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

GoldSeek Radio: Ralph Acampora and CEO Niko Cacos, and Chris Waltzek

The Real Cost of Low-Fee Funds
By: John Mauldin

Equity Management Associates: Reversion to mean would send monetary metals soaring
By: Chris Powell

By: Trey Reik

The Coming Inflation Threat: The Worst Of Both Worlds
By: Charles Hugh Smith

SPX/Gold, 30yr Yields and Yield Curve - Amigos 1, 2 and 3 Updated
By: Gary Tanashian

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

Ira Epstein's Metals Video 10 19 2018
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - October 19, 2018

Gold Is Becoming Cool Again
By: John Rubino


GoldSeek Web

Gold and Silver Market Morning: Aug-18-2016 -- Gold and silver prices pushing resistance!

 -- Published: Thursday, 18 August 2016 | Print  | Disqus 

Gold TodayGold closed in New York at $1,346.50 on Wednesday after Tuesday’s close at $1,346.10.  London opened at $1,352.

-         The $: € was very weak at $1.1329 from $1.1262.

-         The dollar index was weak at 94.35 from 94.96 Wednesday.

-         The Yen was stronger at 100.08 from Wednesday’s 100.76 against the dollar.

-         The Yuan was slightly stronger at 6.6324 from 6.6330 Wednesday.

-         The Pound Sterling was slightly stronger at $1.3144 up from Wednesday’s $1.3014.


Yuan Gold Fix

Trade Date


Benchmark Price AM

Benchmark Price PM

2016  08  18

2016  08  17







Dollar equivalent @ $1: 6.6324

$1: 6.6330







In almost a repeat of yesterday Shanghai was much higher than New York’s closing but London decided to walk its own road at the opening, opening lower at $1,352. Dollar weakness continues heavily, as seen in the dollar index as well as against the euro. We are in a time when a large number of experts are calling the dollar higher, but it consistently does the reverse.


With emerging and higher risk nations offering higher yields, their currencies are strengthening and will continue to do so until we do actually see a rate hike [which we don’t expect until next year].


LBMA price setting:  $1,347.10 after Wednesday 17th August’s $1,342.75.


The gold price in the euro was set at €1,188.60 down €3.05 from Wednesday’s €1,191.65.


Ahead of the opening in New York the gold price stood at $1,350.15 and in the euro at €1,191.3. 


Silver Today –The silver price closed in New York at $19.66 on Wednesday down from $19.80 on Tuesday.  Ahead of New York’s opening the price was trading at $19.75.


Gold (very short-term)

The gold price will again consolidate trying to break higher, in New York today.      


Silver (very short-term)

The silver price will again consolidate trying to break higher, in New York today.      


Price Drivers

Yesterday saw heavy sales from the U.S. gold ETFs and this pulled New York prices down a little. Overnight saw prices rise in Shanghai which is leading the way lately, in setting gold prices.


Is it right to describe higher prices in Shanghai as a premium over New York/London’s prices or should we say that New York is trading at a discount to Shanghai?


The physical statistics says the second, but COMEX, until recently, led the way on gold prices. We are watching carefully to see if the pattern persists and if global markets take the lead in gold prices from Shanghai. This would mean that pricing power is moving to Shanghai. This is significant in that it alters the factors influencing the gold price, making them more globally oriented, as opposed to U.S. oriented. It would then make for a more believable gold price, both in monetary terms and physical terms.


The Fed Minutes described a split in the FOMC, but where the ‘hawks’ sat was on the non-voting side and the ‘doves’, led by Janet Yellen, sat on the voting side. The factors affecting the ‘doves’ were global influences as well as productivity, alongside wages. We can see that while the U.S. economy appears solid, the growth is low and not accompanied by a ‘healthy’ level of inflation. Hence the market views a rate hike in September with only a 21% likelihood and a hike early next year at a 50% likelihood. This prospect heightens the impact a rate hike will have on all global financial markets.


Gold ETFs – In New York on Tuesday there were sales of 4.453 tonnes from the SPDR gold ETF but no change in the holdings of the Gold Trust. This left their respective holdings at 957.775 tonnes and 223.85 tonnes.


Since January 4th this year, the holdings of these two gold ETFs have risen by 384.01 tonnes.


Silver –Silver prices should continue around current levels until there is a breakout in the gold price, one way or the other.




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. 89,924.29


Y 8,954.19

Y 8,913.09


| Digg This Article
 -- Published: Thursday, 18 August 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.