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 Closing Report: Gold and Silver Fall While Stocks Edge Higher
By: Chris Mullen, Gold Seeker Report

Michael Pento: Epic Stock Market And Fixed Income Bubble Will Not End Well
By: Mike Gleason

100% Bullish Signal for Precious Metals Sector
By: Przemyslaw Radomski, CFA

Jack Chan's Weekly Precious Metals Market Update
By: Jack Chan

SWOT Analysis: Is Gold Set to Rise in 2018?
By: Frank Holmes

The Process Through Which the First Major Central Bank Goes Bust Has Begun
By: Graham Summers

The Dow Gold Ratio
By: Rambus

Friday’s COT Report: A WTF Moment For the Ages?
By: Ed Steer

Finally, Gold Speculators Start To Bail, Setting Up A Big Q1 2018
By: John Rubino

Gold Demand in the Singapore Bullion Market
By: BullionStar

 
Search

GoldSeek Web

 
Gold and Silver Market Morning: Dec-04-2015


 -- Published: Friday, 4 December 2015 | Print  | Disqus 

Gold Today –The New York gold price closed at $1,063.20 up from $1,052.70 a rise $10.50 on Thursday.  In Asia prices were pulled back to $1,061.85 as the dollar weakened from 100.19 on the dollar index to 97.88. The dollar is at $1.0938 down from $1.0586 against the euro. The London a.m. price was set at $1,063.00.  In the euro the fixing was €975.68 down from Thursday’s €995.17 because of the stronger euro.  Ahead of New York’s opening the gold price was trading at $1,061.70 and in the euro at €974.53. 

 

Silver Today –The silver price in New York closed at $14.11 up 8 cents on Thursday’s close. Ahead of New York’s opening the silver price stood at $14.16.

 

Gold (very short-term)

The gold price will consolidate with a stronger bias in New York today.    

 

Silver (very short-term)

The silver price will consolidate with a stronger bias in New York today.

 

Price Drivers

The moves by the E.C.B. underwhelmed the market and the dollar fell back heavily against the euro. It was expected that the euro would fall to $1.03 but instead it has risen to $1.0938.  If the gold/euro relationship holds anywhere around here, we should see a further rise in gold towards the critical $1,080 level. This is subject to what the Fed does today. The shorts got a shock and may well have started to close positions, or are waiting for the Fed today before they do. They may precipitate the rally.

 

We have written about how critical the $: € is to both the E.U. and the U.S. looking to see just how they will ‘manage’ the exchange rate. From what we saw yesterday there appears to be agreement that the $+1.07 level is the point that the two agree is the line in the sand. If this is true the actions of the Fed today will confirm this. If so, this applies to gold and silver too, going forward. We do expect a rate rise, but it could be less than the expected 0.25%? If so, we have no doubt that the E.C.B. accepted that their actions must not strengthen the dollar or weaken the euro against the dollar. This would add fact to the thought that the dollar’s ‘bull’ market, at least against the euro, is over? Hence today is an important day for the gold and silver prices! Ahead of New York’s opening the markets were virtually frozen waiting for the Fed’s announcement.

 

After massive sales of 15.776 tonnes of gold from the SPDR gold ETF we saw a tiny sale of 0.226 of a tonne and a sale of 0.9 of a tonne from the Gold Trust, yesterday. The holdings of the two gold ETFs, the SPDR gold ETF and the Gold Trust remain at 638.797 tonnes in the SPDR gold ETF and at 157.07 in the Gold Trust. These investors remain in a holding pattern waiting for the Fed too.

We discuss this more in:

 

- Subscribe www.goldForecaster.com  [To find protection from confiscation: www.Stockbridgemgmt.com ]

 

Silver The silver price remains over $14.00 and should move with gold after the Fed’s announcement today. - Subscribe www.SilverForecaster.com       

 

Regards,

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,060.37

Sf1,076.28

US

$1,061.70

$1,050.85

EU

€974.53

€995.26

India

Rs.70,812.74

Rs. 70,046.51

China

Y 6,797.43

Y 6,722.92

 


| Digg This Article
 -- Published: Friday, 4 December 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 - 2017



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.