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

Ira Epstein's Metals Video 3 21 2018
By: Ira Epstein

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

JPMorgan's Domination of COMEX Silver
By: Craig Hemke

Can Central Banks Manage the Deflation of an Everything Bubble?
By: Graham Summers

No, gold leased from central banks doesn't always have to be returned
By: Chris Powell

Why the World’s Central Banks hold Gold – In their Own Words
By: Ronan Manly

WATCH OUT BELOW: Dow Jones Index Next Stop… 19,000
By: Steve St. Angelo

Additional Signs for PMs Amid Increasing FOMC Tension
By: Przemyslaw Radomski, CFA

Credit Concerns In U.S. Growing As LIBOR OIS Surges to 2009 High
By: GoldCore


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Thursday, 12 March 2015 | Print  | Disqus 

Gold Today –New York closed at $1,154 down$7.30 as, for yet another day, the dollar continued to rise as the market remained dominated by currency issues. Asia lifted the gold price by $11 before London pulled it back to $1,160. London then Fixed the gold price at $1,161.25 up $2.50 and in the euro, at €1,094.899 down €1.157, while the euro was at $1.0606, up quarter of a cent.  Ahead of New York’s opening, gold was trading in London at $1,159.00 and in the euro at €1,091.51.


Silver Today – The silver price closed at $15.50 down 18 cents. Ahead of New York’s opening it was trading at $15.63.


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


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


Price Drivers

There were no sales or purchases of gold from the SPDR gold ETF but a sale of 0.84 of a tonnes from the Gold Trust on Wednesday. The holdings of the SPDR gold ETF are at 753.037 tonnes and at 164.02 tonnes in the Gold Trust. 


This morning has seen much more demand from Asia and a bounce in the gold price as well as in the euro. The signal for a jump in Asian demand will be the formation of a ‘bottom’, indicating prices have stopped falling. The fear of further price falls does deter Asian demand, but once that is removed the concept of ‘bargains’ takes over.


The euro has fallen from $1.40 from its peak to today’s $1.06 or 25%. The euro is the world’s second most important and used currency so a fall of 34 points against the sole global reserve currency is a game changer. Just look at the price changes of the Boeing aircraft compared to a European one. A 25% discount is hard to resist.


The Yen, in the top five global currencies, has fallen from 76 to a dollar to 121 to the dollar a fall of 46 points or 60% and this has made Japanese imported products so cheap they compete with Chinese products now. The U.S. will see a jump in its imports, fall in exports and an undermining of its Balance of Payments from now on. China has seen its currency rise against all other currencies except the dollar, so we fully expect at some point to see the Yuan ‘peg’ lowered against the dollar. So in Yuan, the gold price will jump at that time and China seeks to make its exports more competitive.


It takes no stretch of the imagination to see that we are close to a trade war.  The world has been changed by currency values, not innovation or effort, but by manipulations through quantitative easing. Bear in mind this is undertaken to deflect deflation, another major threat to the global economy being fought off.


Subscribe to


Silver– The silver price will accept a bottom in the gold price and stabilize.


Subscribe to




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


Global Gold Price (1 ounce)















Rs. 72,667.05


| Digg This Article
 -- Published: Thursday, 12 March 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.