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

GoldSeek.com Radio: John Embry and Charles Hughes Smith, and your host Chris Waltzek
By: radio.GoldSeek.com

Amid Bad Fundamentals, Gold Sector Rally May Have Begun
By: Gary Tanashian

Bitcoin Proves You Cannot Have Your Digital Cake and Eat it Too
By: Nathan McDonald

Relief Rally in Gold Mining Stocks
By: Jordan Roy-Byrne CMT, MFTA

The Morgan Report's Weekly Perspective
By: David Morgan

Outlook for gold – 2018
By: Alasdair Macleod

Stephen Poloz Right To Be Worried
By: Peter Diekmeyer

The Yield Curve And The Boom-Bust Cycle
By: Steven Saville

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Roughly 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 12 15 2017
By: Ira Epstein

 
Search

GoldSeek Web

 
Gold and Silver Market Morning: Dec-14-2015


 -- Published: Monday, 14 December 2015 | Print  | Disqus 

Gold Today –The New York gold price closed at $1,078.20 up from $1,071.70 on Friday’s close.  In Asia prices dropped to $1,074 before London took it down to $1,067 as the dollar index held close to Friday’s level of 97.90 at today’s 97.85 on the dollar Index. The euro is at $1.0955 almost the same as Friday’s $1.0956 against the dollar. The London a.m. LBMA gold price was set at $1,068.00 up from Friday’s $1,067.20 Friday.  In the euro the fixing was €974.05 up from yesterday’s $972.79. Ahead of New York’s opening, the gold price was trading at $1,068.65 and in the euro at €974.33. 

 

Silver Today –The silver price in New York closed at $13.95 down 16 cents. Ahead of New York’s opening the silver price stood at $13.80.

 

Gold (very short-term) The gold price will consolidate with a slightly weaker bias in New York today.    

 

Silver (very short-term) The silver price will consolidate with a slightly weaker bias in New York today.

 

Price Drivers

Dealers and speculators are trying to second guess what the market’s reaction to the expected Fed rate hike on Wednesday will be and are reading the price in line with the Technical picture, as downwards. But such plays are high risk ones, for if the Fed does not affect the dollar exchange rate they will have to unwind their positions in the face of a market going the other way.

 

As you likely know, all financial markets across the globe are waiting with baited breath for the Fed announcement. When markets presume to know what is about to happen they discount that presumption. So the markets then go another way after that. If it is even slightly different to what is expected markets react strongly. So while we expect a quiet week until the announcement, thereafter expect volatility. One new provider [Bloomberg] even has a countdown clock for Janet Yellen’s speech. While she is a demure academic, it is more than likely that she will surprise us. - Subscribe www.goldForecaster.com  [To find protection from confiscation: www.Stockbridgemgmt.com ]

 

Once again, we saw no sales from the SPDR gold ETF and nothing from the Gold Trust, on Friday. The holdings of the two gold ETFs, the SPDR gold ETF and the Gold Trust remain at 634.63 tonnes in the SPDR gold ETF and at 156.32 tonnes down from 157.07 tonnes in the Gold Trust. These sales would have had no impact on the gold price and most probably were from investors reducing their exposure to higher risk on Wednesday.

 

When the Bank for International Settlements warned of the “uneasy calm” in global financial markets it touched a host of global problems that would be affected by an interest rate move in the U.S. What they meant too was that many of these problems are in themselves structural problems that have not been fixed by those concerned or cannot be fixed by them. So the ‘ripple effect’ will not just be a short term reaction to Wednesday’s announcement, even if calm returns after the initial reaction.  We see these ripples moving through into 2016 and likely changing the scene of world financial markets for more than next year. This will be positive for gold and silver.

 

Silver The silver price will follow gold closely this week. - Subscribe www.SilverForecaster.com       

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,049.68

Sf1,051.57

US

$1,068.65

$1,064.40

EU

€974.33

€970.33

India

Rs.71,706.41

Rs. 71,197.72

China

Y 6,917.37

Y 6,870.86

 


| Digg This Article
 -- Published: Monday, 14 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.