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

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

Year-end Rate Hike Once Again Proves To Be Launchpad For Gold Price
By: GoldCore

Asian Metals Market Update: December-14-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain About 1% and 2%
By: Chris Mullen, Gold Seeker Report

Bitcoin Total Wipeout Alert
By: Clive Maund

Ira Epstein's Metals Video 12 13 2017
By: Ira Epstein

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Friday, 31 July 2015 | Print  | Disqus 

Gold Today –On Wednesday New York closed at $1,088.10 down $9.10. The dollar was unchanged at $1.0964, with the dollar Index almost the same at 97.36. This morning the LBMA gold price was set at $1,080.05 down $5.60. The euro equivalent was €985.09 down €4.34 on yesterday. Ahead of New York’s opening, gold was trading in London at $1,081.00 and in the euro at €986.31.

 

Silver Today – The silver price closed at $14.74 down 8 cents in New York. Ahead of New York’s opening it was trading at $14.57.

 

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

 

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

 

Price Drivers

There were no sales from the SPDR gold ETF but sales of o.63 of a tonne from the Gold Trust yesterday. The holdings of the SPDR gold ETF are at 680.154 tonnes and 162.92 tonnes in the Gold Trust. We note that the ‘bear raid’ has not continued, but today being a Friday may see another attempt at dumping gold in China on their Monday? 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].  

 

There is no news to send the gold price to lower levels or to send it higher for that matter, so dealers are taking the gold price the way of least resistance. It is a Friday the day when most moves are seen in the gold price and traders cut their positions so as not to have three days of risk. Currencies are stable, but equity and bonds favor the downside too. But with the Technical picture not looking good, it is understandable the traders favor the downside.

 

In discussing the gold price with those of other countries, we asked them the gold price and they quoted a dollar price. We then asked them what did the gold price do in your currency and they were amazed to not how much it had climbed. And that’s as much the point as anything else. Gold and the dollar have risen against other currencies over the last two years after the major fall in the dollar in 2013. But looking ahead we see the Technical picture does point to a dollar ‘bull’ market [we have already seen it rise from $1.40 to $1.107] and some may feel the dollar will rise a lot more against all currencies. But then one looks at the ‘interests’ of the U.S.A. and they are not in line with a dollar going much stronger. Are these interests powerful enough to halt the dollar’s climb? We think so.

 

What’s more, with the Chinese Yuan set to come onto the monetary scene in full force by the end of 2015 [with the likelihood that some time after its arrival it is headed lower] the U.S. will be most unhappy to see the dollar much stronger. This implies a volatile fourth quarter for currencies and for gold and silver!

 

Silver– Silver will run lower faster than gold now.   Subscribe www.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,041.60

Sf1,054.99

US

$1,081.00

$1,087.00

EU

€986.31

€992.11

India

Rs.69,338.04

Rs. 69,616.92

 


| Digg This Article
 -- Published: Friday, 31 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.