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 Radio: John Embry and Charles Hughes Smith, and your host Chris Waltzek

Amid Bad Fundamentals, Gold Sector Rally May Have Begun
By: Gary Tanashian

Bitcoin Proves You Cannot Have Your Digital Cake and Eat it Too
By: Nathan McDonald

Relief Rally in Gold Mining Stocks
By: Jordan Roy-Byrne CMT, MFTA

The Morgan Report's Weekly Perspective
By: David Morgan

Outlook for gold – 2018
By: Alasdair Macleod

Stephen Poloz Right To Be Worried
By: Peter Diekmeyer

The Yield Curve And The Boom-Bust Cycle
By: Steven Saville

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Roughly 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 12 15 2017
By: Ira Epstein


GoldSeek Web

Gold and Silver Market Morning: Oct-14-2015

 -- Published: Wednesday, 14 October 2015 | Print  | Disqus 

Gold Today –New York closed with the gold price at $$1,168.10 up from $1,162.40 yesterday. In Asia this morning gold rose to $1,173 ahead of London’s opening. London then pulled it back to $1,164 ahead of the LBMA price setting. But physical demand dominated and the gold price was set at $1,173.70 today up from $1,154.40 at the LBMA gold setting. The dollar Index was almost unchanged at 94.65 from 94.76 and the dollar was trading against the euro at $1.14070 down from $1.1390. In the euro the fixing was €1,029.11 up from €1,013.35.  Ahead of New York’s opening gold was trading at $1,167.00 and in the euro at €1,022.97. 


Silver TodayThe silver price closed at $15.90 up 5 cents over Friday’s close. Ahead of New York’s opening, silver was trading at $15.86.


Gold (very short-term)

The gold price will rise today, in New York.    


Silver (very short-term)

The silver price will rise today, in New York.


Price Drivers

Now we have the convincing breakout we were waiting for as Asia and London lifted the gold price over $1,173. We disclose our new targets in our newsletters. - Subscribe  [See a site where protection from confiscation is offered: ]


On the U.S. physical side, we saw no sales or purchases into or from the SPDR gold ETF but a relatively large 1.09 tonne addition to the Gold Trust. We say large because it was nearly a 1% addition to the Trust. The holdings of the SPDR gold ETF remain at 687.196 tonnes and 161.71 tonnes in the Gold Trust.


We seem to be a lonely voice that is negative on the dollar exchange rate going forward, but are borne out by a dollar that has fallen back from its peak of $1.07 to $1.14 today! This is adding to higher dollar gold prices.


A new piece of information that will affect the global economy came out yesterday, from the IEA on the oil market. They see an oversupply situation remaining in the oil market well into 2016. This may keep inflation low [and delay rate hikes still further?] but will put savings into the consumer’s hands across the world, if these prices feed through to the consumer. In many countries where exchange rates on the local currencies have fallen heavily, it won’t, but will ease the burden of weakening currencies. If rate hikes are postponed further, so will equity & bond bear markets. But it solves no global monetary problems.


The attack on ‘Frackers’ in the U.S. through ongoing low oil prices continues and will until that productions is lowered heavily. In addition the Shi’ite oil producers will see Iranian oil come onto the market to put more downward pressure on the oil price. The Sunni producers [Saudi Arabia and producers on the west of the Persian Gulf] will continue to keep production as high as they can as part of the ongoing antagonism between the two sides of Islam. So low oil prices are here to stay.


Silver Silver will rise with the gold price through the $16 area.

- Subscribe         



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


Global Gold Price (1 ounce)















Rs. 75,268.75


Y 7,404.03

Y 7,321.75


| Digg This Article
 -- Published: Wednesday, 14 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.