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 Fall Before Fed Day
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 20 2018
By: Ira Epstein

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

Jack Chan's Weekly Precious Metals Update
By: Jack Chan

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

The Crypto Market Conundrum
By: Ryan Wilday


GoldSeek Web

Gold and Silver Market Morning: July-25-2016 -- Gold and silver prices sitting on support!

 -- Published: Monday, 25 July 2016 | Print  | Disqus 

Gold TodayGold closed in New York at $1,323.10 on Friday after Thursday’s close at $1,333.10. 

-         The $: € was down at $1.0991 down from $1.1028.

-         The dollar index fell to 97.27 from 97.01 Friday.

-         The Yen was barely changed at 106.23 from Friday’s 106.21 against the dollar.

-         The Yuan was stronger at 6.6786 from 6.6722 Friday.

-         The Pound Sterling was weaker at $1.3149 down from Friday’s $1.3184.


Yuan Gold Fix

Trade Date


Benchmark Price AM

Benchmark Price PM

2016  07  25

2016  07  22







Dollar equivalent @ $1: 6.6786

$1: 6.6722







Shanghai prices were lower than at New York’s close, while London tried to pull prices lower at the opening and thereafter.


A strengthening dollar is at the heart of the weakness in gold and silver prices. We do not believe the dollar will get that much stronger and echo the opinion that the dollar is unlikely to rise higher than $1.07 against the euro. This helps to explain the limited Technical downside to gold prices.


Gold prices, in the three main global gold markets, continue to move very much in line with each other, reflecting the prices in the Futures and Options markets. With gold ETFs demand at low levels we expect this to continue, until gold ETF demand rises.


LBMA price setting:  $1,315.00 after Friday 22nd July’s $1,322.00.

 The gold price in the euro was set at €1,196.22 down €2.76 from Friday’s €1,198.98.

Ahead of the opening in New York the gold price stood at $1,317.30 and in the euro at €1,199.02. 



Silver Today –The silver price closed in New York at $19.64 on Friday down from $19.85 on Thursday.  Ahead of New York’s opening the price was trading at $19.44.


Gold (very short-term)

The gold price should consolidate in New York today.      


Silver (very short-term)

The silver price should consolidate in New York today.      


Price Drivers

With both gold and silver prices now sitting on strong support we would expect their prices to move sideways, today, with the potential to move higher if we see a resuscitation of physical demand via the Exchange Traded Funds. [More in our newsletters – subscribe below].


Physical demand in the U.S. remains the principal driver of the gold price. If that demand slackens, prices subside slightly, much in line with the rise of the dollar. We don’t see the acquisition of gold via gold ETF investors ceasing, simply waiting for a piece of news that reminds them of the economic and monetary dangers that lie ahead.


With a recession in the U.K. imminent and the banking crisis rapidly moving to fruition, daily we see more and more reasons to retain gold holdings and buy more. We cannot see data that even remotely persuades us to sell gold or silver.


China continues to acquire as much gold as possible either by the acquisition of gold mining companies or by the direct purchases of gold in the bullion markets. They can see the dangers ahead for currencies and realize that their currency and its well-being may well rely heavily on the number of ounces of gold it has under its control when the paw-paw hits the fan.


Gold ETFs – In New York on Friday there were sales of 0.012 of a tonne of gold from the SPDR gold ETF, but no sales or purchases from the Gold Trust, leaving their holdings at 963.154 tonnes and 217.54 tonnes, respectively.


Since January 4th this year, the holdings of these two gold ETFs have risen by 383.079 tonnes.


Silver –Silver prices could have a quiet time this week, until gold leads the way 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. 88,887.67


Y 8,797.98

Y 8,843.38


| Digg This Article
 -- Published: Monday, 25 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.