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

Gold Seeker Closing Report: Gold and Silver Gain Roughly 2% After Fed
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 21 2018
By: Ira Epstein

SSR Mining begins drilling at Eagles Plains (TSX-V: EPL) Fisher Gold Property
By: Nicholas LePan,

JPMorgan's Domination of COMEX Silver
By: Craig Hemke

Can Central Banks Manage the Deflation of an Everything Bubble?
By: Graham Summers

No, gold leased from central banks doesn't always have to be returned
By: Chris Powell

Why the World’s Central Banks hold Gold – In their Own Words
By: Ronan Manly

WATCH OUT BELOW: Dow Jones Index Next Stop… 19,000
By: Steve St. Angelo

Additional Signs for PMs Amid Increasing FOMC Tension
By: Przemyslaw Radomski, CFA

Credit Concerns In U.S. Growing As LIBOR OIS Surges to 2009 High
By: GoldCore


GoldSeek Web

Gold and Silver Market Morning: Nov-2-2015

 -- Published: Monday, 2 November 2015 | Print  | Disqus 

Gold Today –New York closed at $1,141.50 on Friday down from $1,145.80 on Thursday. It held that level in Asia before London opened. The LBMA price setting fixed it at $1,135.80 down from $1,147.75 on Friday. The dollar Index has risen and now stands at 96.80 down from 97.11 on Friday. The dollar was weakening this morning as London opened, trading against the euro at $1.1025 down from $1.0993.  In the euro the fixing was €1,030.20 down from €1,041.75.  At New York’s opening gold was trading in the euro at €1,032.87 and at $1,137.60. 


Silver TodayThe silver price closed at $15.52 down 8 cents on Friday. At New York’s opening, silver was trading at $15.42.


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

Friday saw small sales from the SPDR gold ETF of 2.084 tonnes and of 0.66 of a tonne from the Gold Trust leaving their holdings at 692.60 tonnes and at 161.33 in the gold Trust. In quiet trade this may have accelerated the fall of the gold price in both the dollar and the euro.


After rising to €1,050, the gold price has pulled back to €1,030, but still well above the below-€1,000 seen a month ago. Nevertheless, Friday continued to see support damaged with gold falling through that level. The Technicals are now in no-man’s land, below $1,060 and yet above $1,030. The downside risk appears limited unless gold falls through $1,130.


We have now entered the best time for gold demand in the last two months of 2015 and the first three months of 2016.


But the huge changes now expected come out of China with an announcement expected this month on China’s Yuan becoming one of the currencies that make up the Special Drawing Right of the I.M.F. While this may not be implemented until late 2016 it would be a major step forward for the Renminbi. Likely soon thereafter, we expect an announcement on the establishment of a Shanghai Gold Fix in the Yuan. This unleashes a structural change in the monetary system and the gold markets. We may not see an immediate change in these markets, but overtime will see just how important they are. - Subscribe  [See a site where protection from confiscation is offered: ]


Silver Silver prices are reflecting $ gold price moves despite the different market structure, as always. It demonstrates well the disjoint from fundamental conditions in that market. - Subscribe ]       




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


Global Gold Price (1 ounce)















Rs. 75,526.73


Y 7,209.31

Y 7,355.80


| Digg This Article
 -- Published: Monday, 2 November 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.