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.com Radio: John Embry and Charles Hughes Smith, and your host Chris Waltzek
By: radio.GoldSeek.com

Gold – WE’RE “CLOSE ENOUGH”
By: Gary Savage

The Dangerous Dream of Secession
By: George Smith

Amid Bad Fundamentals, Gold Sector Rally May Have Begun
By: Gary Tanashian

Bitcoin Proves You Cannot Have Your Digital Cake and Eat it Too
By: Nathan McDonald

Relief Rally in Gold Mining Stocks
By: Jordan Roy-Byrne CMT, MFTA

The Morgan Report's Weekly Perspective
By: David Morgan

Outlook for gold – 2018
By: Alasdair Macleod

Stephen Poloz Right To Be Worried
By: Peter Diekmeyer

The Yield Curve And The Boom-Bust Cycle
By: Steven Saville

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Monday, 20 April 2015 | Print  | Disqus 

Gold Today –New York closed at $1,204.50 up $5.50 on Friday in NY. Asia took it up to $1,208 with London holding it there ahead of the LBMA Gold Price. The LBMA Gold price was set at $1,203.25 down $1.30. The euro equivalent stood at €1,118.83 up €7.11 against a weaker $: € rate of $1.0753 against yesterday’s $1.08355. Ahead of New York’s opening, gold was trading lower in London at $1,198.30 and in the euro at €1,115.68.

 

Silver Today – The silver price closed at $16.26 down 3 cents on Friday. Ahead of New York’s opening it was trading at $16.05.

 

Gold (very short-term) The gold price will continue to consolidate, then make a strong move either way, in New York today.

 

Silver (very short-term) The silver price will continue to consolidate, then make a strong move either way, in New York today.

 

Price Drivers

The dollar began the week at $1.0781 and the dollar index at 97.52 showing a consolidating dollar more than a rising euro. Gold moved through its trading range, ahead of New York’s opening. Once again the gold price was essentially moved sideways ahead of New York’s opening confirming the tightness of the trading range implying a strong move anytime.

 

The E.C.B.’ Draghi told the media on Friday that it was pointless to short the euro. History shows that when a central banker attempts to stall the movement of a market trend, it is taken as an incentive to do the opposite. We don’t see why this time an exception should be made. As we said last week, “The factors that drove the dollar higher remain in position and the trend remains for a stronger dollar.” After all, the E.U. is gaining competitiveness enormously by the fall in its exchange rate.

 

To us the Greek situation is becoming more transparent as Greece said it won’t renege on election pledges to end austerity measures. The Deputy Prime Minister said, “We don’t budge from our red lines.” Now look at the laid back attitude of the Prime and Finance Ministers of Greece and we see them waiting for the E.U. to give a solution as they are unlikely to do more. Unless the E.U. offers more money Greece will be ejected from the euro. The tragedy will therefore grind on until June with the euro tending to weaken until then [we remind readers that  the euro trend is down while E.U.Q.E. continues through to Sept 2016].

There were purchases of 2.988 tonnes into the SPDR gold E.T.F. but no change in the Gold Trust on Friday. The holdings of the SPDR gold ETF are at 739.069 tonnes and at 165.28 tonnes in the Gold Trust. 

 

From today onwards we expect Indian demand to subside as the festival season comes to an end.                                                                          Subscribe www.goldForecaster.com

 

Silver– Silver is discounting a fall in the gold price. Subscribe www.SilverForecaster.com ]

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,148.03

Sf1,147.47

US

$1,198.30

$1,205.20

EU

€1,115.68

€1,115.05

India

Rs.75,373.07

Rs. 75,150.25

 


| Digg This Article
 -- Published: Monday, 20 April 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.