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

Gold Seeker Closing Report: Gold and Silver Gain Roughly 2% After Fed
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 21 2018
By: Ira Epstein

SSR Mining begins drilling at Eagles Plains (TSX-V: EPL) Fisher Gold Property
By: Nicholas LePan,

JPMorgan's Domination of COMEX Silver
By: Craig Hemke

Can Central Banks Manage the Deflation of an Everything Bubble?
By: Graham Summers

No, gold leased from central banks doesn't always have to be returned
By: Chris Powell

Why the World’s Central Banks hold Gold – In their Own Words
By: Ronan Manly

WATCH OUT BELOW: Dow Jones Index Next Stop… 19,000
By: Steve St. Angelo

Additional Signs for PMs Amid Increasing FOMC Tension
By: Przemyslaw Radomski, CFA

Credit Concerns In U.S. Growing As LIBOR OIS Surges to 2009 High
By: GoldCore


GoldSeek Web

Gold and Silver Market Morning: July-18-2016 -- Gold and silver prices trying to decide direction!

 -- Published: Monday, 18 July 2016 | Print  | Disqus 

Gold TodayGold closed in New York at $1,328.50 on Friday after Thursday’s close at $1,333.80.  In Asia, the gold price tried to rise slightly as Chinese demand over the last week has lifted prices from New York’s close, persistently. 

-         The $: € rose to $1.1054 down from $1.1135.

-         The dollar index rose to 96.58 from 96.07 Friday.

-         The Yen was slightly stronger at 105.66 from Friday’s 106.00 against the dollar.

-         The Yuan was weaker at 6.6980 from 6.6825 Friday.

-         The Pound Sterling was weaker at $1.3274 down from Friday’s $1.3352


-         Yuan Gold Fix

Trade Date


Benchmark Price AM

Benchmark Price PM

2016  07  18

2016  07  15







Dollar equivalent @ $1: 6.6980

$1: 6.6825







The Chinese gold market rose up from New York’s close as the Yuan continues to slide down towards 7.00 Yuan to the dollar.


Just as the Bank of England is waiting for more pertinent data before deciding on how much easing to put out there, so now we see the E.C.B. hesitating in the same way and for the same reason. They cannot act in the statistical darkness for fear of doing too much or too little. The bank of England is waiting until Augusts’ meetings and even then may delay further. Hindsight may tell them they waited too long or too little, but for now they would not be wise to act before seeing some light.


Gold ETFs in the U.S. were largely quiet except for a moderate purchase in the Gold Trust, but not enough to prevent the gold price falling.


LBMA price setting:  $1,326.15 down from Friday 15th July’s $1,330.50.

 The gold price in the euro was set at €1,199.70 up €3.58 from Friday’s €1,196.12.

Ahead of the opening in New York the gold price stood at $1,328.45 and in the euro at €1,201.89. 



Silver Today –The silver price closed in New York at $20.07 on Friday down from $20.25 Thursday.  Ahead of New York’s opening the price was trading at $19.87.


Gold (very short-term)

The gold price will consolidate in New York today.      


Silver (very short-term)

The silver price is will consolidate, in New York today.      


Price Drivers

With the E.C.B. now pausing before adding further stimuli, global financial markets are looking around somewhat wide-eyed at other global financial markets waiting for something more to happen or even just give some direction to markets. Brexit has created a brand new financial situation that no-one is able to quantify yet. Will there be cooperation between the E.U. and U.K. or will there be a bureaucratic breakdown as E.U. politicians and bureaucrats have a fit of temper over the situation. The latter is apparent at the moment as E.U. officials are suggesting that the U.K.’s voting powers be suspended in the E.U.!


But history shows that when a rupture, such as Brexit happens, it actually benefits the potentially ‘isolated’ nation, as they have incentives to promote growth internally. This is tremendously helped by lower exchange rates [we do not see the pound having finished its fall yet] and the loss of trading partners [quickly replaced by others who see big advantages]. Britain is too good at what it does to be replaced by others, for a very long time.


As with the U.S. and Donald Trump, as of now, the past patterns of political behavior are changing so dramatically that there are few relevant precedents for the new situations. What we see heralded by these changes is a diminishing of globalization.


For gold and silver investors these changes are very positive. [More in our newsletters – subscribe below].


Gold ETFs – In New York on Friday there were no sales or purchases into or from the SPDR gold ETF, but there were purchases of 1.44 tonnes into the Gold Trust, leaving their holdings at 962.845 tonnes and at 216.34 tonnes respectively.


Since January 4th this year, the holdings of these two gold ETFs have risen by 381.594 tonnes.


Silver –Silver prices suffered a setback on Friday as gold prices pulled back again. The robust nature of silver gave way as gold slipped and now sits below $20.00.

 We suspect that silver prices are like an arrow being pulled back with the bowstring waiting for gold prices to release it.



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. 89,414.08


Y 8,901.94

Y 8,915.80


| Digg This Article
 -- Published: Monday, 18 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 - 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.