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 Nugget: Bill Murphy and Chris Waltzek

Markets Have Gone “Thelma and Louise”
By: Gary Christenson

Debt Cycles and Gold
By: Arkadiusz Sieron

Global Trade War Fears See Precious Metals Gain And Stocks Fall
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Pare Yesterday’s Gains; Dow Drops 700+
By: Chris Mullen, Gold Seeker Report

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

Worried About Rising Rates? I Believe this Strategy Could Be the Answer
By: Frank Holmes

Is It The Trade War Threats Or Extreme Overvaluation?
By: Dave Kranzler

GoldSeek Radio Nugget: Peter Schiff and Chris Waltzek

When Is Three Better for Gold Than Four?
By: Arkadiusz Sieron


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Friday, 17 July 2015 | Print  | Disqus 

Gold Today –New York closed at $1,145.10 down $4.20 with Asia and London holding it there in line with the moves in the dollar against the euro. The dollar was stronger at $1.089 up from $1.0934 against the euro with the dollar Index at 97.54 up from 97.27.  The LBMA gold price was set this morning at $1,143.00 down $2.10 again, in reaction to the rising dollar. The euro equivalent was €1,049.39 down €1.69. Ahead of New York’s opening, gold was trading in London at $1,144.30 and in the euro at €1,050.54.


Silver Today – The silver price fell to $15.01 down 10 cents in New York. Ahead of New York’s opening it was trading at $15.00, again.


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


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


Price Drivers

The gold market continues to see thin trade but yesterday saw the emergence of buyers from Asia as prices in the Rupee in particular began to hit recent lows. But the gold price was shifted in line with the moves in the dollar. In the euro it remained above 1,050. Short positions are still at extremely high levels on COMEX.


We are sorry to say that our expectation that the fat lady had at last sung in the Greek tragedy is now far from correct. The IMF had stated emphatically that the deal is unworkable. The IMF cannot lend to an insolvent state. Germany has stated emphatically that Greece cannot have a ‘debt haircut’ under the rules of the E.U. nor can it have a ‘back door haircut’ by extending the debt out for a generation and with mini-interest rates.  The ECB has given funds to rescue Greece for a short while and stated emphatically that Greece’s place in the Eurozone was ‘never in question’ and that ‘debt relief is ‘uncontroversial’. This horse won’t run! The next month should see a lot of fur flying and a Grexit is not off the table. This raises questions about the euro exchange rate, which is dominating the gold price unreasonably so. The divisions in the Troika are very deep and may take some heavy backing down for them to be resolved. For sure the deal agreed earlier this week is not a done deal. Let’s see what Germany says today. All the world’s eyes are turning back to Greece for the next month if not years. So the gold sold into the market in the belief that the issue was resolved may well find its way back into investor’s hands? We are in important territory for gold from a Technical point of view!


As of the end of June 2015, China’s official gold reserves were 53.32 million ounces (1,658.48 tonnes), the People’s Bank of China announced. This is an increase of 604 tonnes since the last time the central bank updated its figures in 2009.


There were sales of 1.772 tonnes from the SPDR gold ETF and purchases of 0.36 tonnes into the Gold Trust leaving the holdings of the SPDR gold ETF at 707.878 tonnes and 167.76 tonnes in the Gold Trust.  For more - Subscribe


Silver– Silver will follow gold’s direction today.        Subscribe




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


Global Gold Price (1 ounce)















Rs. 72,748.83


| Digg This Article
 -- Published: Friday, 17 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 - 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.