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

As Oil Plunges, Energy Junk Bonds Turn Dangerous — Again
By: John Rubino

$2.06 Crude Target Absurd but Useful
By: Rick Ackerman

Asian Metals Market Update: Nov 14 2018
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Hold Steady While Oil Slumps 7%
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 13 2018
By: Ira Epstein

Market Tactics For A Golden Smile
By: Stewart Thomson

A surprise jump in investor and central bank gold demand
By: Michael J. Kosares

The Failure of a Gold Refinery
By: Keith Weiner

Is Silence Golden?
By: Arkadiusz Sieron

Ten Points or Ten Miles to ‘Bridge Out’?
By: Andy Sutton and Graham Mehl


GoldSeek Web

Gold and Silver Market Morning: Nov-9-2015

 -- Published: Monday, 9 November 2015 | Print  | Disqus 

Gold Today –New York closed at $1,088.00 down from $1,103.50 Friday. In Asia it rose to $1,095.00 before London opened. The LBMA price setting fixed it at $1,095.60 down from Friday’s $1,107.70. The dollar Index was stronger today and rose to 99 up from 98.01 at the close of New York on Friday. The dollar was a cent stronger at $1.0768, up from $1.0879 against the euro.  In the euro the fixing was €1,016.33 down from €1,018.29.  Ahead of New York’s opening gold was trading in the dollar at $1,093.00 and in the euro at €1,013.91. 


Silver TodayThe silver price closed at $14.74 down 26 cents at Friday’s close. At New York’s opening, silver was trading at $14.75.


Gold (very short-term) The gold price will look for a bottom today, in New York.    


Silver (very short-term) The silver price will look for a bottom today, in New York.


Price Drivers

The gold price has broken down and is looking for a bottom now, so we expect some panic selling today. Technically, we repeat what we said on Friday that the gold price is still pointing lower. The fact that we are in the ‘high’ season for gold in India and Chinese demand remains robust confirms how separate from the fundamentals the gold price is in New York where the pricing power remains.  

Friday saw sales from the SPDR gold ETF of another 2.679 tonnes making over 30 tonnes sold in the last full week. But nothing was sold from the Gold Trust leaving their respective holdings at 669.089 tonnes in the SPDR gold ETF and at 160.30 in the Gold Trust. We expected more sales in view of the Technical breakdown and will watch today if there is follow through selling. If these dry up then the picture becomes opaque once again.


Our main focus today is the dollar index and exchange rate of the dollar against the euro as these may well demonstrate the U.S. Treasury and [by extension] the Fed’s attitude to a strong dollar. With the dollar index one point away from the 100 level, will the Treasury engineer a lower dollar as reports indicated in the last month? As we said on Friday, “A dollar index of over 100 is just not in the interests of the U.S. This impacts the U.S. & U.K. gold markets heavily as the gold price is being pushed down by those markets in expectations of a stronger dollar.” The excellent jobs report spurred the dollar higher as well as expectations of a December rate hike. Now let’s see official reactions to the rising dollar.  - Subscribe  [See a site where protection from confiscation is offered: ]


Silver Silver prices did exceptionally well on Friday and ended higher that the Friday’s close the week before.  We may well see a test of the closeness of the silver price to the gold price pattern seen over the last few years. - Subscribe ]       




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


Global Gold Price (1 ounce)















Rs. 72,900.69


Y 6,958.61

Y 7,041.27


| Digg This Article
 -- Published: Monday, 9 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 - 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.