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

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Almost 1% and 2% on the Week
By: Chris Mullen, Gold Seeker Report

COT Gold, Silver and US Dollar Index Report - July 20, 2018
By: GoldSeek.com

The Deep State, Trump, and the World
By: Clive Maund

Gold Investment Wanes
By: Adam Hamilton, CPA

The Most Important Charts for Your Gold Stocks Right Now
By: Marin Katusa

The road to war: China’s kryptonite - Part 2
By: Richard (Rick) Mills

GoldSeek Radio Nugget: Bill Murphy and Chris Waltzek
By: radio.GoldSeek.com

NEVER BEFORE SEEN CHARTS: Gold Mining Industry’s Costs Are Higher Than Market Realizes
By: Steve St. Angelo

Powell Sinks Gold, Again
By: Arkadiusz Sieron

Weekly Digest – News, Market Updates and Videos You May Have Missed
By: GoldCore

 
Search

GoldSeek Web

 
Gold and Silver Market Morning: Nov-5-2015


 -- Published: Thursday, 5 November 2015 | Print  | Disqus 

Gold Today –New York closed at $1,107.50 down $10.20 on Wednesday. In Asia it rose to $1,110.00 before London opened. The LBMA price setting fixed it at $1,107.30 down from $1,118.00 yesterday. The dollar Index was stronger yesterday and rose to 97.94 up from 97.36 at the close of New York. The dollar was stronger at $1.0861 up from $1.0931 against the euro.  In the euro the fixing was €1,019.71 down from €1,023.25.  At New York’s opening gold was trading in the euro at €1,021.56 and at $1,111.15. 

 

Silver TodayThe silver price closed at $15.09 down 20 cents over Wednesday’s close. At New York’s opening, silver was trading at $15.07.

 

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

 

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

 

Price Drivers

Technically, the gold price is pointing lower. But still we remain in a high risk area with the possibility of a hefty bounce.

 

Tuesday saw sales from the SPDR gold ETF of 6.199 tonnes making over 16 tonnes sold this week but nothing was sold from the Gold Trust leaving their holdings at 680.105 tonnes and at 160.30 in the Gold Trust. These sales were sufficient to cause such an ongoing fall in the gold price and if they continue, expect more falls.  On top of that the Commercials are short again.

 

What investors and traders should be working out now is the impact of the arriving Yuan Gold Fixing in Shanghai. Bear in mind that it is entirely a physical market with only a minor influence from Futures and Options trading. If, for instance, Futures and Options positions are taken out on a delivery basis then whoever is left holding the position will have to deliver. So who will be left holding the baby as maturity approaches. For sure, speculators who have no intention of delivering will ensure they are out well before maturity. This will lessen the impact of COMEX on the gold price. The arbitrage trade between the two centers will blossom and further squeeze the influence of both London OTC trading and New York’s COMEX. With gold likely to return to a greater role in a multi-currency system we would expect developed world selling by institutions to be curtailed so as to keep hold of the gold they have.

 

The acceptance of the Yuan in the basket of currencies making up the SDR will be the trigger for such developments detailed above.- Subscribe www.goldForecaster.com  [See a site where protection from confiscation is offered:   www.Stockbridgemgmt.com ]

 

Silver Silver prices continue to be high risk and volatile today. - Subscribe www.SilverForecaster.com ]       

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Thursday

Franc

Sf1,106.43

Sf1,107.96

US

$1,111.15

$1,118.30

EU

€1,021.56

€1,023.19

India

Rs.72,974.78

Rs. 73,233.91

China

Y 7,040.25

Y 7,085.88

 


| Digg This Article
 -- Published: Thursday, 5 November 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 - 2018



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.