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: Thursday, 26 February 2015 | Print  | Disqus 

Gold Today –New York closed at $1,204.60 up $2.50. London Fixed the gold price at $1,220.00 up $13.50 and in the euro, at €1,073.660 up €11.6, while the euro was almost unchanged at $1.1363. Ahead of New York’s opening, gold was trading in London at $1,217.00 and in the euro at €1,071.87.


Silver Today – The silver price closed at $16.54 up 22 cents. Ahead of New York’s opening it was trading at $16.82.


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


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


Price Drivers

There were no purchases or sales into or from the SPDR gold ETF but there was a sale of 1.5 tonnes from the Gold Trust on Wednesday. The holdings of the SPDR gold ETF are at 771.249 tonnes and at 166.43 tonnes in the Gold Trust. 


Ahead of London’s opening Asia made the play once again, as the gold price was lifted over $1,214 ahead of London’s opening. When we look back to last week, we saw the gold price unwilling to fall below $1,200 and that was in the absence of Chinese demand. Technical buying in the States was sufficient to hold it there, as the rest of the world was unwilling to push it down, despite the temporary resolution of the Greek bailout crisis. Now that robust demand is back in China and ahead of the Indian budget in the next week we are watching to see if Asia is simply buying at bargain prices or willing to take the gold price higher.


The Greek bailout issue in 4 months can blow open completely again, when the postponement ends. The yoke of oppressive debt will stay with Greece for a very long time unless it takes action to break free and turn its economy around by returning to the Drachma. The Greek Finance Minister has scotched such a possibility saying Greece will do all it can to stay in the Eurozone. So, right now, the Greece issue will no longer have an impact on the gold price, for at least 4 months.


                                    Subscribe to


Our attention now turns to India for news that will directly impact the gold price. Smuggling gold is almost institutionalized there for the history of disobeying government and its bureaucrats on gold and the dark side of Indian finances goes back more than a generation. It therefore now makes sense for the government of India to lower duties back to 2% from 10% because the volume of smuggled gold into India will now revert to ‘official’ routes and reflect on the balance of Payments. With the oil price reducing India’s trade deficit dramatically gold imports can reflect on the B of P without impacting the Rupee, indeed such action may restrain the appreciation of it. So, all eyes are now on Mr. Modi, to see if he lowers duties on gold and boosts gold imports to the country.


Silver– The silver price will not stop following the direction of the gold price.


            Subscribe to




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


Global Gold Price (1 ounce)















Rs. 74,319.32


| Digg This Article
 -- Published: Thursday, 26 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.