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

Prelude To A 2008 Event: Paper Gold Manipulation Intensifies
By: Dave Kranzler

GoldSeek Radio Nugget: Gerald Celente and Chris Waltzek

War on Americans
By: Gary Christenson

Signal vs. Noise in the Gold Market
By: Jordan Roy-Byrne CMT, MFTA

Chinese Gold Market: Still in the Driving Seat
By: Ronan Manly

Financial Terrorism In The UK – Collusion between Government, Regulators and Two Bailed-Out UK Banks
By: GoldCore

Gold Seeker Closing Report: Gold Erases Early Losses to End Unchanged
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 7 18 2018
By: Ira Epstein

Housing Market Collapse 2.0 Has Begun
By: David Haggith

Will the Fed’s Tightening Trigger Another Crisis?
By: Arkadiusz Sieron


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Thursday, 16 April 2015 | Print  | Disqus 

Gold Today –New York closed at $1,202.50 up exactly $10.00 on Wednesday in NY. Asia took it up to $1,205 with London holding it there ahead of the LBMA Gold Price. The LBMA Gold price was set at $1,204.60 up $14.75 on Wednesday’s level. The euro equivalent stood at €1,129.22 up €5.55 against a weaker $: € rate of $1.0673. Ahead of New York’s opening, gold was trading higher in London at $1,208.00 and in the euro at €1,125.71.


Silver Today – The silver price closed at $16.32 up 12 cents on Wednesday. Ahead of New York’s opening it was trading at $16.49.


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

The consolidation continues around a strengthening, then weakening, dollar. With the dollar index now at 98.39 down from 99.27 and the euro up at $1.0669 from $1.0581 yesterday it was the turn of the dollar to retreat.


The impact of the Eurozone’s quantitative easing is being clearly seen in negative yields on bonds below 8 years and not only in Germany. Even Spain now sees yields on 6-month bonds in negative territory. It is also clear that it will take more than being paid to borrow money to produce economic growth. As Jack Lew, Treasury Secretary, said yesterday, it will take ‘policy’ [from government] to trigger growth of believable proportions in the Eurozone.  Much more can be done, but the political structures of Europe are working against that. So expect the euro to keep slipping for many good reasons, over time. It would appear from the comments of Jack Lew that the U.S. is being sanguine about this, but warned that policies designed to weaken a currency are not acceptable to the U.S. We ask, isn’t the Eurozone doing just that? Hence when we see dollar exchange rates falling we wonder. “Is this intervention?”


For gold the net result is this consolidation around $1,200. It will take an important event for this to change. Looking ahead there are so many potential such events, such as the departure from the euro of Greece, China making the Yuan freely convertible, as well as one of the higher risks the I.M.F. have warned about yesterday for the global economy. They warned of a “super taper tantrum” once U.S. interest rates start to rise. These may be most keenly suffered by the ‘shadow’ banking system such as life insurers as reactions to rising rates from low stable rates impact. Overall the atmosphere is conducive for holding gold against these risks. But, only Asia is really buying gold in huge amounts currently.


The negative impact of artificial intelligence on employment and the shift of wealth and manufacturing to the east are not discussed in the media, but remain the most devastating forces on developed world growth. These are long term influences and increase the developed world economy’s vulnerability to an event that will be positive for the gold market.


There were no purchases or sales into or from the SPDR gold E.T.F. or the Gold Trust yesterday. The holdings of the SPDR gold ETF are at 736.081 tonnes and at 165.28 tonnes in the Gold Trust.                                      Subscribe through


Silver– Silver is waiting for direction from gold still. Subscribe ]




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


Global Gold Price (1 ounce)















Rs. 74,379.24


| Digg This Article
 -- Published: Thursday, 16 April 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 - 2018 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.