LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines to Launch New Website

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA


GoldSeek Web

Gold and Silver Market Morning: Nov-4-2015

 -- Published: Wednesday, 4 November 2015 | Print  | Disqus 

Gold Today –New York closed at $1,117.70 down $16.60 on Tuesday. In Asia it rose to $1,120.00 before London opened. The LBMA price setting fixed it at $1,118.00 down from $1,130.90 yesterday. The dollar Index was stronger yesterday and rose to 97.36 at the close of New York up from 96.86 yesterday. The dollar was slightly stronger at $1.0931 up from $1.1017 up against the euro.  In the euro the fixing was €1,023.25 down from €1,029.789.  At New York’s opening gold was trading in the euro at €1,023.19 and at $1,118.30. 


Silver TodayThe silver price closed at $15.29 down 14 cents over Tuesday’s close. At New York’s opening, silver was trading at $15.27.


Gold (very short-term) The gold price could move either way strongly today, in New York.    


Silver (very short-term) The silver price could move either way strongly today, in New York.


Price Drivers

Technically, the gold price has broken down through support and yet in Asia it lifted again. The Technicals are not yet clear enough to point a way forward for the gold price. We are in a high risk area now. It could either rally strongly or plunge.


Tuesday saw sales from the SPDR gold ETF of 2.978 tonnes making over 10 tonnes sold this week and a further 0.70 of a tonne sold from the Gold Trust leaving their holdings at 686.304 tonnes and at 160.30 in the gold Trust. These sales were not sufficient to cause such a large fall in the gold price so we must ask why such a fall? We know that exporters of gold to China do not chase prices but accept gold that is offered to them. This means they have little impact on prices allowing prices to fall increasing supply. This increases the influence of speculators and dealers on COMEX on the gold price, which is solely reflective of U.S. opinion on gold prices with little physical gold movement. The result is a distorted market causing prices to behave as they are now. It is not in the interests of Asian buyers to change this scene as they are maximizing physical supply at bargain prices. 


Today the I.M.F. discusses the inclusion of the Chinese Yuan in the currencies that make up the Special Drawing Right. It is a day on which China has placed great importance. Since discussions began, China has complied with the wishes of the U.S. controlled I.M.F. in publishing gold reserves on a monthly basis and keeping the Yuan exchange rate steady against the dollar. This would change if the IMF rejected the Yuan in that role. We expect that a Yuan Gold Fixing will follow soon thereafter, on the Shanghai Gold Exchange. - Subscribe  [See a site where protection from confiscation is offered: ]


Silver Silver prices will move with gold today, as a monetary metal. - Subscribe ]       




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


Global Gold Price (1 ounce)















Rs. 74,345.91


Y 7,085.88

Y 7,173.85


| Digg This Article
 -- Published: Wednesday, 4 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 - 2019 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, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.