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 Closing Report: Gold and Silver Fall While Stocks Edge Higher
By: Chris Mullen, Gold Seeker Report

Michael Pento: Epic Stock Market And Fixed Income Bubble Will Not End Well
By: Mike Gleason

100% Bullish Signal for Precious Metals Sector
By: Przemyslaw Radomski, CFA

Jack Chan's Weekly Precious Metals Market Update
By: Jack Chan

SWOT Analysis: Is Gold Set to Rise in 2018?
By: Frank Holmes

The Process Through Which the First Major Central Bank Goes Bust Has Begun
By: Graham Summers

The Dow Gold Ratio
By: Rambus

Friday’s COT Report: A WTF Moment For the Ages?
By: Ed Steer

Finally, Gold Speculators Start To Bail, Setting Up A Big Q1 2018
By: John Rubino

Gold Demand in the Singapore Bullion Market
By: BullionStar

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Wednesday, 8 July 2015 | Print  | Disqus 

Gold Today –New York closed at $1,155.80 down $13.10 with Asia and London holding it there. The dollar was weaker at $1.1038 against the euro from $1.0970 and the dollar Index was lower at 96.45 down from 96.87.  The LBMA gold price was set this morning at $1,154.25 down $12. The euro equivalent was €1,045.71 down €17.22. Ahead of New York’s opening, gold was trading in London at $1,155.10 and in the euro at €1,046.14.

 

Silver Today – The silver price fell to $15.10 down 59 cents in New York. Ahead of New York’s opening it was trading at $15.03.

 

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

 

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

 

Price Drivers

Another deadline, really? This time we might well be there! With the E.U. telling Greece it needs more proposals or that’s it and Greece waiting for a better deal, both sides are preparing for the exit. We would be surprised to see Greece waiting for the death blow to their banks, without rushing Drachma to their banks in time for the financial system to be ‘rescued’. This should happen this weekend. But nothing is predictable on this matter now. Political posturing has taken over.

 

Meanwhile, the equity market rout in China is considerably worse that the west has seen for 88 years. Government measures have not halted the fall which appears to be heading to 50% of its June peak. It’s a bear’s paradise! It will take a long time before confidence in the equity market is restored there.

 

Late in June, 48.33 million grams of gold was traded in a single day on the Shanghai Gold Exchange, [according to the China Times] showing just how strong Chinese demand is and the disjoint between New York/London and Shanghai is in the gold market. This demand for gold has not spilled over into New York or London, yet. With the Bank of China still learning the ropes of being an LBMA member at the price setting we may see the gold price react simply to western market influences and not to fundamentals, for a little while longer still. Could China be pushing prices lower in New York or London? For more - Subscribe www.goldForecaster.com

 

We are at a very critical point on the Technical side.        

 

Since Friday there have been 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 and gold were knocked back yesterday but could have found a bottom at current levels.                                   Subscribe www.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,096.54

Sf1,105.78

US

$1,155.10

$1,166.00

EU

€1,046.14

€1,062.61

India

Rs.73,458.01

Rs. 74,019.00

 


| Digg This Article
 -- Published: Wednesday, 8 July 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.