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

GoldSeek Radio: Ralph Acampora and CEO Niko Cacos, and Chris Waltzek

The Real Cost of Low-Fee Funds
By: John Mauldin

Equity Management Associates: Reversion to mean would send monetary metals soaring
By: Chris Powell

By: Trey Reik

The Coming Inflation Threat: The Worst Of Both Worlds
By: Charles Hugh Smith

SPX/Gold, 30yr Yields and Yield Curve - Amigos 1, 2 and 3 Updated
By: Gary Tanashian

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


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Friday, 12 June 2015 | Print  | Disqus 

Gold Today –New York closed at $1,181.50 down $4.70.  Today sees the dollar stronger at $1.1189 up from $1.1271 nearly a cent stronger against the euro with the dollar index stronger at 95.40 up from 95.03. The LBMA Gold Price was set at $1,179.25 down $1.25 with the equivalent euro price at €1,053.98 up €6.18. Ahead of New York’s opening, gold was trading in London at $1,181.10 and in the euro at €1,055.26.


Silver Today – The silver price rose slightly to $16.04 up 1 cent in New York. Ahead of New York’s opening it was trading at $15.95.


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


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


Price Drivers

With the currencies continuing to react to the political situation in the E.U. gold is very steady as these currencies react to gold. In other words, currencies are moving against gold while gold continues to move sideways in London and New York. To make a move either way in significant terms will take an event, such as the departure of Greece from the Eurozone.


And today’s news of the day is, once again, Greece, as the IMF walks out of a meeting with Greece stating ‘serious differences’ with the Greek government. Statements that a ‘deal’ was imminent should be ignored from now on. The impression given by the actions of the IMF is that there will be no agreement before a default then Greece will have to settle its much reduced debt via classic Exchange Control regulations on a take it or leave it basis.                Subscribe


Essentially Greece is trying to gain an agreement with creditors on the basis that it is outside the E.U. already. A bankrupt Greece [there are no insolvency courts for nations] has a stronger hand than one begging for relief. As we have said many times before, Greece is already ruined as a debtor no matter what happens. It has nothing to lose by reneging on the debt. Remove that debt and Greece has a surplus. With a Drachma, it may be able to repeat what Iceland has done over the last few years [Iceland is now healthy financially]. History shows that a financially ostracized nation can recover.


On the other hand, the E.U. cannot accede to Greece’s demand or they will have to offer the same to other E.U. weaklings. So a ‘Grexit’ appears, right now, inevitable!


What we find surprising is that the euro appears to be rising on the expectation of a settlement and falling on expectations of a default. The loss of Greece‘s debt is a tiny matter for the overall E.U. so will not damage its financial standing. But the loss of such a weak nation from the E.U. will lead to a stronger euro, so the reverse should be happening.


There were no sales or purchases of gold from the SPDR gold ETF. The holdings of the SPDR gold ETF are at 704.225 tonnes and at 167.01 tonnes in the Gold Trust.  


Silver– Silver is ready to be more volatile once gold starts moving. Subscribe




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


Global Gold Price (1 ounce)















Rs. 75,488.50


| Digg This Article
 -- Published: Friday, 12 June 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.