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 with Stocks
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 15 2018
By: Ira Epstein

Will The Fed Sacrifice Retirement Portfolio Values For The "Common Good"?
By: Daniel R. Amerman, CFA

Here's How We Discovered This Disruptive Gold Stock... Before It Went Public
By: Frank Holmes

GoldSeek Radio Nugget: Rob Kirby and Chris Waltzek

Silver: Supported by D.C. and The Deep State
By: Gary Christenson

Blue Sky Uranium Reports over 1% U3O8 and 0.1% V205 in Pit Sampling Adjacent to Ivana Uranium-Vanadium Deposit
By: Blue Sky Uranium Corp.

Gold Oil and Commodities …Back to the Future?
By: Rambus

Investors And Analysts Know Nothing About Gold
By: Avi Gilburt

The New China and Gold
By: Arkadiusz Sieron


GoldSeek Web

Gold and Silver Market Morning: July 5 2017 - Gold stabilizing at lower levels, Silver double bottom?

 -- Published: Wednesday, 5 July 2017 | Print  | Disqus 

Gold Today New York was closed yesterday after closing at $1,222.30 Monday. London opened at $1,223.00 today. 


Overall the dollar was stronger against global currencies, early today. Before London’s opening:


 -         The $: € was stronger at $1.1356 after yesterday’s $1.1398: €1.

-         The Dollar index was slightly stronger at 96.25 after yesterday’s 96.24. 

-         The Yen was weaker at 113.51 after yesterday’s 113.18:$1. 

-         The Yuan was stronger at 6.7988 after yesterday’s 6.8025: $1. 

-         The Pound Sterling was weaker at $1.2908 after yesterday’s $1.2930: £1.


Yuan Gold Fix

Trade Date


Benchmark Price AM 1 gm

Benchmark Price PM 1 gm

      2017    7    5

      2017    7    4           

      2017    7    3








Trading at 270.60



$ equivalent 1oz at 0.995 fineness

 @    $1: 6.7988

        $1: 6.8025

        $1: 6.78803    







Trading at $1,232.95



Please note that the Shanghai Fixes are for 1 gm of gold. From the Middle East eastward metric measurements are used against 0.9999 quality gold. [Please note that the 0.5% difference in price can be accounted for by the higher quality of Shanghai’s gold on which their gold price is based over London’s ‘good delivery’ standard of 0.995.]


Shanghai followed New York nearly all the way down yesterday closing at only $3 higher than New York’s Monday close. Early in its day, but then turned up and is continuing to rise today. We believe that Shanghai does have the pricing power to turn both London and New York today, but we watch carefully to see it this is so. It is a critical day for the gold price.


We need confirmation of the path of the gold price today as its direction can go either way right now.


Silver Today –Silver closed at $16.08 yesterday [in London] after $16.14 at New York’s close Monday. As with gold, silver is stabilizing at lower levels. As we said yesterday, silver ignores its own fundamentals and will follow gold as a monetary metal, both ways further and faster. We are expecting the silver price to be volatile, but with the present stabilizing, we hope to see a clear direction in the price of gold and silver. The question remains, is silver forming a double bottom?


LBMA price setting:  The LBMA gold price was set today at $1,221.90 from yesterday’s $1,224.25.  The gold price in the euro was set at €1,079.23 after yesterday’s €1.078.73.


Ahead of the opening of New York the gold price was trading at $1,222.30 and in the euro at €1,078.53. At the same time, the silver price was trading at $16.00. 


Gold (very short-term)  The gold price should consolidate today and confirm direction, in New York  today.      


Silver (very short-term)  The silver price should consolidate today and confirm direction, in New York  today. 


Price Drivers

While the gold price has broken down through the ‘Golden Cross’ and the Technical picture does not look so good, there are more than one probabilities for the gold price going forward. Today is critical to pointing  the way forward for both the silver and gold prices. Are we looking for a rebound back to the “Golden Cross” then another heavy fall, or has all the work done by the gold price to get above that critical line at $1,250 been for nothing? This is when the fundamentals kick in as well as the behavior of the burgeoning Shanghai Gold Exchange. Gold and silver could go either way today!


As we said yesterday, “…. With currency volatility heightened as the dollar struggles to stay above its own support levels, we would be hesitant to conclude that ‘all is lost’ for gold. Will the gold price return to is past pattern of rising and falling with the euro and the other way to the dollar? If so, our expectation of some heavy falls in the $: should see the gold price rising. But if it has divorced itself from this relationship and is walking its own road, it will fall. [Subscribe to Gold Forecaster for our forecasts].


Gold ETFs – As New York was closed yesterday, the SPDR gold ETF and Gold Trust holdings remain at 846.289 tonnes and at 210.35 tonnes respectively.


Since January 4th 2016, 206.918 tonnes of gold have been added to the SPDR gold ETF and to the Gold Trust.  Since January 6th 2017 44.225 tonnes have been added to the SPDR gold ETF and the Gold Trust.




Julian D.W. Phillips | StockBridge Management Alliance  To ensure you can benefit from the future higher gold prices we will see then, you need to hold it in a manner that makes sure it can’t be taken from you. Contact us at to buy physical gold in a way that we feel, removes the threat of it being confiscated. We’re the only storage company that offers that!


About Service: 

We focus on keeping our readers on top of the 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, 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 $89 trial subscription and gain immediate access to the latest weekly Gold Forecaster Newsletter!


 Global Gold Price (1 ounce)















Rs. 79,391.18

| Digg This Article
 -- Published: Wednesday, 5 July 2017 | 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.