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

Bitcoin to Hashgraph: The Crypto Revolution (Hidden Secrets of Money Episode 8)
By: Mike Maloney

SWOT Analysis: Many Gold Traders Bullish After Federal Reserve Rose Rates
By: Frank Holmes

Gold EFPs: Absolute Proof that the Paper Gold Price is a Fraud
By: Stewart Dougherty

Gold’s Shooting Star and Its Implications
By: Przemyslaw Radomski, CFA

Why 2017 Was a Year to Celebrate
By: John Mauldin

Three Charts That SCREAM "Inflation" in 2018
By: Graham Summers

The Man Who Invented Christmas
By: Larry LaBorde

WORLD SILVER PRODUCTION: 3 Charts You Won’t See Anywhere Else
By: Steve St. Angelo

Explaining My Amazement About Those Turning Bullish On The Banking Sector Now
By: Avi Gilburt

Gold And Silver Futures Swing From Bearish To Bullish In Just Two Weeks
By: John Rubino

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Friday, 20 February 2015 | Print  | Disqus 

Gold Today –New York closed at $1,207.4 down$1.10. London Fixed the gold price at $1,203.50 down $3.00 and in the euro, at €1,061.381 up €2.025, while the euro was half a cent weaker at $1.1339. Ahead of New York’s opening, gold was trading in London at $1,204.40 and in the euro at €1,063.49.

 

Silver Today – The silver price closed at $16.39 down 12 cents. Ahead of New York’s opening it was trading at $16.42.

 

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

 

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

 

Price Drivers

There were purchases of 1.194 tonnes into the SPDR gold ETF but none into the Gold Trust on Thursday, as gold prices are now solidly under the influence of gold markets outside China. The holdings of the SPDR gold ETF are at 768.263 tonnes and at 167.03 tonnes in the Gold Trust.  So far, in the absence of Chinese gold demand, the gold price is holding above support at $1,200. We are still of the opinion that physical activity will dominate, while traders and speculators try to push the price around. But even they appear loathe to break support as they are aware of the influence the E.U.-Greek situation could have on the gold price and currency markets.

 

As to Greece, Germany rejected Greece’s proposal. We expect today’s meeting of governments in the E.U. to do the same. The Eurozone believes that Greece will back down. We see the Greek Prime and finance Ministers on a somewhat Messianic quest, in their minds, so will not accept any lesser proposal than the one they put forward. Maybe we are a trifle cynical, but we believe both sides are fully aware of the next step and have decided to accept it. Perhaps on Monday when you read this market report, you will be seeing tremendous volatility in global financial markets as a result!

 

In our current issue of the Gold Forecaster, we detail the types of Capital/Exchange Controls that may be implemented in Greece, which within a few years we see a very different Greece than the one we are seeing now. [Subscribe to www.GoldForecaster.com & www.SilverForecaster.com].  Maybe you should be ready to book a pretty cheap holiday there soon?

 

What is very pertinent to the long-term gold price is the Fed’s reaction to problems outside of the U.S. and their impact on both the dollar and on the U.S. economy. Many feel that the U.S. is nigh on immune to outside financial problems, but the Fed doesn’t think so! Nor do we!

 

Silver– The Silver Trust is seeing buyers of its shares after weeks of sales. But while this is a good gauge of professional silver investor’s opinions, we see that they are not enough to influence the silver price, which remains tethered to the gold price.

www.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,146.17

Sf1,135.67

US

$1,204.40

$1,220.00

EU

€1,063.49

€1,068.06

India

Rs.74,961.86

Rs. 75,878.63

 


| Digg This Article
 -- Published: Friday, 20 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 - 2017



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.