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

Gold Seeker Closing Report: Gold and Silver Gain Roughly 2% After Fed
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 21 2018
By: Ira Epstein

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

JPMorgan's Domination of COMEX Silver
By: Craig Hemke

Can Central Banks Manage the Deflation of an Everything Bubble?
By: Graham Summers

No, gold leased from central banks doesn't always have to be returned
By: Chris Powell

Why the World’s Central Banks hold Gold – In their Own Words
By: Ronan Manly

WATCH OUT BELOW: Dow Jones Index Next Stop… 19,000
By: Steve St. Angelo

Additional Signs for PMs Amid Increasing FOMC Tension
By: Przemyslaw Radomski, CFA

Credit Concerns In U.S. Growing As LIBOR OIS Surges to 2009 High
By: GoldCore


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Thursday, 6 August 2015 | Print  | Disqus 

Gold Today –On Wednesday New York closed at $1,085.00 down $3.20. The dollar is slightly weaker at $1.0901 down from $1.0860, with the dollar Index weaker at 97.90 down from 98.12. This morning the LBMA gold price was set at $1,085.00 down from $1,086.50. The euro equivalent was €995.32. Ahead of New York’s opening, gold was trading in London above $1,085.60 and in the euro at €995.69.


Silver Today – The silver price closed at $14.60 up 1 cent in New York. Ahead of New York’s opening it was trading at $14.58.


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

There were sales of 4.769 tonnes from the SPDR gold ETF but none from the Gold Trust on Wednesday. The holdings of the SPDR gold ETF are at 667.934 tonnes and 162.58 tonnes in the Gold Trust. Once again this did not hit the gold price, while yesterday’s slightly stronger dollar moved it down slightly. In China, the gold price continued to move with the developed world’s price of gold. This again tells us that significant tonnages sold from the SPDR gold ETF are being taken off the market easily.


This is important because it shows that the arbitrage trade between New York/London and Shanghai is coping with U.S. outflows of gold keeping the gold price moving relative to currencies, which it should be doing.  The result should be:


-         The eventual removal of the premium over London’s gold price in Shanghai as the market price becomes global.

-         In turn this lowers the power of local speculation that increases volatility, enormously.

-         It also reinforces the pricing power of physical gold markets over paper ones. Banks in the gold trade such as HSBC are finding it easier to ‘lay-off’ risk in China lowering its own exposure to such risks.

-         It should allow underlying trends in the gold market to show through over and above the huge speculative interests in the market, as eastern and western markets come together in a more integrated fashion.


This can only be healthy for the gold market and its structure. It will take some time for the above features to be soundly established in the gold market. The rest of 2015 with its new and old gold events will test these thoughts thoroughly. More on this in our newsletter - Subscribe  [See our new gold buying, transferring and storing website: ]


Silver– Silver is marking time waiting for gold to give direction. Subscribe




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


Global Gold Price (1 ounce)















Rs. 69,625.69


| Digg This Article
 -- Published: Thursday, 6 August 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.