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 Fall Before Fed Day
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 20 2018
By: Ira Epstein

Fed Day: Mr. Market Meets Mr. Hyde
By: Stewart Thomson

Bear Stearns – A Different Opinion
By: Theodore Butler

Here’s What Inflation Could Look Like in 2020, Based on Past Surges
By: Jeff Clark

Politics And Investing
By: Axel Merk

Jack Chan's Weekly Precious Metals Update
By: Jack Chan

Does Weiner really know what central bankers think better than they themselves do?
By: Chris Powell

Another look at gold’s true fundamentals
By: Steven Saville

The Crypto Market Conundrum
By: Ryan Wilday


GoldSeek Web

Gold and Silver Market Morning: Feb-17-2016 -- Markets pause lower waiting for physical buying!

 -- Published: Wednesday, 17 February 2016 | Print  | Disqus 

Gold and Silver Market Morning

Gold Today Gold closed in New York at $1,199.60 but stood, in Asia, at over $1,212 this morning but then slipped back to $1,204 before London opened. Then the LBMA set it at $1,202 down from $1,212.00 down $10.00, with the dollar index stronger at 96.85 up from Monday’s 96.54.


The dollar is slightly stronger against the euro at $1.1144 up from $1.1171 on Tuesday. The gold price in the euro was set at €1,078.51 down from €1,084.95.


Ahead of New York’s opening, the gold price was trading at $1,201.85 and in the euro at €1,078.09. 


Silver Today –The silver price stood in Asia at $15.22.  Ahead of New York’s opening the silver price stood at $15.25.


Gold (very short-term)

The gold price will consolidate with a stronger bias in New York today.    


Silver (very short-term)

The silver price will consolidate with a stronger bias in New York today.    


Price Drivers

Tuesday saw no purchases or sales from or to the SPDR gold ETF or the Gold Trust, clearly waiting for gold to hit support. Their intention appears to be to buy at the best prices they can and not chase any price. The holdings of the SPDR gold ETF are now at 710.954 tonnes and at 179.19 tonnes in the Gold Trust. We don’t believe that after such strong buying they have moved out of the market. We believe that they are readying to start buying the shares of the SPDR gold ETF soon.


China too appears to be waiting for the gold price to settle down, although while they could during the Lunar New Year holiday they piled into the shops to buy gold. Chinese demand remains robust. We also expect the post holiday fall-off in demand to be slight with lower prices and ongoing enrichment of the middle classes.


But yesterday saw the gold price hold lower levels because of the absence of gold ETF buyers in the U.S. Now that the gold price is bouncing off support at $1,200 we expect physical demand to come in again.


The media appears obsessed by growth in China and the Yuan exchange rate as though they are the factors hurting the developed world. We believe nothing could be further from the truth. China will internalize its debt problems and growth problems as they continue to change direction towards consumption and the development of the middle classes. It is a process the developed world has not seen since the Second World War. Such a process limits imports from the west.


Bear in mind the Chinese government rules the entire financial system there with an iron hand, unlike in the west. A 1% or 2% move, both ways this week, of the Yuan, are of no consequence!


The basic problem the developed world is facing is that global cash flow to itself is dropping over time from the 80% it enjoyed in 2000 to the eventual 35% in 2020. As of now its global cash flow is between 40% and 45% going to Asia and 55% to 60% to the developed world. The road forward is to see China and Asia producing all products that the west does, as well and cheaper.


China wants to become the No. 1 economy as independent of the Developed world as possible, to remove its vulnerability to it. This will divide the world and bring intense pressure on the developed world, long term. It is inevitable that this will bring additional financial and currency pressures to the globe.


With this in mind China is, through its citizens and institutions, buying as much gold as it can, as it foresees the day when gold will reinforce a failing global monetary system.  But even there, the government can, at the drop of a hat, confiscate the bulk of their gold. The Chinese are so obedient or fearful of government that they will hand in their gold if told to do so by government. Hong Kong is part of China.


[ Protect yourself from Gold Confiscation: ]


Silver – The silver price is holding strongly above $15.00 and we expect will do so while gold is in this Technical pattern.



Julian D.W. Phillips | | StockBridge Management Alliance


About Service:

We focus on keeping our readers on top of the emerging Gold bull market with a global fundamental and technical overview. Members gain access to our comprehensive, weekly report with the latest Gold market news, price analysis, up-to-date portfolio along with coverage of other key markets. Economic and monetary topics are covered as well, along with many other influences that have an impact on the Gold market.


Try a $99 trial subscription and gain immediate access to the latest weekly Gold Forecaster Newsletter!


Global Gold Price (1 ounce)















Rs. 83,162.16


Y 7,844.23

Y 7,927.11

| Digg This Article
 -- Published: Wednesday, 17 February 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.