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

Gold Seeker Weekly Wrap-Up: Gold and Silver Find Slight Gains on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 19 2018
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - October 19, 2018

Gold Is Becoming Cool Again
By: John Rubino

Inflection Point for Gold
By: David Brady, CFA

Gold-Stock Sentiment Shifting
By: Adam Hamilton, CPA

Gold’s Official Price is $42, and maybe that’s a Good Thing
By: JP Koning

GoldSeek Radio Nugget: Ralph Acampora and Chris Waltzek

Is Your Portfolio Ready for the Greatest Demographic Shift in History?
By: Marin Katusa

Is Bitcoin Ever A Buy-And-Hold?
By: Avi Gilburt


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Tuesday, 12 May 2015 | Print  | Disqus 

Gold Today –New York closed at $1,183.40 down $5.10 over Monday’s close. Asia took it up $2 ahead of London’s opening with London then holding it there. The LBMA Gold price was set at $1,184.45 down only $0.30 on Monday’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 higher in London at $1,194.00 and in the euro at €1,061.33.


Silver Today – The silver price closed at $16.28 down 20 cents on Monday’s level. Ahead of New York’s opening it was trading at $16.47.


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


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


Price Drivers

The gold price is moving with the dollar not with the euro still, as the euro climbed to $1.1250 and the dollar index pulled back to 94.40 down from 95.12. It is bouncing between these two levels now as it consolidates.


There were imperceptible sales of gold from the SPDR gold ETF on Monday of 0.003 tonnes of gold from the SPDR gold E.T.F. but no movement in the Gold Trust on Monday. The holdings of the SPDR gold ETF are at 728.322 tonnes and at 166.14 tonnes in the Gold Trust.  While there were no sales from the gold ETFs, trading in New York has set a pattern of rising initially, then a couple of hours into the session sees a $5+ drop in the price quickly, holding around that level for the rest of the session. Physical sales are coming from institutions outside the ETFs so it is clear that there are continuous attempts to hold the price down by others. If we look closely at who is likely to benefit, two clear factors emerge. For the last 48 years it has been to the advantage of the U.S. to ensure that all turn to the dollar to measure value and transact business. To achieve this it was necessary for gold to lose the trust it had previously. Now with the Chinese Yuan about to move to center stage and keen to lift the nation’s holdings of gold, it is to the Chinese that the advantage comes, as it can acquire huge holdings of gold at very low prices. We have no direct evidence of either authority acting directly in the gold market so this perception is difficult to establish. Likewise it is clear by the patterns formed over the last two years in the gold price that we are getting extremely close to a series of events that are going to change the world of gold and foreign exchanges. 


Greece paid its $835 bill today, but the Finance Minister warned that within two weeks Greece will run out of cash. This is a serious warning to the E.U. We are close to a point of resolution now, with the Greeks saying they will not leave the euro and have no more money. This throws the ball squarely in the court of the E.U. If Greece stays in the Euro and Eurozone, gold and silver prices as well as the euro are unlikely to be affected.


Silver– Silver prices are moving with gold but in a more resilient fashion.




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


Global Gold Price (1 ounce)















Rs. 75,849.75


| Digg This Article
 -- Published: Tuesday, 12 May 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.