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

Technical Scoop - Weekend Update October 15 2018
By: David Chapman

Gold Market Update - the 7-year bearmarket phase is over...
By: Clive Maund

Beach Time
By: Larry LaBorde

Don’t Follow Fake News Or Fake Analysts In Metals
By: Avi Gilburt

Consider This Your Final Warning About Gold, For Bulls And Bears Alike
By: Avi Gilburt

GoldSeek Radio: Joseph Grosso, Axel Merk and Brian McEwen, and Chris Waltzek

Fascism Perfect Antidote: The Gold Standard
By: Jim Willie CB

Red Hot China Mailbag
By: John Mauldin

Has “It” Finally Arrived?
By: Chris Martenson

Last Week Was Just A Taste Of The Coming Gold Short Squeeze
By: John Rubino


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Thursday, 29 January 2015 | Print  | Disqus 

Gold Today –New York closed at $1,284.90 down $9.20. In Asia gold slipped to $1,280. The Fix saw the gold price set at $1,275.50 down $11.50 and in the euro, at €1,129.361 down €2.565, while the euro was ¾ of a cent stronger at $1.1294 up over 1 ½ cents. Ahead of New York’s opening gold was trading in London better, at $1,276.30 and in the euro at €1,129.27.


Silver Today – The silver price closed at $17.99 down 10 cents. Ahead of New York’s opening it was trading uncertainly at $17.62.


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 purchases or sales into or from the SPDR gold ETF or into or from the Gold Trust on Wednesday. The holdings of the SPDR gold ETF are at 752.697 and at 167.54 tonnes in the Gold Trust.  Consequently, the gold price drifted in line with a weakening dollar against major currencies.


A look at the performance of the Swiss Franc shows that it is being weakened by the Swiss National Bank and now stands at 0.9212 against the dollar a fall from its peak of last week of 0.85. This is why you are watching the gold price rise in the Swiss Franc while it is falling in the dollar.


The Fed stated that the recovery in the U.S. was now solid, but remains worried about declining inflation and the economic turbulence outside the U.S.  There is a great tendency to take the daily detail we see reported and allow ourselves to redefine the ‘big’ picture based on these. While a trader may deal on the back of the very short-term picture, the professional investor, always takes the daily detail and pops it into the long-term picture to keep his perspective and slot detail into context. Standing back we see that the trend in gold and silver has changed for the better and that an economically strong U.S. will not change the world, but the world can change the U.S. The Fed’s sober line is to be respected.


After all, the gold and silver price is not about economic strength or the exchange rate of one currency against another. It is about confidence in the monetary system to fulfill the function it is supposed to serve, that of measuring value as well as being a means of exchange. Right now it functions well as a means of exchange, but has failed to measure true value. We are now at the point where its role as a measure of value is being abandoned in favor of other interests of the nation, leaving a crying need for a measure of value that will remain no matter what. We see this as a long-term path for gold and silver now. It also explains the change in direction of the precious metals. [Subscribe to &]. 


Silver– The silver price should remain volatile, for the time being, relative to gold.




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


Global Gold Price (1 ounce)















Rs. 79,179.26


| Digg This Article
 -- Published: Thursday, 29 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.