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

Gold Seeker Closing Report: Gold Gains While Stocks Fall Markedly
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 18 2018
By: Ira Epstein

The Incredibly Bullish Set-Up for Gold
By: Michael Ballanger

End of the World – Part One
By: Gary Christenson

The Weighted Average Cost Of Capital
By: Adam Taggart

Gold Would Not Enjoy That FOMC Is Going More Restrictive
By: Arkadiusz Sieron

Are You An Investor Being Set Up For The Slaughter?
By: Avi Gilburt

How Do You Sell Your Vaulted Gold When the Internet Goes Down?
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Edge Lower Again
By: Chris Mullen, Gold Seeker Report

GoldSeek Radio Nugget: President Niko Cacos, CEO, and Director of Blue Sky Uranium Corp. and Chris Waltzek
By: radio.GoldSeek.com

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Wednesday, 18 February 2015 | Print  | Disqus 

Gold Today –New York closed at $1,208.50 down $14.00. In Asia the gold price was lifted to $1,210.45. London Fixed the gold price at $1,206.50 down $15.25 and in the euro, at €1,059.356 down €13.201, while the euro was almost unchanged at $1.1389. Ahead of New York’s opening gold was trading in London at $1,206.10 and in the euro at €1,059.56.

 

Silver Today – The silver price closed at $16.51 down 44 cents. Ahead of New York’s opening it was trading at $16.45.

 

Gold (very short-term) The gold price will look for a bottom, today in New York.

 

Silver (very short-term) The silver price will look for a bottom, in New York, today.

 

Price Drivers

There were no sales or purchases into or from the SPDR gold ETF and none from the Gold Trust on Tuesday as gold prices slipped back as Chinese demand wound down as the Chinese Lunar New Year began. It last from now until the 24th February. As Chinese demand has been such a support for the gold price, its absence will leave the gold price vulnerable to further falls. The holdings of the SPDR gold ETF are at 768.263 and at 167.03 tonnes in the Gold Trust.  We expect support to be really tested for the next week and a half. Indeed, from now until the end of the month, the gold market may well see thin trade and give speculators and traders free rein to move the gold price wherever it wants to. Below current levels in the gold price lies very well tested support so the extent of gold’s vulnerability should not be over estimated.

 

It seems to us that the new Greek government is ensuring every effort is made to get some accommodation from the E.U. but it seems to have zero expectations. Hindsight will then confirm they tried every option before having to choose the inevitable. We also get the impression that the E.U.’s intransigence is immovable and that both sides expect an inevitable conclusion. To us our main question will be, “Will action be taken to leave the Eurozone this weekend or next weekend.” The flow of capital and the massively falling tax revenues to the government well may force the decision earlier rather than later.

 

Yesterday we said, “”But we do not believe it will end up a Greek tragedy. We see that within one year Greece will start to thrive.” We explain this, in detail, in our next issue of the Gold Forecaster, as Capital/Exchange Controls are implemented in Greece. [Subscribe to www.GoldForecaster.com & www.SilverForecaster.com]. 

 

We note that the Technical picture for gold has not turned negative so we look forward to an indecisive week in terms of the direction of both gold and silver. However, the news out of the U.S. is that Paulson’s fund, the largest shareholder of the SPDR gold EZTF continues to leave its huge holdings unchanged.

 

Silver– The silver price took another knock yesterday and may well find the next week will see it fall further. The decision investors much make in the next week is, “Are they being presented with a wonderful buying opportunity or have they waited too long to sell?”

www.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,133.01

Sf1,135.67

US

$1,206.10

$1,220.00

EU

€1,059.56

€1,068.06

India

Rs.75,182.24

Rs. 75,878.63

 


| Digg This Article
 -- Published: Wednesday, 18 February 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 - 2018



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.