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

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

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

Please Introduce Yourself, Mr. Powell. Gold Awaits You
By: Arkadiusz Sieron

A Glimpse Of Precious Metal Mining’s Future: Hecla Buys Klondex For 59% Premium
By: John Rubino

With Rollback, Dodd-Frank Is Now Officially a Dud
By: Frank Holmes

Eagle Plain’s Partner SSR Mining Commences 18,000m Drill Program at Fisher Gold Project, Saskatchewan
By: Eagle Plains Resources Ltd.


GoldSeek Web

Gold and Silver Market Morning: March-9-2016

 -- Published: Wednesday, 9 March 2016 | Print  | Disqus 

Gold Today –Gold closed in New York at $1,261.40 down from $1,268.00 on Tuesday. In Asia this morning, it moved lower to $1,257 at one point and then in London until the LBMA price setting was set at $1,258.25 down from yesterday’s $1,274.10. The dollar index is slightly higher at 97.37 down from 97.17 on Tuesday.


The dollar is up against the euro at $1.0963 from $1.1009 on Tuesday. The gold price in the euro was set at €1,143.83 down from €1,157.33.


Ahead of New York’s opening, the gold price was trading at $1,254.1 and in the euro at €1,143.78. 


Silver Today –The silver price closed in New York at $15.36 down 29 cents.  Ahead of New York’s opening the silver price stood at $15.30.


Gold (very short-term)

The gold price will consolidate, in New York today.    


Silver (very short-term)

The silver price will consolidate, in New York today.    


Price Drivers

E.U. With Draghi of the E.C.B. shortly to announce more stimulus measures, skeptics are having their day. After all this time and after so much monetary stimuli has been injected into the Eurozone the results have been disappointing, so will larger negative interest rates and more QE do any better? What have been the results to date? Even after the central bank pumped about 720 billion into the region, manufacturing dropped to its lowest level since 2013, the inflation rate turned negative, and consumer confidence worsened.


With debt to GDP levels rising, the warnings from the BIS & IMF about the storms coming are on the brink of coming to pass.


Gold ETFs There were sales of 2.378 tonnes of gold from the SPDR gold ETF but purchases of 0.45 of a tonne into the Gold Trust yesterday. This is the first time we have seen sales of size from the SPDR gold ETF. It certainly helped the gold price to slip down.


What happen when such sales takes place is that HSBC, the Custodian of the Fund, can then sell that into China straight away and yet it won’t impact on London or New York prices. But HSBC cannot do the reverse by taking gold from China and selling it in London as it is illegal to export gold from China. And this is why selling in a market where globally, buying far outweighs selling prices can be made to fall. It continues to favor buying in Asia when this happens.


So while there are cries of “manipulation” to hold prices down, the evidence is that the structure of the gold market globally favors Asia continuing to buy gold at very low prices. While the banking and currency systems favor gold remaining out of favor, what is happening now is a ticking time bomb, taking us to the point where Asia controls the gold market and soon the gold price.


We continue to see gold and silver markets remaining very volatile in New York in the coming days as liquidity levels remain under visible pressure. However, after yesterday, we expect the volatility to come in, taking gold higher. Bear in mind, please, that physical gold buying in these markets does not create ‘spikes’. We expect COMEX to cause volatility as liquidity pressures continue, while London calms the market.


Protect yourself from Gold Confiscation: ]



Silver – The silver price is on the back foot now waiting for gold to go higher.




Julian D.W. Phillips | | StockBridge Management Alliance


Gold and Silver Market Morning


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. 85,223.35


Y 8,311.57

Y 8,275.70


| Digg This Article
 -- Published: Wednesday, 9 March 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.