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

The Dow Gold Ratio
By: Rambus

Friday’s COT Report: A WTF Moment For the Ages?
By: Ed Steer

Finally, Gold Speculators Start To Bail, Setting Up A Big Q1 2018
By: John Rubino

Gold Demand in the Singapore Bullion Market
By: BullionStar

Why Do You Keep Doing This To Yourself?
By: Avi Gilburt

Asian Metals Market Update: December-11-2017
By: Chintan Karnani, Insignia Consultants

GoldSeek.com Radio: Peter Schiff and Dan Norcini, and your host Chris Waltzek
By: radio.GoldSeek.com

Technical Scoop - Weekend Update Dec 10
By: David Chapman

Could gold do a bitcoin and hit $10,000 an ounce in 2018?
By: Peter Cooper

Automatic Job Storm Coming
By: John Mauldin

 
Search

GoldSeek Web

 
Gold and Silver Market Morning: June-23-2016 -- Brexit vote Day – All quiet on the ‘Western Front’ for now!


 -- Published: Thursday, 23 June 2016 | Print  | Disqus 

Gold TodayGold closed in New York at $1,266.20 up $0.30 on Wednesday ahead of the start of voting in Britain.  Asia took it up to $1,270 and London let it slip a dollar and a half, despite strong demand for physical gold in the U.S.

 

The $: € moved lower to $1.1336 from Wednesday’s $1.1271. The dollar index moved to 93.48 down from 93.89. It is a day when the dollar is weaker in the world’s main currencies, but the Yuan was weaker too.

 

Yuan Gold Fix

Trade Date

Contract

Benchmark Price AM

Benchmark Price PM

2016  06  23

2016  06  22

SHAU

SHAU

267.96

269.81

268.66

268.00

Dollar equivalent @ $1: 6.5797

$1: 6.5886

 

$1,266.70

$1,273.72

$1,270.01

$1,265.17

 

While the Yuan weakened against the dollar, the gold price in Shanghai was slightly stronger than New York, which led the way for London to follow. This showed clearly the small change in direction was due to the influence of Shanghai showing a measure of pricing power.

 

Gold prices worldwide are ‘on hold’ pending tomorrow’s result in Britain, after which we will see strong movements.

 

We believe that a ‘stay in’ vote has been discounted in global financial markets, to some extent.

 

At the moment, the positive Technical picture remains unchanged. We don’t expect any change, subject to tomorrow’s vote.

 

LBMA price setting:  $1,265.75 up from Wednesday 22nd June’s $1,265.00.

 

The gold price in the euro was set at €1,110.21 down from Wednesday’s €1,119.96.

 

Ahead of New York’s opening, the gold price was trading at $1,261.25 and in the euro at €1,110.60. 

 

Silver Today –The silver price closed in New York on Wednesday at $17.27 down from Tuesday’s $17.23 a rise of 4 cents. Ahead of New York’s opening the silver price stood at $17.31.

 

 

Gold (very short-term)

 The gold price will be quiet until the vote is announced, in New York today.    

 

Silver (very short-term)

The silver price will be quiet until the vote is announced, in New York today.    

 

Price Drivers

We have to be careful to not see the referendum in the U.K. as the ‘be all and end all’ in the global economy today. There are many other issues going on in other parts of the world.

 

The dollar is a weaker today, a factor totally unrelated to the British referendum. The news out of the E.U. from France is that manufacturing continues to fall into a contractionary state.

 

Repeat: The Pound Sterling continues at very strong levels! If the vote is to leave, expect a heavily plunging pound!

 

Currencies and precious metals are in gambler’s territory as the polls look pretty even!

 

Gold ETFs – On Friday the holdings of the SPDR & gold Trust rose another 3.564 tonnes as the physical buying continued at a fast pace, leaving its holdings at 915.898 tonnes. The Gold Trust saw no action yesterday and its holdings remain at 201.91 tonnes. 

 

Since January 4th this year, the holdings of these two gold ETFs have risen 321.022 tonnes.

 

Silver –Silver prices are stronger over yesterday’s price at $1741 but remain within reach of $17.30 and now wait for the vote to be announced at 7.00a.m. tomorrow morning.

 

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

Friday

Franc

Sf1,209.74

Sf1,212.63

US

$1,265.75

$1,265.40

EU

€1,110.60

€1,120.72

India

Rs.85,410.28

Rs. 85,340.47

China

Y 8,322.94

Y 8,325.32

 


| Digg This Article
 -- Published: Thursday, 23 June 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.