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

SWOT Analysis: Gold Is Now 85 Times More Expensive Than Silver
By: Frank Holmes

Why Are Wages So Low
By: Keith Weiner

GoldSeek Radio: Dr. Raymond Moody and John Williams, and Chris Waltzek

Technical Scoop - Weekend Update September 24 2018
By: David Chapman

What Comes Next
By: Adam Taggart

China for the Trade Win?
By: John Mauldin

US/Global Stocks, Commodities, Precious Metals and the ‘Anti-USD’ Trade
By: Gary Tanashian

Central Bank Gold Purchases Now Control 10% Of The Total Market
By: Steve St. Angelo

Good, Bad and the Not-So-Ugly in Gold
By: Rick Ackerman

Gold Seeker Weekly Wrap-Up: Gold and Silver Find Modest Gains on the Week
By: Chris Mullen, Gold Seeker Report


GoldSeek Web

Gold Market Morning: July-7-2016 -- Gold and silver prices pause before moving higher!

 -- Published: Thursday, 7 July 2016 | Print  | Disqus 

Gold TodayGold closed in London at $1,364.oo on Wednesday after Tuesday’s New York close at $1,355.60.  In Asia the gold price held at close to its previous close, as you can see below. We continue to see the Yuan trend lower.

-         The $: € slipped to $1.1066 down from $1.1058.

-         The dollar index was almost unchanged at 96.17 from 96.19 yesterday.

-         The Yen was slightly weaker at 101.00 from at 100.41 against the dollar.

-         The Yuan was slightly stronger at 6.6820 from 6.6900 yesterday.

-         The Pound Sterling fell to $1.2968 down from $1.2987! It fell to $1.2798 at one point this morning.


Yuan Gold Fix

Trade Date


Benchmark Price AM

Benchmark Price PM

2016  07  7

2016  07  6







Dollar equivalent @ $1: 6.6847

$1: 6.6900







Shanghai saw gold prices hold higher than both London and New York, but only slightly [$4]. We cannot read too much into this difference due to the current market volatility in both currency and gold prices. [More on this in our newsletters - see addresses for subscription]


LBMA price setting:  $1,367.10 up from Wednesday 6th July’s $1,370.00.

 The gold price in the euro was set at €1,232.45 down €5.46 from Tuesday’s €1,237.91.


Ahead of the opening in New York the gold price stood at $1,362.35 and in the euro at €1,229.67. 



Silver Today –The silver price closed in London on Monday at $20.09 up from $19.95 the day before.  Ahead of New York’s opening the price was trading at $19.90.


Gold (very short-term)

The gold price should resume its move higher in New York today.    


Silver (very short-term)

The silver price should move higher today in New York.    


Price Drivers

While global financial markets are slightly calmer today, we see them digesting the worrisome information coming out of the impending crises areas. None of the information has changed but global financial markets need to get a sense of proportion and measure each factor within this context. For instance the Italian Banking crisis can drag out through the summer and could gain the green light for the Italian government to inject funds into them. Then it appears that in the short to medium term, the crisis would evaporate.


To give background to the E.U. systemic problems, we note that France, Italy and Germany have elections coming up. The political problems of Europe could spill over into the financial worlds easily. On top of that, the structure of the E.U. will come under intolerable strain if just one country exits the E.U. [More in our newsletters – subscribe below]


Gold ETFs – In New York yesterday there was a tiny sale of 0.277 of a tonne from the SPDR gold ETF leaving its holdings at 982.444 tonnes. But there was a purchase of 1.76 of a tonne into the Gold Trust taking its holdings up to 213.19 tonnes.


Since January 4th this year, the holdings of these two gold ETFs have risen by 398.848 tonnes.


Silver –Silver prices are pausing, but we expect for only a short while before moving higher, again.



Julian D.W. Phillips | | StockBridge Management Alliance [Gold Storage geared to avoid its confiscation]


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. 92,751.75


Y 9,102.54

Y 9,148.18


| Digg This Article
 -- Published: Thursday, 7 July 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 - 2018 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.