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

Ira Epstein's Metals Video 3 16 2018
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - March 16, 2018

“Bankruptcy 1995” Revisited
By: James Turk

The egregious errors of static statistics
By: Alasdair Macleod

Gold Miners’ Q4’17 Fundamentals
By: Adam Hamilton, CPA

The Race to Repatriate Gold Reserves Accelerates
By: Nathan McDonald

Is the Economic Summer Coming?
By: Arkadiusz Sieron

Triggers And March Trigger Impending
By: Deepcaster

GoldSeek Radio Nugget: Gerald Celente and Chris Waltzek


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Friday, 23 January 2015 | Print  | Disqus 

Gold Today –New York closed at $1,303.70 up $10.20 as the euro started to really tumble again. In Asia and early London the gold price slipped slightly to $1,296.60 with the euro much weaker at $1.1324 down 2.66 cents against the dollar. The Fix saw the gold price set at $1,293.50 up $6.50 and in the euro, at €1,150.289 up €42.334, while the euro was 3.76cents weaker at $1.1240. Ahead of New York’s opening gold was trading in London uncertainly, at $1,294.00 and in the euro at €1,151.86.


Silver Today – The silver price closed at $18.38 up 23 cents. Ahead of New York’s opening it was trading uncertainly at $18.20.


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 of gold from or into the SPDR gold ETF but a sale of 0.63 of a tonne from the Gold Trust on Thursday. The holdings of the SPDR gold ETF are at 740.451 and at 166.99 tonnes in the Gold Trust


Draghi is doing what he says he would by launching QE in Europe. At 60 billion a month, until Sept 2016, leaving room for more to come, if necessary, he has delivered what he said he would. The euro will fall, much more as we see today.


He did water it down slightly by making national central banks do most of the work and carrying the risk. Only the governments of Europe can take it further. Draghi has now used up his arsenal of tools.  Sad to say, we do not see this creating economic growth over time in itself.


[Correction: The oil price fall in the U.S. is around 50% but with the fall in the euro against the dollar the fall is less in euros and around 40%.]


The oil price can help, as can the lower euro but with all currencies [except the dollar] ‘racing to the bottom’ how long will this do what it’s intended to? If economic stagnation continues to come closer, more money in shrinking economies will turn against the E.U. Rather like the man who has borrowed too much the loss of credibility will turn QE into an implosion.  The strain on the E.U., as a structure, may be too much.


The elections on Sunday in Greece may produce the first fracture in the E.U. structure? If E.U. Q.E. does not produce growth, then we believe we will enter a dangerous period for the world. The tsunami from the financial world will hit the rest of the world’s structures, with governments entering crises not see since the last war in Europe.


More importantly, the stress on the global monetary system itself is now rising, as volatility in exchange rates and capital flows across the system are creating separate pressures. We see gold moving from a ‘safe-haven’ investment to a role where it will be used to reinforce credibility in the world of currencies. [Subscribe to &].


Silver– Again, 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. 79,362.63


| Digg This Article
 -- Published: Friday, 23 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.