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

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

GoldSeek Radio Nugget: Charles Hughes Smith and Chris Waltzek

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


GoldSeek Web

Gold and Silver Market Morning: Oct-8-2015

 -- Published: Thursday, 8 October 2015 | Print  | Disqus 

Gold Today –New York closed with the gold price at $$1,145.60 down from $1,146.80 yesterday in New York. Ahead of London’s opening the price moved down to $1,142 as recorded in London. China is open today. The gold price was set at $1,143.30 down from $1,147.90 at the LBMA gold setting. The dollar Index was down at 95.15 from 95.47 and the dollar was trading against the euro at $1.1305 down from $1.1254. In the euro the fixing was €1,011.32 down from €1,019.87.  Ahead of New York’s opening gold was trading at $1,144.75 and in the euro at €1,012.61. 


Silver TodayThe silver price closed at $16.02 up from $15.80 up 22 cents over yesterday’s close. Ahead of New York’s opening, silver was trading at $15.67.


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

The Shanghai Gold Exchange reopened today after the week long holiday, but its activity has not yet fed through to the gold price as developed world markets continue to dominate gold prices. In London and New York the current consolidation pattern is almost complete and a strong move either way is close. These days, with High Frequency Trading, this means high volatility. With the liquidity of the physical gold market falling uncomfortably we do expect dealers to turn their attention to physical prices from COMEX prices, as conditions tighten in the physical market.  The result may well be a move of greater proportions than we have seen for some time! [More in our newsletter

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


There were sales of 1.787 tonnes from the SPDR gold ETF but no activity in the Gold Trust. This leaves the holdings of the SPDR gold ETF at 687.196 tonnes and 160.62 tonnes in the Gold Trust.


Further to our comment on the Yuan steadily moving into a strong position in international trade, yesterday, China has announced it has opened a payments clearing system for the Yuan. Why is this important? Because we are seeing an acceleration of the pace of the internationalization of the Yuan. This will, eventually change the monetary system into a multi-currency system. With this comes a disruption in currency markets, which we then see as needing gold as a calming asset. Such a change in Gold’s role will lead to growing demand for it, at a time when its availability is lessening considerably. Most thought this path would be a decade long one, but as we now see, the next couple of years will see that happen, if this pace keeps up.


Silver Silver pulled back strongly this morning by 30 cents. This well describes just how volatile the silver price can be. If demand comes in on COMEX for silver again it will sprint higher very quickly. This is no market for widows and orphans.


In Switzerland silver is treated as a commodity attracting 8% Value Added Tax, making physical dealings come with a much higher risk than gold, there. - Subscribe ]        



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


Global Gold Price (1 ounce)















Rs. 74,676.26


Y 7,270.31

Y 7,307.81


| Digg This Article
 -- Published: Thursday, 8 October 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 - 2017 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.