LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Friday, 14 August 2015 | Print  | Disqus 

 

Gold Today –On Thursday New York closed at $1,115.20 down $8.60. The dollar was slightly weaker at $1.1142 down from $1.1111 with the dollar Index weaker at 96.42 down from 96.58 on Friday morning. This morning the LBMA gold price was set at $1,116.75 up $0.6. The euro equivalent was €1,003.23 down €3.68. Ahead of New York’s opening, gold was trading in a very narrow 30 point spread around $1,119.10 and in the euro at €1,001.79.  

 

Silver Today – The silver price closed at $15.41 down 11 cents in New York. Ahead of New York’s opening it was trading at $15.47.

 

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

 

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

 

Price Drivers

The moves of the Yuan are now under control so we should see a steady Yuan from a while at least. Chinese gold investors have had a sharp reminder of just how gold protects their wealth. Just look at the gold price in the Yuan over the last week! This week we began adding the Yuan price of gold to the table below with the first price at Y6,848.97. Yesterday it stood at Y7,223.07 a rise of 5.46% over the week. It is a reminder to us all that gold has a global market and that its price is only in dollars for reference purposes. Investors in each one’s own world looks at the gold price in his own currency.  For instance, in October 2013 the Rand [South Africa] price of gold was R8,432. Today it is at R14,336 a rise of 70%. Look at the gold price in several of the world’s currencies and it has done well when gold appeared to be falling in the dollar. You may say, well hold dollars. Firstly most people are not allowed to do that without good trade reasons and secondly it would not be in the interests of the U.S. to see the dollar move much stronger than other currencies, for international trade reasons. - Subscribe www.goldForecaster.com  [See our new gold buying, transferring and storing operation:   www.Stockbridgemgmt.com ]

 

There were no sales or purchases in either the SPDR gold ETF or the Gold Trust yesterday leaving the holdings of the SPDR gold ETF at 671.867 tonnes and 161.02 tonnes in the Gold Trust. 

 

With Friday being the day when most action is seen in the U.S. gold market we expect to see U.S. perspectives on gold shown in their action later today. What we ask you to notice is the narrowing of the gold price ‘spread’ from $0.80 to $0.30 between the bid and the ask.  It seems that volumes are higher and dealers appear to see higher prices.

 

Silver– Silver is ready to run. Subscribe www.SilverForecaster.com

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,090.12

Sf1,094.39

US

$1,119.10

$1,117.75

EU

1,001.79

1,005.00

India

Rs.72,758.29

Rs. 72,871.71

China

Y 7,205.38

Y 7,223.07

 


| Digg This Article
 -- Published: Friday, 14 August 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 - 2019



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


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.