Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Rocket Time For Gold
By: Stewart Thomson

A golden escape
By: Richard (Rick) Mills

Does Gold Like Acronyms? The Golden Story of SPX, CPI, and IMF
By: Arkadiusz Sieron

Gold Resource Corporation Reports Preliminary Third Quarter Production of 6,411 Gold Ounces and 321,590 Silver Ounces Maintaining 2018 Annual Outlook
By: Gold Resource Corporation

Of What Am I Now Certain?
By: Avi Gilburt

October Doesn't Disappoint: Volatility Is Back After a Tranquil Third Quarter
By: Frank Holmes

Lower Yields Are Bulls' Best Bet
By: Rick Ackerman

Poland Raises Gold Holdings to Record High in September – IMF
By: GoldCore

Asian Metals Market Update: Oct 16 2018
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain While Stocks Drop Again
By: Chris Mullen, Gold Seeker Report


GoldSeek Web

Gold and Silver Market Morning: Sept-29-2015

 -- Published: Tuesday, 29 September 2015 | Print  | Disqus 

Gold Today –New York closed with the gold price at $1,131.80 barely changed on yesterday’s close. Asia saw prices slip back to $1,127 yesterday. The dollar was weaker at $1.1224 and the dollar index a little lower at 95.96. In London’s morning the LBMA gold price was set at $1,124.60 sitting at midpoint of its consolidation pattern. In the euro this was €1,000.49 down €13.  Ahead of New York’s opening gold was trading at $1,127.10 and in the euro at €1,004.50. 


Silver TodayThe silver price closed at $14.59 down a heavy 49 cents over Monday in New York. Ahead of New York’s opening silver was trading at $14.57.


Gold (very short-term)

The gold price should consolidate today, in New York.    


Silver (very short-term)

The silver price should consolidate today, in New York.


Price Drivers

With the gold price back in consolidation mode it is forming a pattern of higher lows, showing a few strong hormones today. On Monday, there were no purchases or sales from either the SPDR gold ETF or the Gold Trust. This leaves the holdings of the SPDR gold ETF at 684.141 tonnes and 160.29 tonnes in the Gold Trust.


What we are seeing now is a set of global markets fearful of a breakdown in prices. As prices fall, not just in commodities, but equity markets, we become very aware of the massive levels of debt that is sitting in the hands of individuals, corporates, governments’ et al. Because of this we see occasional collapses of value as this becomes recognized. Glencore, the mining giant and broker has seen its share prices buckle in Australia today. With debt twice the level of its market capitalization, their situation well expresses the fears sensitizing the markets at all levels. The commodities sector does not look as though it is going to recover for a very long time. This includes U.S. oil companies trying to persuade their regulators that their debt levels are sustainable as oil prices could fall further.


With Asia slowing still, sluggish growth in the U.S and barely visible growth in the E.U., while Japan is back in deflation, the ability to repay debt is now a global concern.  At what point does this buckling become contagious?


In this context it is different for gold and silver. While they continue to consolidate they are moving as a monetary asset [both cash internationally and a global asset].  To us it is reminiscent to 2008 when gold fell back from its high of $1,200 as markets collapsed, before moving up to its peak of $1,921. The big questions remains, “Are we about to see a situation similar to 2008?” Certainly global market moods are pointing that way.  


More in our newsletter - - Subscribe  


[See a site where protection from confiscation is offered to gold owners: ]


Silver Silver fell heavily on the disappointment that gold did not stay above $1,140. We see it returning to moving closely with gold today. Subscribe         



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


Global Gold Price (1 ounce)















Rs. 74,797.84


Y 7,172.75

Y 7,227.76


| Digg This Article
 -- Published: Tuesday, 29 September 2015 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2018 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of 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 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, its affiliates or advertisers. 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, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.