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 Weekly Wrap-Up: Gold and Silver Gain Roughly 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 12 1 2017
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - December 15, 2017
By: GoldSeek.com

Gold Bullish on Fed Hike 2
By: Adam Hamilton, CPA

Europe, Brexit and the credit cycle
By: Alasdair Macleod

WGC: 2018 Set To Be A Positive Year For Price of Gold and Investors
By: GoldCore

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

Basing Phase Ending
By: Gary Savage

AlphaZero for President
By: George Smith

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

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Tuesday, 31 March 2015 | Print  | Disqus 

Gold Today –New York closed at $1,185.50 down $17.90 this week. Asia took it down $3 before London set the LBMA Gold price at $1,179.25. The euro equivalent stood at €1,098.1 down €8.44. Ahead of New York’s opening, gold was trading in London at $1,184.45 and in the euro at €1,101.45.

 

Silver Today – The silver price closed at $16.71 down 34 cents. Ahead of New York’s opening it was trading at $16.60.

 

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

 

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

 

Price Drivers

There have been no sales or purchases gold from or to the SPDR gold ETF this week. The holdings of the SPDR gold ETF are at 737.237 tonnes and at 164.71 tonnes in the Gold Trust. 

 

Having failed to hold above $1,200 there is more work needed before gold will reach that big figure.  It has now adopted a consolidation pattern.

 

The dollar is grew stronger overnight taking the dollar Index back to 98.46 up from at the end of last week, while the euro is slipping to $1.0741 down from $1.8270 last week. The dollar needs to break up through 100 on the dollar index to show it has higher to go. The gold price remains strong in all currencies except the dollar where it is not tumbling but not rising either. Gold’s strength in other currencies remains convincing.

 

 Subscribe through www.goldForecaster.com & www.SilverForecaster.com ]

 

There is nothing new, short-term in the gold and silver markets now as the Saudi incursion into the Yemen has been discounted in the oil and precious metal prices. Today sees the funding of the Asian Infrastructure Investment Bank with 40 countries now buying into the bank, but with the U.S. and Japan absent from the offering. Europe and other Asian nations make up the majority of the investors. The significance of this for precious metal investors lies in the division of the U.S./Japan and China as the Chinese presence in the monetary world moves towards center stage later this year. The division between the U.S./Japan and Asia augers volatility in global foreign exchanges, when Capital Controls are lowered in China and the I.M.F. discusses the make-up of the SDR, sometime this year.

 

Meanwhile, the official volume of gold entering the Chinese economy from outside has to pass through the Shanghai Gold Exchange, which is under the control of the People’s Bank of China. The volume for the first quarter of the year has already reached 561 tonnes with up to another 80 tonnes to come to complete the quarter. This sets a new record for the SGE, higher than the volume seen early in 2013 when the gold price produced the Chinese version of a gold rush on the exchange.

 

Silver– The silver price as usual has fallen further than the gold price in percentage terms.

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,152.11

Sf1,151.41

US

$1,184.45

$1,208.00

EU

€1,101.45

€1,097.98

India

Rs.74,025.16

Rs. 75,716.23

 


| Digg This Article
 -- Published: Tuesday, 31 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.