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

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

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

Bitcoin Total Wipeout Alert
By: Clive Maund

Ira Epstein's Metals Video 12 13 2017
By: Ira Epstein

Hope for the day of deliverance but avoid predicting it
By: Chris Powell

 
Search

GoldSeek Web

 
Gold and Silver Market Morning: Oct-15-2015


 -- Published: Thursday, 15 October 2015 | Print  | Disqus 

Gold Today –New York closed with the gold price at $$1,187.90 up from $1,168.10 yesterday. In Asia this morning gold pulled back to $1,184 ahead of London’s opening. London held it around that level before the LBMA price setting fixed it at $1,183.35. The dollar Index was weaker at 94.04 from 94.65 and the dollar was trading against the euro at $1.1441 down from $1.1390. In the euro the fixing was €1,034.31 up from €1,029.11.  Ahead of New York’s opening gold was trading at $1,184.70 and in the euro at €1,035.31. 

 

Silver TodayThe silver price closed at $16.16 up 26 cents over Tuesday’s close. Ahead of New York’s opening, silver was trading at $16.12.

 

Gold (very short-term)

The gold price will rise further then consolidate at higher levels today, in New York.  

 

Silver (very short-term)

The silver price will rise today, in New York.

 

Price Drivers

The Technical position now looks good. What is positive for gold are the reasons why gold looks strong. We see them as extremely important structurally. We cannot cover these reasons in this daily report as there is not enough space [see newsletters]. What we can say is that a structural change has taken place in the dollar and its relationship to other currencies that will affect the global monetary system for many years to come. It has not been heralded by the media but it doesn’t need to be. The ramifications for gold and silver are enormous. - Subscribe www.goldForecaster.com  [See a site where protection from confiscation is offered:   www.Stockbridgemgmt.com ]

 

On the U.S. physical side, we saw large purchases into the SPDR gold ETF of 7.743 tonnes but only a small amount of o.4 of a tonne into the Gold Trust. It seems U.S. investors, watching the Technical position are now moving into physical gold as well as continuing to cut short positions while increasing long positions. The holdings of the SPDR gold ETF are at 694.939 tonnes and 161.75 tonnes in the Gold Trust.

 

Bear in mind that the ongoing demand for physical gold from the Far East continues. We hear reports of lower demand for gold in India, but find this difficult to accept as smuggled gold comes in unseen and immeasurable at a 10% discount to ‘official’ gold as they are ex-duties. Indians are unfazed by buying such gold, so it is logical that ‘official’ imports of gold should suffer. Nevertheless projections of 900 to 1,000 tonnes will be imported into India through ‘official’ channels this year.

 

In China the continuing rise in Chinese middle classes continues unabated at a projected 10% growth per annum. The People’s Bank of China continues to add to its reserves at levels it deems worthy of publication, although most believe agencies for the central bank are continuously buying gold for China. It is worthy of note that PBoC purchases do not have to be reported via the Shanghai Gold Exchange. So, total imports to China remain opaque, probably higher than reported.

 

Silver Silver will rise with gold but at a faster pace. - Subscribe www.SilverForecaster.com

 

Regards,

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,126.18

Sf1,115.54

US

$1,184.70

$1,167.00

EU

€1,035.31

€1,022.97

India

Rs.76,792.25

Rs. 75,895.85

China

Y 7,518.46

Y 7,404.03

 


| Digg This Article
 -- Published: Thursday, 15 October 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.