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

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Less Than 1% on the Week
By: Chris Mullen, Gold Seeker Report

The Yield Curve Flattens And Bank Stocks Plunge. Here’s The Connection – And The Prediction
By: John Rubino

COT Gold, Silver and US Dollar Index Report - December 14, 2018
By: GoldSeek.com

Gold in the Short, Medium, and Long Term
By: David Brady, CFA

Gerald Celente: Central Banks Can’t Stop a 2019 Debt Disaster
By: Mike Gleason

Gold-Stock Triple Breakout
By: Adam Hamilton, CPA

Trump Need’s NOPEC, not OPEC
By: Marin Katusa

Crash alert!
By: Bill Holter

US National Debt Spiraling Out of Control, New Record Coming!
By: David Morgan

GoldSeek Radio Nugget: Gerald Celente and Chris Waltzek
By: radio.GoldSeek.com

 
Search

GoldSeek Web

 
Gold and Silver Market Morning: Jan-18-2016


 -- Published: Monday, 18 January 2016 | Print  | Disqus 

Gold Today –The New York gold price closed Friday at $1,089.10 up from $1,076.90. In Asia on Monday, it was moved down to $1,088.25 and London held slightly higher until it was set by the LBMA at $1,090.45 with the dollar index almost the same at 99.03 up from 98.97 on Friday. The euro was at $1.0891 down from $1.0897 against the dollar. The gold price in the euro was set at €1,001.24 up from €992.29. Ahead of New York’s opening, the gold price was trading at $1,090.00 and in the euro at €1,000.83.

Silver Today –The silver price in New York closed at $13.90 up 5 cents at Friday’s close. Ahead of New York’s opening on Monday, the silver price stood at $13.90.

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

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

Price Drivers

Friday saw purchases of 3.867 tonnes of gold into the SPDR gold ETF and a purchase of 0.30 of a tonne into the Gold Trust. The holdings of the SPDR gold ETF are now at 657.924 tonnes and at 161.46 tonnes in the Gold Trust. Without physical sales and with persistent gold purchases into the U.S. gold ETFs, dealers look as though they will be pushed to reflect gold and silver prices moving higher in line with U.S. demand and supply. COMEX speculators have increased their bullish positions last week.

We do see emerging market capital outflows from India, South Africa and importantly China. The People’s Bank of China is doing its best to prevent brutal falls in the Yuan by using Capital Controls [increasing reserve requirements for the offshore Yuan] but all know that the Yuan should be 6% lower at 7.00 to the dollar to just remove the appreciation caused by its ‘peg’ to the dollar. It could fall up to 30% more in time. Meanwhile ahead of the Chinese New Year we see gold demand in Chins quadrupling to 238 tonnes in the first week of January.

Gold and silver investors should note that currencies are not moving on economic fundamentals but reflect the tsunamis of capital leaving the weaker emerging nations. 2016 will be a year when we see battles to lower exchange rates by individual countries, lessening the credibility of those currencies internationally and undermining monetary system confidence. Gold and silver will thrive in this environment.

China is building an ‘empire’ independent of the developed world through ignoring politics and doing business with anyone. It is now trying to get its feet under the tables of the Middle East on both sides of the Persian Gulf on this basis. Now that Iran has seen sanctions lifted we do not think it will turn to the developed world but to China, so that it is not vulnerable to the U.S. Saudi Arabia too, sees similar advantages in developing ties with China. Over time this will lead to a lower use of the dollar replacing much of it with the Yuan. - More in www.goldForecaster.com [To find protection from confiscation: www.Stockbridgemgmt.com ]

SilverThe silver price will see a volatile start to the week, but still follow gold. - Subscribe www.SilverForecaster.com

Regards,

Julian D.W. Phillips for the Gold & Silver Forecasters Global Gold Price (1 ounce)

Today

Yesterday

Franc

Sf1,095.07

Sf1,090.58

US

$1,090.00

$1,086.39

EU

€1,000.83

€992.29

India

Rs.73,782.10

Rs. 73,083.04

China

Y 7,184.19

Y 7,118.83


| Digg This Article
 -- Published: Monday, 18 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 - 2019



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


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.