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: Sept-17-2015


 -- Published: Thursday, 17 September 2015 | Print  | Disqus 

Gold TodayNew York closed with the gold price at $1,119.70 up from $1,105.50. Gold then rose in Asia to $1,121.00. In the euro this was €991.16 up €11.11.  This morning the dollar index started the day at 95.26, slightly lower than the 95.59 of yesterday. The LBMA gold price was set at $1,118.15 up $8.40 from yesterday. The euro equivalent was €988.29 down by €0.31. Ahead of New York’s opening gold was trading at $1,117.55 and in the euro at €987.37. 

 

Silver TodayThe silver price closed at $14.91 up 48 cents on yesterday in New York. Ahead of New York’s opening silver was trading at $14.85.

 

Gold (very short-term)

The gold price is soon to have a strong move either way, in New York.    

 

Silver (very short-term)

The silver price is soon to have a strong move either way, in New York.

 

Price Drivers

Yesterday’s rise was not the strong move we are waiting for as it is within the trading range we expected to see for the gold price.

 

Today, we see the Fed pull the trigger on the direction of all global financial markets, something the besieged Ms Yellen is not happy about at all. Despite all the Fed’s efforts to remove the potential volatility after today’s statements, we expect to see markets volatile whatever she says. The markets are pointing to a 30% chance of a rate rise only. The data, to which Janet Yellen points to as her guide, is not sufficiently strong for a rate hike to be absorbed easily.

 

Meanwhile, until she speaks no market is making significant moves. Likewise, there were no dealings in the SPDR gold ETF or the Gold Trust yesterday. This again leaves the holdings of the SPDR gold ETF at 678.183 tonnes and 159.90 tonnes in the Gold Trust.

 

Over in China the financial authorities are going to regulate and considerably reduce High Frequency Trading, a practice that appears to be being blamed for the disruptive volatility and is deemed unfairly destructive to values. We have no doubt that this will also cover the Shanghai Gold Exchange.

 

Once the Yuan “Fix” is established, which we believe is soon, Yuan gold prices will be less prone to bear raids. We find it hard to believe that China will follow COMEX prices, as London does now. It is more likely that COMEX will follow the Chinese gold prices, particularly if arbitraging gold between the two markets is made efficient! [More on this in our article, “The Yuan Gold Fix is imminent!” in our newsletter - Subscribe www.goldForecaster.com  

 

[See a site where protection is offered for gold owners:   www.Stockbridgemgmt.com ]

 

Silver– Silver jumped nearly 3% yesterday against gold’s 1% showing the potential price performance of silver later. [This newsletter will also carry the above article.  Subscribe www.SilverForecaster.com ]        

 

Regards,

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,083.07

Sf1,082.23

US

$1,117.55

$1,108.90

EU

€987.37

€988.10

India

Rs.73,925.37

Rs. 73,658.68

China

Y 7,116.67

Y 7,064.64


| Digg This Article
 -- Published: Thursday, 17 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 - 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.