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

Ira Epstein's Metals Video 3 16 2018
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - March 16, 2018

“Bankruptcy 1995” Revisited
By: James Turk

The egregious errors of static statistics
By: Alasdair Macleod

Gold Miners’ Q4’17 Fundamentals
By: Adam Hamilton, CPA

The Race to Repatriate Gold Reserves Accelerates
By: Nathan McDonald

Is the Economic Summer Coming?
By: Arkadiusz Sieron

Triggers And March Trigger Impending
By: Deepcaster

GoldSeek Radio Nugget: Gerald Celente and Chris Waltzek


GoldSeek Web

Gold and Silver Market Morning: Jan-29-2016

 -- Published: Friday, 29 January 2016 | Print  | Disqus 

Gold Today –The New York gold price closed Thursday at $1,114.50 down from $1.125.80 down $11.30. In Asia on Thursday, it lifted it to $1,115.55 ahead of London’s opening and then the LBMA set it at $1,112.90 down from $1,119.00 with the dollar index up at 99.08 up from 98.85 Thursday. The euro was up at $1.0918 up slightly from $1.0910 against the dollar. The gold price in the euro was set at €1,019.33 down from €1,025.66. Ahead of New York’s opening, the gold price was trading at $1,115.90 and in the euro at €1,022.07. 


Silver Today –The silver price in New York closed at $14.24 down 24 cents at Thursday’s close.  Ahead of New York’s opening, the silver price stood at $14.25.


Gold (very short-term) The gold price will consolidate with a positive bias, in New York today.   


Silver (very short-term) The silver price will consolidate with a positive bias, in New York today.


Price Drivers

Wednesday saw no purchases or sales to or from the SPDR gold ETF but a purchase of 1.40 tonnes into the Gold Trust. The holdings of the SPDR gold ETF are now at 669.229 tonnes and at 166.45 tonnes in the Gold Trust. We expect the gold price try to climb in consolidation mode, today.


Today sees a slew of data from the U.S. GDP to the E.U. inflation rate. For gold and silver investors the importance of these lies in their impact on the exchange rates of the dollar and the euro. We constantly get bombarded with new statistics trying to give us the impression that all is well in the developed world but certain realities come through.


Today, so far we have seen Japan desperately attempting to engineer inflation to 2% using negative interest rates to do so. We see this type of inflation damaging the credibility of the Yen, already no longer a ‘safe haven’ because of the treatment it has received to date. The euro likewise is under attack with hints at more stimuli on the way. It seems unfashionable to say this but central banks can only influence monetary policy and not engineer growth. This is the job of government using fiscal resources and structural reform as well as doing what they can to assist the consumer on the ground with improvements to his job security, value of his house and putting some disposable income in his pocket. At the moment it is only Saudi Arabia that is doing that for consumers all over the world.


But with U.S. economic growth declining in 2015 today may see economic growth drop to below 1% from nearly 4% at the start of last year. What happened to the recovery and the efforts  to boost it since 2008?


Will lower growth weaken the dollar? With the other globally leading currencies trying their best to fall, against what will the dollar fall? If so, this is gold positive. - More in  [To find protection from confiscation: ]


Silver Silver should find a solid base today. - Subscribe       




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


Global Gold Price (1 ounce)















Rs. 76,393.72


Y 7,351.06

Y 7,363.38


| Digg This Article
 -- Published: Friday, 29 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.