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: Ralph Acampora and CEO Niko Cacos, and Chris Waltzek

The Real Cost of Low-Fee Funds
By: John Mauldin

Equity Management Associates: Reversion to mean would send monetary metals soaring
By: Chris Powell

By: Trey Reik

The Coming Inflation Threat: The Worst Of Both Worlds
By: Charles Hugh Smith

SPX/Gold, 30yr Yields and Yield Curve - Amigos 1, 2 and 3 Updated
By: Gary Tanashian

Gold Seeker Weekly Wrap-Up: Gold and Silver Find Slight Gains on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 19 2018
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - October 19, 2018

Gold Is Becoming Cool Again
By: John Rubino


GoldSeek Web

Gold & Silver Market Morning

 -- Published: Wednesday, 12 August 2015 | Print  | Disqus 

Gold Today –On Tuesday New York closed at $1,108.70 up $5.40. The dollar was weaker at $1.1144 down from $1.0978 with the dollar Index also weaker at 96.58 down from 97.46. This morning the LBMA gold price was set at $1,116.80 up $3.55. The euro equivalent was €1,003.23 down €6.29. Ahead of New York’s opening, gold was trading in London $1,117.10 and in the euro at €1,003.28.


Silver Today – The silver price closed at $15.34 up 10 cents in New York. Ahead of New York’s opening it was trading at $15.35.


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


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


Price Drivers

Looking at today’s moves in both gold and the dollar, the Yuan devaluation did not cause these moves. The dollar Index has weakened against most currencies and the euro has jumped stronger. This is reflected in a falling euro gold price. Nevertheless, if the gold price keeps rising in the dollar expect to see a very large process of ‘short covering’ start. 


The People’s Bank of China has changed the Yuan’s pricing from a fixing within a ‘dollar peg’ to a floating rate regime [based on the previous day’s close]. The IMF welcomed this as part of the necessary process to become a ‘well-used-currency’ continuing the process of making it eligible for inclusion in the SDR. This is a tiny devaluation in percentage terms so far at 3.5%. The Yen has fallen nearly 2% this week alone and nearly 65% from its peak of 76 to the dollar. Likewise the euro’s fall from its peak of $1.40 to $1.10 is above a 25% fall. Hence the somewhat hysterical cries of foul are unjustified. We expect further devaluations to come. How much? - More on this in our newsletter - Subscribe  [See our new gold buying, transferring and storing website: ]


Investors should be clear that the world’s monetary system is now undergoing deep structural changes that will turn it into a multi-currency system. While the E.U. and Japan can be considered ‘allies’ of the U.S. China’s interests are very different from the U.S. and the changes will bring about a very much more volatile currency world, where exchange rates are directly linked to the benefits each nation can gain by moving them. Even the U.S. ‘manages’ its currency to this end.


There were no sales from the SPDR gold ETF or from the Gold Trust on Tuesday. The holdings of the SPDR gold ETF are at 667.694 tonnes and 161.38 tonnes in the Gold Trust.  The ‘bear raid appears to be over!


Silver– Silver should accelerate its rise against gold. Subscribe




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


Global Gold Price (1 ounce)















Rs. 71,543.87


Y 7,194.12

Y 7,044.16


| Digg This Article
 -- Published: Wednesday, 12 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 - 2018 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.