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

Technical Scoop - Weekend Update October 15 2018
By: David Chapman

Gold Market Update - the 7-year bearmarket phase is over...
By: Clive Maund

Beach Time
By: Larry LaBorde

Don’t Follow Fake News Or Fake Analysts In Metals
By: Avi Gilburt

Consider This Your Final Warning About Gold, For Bulls And Bears Alike
By: Avi Gilburt

GoldSeek Radio: Joseph Grosso, Axel Merk and Brian McEwen, and Chris Waltzek
By: radio.GoldSeek.com

Fascism Perfect Antidote: The Gold Standard
By: Jim Willie CB

Red Hot China Mailbag
By: John Mauldin

Has “It” Finally Arrived?
By: Chris Martenson

Last Week Was Just A Taste Of The Coming Gold Short Squeeze
By: John Rubino

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Monday, 17 August 2015 | Print  | Disqus 

Gold Today –On Friday New York closed at $1,115.20, unchanged on Thursday. The dollar was slightly stronger at $1.1100 down from $1.1142 with the dollar Index weaker at 96.69 down from 96.42 on Monday morning. This morning the LBMA gold price was set at $1,117.30 up $0.55. The euro equivalent was €1,005.67 up €2.44. Ahead of New York’s opening, gold was trading in tight 30 point spread still around $1,121.65 and in the euro at €1,008.22. 

 

Silver Today – The silver price closed at $15.22 down 19 cents in New York on Friday. Ahead of New York’s opening today it was trading at $15.37.

 

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

 

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

 

Price Drivers

Last week the IMF confirmed that the Chinese economy is now the largest in the world. What does this mean for gold and silver investors? With the love for gold the Chinese and other Asian nations have, it means that demand for gold from there will persist and grow all the way. Other Asian demand will follow it alongside the growth in demand from India. We are two weeks from the start of the ‘gold season’.

 

More importantly for global demand for gold and silver it means that the monetary system of the last 60+ years will have to change as China exerts a different force over the global monetary system, making the peaceful currency system we have seen over all these year [Dollar hegemony] weaken and change into a multi-currency system in a more uncertain and unstable world. This brings gold and silver back to an important role in the extreme times we face. We have seen the start of this in the last two weeks. - Subscribe www.goldForecaster.com  [See our new gold buying, transferring and storing operation:   www.Stockbridgemgmt.com ]

 

We have seen sales of 31 tonnes of gold from Paulson’s ETF by the end of June and purchases of 9.15 tonnes by Druckenmiller. These are large funds and not prone to speculation in physical gold sales and purchases. However, there could be advantages to selling COMEX positions alongside such sales, profiting from subsequent price falls, but this would conflict with the big buyers coming into the market. We are inclined to believe that neither of these two funds played speculative games in the last month but that the large bear raids came from other sources.

 

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

Silver– Silver is still 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

Sf1,093.27

Sf1,090.12

US

$1,121.65

$1,119.10

EU

1,008.22

1,001.79

India

Rs.73,254.96

Rs. 72,758.29

China

Y 7,228.25

Y 7,205.38

 


| Digg This Article
 -- Published: Monday, 17 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 - 2018



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.