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 Pare Yesterday’s Gains; Dow Drops 700+
By: Chris Mullen, Gold Seeker Report

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

Worried About Rising Rates? I Believe this Strategy Could Be the Answer
By: Frank Holmes

Is It The Trade War Threats Or Extreme Overvaluation?
By: Dave Kranzler

GoldSeek Radio Nugget: Peter Schiff and Chris Waltzek

When Is Three Better for Gold Than Four?
By: Arkadiusz Sieron

Mining Gold and Silver From Bombs
By: Rory Hall

Golden Arrow Starts Drilling at Antofalla Silver-Gold-Base Metal Project, Argentina
By: Golden Arrow Resources Corporation

Gold +1.8%, Silver +2.5% As Fed Increases Rates And Trade War Looms
By: GoldCore

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


GoldSeek Web

Gold and Silver Market Morning: Jan-12-2016

 -- Published: Tuesday, 12 January 2016 | Print  | Disqus 

Gold Today –The New York gold price closed Monday at $1,095.00 down from $1,102.50. In Asia it was moved to $1,095.2 but London held it there and the LBMA price was set at $1,094.85 down from $1,104.70 with the dollar index higher at 98.94 up from 98.52 on Monday. The euro was at $1.0856 down from $1.0895 up against the dollar. The gold price in the euro was set at €1,008.52 down from €1,013.95. Ahead of New York’s opening, the gold price was trading at $1,092.70 and in the euro at €1,006.31. 


Silver Today –The silver price in New York closed at $13.88 down 5 cents.  Ahead of New York’s opening the silver price stood at $13.87.


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

Monday saw purchases of 2.083 tonnes into the SPDR gold ETF but none into the Gold Trust. The holdings of the SPDR gold ETF are now at 651.677 tonnes and at 160.17 tonnes in the Gold Trust.  The move into gold via these ETFs will continue as the volatile start to 2016 continues to create uncertainty in global markets.


When a respectable bank such as the Bank of Scotland tells its clients it foresees a deflationary crisis and a ‘cataclysmic year’ and they must ‘Sell Everything” except Treasuries and Bunds global investors have reason to become very alarmed and turn to gold.  Why gold? Even Bunds are tied to the euro and Treasuries to the dollar. We see 2016 being “the year of unstable currency markets”. Analysts watch economies and expect these to translate through to exchange rates and then the global economy. What we see are exchange rates, independent of economies, moving dramatically and impacting the foundation of global economy, in which is deflationary forces are weakening the entire monetary system. Make no mistake the start to 2016 seen so far, is only the beginning. The ‘race to the bottom’ by different currencies we saw in the last two years is going to come home to roost this year and onwards. We see greater attempts to control markets and manage them ‘in the interests of each nation’, far more than seen before.


It is against this backdrop that gold will perform. Let’s be clear, gold is both an asset and a currency. The joy of gold is that is tied to no national currency or government or economy and will move against all currencies just as it has done so far in 2016. We expect that 2016 will be like no other year since 2008!


What has gone under-reported is the news that the Chinese ICBC bank’s leasing of the Deutsche Bank London gold vaults and why. We see that as a huge piece of news. -  More in  [To find protection from confiscation: ]


Silver The silver price will continue to be hesitant until gold resumes it rise. - Subscribe       




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


Global Gold Price (1 ounce)















Rs. 73,701.45


Y 7,192.26

Y 7,289.62


| Digg This Article
 -- Published: Tuesday, 12 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.