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 Gain Roughly 2% After Fed
By: Chris Mullen, Gold Seeker Report

SSR Mining begins drilling at Eagles Plains (TSX-V: EPL) Fisher Gold Property
By: Nicholas LePan,

JPMorgan's Domination of COMEX Silver
By: Craig Hemke

Can Central Banks Manage the Deflation of an Everything Bubble?
By: Graham Summers

No, gold leased from central banks doesn't always have to be returned
By: Chris Powell

Why the World’s Central Banks hold Gold – In their Own Words
By: Ronan Manly

WATCH OUT BELOW: Dow Jones Index Next Stop… 19,000
By: Steve St. Angelo

Additional Signs for PMs Amid Increasing FOMC Tension
By: Przemyslaw Radomski, CFA

Credit Concerns In U.S. Growing As LIBOR OIS Surges to 2009 High
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Fall Before Fed Day
By: Chris Mullen, Gold Seeker Report


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Thursday, 18 June 2015 | Print  | Disqus 

Gold Today –New York closed at $1,187.10 up $5.40.  The dollar is weaker at $1.1387 down 1.2 cents with the dollar index down to 93.87 from 94.90. The LBMA Gold Price was set at $1,198.50 up $19.50 with the equivalent euro price at €1,051.22 up €5.62. This price was higher than pre-setting prices in the market! Ahead of New York’s opening, gold was trading in London at $1,197.60 and in the euro at €1,050.34.


Silver Today – The silver price fell to $16.17 up 15 cents in New York. Ahead of New York’s opening it was trading at $16.28.


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


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


Price Drivers

In the E.U. the mood has changed markedly. Greece is blaming the E.U. and the E.U. is blaming Greece. After disastrous meetings of the Finance Ministers both sides are now behaving as if no deal is possible and acting accordingly. The euro is getting stronger, as we would expect on a Grexit. Greece is making clear it doesn’t have the money to pay the next installments. After all 6 or 7 billion on a debt of €320 billion only postpones more disaster and as the Greeks see it, with a chain around their necks. Suddenly this is not just about Greece. It’s about the future of the E.U. and the euro, which is why global financial markets are riveted to this story. But it is also about the geo-political balance of power, something of greater consequence to the world.


The other most talked about story in global financial markets focused on Janet Yellen, Chairwoman of the U.S. Fed. The statement issued by the Fed confirmed improvements in the U.S. economy, but Janet Yellen used the word ‘sustainable’ growth is needed before the Fed will lift rates in very small steps. She was concerned that wage growth also needed to improve more.


Between these two stories markets saw the dollar weakening and the gold price move higher today.

On the Technical side we continue to note that the picture continues to point downwards, but the reality is that the gold price has moved sideways. The two must meet and raise the question is overhead resistance likely to dominate the sideways movement and force the gold price down or will the sideways movement break overhead resistance and see the gold and silver prices rise? We are very close to that point now!                


Before the conclusion of the Greek debt crisis came so close the euro price of gold fell far more than it did in the dollar. Today sees the euro price of gold dominate the gold price, which is steady in the euro while the dollar price of gold has jumped as the dollar weakened. Seen as currencies moving around the gold price, we get a better perspective.              Subscribe


There were no sales or purchases of gold from or into the SPDR gold ETF or the Gold Trust on Wednesday. The holdings of the SPDR gold ETF are at 701.897 tonnes and at 167.01 tonnes in the Gold Trust.  


Silver– Silver and gold have gained strength overnight.                  Subscribe




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


Global Gold Price (1 ounce)















Rs. 75,635.44


| Digg This Article
 -- Published: Thursday, 18 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 - 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.