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

Gold Seeker Closing Report: Gold and Silver Gain Roughly 2% After Fed
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 21 2018
By: Ira Epstein

SSR Mining begins drilling at Eagles Plains (TSX-V: EPL) Fisher Gold Property
By: Nicholas LePan,

JPMorgan's Domination of COMEX Silver
By: Craig Hemke

Can Central Banks Manage the Deflation of an Everything Bubble?
By: Graham Summers

No, gold leased from central banks doesn't always have to be returned
By: Chris Powell

Why the World’s Central Banks hold Gold – In their Own Words
By: Ronan Manly

WATCH OUT BELOW: Dow Jones Index Next Stop… 19,000
By: Steve St. Angelo

Additional Signs for PMs Amid Increasing FOMC Tension
By: Przemyslaw Radomski, CFA

Credit Concerns In U.S. Growing As LIBOR OIS Surges to 2009 High
By: GoldCore


GoldSeek Web

Gold and Silver Market Morning: Jan-5-2016

 -- Published: Tuesday, 5 January 2016 | Print  | Disqus 

Gold Today –The New York gold price closed Monday at $1.075.00.  In Asia and London, prices rebounded to $1,077.00 with the dollar index higher at 98.94 up from 98.41 yesterday. The LBMA gold price setting was set at $1,078.00 up from $1,072.70. The euro was at $1.0902 down from $1.0922 against the dollar. The gold price in the euro was set at €1,001.86 up from €983.95 as the euro weakened. Ahead of New York’s opening, the gold price was trading at $1,078.50 and in the euro at €1,002.46. 


Silver Today –The silver price in New York closed at $13.86 up 5 cents.  Ahead of New York’s opening the silver price stood at $13.97.


Gold (very short-term) The gold price will consolidate in New York today.    


Silver (very short-term) The silver price will consolidate in New York today.


Price Drivers

Please note that gold is rising with the dollar and as the euro’s fall is heavy! We continue to watch the Dollar Index and euro support at $1.07.


We expect gold to continue chipping away at overhead resistance at $1,080 today. The last week has seen sales of 1.91 tonnes from the SPDR gold ETF and a sale of 0.63 of a tonne from the Gold Trust. The holdings of the SPDR gold ETF are now at 642.368 tonnes and at 152.58 tonnes in the Gold Trust. These sales appeared to be from stale bulls, believing the gold price won’t break through resistance.


The dramatic falls of global equity markets at the start of this year has been expected for some time. After all, in a rising interest rate environment and the prospect of a slowing recovery in the U.S. and elsewhere which may even lead to a recession later in the year, one has to ask the question, “Why hold equities?” Each day one reviews, “Is more profit left in the market? Will dividend cash flow warrant the continued holding of equities?” If the answer is no to these questions then alternative investments should be sought for a portfolio to continue growing. We expect further equity market falls and for the U.S. Investor to review where he should be holding his wealth.


But the falls in the equity market and soon the bond markets, are not simply a question of profit taking, but imply a deeper malaise in global markets. More in  [To find protection from confiscation: ]


When governments rescue equity markets as in China, they only postpone future falls and provide a good exit price for investors. With the 6-month ban on selling the equity market in China coming to an end on the 8th January fears are that the falls will continue.


In such a climate the prospects for gold [close to or at its bottom] are good.


Silver The silver price is marking time until gold breaks through $1,080 or turns down today. - Subscribe       




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


Global Gold Price (1 ounce)















Rs. 71,315.76


Y 7,030.31

Y 7,010.24


| Digg This Article
 -- Published: Tuesday, 5 January 2016 | 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 - 2017 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.