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 Close Slightly Lower
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 16 2018
By: Ira Epstein

Volatility Breeds Contempt
By: Michael Ballanger

Rocket Time For Gold
By: Stewart Thomson

A golden escape
By: Richard (Rick) Mills

Does Gold Like Acronyms? The Golden Story of SPX, CPI, and IMF
By: Arkadiusz Sieron

Gold Resource Corporation Reports Preliminary Third Quarter Production of 6,411 Gold Ounces and 321,590 Silver Ounces Maintaining 2018 Annual Outlook
By: Gold Resource Corporation

Of What Am I Now Certain?
By: Avi Gilburt

October Doesn't Disappoint: Volatility Is Back After a Tranquil Third Quarter
By: Frank Holmes

Lower Yields Are Bulls' Best Bet
By: Rick Ackerman


GoldSeek Web

Gold and Silver Market Morning: Jan-7-2016

 -- Published: Thursday, 7 January 2016 | Print  | Disqus 

Gold Today –The New York gold price closed Monday at $1,093.50 up from $1,078.50.  In Asia it moved up to $1,099.35 but in London it held back slightly where  the LBMA price was set at $1,096.00 up from $1,083.85 with the dollar index lower at 98.72 down from 99.42 yesterday. The euro was at $1.0863 up from $1.0741 against the dollar. The gold price in the euro was set at €1,010.23 up from €1,009.03 as the euro recovered. Ahead of New York’s opening, the gold price was trading at $1,102.45 and in the euro at €1,014.07. 


Silver Today –The silver price in New York closed at $14.02 up 3 cents.  Ahead of New York’s opening the silver price stood at $14.06.


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


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


Price Drivers

The gold price has confirmed its breakout solidly and has broken through the next overhead resistance at $1,100. The dollar was turned back for the 100 level on the dollar index and is now trading lower against the euro as we forecast. The gold price is moving independently of any currency moves on the part of the dollar and the euro and is rising in all the world’s currencies.


Yesterday saw sales of 1.403 tonnes from the SPDR gold ETF but none from the Gold Trust. The holdings of the SPDR gold ETF are now at 642.368 tonnes and at 152.55 tonnes in the Gold Trust.  If the unfortunate seller was shorting the metal, we expect him to cover his position a.s.a.p. Likewise, the massive short position on COMEX, while the Commercials have never been so neutral. More in  [To find protection from confiscation: ]


With China closing its markets for the second time this week as downside limits are achieved the fear is that the 8th, when the ban on equity sales is due to expire the market will collapse. We see the Chinese authorities extending the ban to prevent this. But alongside their falls, global stock markets continue to fall alongside the oil price. George Soros believes that the current situation is reminiscent of the 2008 credit crunch. This would explain his longer term investments in gold.


Data on a broad range on the U.S. economy is now disappointing and indicating a bear market in U.S. equities is on the cards.


It certainly points to cash being a sound investment. But the only none-currency cash/asset is gold and then silver. We do see that 2016 may have started with a bang, but this bang may well continue for a lot of 2016. Now is the winter of gold’s discontent turned to glorious summer!


Silver The silver price has yet to catch gold up, but we expect it will. - Subscribe       




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


Global Gold Price (1 ounce)















Rs. 72,602.23


Y 7,373.19

Y 7,120.04


| Digg This Article
 -- Published: Thursday, 7 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 - 2018 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.