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 and Silver Pare Yesterday’s Gains; Dow Drops 700+
By: Chris Mullen, Gold Seeker Report

SSR Mining begins drilling at Eagle Plains (TSX-V: EPL) Fisher Gold Property
By: Nicholas LePan,

Worried About Rising Rates? I Believe this Strategy Could Be the Answer
By: Frank Holmes

Is It The Trade War Threats Or Extreme Overvaluation?
By: Dave Kranzler

GoldSeek Radio Nugget: Peter Schiff and Chris Waltzek

When Is Three Better for Gold Than Four?
By: Arkadiusz Sieron

Mining Gold and Silver From Bombs
By: Rory Hall

Golden Arrow Starts Drilling at Antofalla Silver-Gold-Base Metal Project, Argentina
By: Golden Arrow Resources Corporation

Gold +1.8%, Silver +2.5% As Fed Increases Rates And Trade War Looms
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Gain Roughly 2% After Fed
By: Chris Mullen, Gold Seeker Report


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Wednesday, 4 February 2015 | Print  | Disqus 

Gold Today –New York closed at $1,261.20 down $13.40. In Asia lifted gold slightly to $1,264 but ahead of London’s opening recovered to $1,284.70. At the Fix gold was set at $1,281.00 down $11.75 and in the euro, at €1,108.80 down €20.133, while the euro was barely changed at $1.1553. Ahead of New York’s opening gold was trading in London better, at $1,267.60 and in the euro at €1,107.85.


Silver Today – The silver price closed at $17.28 up 8 cents. Ahead of New York’s opening it was trading at $17.45.


Gold (very short-term) The gold price will consolidate with a positive bias, today in New York.


Silver (very short-term) The silver price will consolidate with a positive bias, in New York today.


Price Drivers

There were sales of 1.792 tonnes of gold from the SPDR gold ETF and a sale of 0.03 of a tonne from the Gold Trust on Tuesday. The holdings of the SPDR gold ETF remain at 764.943 and at 167.51 tonnes in the Gold Trust. 


The gold price has pulled back to above support once again as gold continues to consolidate  but on low U.S. turnover. With China taking more that is being supplied to the market from newly mined gold and scrap, a question has arisen as to how the price can fall in such an environment. It can happen when there is sufficient liquidity in the London market which continues to be the main hub for gold pricing. Over time as this liquidity is drained the upside pressure would be built to the point where such speculators and traders do not have the power to push prices down in such a market. The difference between short-term market moves and long-term moves is then described by such action. We saw the same in 2005 when after two decades of falling and low prices the gold price brushed aside such downward pressures and surged to more than double the previous peak. Can such pressures exert themselves again? We believe they can as supply has now peaked from newly mined gold and scrap [until much higher prices are seen] and yet Asian demand is continuing to grow. Bearing in mind that Asian demand is to find financial security by new buyers who are middle classes getting richer or from new entrants into the middle classes. Such demand is unlikely to fade or lessen for the foreseeable future. What we don’t know is when the upward pressure on the gold price will overwhelm speculative liquidity, but we know it is close.


The euro is recovering strongly at the moment while gold is slipping against the dollar. The move of the dollar and the gold price together is still happening.  With the euro rising to $1.1482 before London opened the 1% rise equates to a 1% fall in gold.


In his meeting with Germany’s Finance Minister, the Greek finance minister Yanis Varoufakis’ will propose the exchange of outstanding debt for new growth-linked bonds, running a permanent budget surplus and targeting tax dodgers. Furthermore, Mr. Varoufakis said Syriza would not seek a write-off of Greece’s 315 billion sovereign debt. [Subscribe to &]. 


Silver– The silver price has a more stable, positive tone to it now, while gold falls.




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


Global Gold Price (1 ounce)















Rs. 79,143.32


| Digg This Article
 -- Published: Wednesday, 4 February 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.