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

Buckle Up For A Golden Ride
By: Stewart Thomson

Mining Stocks Have Not Been Cheaper In The Last 78 Years
By: Dave Kranzler

Prolonged Correction Levels Opened Up
By: Ricky Wen

Revisiting the age-old relationship between interest rates and prices
By: Steven Saville

Rome vs Brussels. Will That Battle Benefit Gold?
By: Arkadiusz Sieron

IMF Warning Highlights Gold’s Importance As A Diversification and Happy Birthday GoldCore
By: GoldCore

Sentiment Is The Most Important Factor Upon Which To Focus In The Gold Market
By: Avi Gilburt

Let's See Bulls Shrug Off 3.6% T-Bond Rate
By: Rick Ackerman

Here's How Hungary Reduced Risk Without Forfeiting Returns
By: Frank Holmes

Ira Epstein's Metals Video 10 22 2018
By: Ira Epstein


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Monday, 6 July 2015 | Print  | Disqus 

Gold Today –New York closed at $1,167 up slightly. Asia and London took it down to $1,164. The dollar was 0.25 of a cent stronger at $1.1029 and the dollar Index was higher at 96.45 up from 95.93.  The LBMA gold price was set this morning at $1,164.25 down $4.00. The euro equivalent was €1,055.67 up €3.00. Ahead of New York’s opening, gold was trading in London at $1,165.60 and in the euro at €1,056.47.


Silver Today – The silver price fell to $15.65 up 6 cent in New York. Ahead of New York’s opening it was trading at $15.60.


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


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


Price Drivers

Last week we said, “Unbelievably the I.M.F. has put its foot in it! The report just issued clarifies that Greece needs to be given 40 yrs to repay its debt and needs lower interest rates and for a portion at least of its debt to be written off if it is to return to growth. Even then it will still have debt to GDP of 150%.” - It seemed that the Greeks understood this and rejected the offer from the E.U. Any negotiations going forward will undoubtedly include these, or more liberal terms for Greece from the Greek side. The E.U. just will not go along with this as the bulk of members will vote against it. We have no doubt that the new Drachmas are already printed and ready to go out to the Greek banks. The E.C.B. will wait for the political OK for it to cut off funding to the Greek banks.


By way of comparison, Argentina, is still in the midst of its debt crisis but an economic recovery, unemployment down to just over 6%, down from 22% seven years ago and using the Peso and not the U.S. dollar. So there is life after default! For gold and silver investors, it is not the Greek crisis that is the issue but the exchange rate of the euro. At first the euro dipped slightly, but with the weakest member likely to exit the E.U. it is likely to go stronger. The E.U. Finance Ministers will show the way forward tomorrow.                                For more - Subscribe


In China it is not the Greek issue that is causing the equity market to fall but the mess being made by the authorities in managing the ‘bull’ market. Likely the average Chinese investor is losing confidence in equity markets and staying with gold. Last week saw a huge 46.1 tonnes of gold withdrawn from the Shanghai Gold Exchange [the official gold import figure].


On Friday there no sales or purchases  of gold from the SPDR gold ETF or the Gold Trust.  The holdings of the SPDR gold ETF are at 709.65 tonnes and at 167.40 tonnes in the Gold Trust.          


Silver– Silver is waiting for gold, which is waiting for currency reactions.   Subscribe




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


Global Gold Price (1 ounce)















Rs. 74,127.80


| Digg This Article
 -- Published: Monday, 6 July 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.