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

Exploration Update: Golden Arrow’s Pescado Project
By: Nicholas LePan,

GoldSeek Radio Nugget: Charles Hughes Smith and Chris Waltzek

Strap Yourself In - We Are About To See Some Big Moves In Metals
By: Avi Gilburt

Visit the Top Blockchain and Cryptocurrency Power Hubs of the World
By: Frank Holmes

Gold’s Upside Target
By: Przemyslaw Radomski, CFA

Dollar Crisis
By: Gary Savage

What Gold Needs to Do Now
By: Rick Ackerman

Year-end Rate Hike Once Again Proves To Be Launchpad For Gold Price
By: GoldCore

Asian Metals Market Update: December-14-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain About 1% and 2%
By: Chris Mullen, Gold Seeker Report


GoldSeek Web

Gold & Silver Market Morning: May-25-2015

 -- Published: Monday, 25 May 2015 | Print  | Disqus 

Gold Today –We write this on the bank holiday weekend in the U.K. so no action from there. Asia did very little to the gold price, which held at Friday’s level of $1,204.50. The dollar was stronger today with the euro trading at $1.0979 against the euro and the dollar index standing at 96.32. Ahead of New York’s opening, gold was trading in London at $1,204.50 and in the euro at €1,097.19.


Silver Today – The silver price closed at $17.05 down 15 cents over Friday’s level. Ahead of New York’s opening it was trading at $17.05.


Gold (very short-term)

The gold price should consolidate with a weaker bias, in New York today.


Silver (very short-term)

The silver price should consolidate with a weaker bias, in New York today.


Price Drivers

Friday saw no sales or purchases into or from the SPDR Gold ETF, or any from or into the Gold Trust. The holdings of the SPDR gold ETF are at 715.260 tonnes and at 166.60 tonnes in the Gold Trust.  

On a quiet Monday, what can we expect that could affect the price of gold this week? We believe that the main influence will come from the IMF announcement on the inclusion of the Chinese Yuan in the composition of the Special Drawing Right. It may not happen immediately simply because the Yuan is ‘pegged’ to the dollar and may well continue so for the rest of the year. In October the announcement will be made official as China initiates two-way traffic in Hong Kong in the Yuan. This is part of the build-up to the year’s end when the decisions will be made ‘official after the final announcement in October. Before then we expect a Yuan ‘Gold Fix’ to be set in motion in Shanghai.


While these announcements might be met will a quiet reception, we feel that they will be structural changes that change the shape of the gold market over time. This evolution will affect the day-to-day behavior of the gold price in 2016.                                               




While we do not think that the Greek tragedy will impact the value of the euro until its conclusion, the Finance Minister of Greece has announced that there are no more funds with which to pay the IMF when the next repayment is due. It is becoming clearer now as the ‘negotiations’ move forward with so little action coming from the Greek government, despite their oft repeated statements that a deal will be made soon, that they are convinced that the E.U. finance ministers will, under no circumstances eject them from the euro or the E.U. no matter what. So, all they have to do is wait until they have to default and the E.U. Ministers have to bail them out again. It is simply Greece calling the bluff of the Finance Ministers. So we have to wait until it is officially announced that they have defaulted.


Silver– The silver price is still holding above $17.00, but only just. With the euro price of gold about to move over €1,100, silver will rise with it in the euro. See silver in other currencies and it is performing very well indeed!                                                               






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

Global Gold Price (1 ounce)















Rs. 77,023.48



| Digg This Article
 -- Published: Monday, 25 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 - 2017 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.