LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

COT Gold, Silver and US Dollar Index Report - August 23, 2019

Gold Mid-Tiers’ Q2’19 Fundamentals
By: Adam Hamilton, Zeal Research

Trump Floats Payroll & Capital Gains Tax Cues to Forestall Recession
By: Mike Gleason

How’s That Recession Coming, Dave?
By: David Haggith

Precious Metals Update Video: Jackson Hole Powell's Speech in focus today, Gold bias is up
By: Ira Epstein

Seven Key Words That Explain "Stupidly High" Prices
By: Daniel R. Amerman

Gold, Silver, Mining Stocks: Get Ready For A Huge Ride Higher
By: Dave Kranzler

On The Job Training
By: Ted Butler

Precious Metals Update Video: FOMC minutes: What's going on?
By: Ira Epstein

Economist Lays Out the Next Step to Wonderland for the Fed
By: Gary Tanashian


GoldSeek Web

Gold and Silver Market Morning: Feb-18-2016 -- Markets finding a foundation above $1,200

 -- Published: Thursday, 18 February 2016 | Print  | Disqus 

Gold TodayGold closed in New York at $1,208.20 up from Tuesday’s $1,199.60. In Asia, it held close to that level, but pulled back to $1,204 in London to be set at over $1,212 this morning but then slipped back to $1,204 before London opened. Then the LBMA set it at $1,204.40 up from $1,202.00 up $2.40, with the dollar index stronger at 96.85 up from Monday’s 96.54.


The dollar is slightly stronger again, against the euro at $1.1116 up from $1.1144 on Wednesday. The gold price in the euro was set at €1,083.48 up from €1,078.51.


Ahead of New York’s opening, the gold price was trading at $1,207.15 and in the euro at €1,087.82. 


Silver Today –The silver price stood in Asia at $15.27 up 5 cents at the close in New York.  Ahead of New York’s opening the silver price stood at $15.32.


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

Wednesday saw no purchases into the SPDR gold ETF but a purchase of 0.80 of a tonne into the Gold Trust, still waiting for gold to build a bottom. The holdings of the SPDR gold ETF are now at 710.954 tonnes and at 180.39 tonnes in the Gold Trust. Investors into these ETFs are certainly not sellers right now.


The gold price is holding over $1,200 settling and building a bottom there. This is reassuring bulls and worrying bears. We take note of the fact that U.S. investors have turned bullish on the physical side and we take further note that U.S. investors are not in a position to drive the gold price down with large physical sales. The ongoing weighty exports from London to Switzerland and to the Far East add to the draining of liquidity from the gold market in favor of Asia. Likewise, China’s demand at 215 tonnes of gold in December 2015 confirms just how great that demand is!


--  Protect yourself from Gold Confiscation:



In India, current demand when extrapolated points to 1,000 tonnes being ‘officially’ imported ignoring a vast amount over and above that through smuggling into the country to gain the 10% of unpaid duties.


When totaled for 2016 we see a picture of ongoing demand into Asia taking all of the newly mined gold supplies off the market. Against this, how can sellers dominate the prices of gold and silver?


The Fed and Japan

The news out of the Fed Minutes and out of Japan gives some clarity on the way forward for the gold and silver prices. The Fed’s worry and uncertainty on the way forward for the U.S. economy, due to influences outside the U.S. is new to the usually introverted and myopic investor opinions. While such a viewpoint is new, it is likely to be a feature of Fed and Treasury actions going forward. U.S. investors are used to the nation leading the world on the economic and monetary fronts. For investors to recognize that the U.S. is very much a part of the global economy and influenced by it is a difficult departure for them.  To us it is a forerunner to major structural changes in the monetary world.


As to Japan’s disappointing export performance [falling 14%] just reported, this confirms that it will take far more than monetary stimuli and exchange rate weakening action to bring about an economic revival in Japan. With the dislike of Japan by China, the current driver of global growth, these numbers are indicative of a much longer term picture.


Silver – The silver price continues to hold 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. 82,302.69


Y 7,867.00

Y 7,844.23



| Digg This Article
 -- Published: Thursday, 18 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 - 2019 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, Gold Seek LLC, its affiliates or advertisers., 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, Gold Seek LLC, is strictly prohibited. In no event shall, 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.