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

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

COT Gold, Silver and US Dollar Index Report - May 17, 2019
By: GoldSeek.com

Gold Miners’ Q1’19 Fundamentals
By: Adam Hamilton, CPA, Zeal Research

Three safe-haven reasons to own gold
By: Richard (Rick) Mills, Ahead of the herd

Trump’s China Blunder
By: Peter Schiff, President and CEO Euro Pacific Capital

Is the Trade War a Catalyst for Gold?
By: Jordan Roy-Byrne CMT, MFTA

Bitcoin Mania Is Back! Are You Ready to Rumble?
By: Rick Ackerman, Rick's Picks

Precious Metals Update Video: Gold support around $1,282
By: Ira Epstein

Asian Metals Market Update: May-17-2019
By: Chintan Karnani, Insignia Consultants

GoldSeek Radio Nugget: Louis Navellier
By: Chris Waltzek, GoldSeek Radio

Gold: Ratio Charts Offer the Key to the Bull
By: Rambus

>
 
Search

GoldSeek Web

 
Gold and Silver Market Morning: Nov-23-2015


 -- Published: Monday, 23 November 2015 | Print  | Disqus 

Gold Today –New York closed at $1,077.20 after closing against the dollar as low as $1,069.50 last Thursday.  In Asia prices were marked down to $1,170 as the dollar continued to rise against everything. The LBMA price setting fixed it at $1,068.35 down from $1,070.50 from Thursday. The dollar Index is at 99.82 up from 99.62 on Thursday. The dollar is at $1.0625 up from $1.0656 against the euro.  In the euro the fixing was €1,005.008 up from 2.81 down from €1,003.81 on Thursday.  At New York’s opening gold was trading in the dollar at $1,069.35 and in the euro at €1,006.02. 

 

Silver TodayThe silver price closed at $14.15 down 6 cents since last Thursday. At New York’s opening, silver was trading at $13.93.

 

Gold (very short-term)

The gold price will look for direction today, in New York.    

 

Silver (very short-term)

The silver price will look direction today, in New York.

 

Price Drivers

We have been away from the desk since a week last Friday. The moves in the gold price since then are not due to physical sales, but to moves in the U.S. dollar. Look at the gold price in all other currencies and it is doing fairly well, because all other currencies, like gold, are falling against the dollar. So the gold market and most other markets are all about the dollar. Yes, it is still below 100 on the index but now it seems that we have reached decision time. Will the dollar be allowed to follow market forces and continue higher or will it be ‘managed’ lower [or held here] by the U.S. Treasury? To emphasize this, we expect the Yuan to fall [not be devalued] because its ‘peg’ against the dollar is taking it higher against all other currencies too. The economic data continues to point to lower inflation and lower growth which, translated, means deflation. With the oil price still falling, this seems to ensure that such numbers continue to decay. What is disturbing is that by now, a halving of the oil price should have stimulated growth, but it hasn’t, so why should further falls? Likewise, more stimulation [QE] is unlikely to produce growth when it has failed so far.

 

So, we are in a currency war of note! Who will pull the dollar down? The U.S. will have to, as it is damaging the U.S. economy and all the more so, if it rises further.  In that case gold will follow other currencies down but then the damage done will call for a reassessment of the value of gold. The nearest parallel we have to this scene is in 2008 when gold fell to its bottom before moving to its peak of $1,921.  Why, at that time, did the gold price then rise? Because of fears of a collapse of the financial system! We certainly do not believe that the time since then has improved the financial system. This implies that what happened then, probably triggered by higher interest rates, will precipitate similar extreme times.

 

 - Subscribe www.goldForecaster.com

[See a site where protection from confiscation is offered:   www.Stockbridgemgmt.com ]

 

There have not been sufficient sales from the SPDR gold ETF or Gold trust to move gold prices down.

 

Silver Silver is pushing lower ahead for potential falls in the gold price. - Subscribe www.SilverForecaster.com       

 

Regards,

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

Global Gold Price (1 ounce)

 

Today

Thursday

Franc

Sf1,091.11

Sf1,088.27

US

$1,069.35

$1,068.30

EU

€1,006.02

€1,002.77

India

Rs.71,069.00

Rs. 70,641.34

China

Y 6,832.61

Y 6,819.92

 


| Digg This Article
 -- Published: Monday, 23 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 - 2019



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


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, 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 GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, 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.