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

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

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

Bitcoin Total Wipeout Alert
By: Clive Maund

Ira Epstein's Metals Video 12 13 2017
By: Ira Epstein

 
Search

GoldSeek Web

 
Gold and Silver Market Morning: Feb-05-2016


 -- Published: Friday, 5 February 2016 | Print  | Disqus 

 

Gold Today –The New York gold price closed Thursday at $1,155.70 up from $1,142.10 up $13.60. In Asia on Friday, it held there ahead of London’s opening and then the LBMA set it at $1,158.50 up from $1,146.25 up $12.25 with the dollar index down slightly at 96.62 from 96.66 on Thursday. The dollar was weaker against the euro at $1.1196 down from $1.0980 against the euro. The gold price in the euro was set at €1,034.74 up from €1,025.27. Ahead of New York’s opening, the gold price was trading at $1,159.20 and in the euro at €1,035.18. 

 

Silver Today –The silver price in New York closed at $14.86 up 21 cents at Thursday’s close.  Ahead of New York’s opening, the silver price stood at $14.90.

 

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

At the moment in global financial markets and the media there is a search for certainty. What number of interest rate hikes will there be, etc. The Fed has warned us all that their decisions are ‘data led’. Translated, this means, “they don’t know, they need to see what is going to happen first!” So there can be no certainty. The financial and monetary climates have changed considerably in 2016 already. Even the U.S. recovery appears to be weakening now. All other global economies will face a weaker environment than the U.S. Monetary policy is not backed by effective government action bringing even more uncertainty to bear on the scene. No national economy is an island, but part of a global economy that will affect each one. With conflicting interests among all nations the global economy is rudderless. The shift of wealth from west to east has been heavily underestimated. The unseen damage to the developed world is now feeding through.

 

Gold has been held back in the last three years, but is in the process of breaking out as these last weeks have shown. What’s more, the gold price [unreasonably] is made in the U.S. on barely any physical volume. But the last few weeks have seen U.S. investors turning robustly to physical gold and, by extension, silver.  It’s time global investors seriously looked at gold investments!

 

In earlier Market Mornings and explored in depth in our newsletters, we pointed out how exchange rates would drive markets this year. The plunge in the dollar against all currencies validates these forecasts, catching the financial world by surprise and changing the climate for gold and silver dramatically.

 

Thursday saw another large purchase of 3.57 tonnes into the SPDR gold ETF! The Gold Trust saw another 0.91 tonnes added to the Gold Trust. The holdings of the SPDR gold ETF are now at 693.621 tonnes and at 171.47 tonnes in the Gold Trust. These purchases have altered the weight of influence in the U.S. gold market with physical demand taking over from speculative paper gold influences and sweeping away resistance, taking gold prices higher, as speculative short positions are closed long positions opened. There is a great deal more of this still to come.

- More in www.goldForecaster.com  [To find protection from confiscation: www.Stockbridgemgmt.com ]

 

Silver Silver is now outperforming gold.

- Subscribe www.SilverForecaster.com       

Regards,

 

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

 

Global Gold Price (1 ounce)

 

Today

Yesterday

Franc

Sf1,148.59

Sf1,147.70

US

$1,159.20

$1,146.50

EU

€1,035.18

€1,025.49

India

Rs.78,425.10

Rs. 77,464.99

China

Y 7,618.61

Y 7,541.68

 


| Digg This Article
 -- Published: Friday, 5 February 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.