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

Exploration Update: Golden Arrow’s Pescado Project
By: Nicholas LePan, SilverSeek.com

GoldSeek Radio Nugget: Charles Hughes Smith and Chris Waltzek
By: radio.GoldSeek.com

Strap Yourself In - We Are About To See Some Big Moves In Metals
By: Avi Gilburt

Visit the Top Blockchain and Cryptocurrency Power Hubs of the World
By: Frank Holmes

Gold’s Upside Target
By: Przemyslaw Radomski, CFA

Dollar Crisis
By: Gary Savage

What Gold Needs to Do Now
By: Rick Ackerman

Year-end Rate Hike Once Again Proves To Be Launchpad For Gold Price
By: GoldCore

Asian Metals Market Update: December-14-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain About 1% and 2%
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
Gold & Silver Market Morning


 -- Published: Friday, 4 September 2015 | Print  | Disqus 

Gold Today –On Thursday New York closed at $1,125.40 down $8.20. The dollar was stronger at $1.1140 down from $1.1335 at the close, against the euro, with the dollar Index stronger at 96.34 up from 95.91 yesterday. The LBMA gold price was set at $1,125.00 down $5.05 today. The euro equivalent was €1,010.01 up €3.15. Ahead of New York’s opening, gold was trading at $1,123.30 and in the euro at €1,008.62. 

 

Silver Today – The silver price closed at $14.69 the same as yesterday’s close in New York. Ahead of New York’s opening today it was trading at $14.68.

 

Gold (very short-term) The gold price will consolidate with a weaker bias, in New York.    

 

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

 

Price Drivers

New York continues to push the gold price down in the absence of Chinese demand. We note the silver is not following this path but is moving to a very tight trading band usually synonymous with behavior ahead of a strong move either way.

 

With the employment figures about to be announced in the U.S. later today markets are bracing to move on their release. A figure of 220,000 is expected. Lower than 200,000 would disappoint, but over 220,000 would see a September interest rate hike move into view, according to the markets. We note that the Fed was clear that they are looking for upward pressure on wages and inflation so that they are certain the recovery really has gained traction and the prospect of 2% inflation is coming into view. But the most important feature for gold is the impact on the dollar today’s announcement will have. If the dollar is stronger [while China is closed] there will be downward pressure on the gold price again, today.

 

But with China back in the gold business from Monday on, we expect upward pressure to return to the gold price.

 

The announcement from the E.C.B. yesterday confirmed that they were willing and able and implementing more Q.E. This was the main reason for the fall of the euro. But the fall was limited to 1 cent against the dollar, far less than we think the E.C.B. wanted. The E.U. would love to see the euro trading at parity with the dollar, but it is doubtful that the U.S. would want that. We don’t see Q.E. as the panacea for a recovery in the E.U. It may even have ‘shot its bolt’ already. If Q.E. has failed to do it by now with a weaker euro, why should another dose do it? - Subscribe www.goldForecaster.com  [See a site where protection is offered for gold owners:   www.Stockbridgemgmt.com ]

 

There were no purchases or sales from or to the SPDR gold ETF or the Gold Trust, yesterday. This leaves the holdings of the SPDR gold ETF at 682.595 tonnes and 161.14 tonnes in the Gold Trust.

 

Silver– Silver will be stronger than gold today. Subscribe www.SilverForecaster.com         

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,094.71

Sf1,095.78

US

$1,123.30

$1,129.15

EU

€1,008.62

€1,006.15

India

Rs.74,682.60

Rs. 74,755.38

China

Y 7,139.58

Y 7,176.76

 


| Digg This Article
 -- Published: Friday, 4 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.