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

GoldSeek Radio Nugget: John Embry and Chris Waltzek
By: radio.GoldSeek.com

AlphaZero for President
By: George Smith

Ira Epstein's Metals Video 12 14 2017
By: Ira Epstein

Asian Metals Market Update: December-15-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver End Slightly Lower
By: Chris Mullen, Gold Seeker Report

Are You Ready For The Next Rally?
By: Craig Hemke

Long Term Patterns in Stocks, Gold and Crude
By: Gary Christenson

Exploration Update: Golden Arrow’s Pescado Project
By: Nicholas LePan, SilverSeek.com

GoldSeek Radio Nugget: Charles Hughes Smith and Chris Waltzek
By: radio.GoldSeek.com

Strap Yourself In - We Are About To See Some Big Moves In Metals
By: Avi Gilburt

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Tuesday, 24 March 2015 | Print  | Disqus 

Gold Today –New York closed at $1,190.60 up $7.40. Asia held it $4 below that level before London opened, where it was lifted back up to $1,191.10 ahead of the “LBMA Gold price”. This morning the “LBMA gold price” was set at $1,193.25 up $11.85 and in the euro equivalent of €1,086.75 up €1. Ahead of New York’s opening, gold was trading in London at $1,193.60 and in the euro at €1,087.36.

 

Silver Today – The silver price closed at $17.06 up 33 cents. Ahead of New York’s opening it was trading at $17.02.

 

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

 

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

 

Price Drivers

There were no sales or purchases of gold from or to the SPDR gold ETF of or into or from the Gold Trust on Monday. The holdings of the SPDR gold ETF are at 744.401 tonnes and at 164.71 tonnes in the Gold Trust.  As gold approaches resistance at $1,200 we expect the price to consolidate and either build up strength for an assault on that price or turn down again. The $1,200 level is an important psychological level for gold now.

 

The dollar continues to retreat with the dollar index dropping to 96.74. The euro is currently standing at $1.0981 after reports that Germany is recovering well, taking the ‘average’ Eurozone growth higher to a recovery, moving forward. Nevertheless, such an average is not a fair reflection of what is going on in the E.U. as its separate member states are not faring well in the southern part of the E.U. The factors that are weakening the euro are still in place [E.U.Q.E.] and intended to keep the euro weak going forward.

 

The U.S. meanwhile is starting to howl over a strong dollar. But the dollar appears to have peaked and has weakened by 4 points on the index in the last week, after rising the same amount the week before. Bearing in mind that the dollar remains very strong, up from a dollar index of 72 in the last year, it is hurting the U.S. economy. But a fall in the dollar is proving gold positive now!

 

The widening of support for the Asian Infrastructure Investment Bank is seeing Canada now join, leaving only the U.S. and Japan amongst the major nations not joining. This is interesting particularly as the I.M.F. is reviewing the composition of the I.M.F.’ currency the Special Drawing Right later this year.  Any visible opposition by the U.S. to the AIIB could indicate opposition to the Yuan being included as one of the currencies against which it is measured. This would be gold positive!  [Subscribe through www.goldForecaster.com & www.SilverForecaster.com ]

 

 In the ongoing Greek tragedy, Greece will list more specifically its intended reforms by the end of this week.  The question is, “Can they implement them effectively?” The ‘run’ on Greek banks continues while we wait.  Merkel is trying hard to slow the acrimony between the two nations, but it seems that this is not going away.

 

Silver– The silver price is running ahead of gold.                       

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,143.23

Sf1,148.87

US

$1,193.60

$1,181.60

EU

€1,087.36

€1,085.73

India

Rs.74,325.47

Rs. 73,578.23

 


| Digg This Article
 -- Published: Tuesday, 24 March 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.