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.com Radio: John Embry and Charles Hughes Smith, and your host Chris Waltzek
By: radio.GoldSeek.com

Gold – WE’RE “CLOSE ENOUGH”
By: Gary Savage

The Dangerous Dream of Secession
By: George Smith

Amid Bad Fundamentals, Gold Sector Rally May Have Begun
By: Gary Tanashian

Bitcoin Proves You Cannot Have Your Digital Cake and Eat it Too
By: Nathan McDonald

Relief Rally in Gold Mining Stocks
By: Jordan Roy-Byrne CMT, MFTA

The Morgan Report's Weekly Perspective
By: David Morgan

Outlook for gold – 2018
By: Alasdair Macleod

Stephen Poloz Right To Be Worried
By: Peter Diekmeyer

The Yield Curve And The Boom-Bust Cycle
By: Steven Saville

 
Search

GoldSeek Web

 
Gold and Silver Market Morning: April-8-2016 -- Waiting for something to happen?


 -- Published: Friday, 8 April 2016 | Print  | Disqus 

Gold TodayGold closed in New York at $1,240.30 up from $1,223.30 on Thursday. On Friday morning in Asia, it fell back to $1,235. London lifted it higher to see the LBMA price setting at $1,235.00 up from $1,237.50 on Thursday.

 

The dollar index is slightly lower at 94.36 down from 94.38 yesterday. The dollar is almost the same against the euro at $1.1390 up from $1.1391 on Thursday.

 

The gold price in the euro was set at €1,084.28 up from €1,086.38 yesterday.

 

Ahead of New York’s opening, the gold price was trading at $1,235.00 and in the euro at €1,084.28. 

 

Silver Today –The silver price closed in New York at $15.21 up from $15.07, up 14 cents yesterday. Ahead of New York’s opening the silver price stood at $15.24.

 

Gold (very short-term)

The gold price is ready to make a strong move, in New York today.    

 

Silver (very short-term)

The silver price will is ready to make a strong move, in New York today.    

 

Price Drivers

Yesterday was a quiet day for the gold, silver and currency markets after alarming, stronger moves in the Yen and while Janet Yellen’s comments were being digested. Today sees the same process going on, but the tightening of the trading range of both gold and silver tells us a strong move is imminent.

 

This is one of those days in the precious metal markets when people are looking around, waiting for something to happen. It’s Friday now, the day when we usually see the most action.

 

In our opinion the markets in gold and silver are rather like a cat getting ready to pounce. We expect the moves to be higher, but it could need more days of consolidation such as we have seen in the last week. Protect yourself from Gold Confiscation: www.Stockbridgemgmt.com

 

It’s also one of those days when one stands back to fine tune ones perspective. When we do that we see the Fed [and Treasury] making clear that they don’t want a strong dollar, something the media seems unwilling to accept. The consequences of this are to see the anguish among emerging and other developed world central banks as they see their currencies strengthen. Japan is openly discussing ways of making their currency weaker while at the same time Abe is stating countries should not intentionally weaken their currencies. Are we to believe that they do not intend to weaken their currency with their present interest rate policies? Surely not!

 

Interest rates and their prospects are driving exchange rates globally as well as equity markets. Their rises have little to do with positive economic prospects, making such rises stand on questionable foundations. This leaves them vulnerable.

 

With the ‘powers that be’ themselves warning of future crises, the prospects for gold and silver remain good and not subject to single daily events.

 

China added 9.02 tonnes of gold to its reserves last month. This is down from over 20 tonnes the previous month.

 

Gold ETFs - We saw no sales or purchases into the SPDR gold ETF on Thursday. There were however, purchases of 0.3 of a tonne into the Gold Trust yesterday. This leaves their holdings at 819.596 and 187.26 tonnes in the SPDR & Gold Trust respectively. 

 

Silver – The silver price continues to be consolidating around $15 still, ahead of a strong move.

 

Regards,

Julian D.W. Phillips

GoldForecaster.com | SilverForecaster.com | StockBridge Management Alliance

 

About GoldForecaster.com 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)

 

Today

Yesterday

Franc

Sf1,178.25

Sf1,184.59

US

$1,235.00

$1,237.10

EU

€1,084.28

€1,085.99

India

Rs.82,267.06

Rs. 82,236.22

China

Y 7,990.45

Y 8,002.68

 

 


| Digg This Article
 -- Published: Friday, 8 April 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.