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

Why 2017 Was a Year to Celebrate
By: John Mauldin

The Man Who Invented Christmas
By: Larry LaBorde

WORLD SILVER PRODUCTION: 3 Charts You Won’t See Anywhere Else
By: Steve St. Angelo

Explaining My Amazement About Those Turning Bullish On The Banking Sector Now
By: Avi Gilburt

Gold And Silver Futures Swing From Bearish To Bullish In Just Two Weeks
By: John Rubino

The Most Outlandish Gold Products You Can Buy
By: BullionStar

Trade Racks Up Gains as Bitcoin Steams Toward 22104
By: Rick Ackerman

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

Technical Scoop - Weekend Update Dec 17
By: David Chapman

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

 
Search

GoldSeek Web

 
Gold and Silver Market Morning: Aug-11-2016 -- Gold and silver prices consolidating!


 -- Published: Thursday, 11 August 2016 | Print  | Disqus 

Gold TodayGold closed in New York at $1,346.70 on Wednesday after Tuesday’s close at $1,340.60.  London opened at $1,346.

 

-         The $: € was barely changed at $1.1144 from $1.1146.

-         The dollar index fell to 95.82 from 95.82 Wednesday.

-         The Yen was stronger at 101.28 from Wednesday’s 101.84 against the dollar.

-         The Yuan was stronger at 6.6406 from 6.64 Wednesday.

-         The Pound Sterling was weaker at $1.2958 up from Wednesday’s $1.3050.

 

Yuan Gold Fix

Trade Date

Contract

Benchmark Price AM

Benchmark Price PM

2016  08  11

2016  08  10

SHAU

SHAU

287.34

288.63

287.36

289.47

Dollar equivalent @ $1: 6.6406

$1: 6.6400

 

$1,345.85

$1,352.02

$1,345.95

$1,355.95

 

All three chief global gold markets were in line in the last day. Looking at the Technical picture, we see that the gold price is showing a ‘quiet before the storm’.

 

The gold and silver markets are no place for the cautious now. Even a small bit of gold related news will trigger a strong move. Question is, “Which Way will it go”. [More in our newsletters – subscribe below].

 

LBMA price setting:  $1,344.55 after Wednesday 10th August’s $1,351.85.

 The gold price in the euro was set at €1,206.20 down €3.79 from Wednesday’s €1,209.98.

Ahead of the opening in New York the gold price stood at $1,345.45 and in the euro at €1,206.47. 

 

Silver Today –The silver price closed in New York at $20.17 on Wednesday up from $19.85 on Tuesday.  Ahead of New York’s opening the price was trading at $20.16.

 

Gold (very short-term)

The gold price will soon make as strong move either way, in New York.      

 

Silver (very short-term)

The silver price will make as strong move either way, in New York.      

 

Price Drivers

The most positive news today for gold and silver is the rapid approach of the “Gold Season” in September.

-         At this point the summer holidays for the developed world are coming to an end and the focus in the gold market is for jewelry producers to buy for the festive season at the end of the year.

 

-         In India, after falling to the lowest in seven years in the first half, demand for gold is certain to rise because of the excellent monsoon rains achieved this year since May continuing into September. This will boost rural demand during the festive season, starting in September.

 

-         In China, the expectation of a lower Yuan is broadcast in the Chinese media, encouraging growing demand in line with internal trends we mentioned in earlier newsletters from the Gold Forecaster.

 

-         In the last quarter of the year we expect U.S. demand for physical gold from investors in the shares of their Exchange Traded Funds to continue steadily. So far in 2016 investment demand for gold has overtaken the previous-ever high of 917 tonnes in 2009 [First half]  to reach 1,064 tonnes.

 

Gold ETFs – In New York on Wednesday there were no sales or purchases to or from the SPDR gold ETF or the Gold Trust. This left their respective holdings at 972.618 tonnes and 221.24 tonnes.

 

Since January 4th this year, the holdings of these two gold ETFs have risen by 396.243 tonnes.

 

Silver –Silver prices jumped over $20 in the last day and will hold and move strongly when we see the strong move, either way, which we now expect from gold prices.

 

Regards,

 

Julian D.W. Phillips

 

GoldForecaster.com | SilverForecaster.com | StockBridge Management Alliance [Gold Storage geared to avoid its confiscation]

 

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

Sf1,311.01

Sf1,311.68

US

$1,353.25

$1,333.55

EU

€1,206.47

€1,203.08

India

Rs.89,896.91

Rs. 89,139.82

China

Y 8,933.12

Y 8,883.44

 

 


| Digg This Article
 -- Published: Thursday, 11 August 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.