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 End Slightly Lower
By: Chris Mullen, Gold Seeker Report

Are You Ready For The Next Rally?
By: Craig Hemke

Long Term Patterns in Stocks, Gold and Crude
By: Gary Christenson

Exploration Update: Golden Arrow’s Pescado Project
By: Nicholas LePan, SilverSeek.com

GoldSeek Radio Nugget: Charles Hughes Smith and Chris Waltzek
By: radio.GoldSeek.com

Strap Yourself In - We Are About To See Some Big Moves In Metals
By: Avi Gilburt

Visit the Top Blockchain and Cryptocurrency Power Hubs of the World
By: Frank Holmes

Gold’s Upside Target
By: Przemyslaw Radomski, CFA

Dollar Crisis
By: Gary Savage

What Gold Needs to Do Now
By: Rick Ackerman

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Thursday, 30 July 2015 | Print  | Disqus 

Gold Today –On Wednesday New York closed at $1,097.20 up another $1.60. The dollar was a cent stronger at $1.0963, with the dollar Index stronger at 97.31 up from 96.64. This morning the LBMA gold price was set at $1,085.65 down $1.10. The euro equivalent was €989.43 down €1.80 on yesterday. Ahead of New York’s opening, gold was trading in London at $1,087.00 and in the euro at €992.11.

 

Silver Today – The silver price closed at $14.82 up 14 cents in New York. Ahead of New York’s opening it was trading at $14.67.

 

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

 

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

 

Price Drivers

After the Fed’s almost neutral announcement after its 2-day meeting the dollar went stronger and dealers marked down the gold price in line with that strength. It had rallied initially after the FOMC statement which did not refer to any timing for a rate hike, but the media continues to  quote Janet Yellen confirming there would be a rate hike this year. Despite the inadequacies of the ongoing guessing of the timing of a rate hike, it persists and dealers adjust their books slightly, so as not to be caught off guard. Hence the move down in gold is entirely due to currency considerations. There have been no sales or purchases of gold into or from the SPDR gold ETF or Gold Trust. Subscribe www.goldForecaster.com  [See our new gold buying, transferring and storing website: www.Stockbridgemgmt.com ] [We have produced an article on the bear raid and gold market reactions in the Gold Forecaster’s latest issue. If you subscribe now and ask for this article we will let you have it]. The holdings of the SPDR gold ETF are at 680.154 tonnes and 163.55 tonnes [down 0.30 of a tonne] in the Gold Trust.    

 

A trader in Chinese shares that specialized in shorting them, had to leave the country and a colleague of his was imprisoned some time ago.  This amply demonstrates the dangers of going against government policy in China. With the crash in share prices there and the government’s support for the share now more than visible, many feel that the opportunities there are now to the upside. Our comment that it may well be arms of government that have picked up the gold dumped in China two weeks ago, may well carry implications for the downside on the gold price. If it did indeed happen, then we do not expect much more selling in the bear raid manner in the future. We are watching with great interest to see if more attempts will be made to hammer the gold price soon.

 

If they don’t then we can expect that any positive news for gold will have a positive impact on the gold price.

 

Silver– Silver is now in line with gold in its movements.     Subscribe www.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,054.99

Sf1,053.94

US

$1,087.00

$1,096.20

EU

€992.11

€991.63

India

Rs.69,616.92

Rs. 69,986.89

 


| Digg This Article
 -- Published: Thursday, 30 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.