Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Roughly 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 12 1 2017
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - December 15, 2017
By: GoldSeek.com

Gold Bullish on Fed Hike 2
By: Adam Hamilton, CPA

Europe, Brexit and the credit cycle
By: Alasdair Macleod

WGC: 2018 Set To Be A Positive Year For Price of Gold and Investors
By: GoldCore

GoldSeek Radio Nugget: John Embry and Chris Waltzek
By: radio.GoldSeek.com

Basing Phase Ending
By: Gary Savage

AlphaZero for President
By: George Smith

Ira Epstein's Metals Video 12 14 2017
By: Ira Epstein

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Monday, 22 June 2015 | Print  | Disqus 

Gold Today –New York closed at $1,193 down $9.10. We do not believe that this was to do with Greece. The gold price was set this morning at $1,193.70 with the dollar at $1.1354 slightly weaker than Friday and the dollar index stood at 94.19, not far different from Friday’s level. The euro equivalent was €1,051.35 down €7.55. Ahead of New York’s opening, gold was trading in London at $1,193.60 and in the euro at €1,051.68.

 

Silver Today – The silver price fell to $16.10 down 10 cents in New York. Ahead of New York’s opening it was trading at $16.17.

 

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

The gold price was strong towards the end of last week resting above $1,200 and now on $1,190. While it is still in no-man’s land, if anything it is pointing up, but we wait to see just how the precious metal’s market is going to react if there really is a conclusion to the tragedy. As you can see from above, the gold and silver prices have fallen back to where they rose from on Thursday. Short covering rallies are usually short-lived unless other factors contribute to the rise. In line with this the month end is coming up and positions are often closed then reopened in the new month.

 

Today marks the day when the Greek Tragedy is concluded, so we are told in the media. Greece has forwarded another set of proposals and the media is saying a deal is most likely today. We would prefer to keep quiet and see what happens. The market in gold and silver is doing just the same and marking time before we see a strong reaction.

 

With Greece making these last minute proposals, the E.U. is placed in a position that if it rejects them, the E.U. will look the villain. As this is primarily a political issue the markets are really waiting to see if the fat lady really is going to sing. The re-adjustment in prices today really illustrates that it is the dollar market that is dictating prices not the Greek situation. We don’t see Greece causing an effect until a conclusion is reached.

 

There were no sales or purchases of gold from or into the SPDR gold ETF but a purchase of 0.78 of a tonne into the Gold Trust on Friday. The holdings of the SPDR gold ETF are at 701.897 tonnes and at 167.01 tonnes in the Gold Trust.                  Subscribe www.goldForecaster.com

 

Meanwhile, gold demand in China remains robust while demand in India is in its quiet time for the year. With urbanization continuing in India at a rapid pace, demand in this seasonally quiet time is higher than normal.

 

Silver– Silver is tied to gold tightly today.          Subscribe www.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,095.55

Sf1,119.17

US

$1,193.60

$1,202.00

EU

€1,051.68

€1,062.31

India

Rs.75,811.50

Rs. 77,051.78

 


| Digg This Article
 -- Published: Monday, 22 June 2015 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com 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 GoldSeek.com. 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 GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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 GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.