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

Bitcoin to Hashgraph: The Crypto Revolution (Hidden Secrets of Money Episode 8)
By: Mike Maloney

SWOT Analysis: Many Gold Traders Bullish After Federal Reserve Rose Rates
By: Frank Holmes

Gold EFPs: Absolute Proof that the Paper Gold Price is a Fraud
By: Stewart Dougherty

Gold’s Shooting Star and Its Implications
By: Przemyslaw Radomski, CFA

Why 2017 Was a Year to Celebrate
By: John Mauldin

Three Charts That SCREAM "Inflation" in 2018
By: Graham Summers

The Man Who Invented Christmas
By: Larry LaBorde

WORLD SILVER PRODUCTION: 3 Charts You Won’t See Anywhere Else
By: Steve St. Angelo

Explaining My Amazement About Those Turning Bullish On The Banking Sector Now
By: Avi Gilburt

Gold And Silver Futures Swing From Bearish To Bullish In Just Two Weeks
By: John Rubino

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Monday, 11 May 2015 | Print  | Disqus 

Gold Today –New York closed at $1,188.50 up $5.60, on Thursday’s level. Asia saw it hold at that level ahead of London’s opening with London then taking it down $4. The LBMA Gold price was set at $1,184.75 up only $1.75 on Friday’s level. The euro equivalent stood at €1,061.27 up €19.35 while the dollar was stronger at $1.1135 down from $1.1351 against the euro. Ahead of New York’s opening, gold was trading slightly higher in London at $1,186.45 and in the euro at €1,063.37.

 

.Silver Today – The silver price closed at $16.48 up 17 cents on Friday’s level. Ahead of New York’s opening it was trading at $16.45.

 

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

 

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

 

Price Drivers

You will note, once again, that the gold price is moving with the dollar not with the euro. And yet the exchange rate is now volatile between the world’s two main currencies. The dollar is stronger at $1.1157 to the euro and the dollar index now higher at 95.12 up from 94.66 on Friday.

 

There were determined sales of gold from the SPDR gold ETF on Thursday and Friday of 10.743 tonnes of gold from the SPDR gold E.T.F. but no movement in the Gold Trust on Friday. The holdings of the SPDR gold ETF are at 728.322 tonnes and at 166.14 tonnes in the Gold Trust.  These sales are the first significant sales we have seen in over a month, but they failed to dampen the gold price. Once again moves in the main currencies are dominating the action in the gold and silver markets.  Subscribe www.goldForecaster.com

 

The week starts with Greece, once again, as they say they can meet the $835 million repayment to the IMF tomorrow. The negotiations pant on and will do, we feel, until late June as the brinkmanship we have watched for some time continues. What is clear to all is that Greece had to scrape the barrel to make these payments. They will not be in a position to repay the heftier bills in June and July of well over $1 billion each. The debt burden of Greece is expected to rise to at least 175% of GDP, making the debt burden unsustainable. In practical terms the Greek people have a very tough future that they voted to reject.  So we expect a referendum to give the government the space to leave the Eurozone and the euro. Only then will the situation affect the euro and gold in Europe.

 

QE in the U.S. and Eurozone directly impacted the banks and protected them, without having too much impact at ground level. In China this type of rescue is targeting the Municipalities from whom growth will flow, it is hoped. In China it will build the middle classes at local level and the Chinese will take their savings to gold. This will ensure the constant flow of Chinese savings into gold for the foreseeable future.

 

Silver– Silver prices are base building above $16.  Subscribe www.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,105.42

Sf1,076.99

US

$1,186.45

$1,183.50

EU

€1,063.37

€1,042.46

India

Rs.75,849.75

Rs. 75,936.32

 


| Digg This Article
 -- Published: Monday, 11 May 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.