears for the future remain in position and confidence in the E.U. economy at a low level.


In China we are moving fast to the Chinese New Year on the 17th February and remain in the ‘marriage season’ in India at an ‘auspicious’ time of the year for buying gold. In the first week of the year demand was 15% higher than in the week ending 2014 in China. We see this demand rising in the next few weeks.


Silver– The silver price is keen to hold its gains waiting for gold to hold above $1,300.




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


Global Gold Price (1 ounce)















Rs. 80,000.27


| Digg This Article
 -- Published: Thursday, 22 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 - 2018 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.