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

GoldSeek.com Radio: John Embry and Charles Hughes Smith, and your host Chris Waltzek
By: radio.GoldSeek.com

Gold – WE’RE “CLOSE ENOUGH”
By: Gary Savage

The Dangerous Dream of Secession
By: George Smith

Amid Bad Fundamentals, Gold Sector Rally May Have Begun
By: Gary Tanashian

Bitcoin Proves You Cannot Have Your Digital Cake and Eat it Too
By: Nathan McDonald

Relief Rally in Gold Mining Stocks
By: Jordan Roy-Byrne CMT, MFTA

The Morgan Report's Weekly Perspective
By: David Morgan

Outlook for gold – 2018
By: Alasdair Macleod

Stephen Poloz Right To Be Worried
By: Peter Diekmeyer

The Yield Curve And The Boom-Bust Cycle
By: Steven Saville

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Thursday, 23 July 2015 | Print  | Disqus 

Gold Today –After New York closed at $1,093.90 down $6.30 after closing at $1,100.20 on Tuesday. This morning in Asia the gold price rose back to $1,097 before the LBMA gold price was set at $1,101.65.  The dollar was weaker at $1.0996 after yesterday’s $1.0940 against the euro, with the dollar Index down to 97.03 from 97.28 yesterday. The euro equivalent was €1,001.86 down from €1,002.74 yesterday. Ahead of New York’s opening, gold was trading in London at $1,101.80 and in the euro at €1,001.73.

 

Silver Today – The silver price closed at $14.80 down 1 cent in New York. Ahead of New York’s opening it was trading at $14.87.

 

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 ‘bear raid’ continues with another 2.384 tonnes of gold sold from the SPDR gold ETF on top of the  16 tonnes sold since Sunday night. The Gold Trust saw sales of 0.48 of a tonne yesterday. But there is a difference today. The impact on the gold price was zero as the gold price rose back to $1,097 in Asia. The holdings of the SPDR gold ETF are at 687.309 tonnes and 167.28 tonnes in the Gold Trust. 

 

Retail demand in China is now jumping as it is in India, but it has still to reflect in London’s demand. The price rise in London was mainly due to a weaker dollar. But in both India and China premiums are rising with sales doubling in Hong Kong. Retail demand in these countries needs to feed through to Shanghai before we see this demand damage the ‘bear raid’. One cannot know if the bears will continue their raids or how much gold they have to orchestrate their raids. The triggering of ‘stop loss’ protections has happened but will not continue unless more raiding takes place. How much demand will come from Asia now that it is picking up is key but if it matches the gold arbitraged into China, then the bears will have to cover their short positions. When we have more information we will be able to see where gold and silver are going. Gold coins buyers are rampant!

 

Many feel gold could have had its day, but such views are not those of long-term investors or central banks. With Russia continuing to build its gold reserves buying in its own production it is removing this supply from the global market, much as we believe China is doing. Kazakhstan takes all its local production into reserves and has done for years now. This adds to the reality that market prices in New York and London do not reflect global demand. Subscribe www.goldForecaster.com  [See our new gold buying, transferring and storing website: www.Stockbridgemgmt.com ]

 

Silver– Silver ignored gold’s fall below $1,100 and has done so on its rise back there again. Investors should again ask why?     Subscribe www.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,053.16

Sf1,049.80

US

$1,101.80

$1,114.60

EU

€1,001.73

€1,001.33

India

Rs.70,256.28

Rs. 69,583.87

 


| Digg This Article
 -- Published: Thursday, 23 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.