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

Exploration Update: Golden Arrow’s Pescado Project
By: Nicholas LePan, SilverSeek.com

GoldSeek Radio Nugget: Charles Hughes Smith and Chris Waltzek
By: radio.GoldSeek.com

Strap Yourself In - We Are About To See Some Big Moves In Metals
By: Avi Gilburt

Visit the Top Blockchain and Cryptocurrency Power Hubs of the World
By: Frank Holmes

Gold’s Upside Target
By: Przemyslaw Radomski, CFA

Dollar Crisis
By: Gary Savage

What Gold Needs to Do Now
By: Rick Ackerman

Year-end Rate Hike Once Again Proves To Be Launchpad For Gold Price
By: GoldCore

Asian Metals Market Update: December-14-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain About 1% and 2%
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
Gold and Silver Market Morning: Jan-15-2016


 -- Published: Friday, 15 January 2016 | Print  | Disqus 

Gold Today –The New York gold price closed Monday at $1,076.90 down from $1,094.60. In Asia it was moved down to $1,083.00 and London held it just below that with the LBMA price set at $1081.1 down from $1,090.75 with the dollar index almost the same at 98.97  from 98.94 on Thursday. The euro was at $1.0897 up from $1.0883 against the dollar. The gold price in the euro was set at €992.29 down from €1,002.25. Ahead of New York’s opening, the gold price was trading at $1,081.15 and in the euro at €992.29. 

 

Silver Today –The silver price in New York closed at $13.85 down 30 cents.  Ahead of New York’s opening the silver price stood at $13.77.

 

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

 

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

 

Price Drivers

Wednesday saw no purchases into the SPDR gold ETF but a purchase of 0.99 of a tonne into the Gold Trust. The holdings of the SPDR gold ETF are now at 654.057 tonnes and at 161.16 tonnes in the Gold Trust.  And yet the gold price tumbled. With COMEX futures and Options dominating prices despite no physical transactions, the fall in the gold price stretches credibility too far. We could well see some heavy volatility either way today.

 

With the dollar still restrained below 100 on the dollar index and the euro stronger against the dollar the gold price moves were against all currencies and the supposed link to the euro irrelevant at the momnet.

 

The overriding mood in global financial markets remains pointing to the downside. Chinese equity markets ‘officially’ entered a bear market today [down over 20%]. Today’s additional 3.5% fall in Shanghai’s composite confirmed this today. Global equities are struggling to hold current levels as the long term fundamental market forces take their toll. We expect further falls in equity markets.

With Iranian sanctions being lifted possibly this weekend the oil price looks as though it is entering the $20s next week.

 

We are witnessing a tidal change from 2015 in global financial markets and one that will extend through the year. The foundation for this change was laid in the last three years with government and central banks actions delaying what now appears to have been an inevitable course. The failure of government and central bank actions to stimulate global growth tells us that future global financial woes will be too much for both governments and central banks to combat. The new ‘normality’ the Fed referred to last year may well be ‘renewed’ once more. As in 2008 gold is collateral damage in the markets, but as then, this defied reason and the gold price then moved to record highs in the next few years.-  More in www.goldForecaster.com  [To find protection from confiscation: www.Stockbridgemgmt.com ]

 

Silver The silver price behaved better than the gold price yesterday and may well be less volatile than gold today. - Subscribe www.SilverForecaster.com       

 

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,090.58

Sf1,090.58

US

$1,086.39

$1,085.75

EU

€992.29

€997.38

India

Rs.73,083.04

Rs. 73,076.40

China

Y 7,118.83

Y 7,172.25

 


| Digg This Article
 -- Published: Friday, 15 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.