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

Gold – WE’RE “CLOSE ENOUGH”
By: Gary Savage

The Dangerous Dream of Secession
By: George Smith

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

 
Search

GoldSeek Web

 
Gold and Silver Market Morning: Jan-4-2016


 -- Published: Monday, 4 January 2016 | Print  | Disqus 

Gold Today –The New York gold price closed Wednesday at $1,060.10 at the end of last year.  In Asia and London, prices have rebounded to $1,069.5 with the dollar index slightly higher at 98.41 up from 98.28 at the end of 2015. The LBMA gold price setting was set at $1,072.70 up from $1,062.25 last year. The euro was barely changed at $1.0902 up from $1.0922 last year against the dollar. The gold price in the euro was set at €983.95 up from €977.48. Ahead of New York’s opening, the gold price was trading at $1,072.55 and in the euro at €983.81. 

 

Silver Today –The silver price in New York closed at $13.81 at the end of last year opening today in China at $13.92.  Ahead of New York’s opening the silver price stood at $14.00.

 

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

Our first report for 2016 saw the New Year get off to a troubled start, but not for gold and silver. As we expected the gold price rebounded after dealers and speculators tried to shove it down during the holiday period. It was trading in China at over $1,069. London took it higher and we expect New York to do so as well. The last week has seen no sales from either the SPDR gold ETF or the Gold Trust. The holdings of the SPDR gold ETF are now at 643.558 tonnes and at 153.21 tonnes in the Gold Trust.

 

The religious war in the Middle East took another step to intensity when Saudi Arabia and Iran broke off diplomatic ties between themselves after the execution of a Shi’ite cleric. We expect the sectarian war in the Middle East to go from bad to worse in 2016, but will not affect the gold price in itself. With Saudi Arabia doing its best to supply China, Iran’s top client, the issue for gold in oil is whether the Saudis will accept the Yuan in payment for oil?

 

We do not expect to see a stronger dollar than seen at its peak in 2015, while expecting the interest rate hike certainties to fade as the recovery does not do as well as expected in the U.S. in 2016. However, our focus, until pricing power over gold and silver moves eastwards, remains on the dollar/euro exchange rate and on the dollar index. The issues that preoccupied us at the end of last year will preoccupy us going into this year but with more intensity.

 

Gold and silver prices will climb to attack resistance in the next few days as doubts about equities and bonds see them both look attractive to the U.S. investor.– More in www.goldForecaster.com  [To find protection from confiscation: www.Stockbridgemgmt.com ]

 

Silver The silver price is going to follow the gold price and both will continue to be priced as monetary metals, ignoring their fundamentals. In 2016 we expect to see the emphasis on the monetary aspect of these metals to begin to reflect in their fundamentals. - Subscribe www.SilverForecaster.com       

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,070.89

Sf1,057.21

US

$1,072.55

$1,067.35

EU

€983.81

€976.89

India

Rs.71,315.76

Rs. 70,862.97

China

Y 7,010.24

Y 6,928.26

 


| Digg This Article
 -- Published: Monday, 4 January 2016 | 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.