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

GoldSeek Radio Nugget: Gerald Celente and Chris Waltzek

Signal vs. Noise in the Gold Market
By: Jordan Roy-Byrne CMT, MFTA

Chinese Gold Market: Still in the Driving Seat
By: Ronan Manly

Financial Terrorism In The UK – Collusion between Government, Regulators and Two Bailed-Out UK Banks
By: GoldCore

Gold Seeker Closing Report: Gold Erases Early Losses to End Unchanged
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 7 18 2018
By: Ira Epstein

Housing Market Collapse 2.0 Has Begun
By: David Haggith

Will the Fed’s Tightening Trigger Another Crisis?
By: Arkadiusz Sieron

Merk Research - U.S. Equity Markets
By: Axel Merk

No currency manipulation by China’s government, yet
By: Steven Saville


GoldSeek Web

Gold and Silver Market Morning: Oct-22-2015

 -- Published: Thursday, 22 October 2015 | Print  | Disqus 

Gold TodayNew York was trading at $1,171.70 on Thursday after closing at $1,170.20 on Monday. The LBMA price setting fixed it at $1,166.40. The dollar Index has risen and now stands at 95.92 against 94.61 last Friday and the dollar was trading against the euro at $1.1182 up from against last Friday’s $1.1354. In the euro the fixing was €1,043.10 up from €1,035 last Friday. At New York’s opening gold was trading in the euro at €1,046.45 and at $1,169.35.

Silver Today – The silver price closed at $15.71 on Wednesday down from $16.13 last week. At New York’s opening, silver was trading at $15.86.

Gold (very short-term) The gold price will consolidate today, in New York.

Silver (very short-term) The silver price will consolidate today, in New York.

Price Drivers

This report comes to you after being away from our desk for the last three days. Since then gold and silver retreated to support and remains just above it. But gold in the euro is very strong as the dollar moved up. The Technicals continue to look very good in all currencies including the dollar.

Again we reiterate the gold market is split in two parts with New York being followed by London reflecting U.S. sentiment on COMEX and the physical market in which Asia more than dominates having little to no impact on the gold price.

The U.S. market has now turned up, convincingly. We have long pointed out that if the Shanghai market and western gold markets develop an effective arbitrage market, Shanghai would dominate the gold price. We are now seeing two more steps down that road.

The CME Group and China Construction Bank will now begin the physical delivery of Renminbi for new futures contracts in London. The futures contracts will be listed on CME Group's European exchange, CME Europe. China Construction Bank is Beijing's official clearing bank in London, making the Yuan available internationally, as it pushes for formal reserve currency status. This bank has now joined the LBMA gold price setting. We expect more Chinese banks to join the precious metal price setting LBMA process in the future. While the Yuan trading comes with a greater arbitrage of precious metals between Shanghai and London, we see the gold and silver prices moving to being in synch in a global market in the near future.- Subscribe [See a site where protection from confiscation is offered: ]

There has been a sale of 2.68 tonnes since Friday from the SPDR gold ETF but a purchase of 1.08 tonnes into the Gold Trust. The holdings of the SPDR gold ETF are at 697.322 tonnes and 162.83 tonnes in the Gold Trust.

SilverSilver will mark time until gold rises. - Subscribe ]


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

Global Gold Price (1 ounce)














Rs. 76,559.48


Y 7,434.72

Y 7,504.52

| Digg This Article
 -- Published: Thursday, 22 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 - 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.