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: Sep-9-2016 -- Gold and silver consolidating after sharp rise!

 -- Published: Friday, 9 September 2016 | Print  | Disqus 

Gold TodayNew York closed yesterday at $1,337.50 yesterday.  London opened at $1,335.80.

-         The $: € was slightly weaker at $1.1271 down from $1.1267 yesterday.

-         The Dollar index was stronger at 94.94 from 94.78 yesterday.

-         The Yen was weaker at 102.12 down from 101.62 yesterday against the dollar.

-         The Yuan was weaker at 6.6798 from 6.6640 yesterday.

-         The Pound Sterling was weaker at $1.3297 from yesterday’s $1.3348.


Yuan Gold Fix

Trade Date


Benchmark Price AM

Benchmark Price PM

      2016  09  9

      2016  09  8







Dollar equivalent @ $1: 6.6798

$1: 6.6640







Shanghai was roughly in line with New York’s close and London slipping a little lower.


When it comes to measuring either the increase in Chinese gold reserves or the gold imports to China we must say that the information provided by the Chinese is only what they want us to know. With last month’s announcement of a 5 tonne increase in official gold reserves we read into it that they want all to know they are continuing to increase their reserves but not at a visibly aggressive rate. There are several ways they can increase their reserves but not take them onto their books, ‘officially’.


We remind readers that they “own gold through their people”. That includes all gold currently inside their borders but primarily directly through state controlled institutions.


LBMA price setting:  The LBMA gold price setting on Friday was at $1,335.65. Yesterday it was at set at $1,348.00.


The gold price in the euro was set on Friday at €1,185.61 against yesterday’s 1,194.08.


Ahead of the opening of New York the gold price was trading at $1,336.55 and in the euro at €1,188.20.  At the same time, the silver price was trading at $19.48.


Silver Today –The silver price was pulled back to $19.62 at New York’s close down from $19.78, yesterday. 


Gold (very short-term) The gold price will consolidate, today in New York.      


Silver (very short-term) The silver price will consolidate, today in New York.


Price Drivers

Yesterday did not see any purchases of gold into the gold ETFs. As a result the gold price simply held at higher levels. All was quiet on the currency fronts leaving both silver and gold to mark time today. Physical demand of good sizes drives the gold price with dealers translating gold prices in line with exchange rate movements.


In our current issue of the Gold Forecaster we will discuss just what strategy will tremendously increase your returns in a time when gold prices are rising and just how to maximize returns, when it is not. [Subscribe: ]


Gold ETFs – There was a small sale of 1.187 tonnes from the SPDR gold ETF but no change in the holdings of the Gold Trust, leaving their respective holdings at 951.811 tonnes and 225.39 tonnes.


Since January 4th this year, the holdings of these two gold ETFs have risen by 376.899 tonnes.


Silver – The silver price followed gold lower to close at $19.62 yesterday and will be sensitive  to gold slippage.




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. 89,468.41


Y 8,930.16

Y 8,974.12


| Digg This Article
 -- Published: Friday, 9 September 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.