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: Peter Schiff and Chris Waltzek
By: radio.GoldSeek.com

GLOBAL FINANCIAL BREAKDOWN CONTINUES: Economic Growth Chokes On Massive Debt Increases
By: Steve St. Angelo

Asian Metals Market Update: May-25-2018
By: Chintan Karnani, Insignia Consultants

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

Gold Resource Corporation Declares May Monthly Dividend
By: Gold Resource Corporation

Goldsource Announces Discovery and Additional Exploration Results at Eagle Mountain; 123 metres Grading 1.92 gpt Au
By: Goldsource Mines Inc.

GoldSeek Radio Nugget: Bob Hoye and Chris Waltzek
By: radio.GoldSeek.com

There Is A Lot Of Financial Pain Coming For The United States Of America
By: Avi Gilburt

Ira Epstein's Metals Video 5 23 2018
By: Ira Epstein

June Hike Is Coming. Will Gold Survive?
By: Arkadiusz Sieron

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Tuesday, 1 September 2015 | Print  | Disqus 

Gold Today –On Monday New York closed at $1,135.50 up $1.10. The dollar was stronger at $1.1335 at the close up from $1.1496, against the euro, with the dollar Index weaker at 95.94 down from 96.07 from Monday. The LBMA gold price was set at $1,141.90 today. The euro equivalent was €1,o14.26. Ahead of New York’s opening, gold was trading at $1,143.55 and in the euro at €1,015.54. 

 

Silver Today – The silver price closed at $14.64 up 5 cents over Monday’s close in New York. Ahead of New York’s opening today it was trading at $14.63.

 

Gold (very short-term) The gold price will consolidate ahead of a strong move today in New York.    

 

Silver (very short-term) The silver price will consolidate ahead of a strong move today in New York.

 

Price Drivers

Today London re-opens after the Bank Holiday weekend and we see the beginning of the ‘gold season’. Sometimes it takes a little time before it sparks into life but with European holiday makers back at their desks with carefully nurtured sun tans, the focus turns to the festive season and preparations for it.

 

In India the harvesting is under way bringing tax free profits that find their way into property and gold.

 

Today saw Asia take gold up $7 before London opened. As we detailed yesterday, the gold and silver markets have fundamentals which are going to take it in a direction that is different from most global financial markets. While we do expect the balance of the year to see volatility throughout global financial markets, we see these two precious metals acting very differently. 

 

With confidence in currencies and market stability waning gold & silver performed well in currencies other than the U.S. dollar. This pattern is expected to continue.

 

China wants the Yuan to gain the reputation the dollar currently has, as a central global currency. To that end they have now made it expensive to speculate on the Yuan. With all the controls the Chinese authorities have imposed on their markets, all they have done is to inadvertently reinforce the Chinese faith in gold as a foundational asset for financial security.

 

A lesson from the past shows that in 1933 gold was not confiscated because of the need to boost money supply but to prevent it competing with the dollar, inside the U.S. Today, one government cannot dominate the gold market, leading to a situation where gold is needed as an alternative to currencies in global dealings. As volatility in exchange rates continue, this need will grow! [See our newsletter for more on this - Subscribe www.goldForecaster.com  [See a site where protection is offered for gold owners:   www.Stockbridgemgmt.com ]

 

Yesterday saw no sales or purchases into or from the SPDR gold ETF but a sale of 0.9 of a tonne from the Gold Trust

 

Silver– Silver will follow gold this week. Subscribe www.SilverForecaster.com         

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,100.67

Sf1,092.08

US

$1,143.55

$1,132.80

EU

€1,015.54

€1,010.80

India

Rs.75,764.76

Rs. 75,246.24

China

Y 7,351.77

Y 7,226.24

 


| Digg This Article
 -- Published: Tuesday, 1 September 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.