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 Closing Report: Gold and Silver Close Slightly Lower
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 16 2018
By: Ira Epstein

Volatility Breeds Contempt
By: Michael Ballanger

Rocket Time For Gold
By: Stewart Thomson

A golden escape
By: Richard (Rick) Mills

Does Gold Like Acronyms? The Golden Story of SPX, CPI, and IMF
By: Arkadiusz Sieron

Gold Resource Corporation Reports Preliminary Third Quarter Production of 6,411 Gold Ounces and 321,590 Silver Ounces Maintaining 2018 Annual Outlook
By: Gold Resource Corporation

Of What Am I Now Certain?
By: Avi Gilburt

October Doesn't Disappoint: Volatility Is Back After a Tranquil Third Quarter
By: Frank Holmes

Lower Yields Are Bulls' Best Bet
By: Rick Ackerman


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Wednesday, 27 May 2015 | Print  | Disqus 

Gold Today –New York closed at $1,187.70down $6 on yesterday after another opening effort in New York to drive the gold price down on the back of a stronger dollar. Today sees the dollar holding at $1.09 against the euro with the dollar index at 97.00. Asia saw gold moving to $1,190 ahead of London’s opening. The LBMA Gold Price was set at $1,187.85 and the equivalent euro price was €1,089.87. Ahead of New York’s opening, gold was trading in London at $1,186.20 and in the euro at €1,090.56.


Silver Today – The silver price fell back to $16.74 down 3 cents in New York. Ahead of New York’s opening it was trading at $16.68.


Gold (very short-term) The gold price should look for a bottom, in New York today.


Silver (very short-term) The silver price should look for a bottom, in New York today.


Price Drivers

Tuesday saw purchases of 0.597 tonnes into the SPDR Gold ETF, but no movement in the Gold Trust. The holdings of the SPDR gold ETF are at 715.857 tonnes and at 166.60 tonnes in the Gold Trust.  


As a forerunner to the expected IMF announcement on the inclusion of the Chinese Yuan into the basket that makes up the IMF’ Special Drawing Right, the IMF has announced that the Chinese Yuan is no longer ‘undervalued’. The next statement should include that it is a “well used currency”. Thereafter we expect a fuller announcement on its inclusion in the SDR. At the same time the Chinese Premier concludes his ‘empire building’ trip around the world.  Such quiet building of the Chinese sphere of influence appears to be being largely ignored. However, it is very significant for gold. Why, because China has made and is making a huge effort to buy and find gold as well as develop the Shanghai Gold Exchange into the global hub for gold. Its attitude to gold is very different to that of the developed world where gold, while an important reserve asset, is kept in the background behind national currencies, with the dollar atop the currency mountain.  China clearly does not want to be dependent on this mountain, while being included in it. It is moving gold to a far more active role in their monetary system. All investors should be asking why. The rise of China is not simply the rise of an emerging country it is taking power and wealth from the west. There are clear divisions between China and the developed world at the same time. These are likely to grow. Extrapolate these currents and it is clear that gold will find a far more active role in the future in the global monetary system in a far more turbulent world, which remains weakened by the 2008  ‘credit crunch’ and not in a position to undergo the financial turbulence that comes in a divided world.


These are soon to become historic times for gold and for the global monetary system.  The turbulence in the global currency markets as the dollar surges and the euro wanes alongside a Yen at new lows, are symptomatic of what lies ahead.                          Subscribe


Silver– The silver price has dipped to the bottom end of support but remains there. As we said yesterday it seems to be ignoring supports and resistance levels and like gold, not sticking strictly to what the Technical picture tells us will happen.                  Subscribe




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


Global Gold Price (1 ounce)















Rs. 76,453.71


| Digg This Article
 -- Published: Wednesday, 27 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.