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 Almost 1% While Stocks Drop Over 2%
By: Chris Mullen, Gold Seeker Report

GoldSeek Radio: Gerald Celente and Peter Schiff, and Chris Waltzek

The Housing Market Is Sliding Down The Wall It Hit In Late August
By: Dave Kranzler

Political Theater Goes into Overdrive as Shutdown Looms
By: Clint Siegner

SWOT Analysis: Will the Fed Hike Rates Again This Week?
By: Frank Holmes

Stock Marketís Stars are Crossed for an Ursa Major Upset
By: David Haggith

Watching For A Breakout In Gold
By: Justin Smyth

Technical Scoop - Weekend Update December 17 2018
By: David Chapman

A Turn In The Tide
By: Plunger

Gold Market Update
By: Clive Maund


GoldSeek Web

Itís not the Fed taking gold down, but the vote in Scotland [OPINION]

 -- Published: Wednesday, 17 September 2014 | Print  | Disqus 

By Michael J. Kosares

Some of you might be wondering what happened to gold at the 4pm (MDT) open, particularly in light of the rather benign, steady-as-she-goes Fed announcement.  This looks like it might have to do with the Scotland independence vote in the UK tomorrow. [One man's opinion]  A late poll has the vote closing to 51% (No) Ė 49% (Yes).  In other words a complete toss-up with the Yes vote gaining momentum going into tomorrowís proceedings.

The pound is tanking (see chart), so is the euro and Swissie. There has to be market concern about others in Europe perhaps getting ideas.  Mainstream media are focused on Catalan, Norther Italy, etc, but the real concern on the continent might be Greece, Italy, even France and the United Kingdom (the Tories appear dominant if Scotland breaks away and there is a clear movement within that party toward putting UKís European Union attachment to a vote).

As a result the dollarís on a crazy ride pushing gold south Ė with algos doing most of the damage.  In my view this is all very temporary as far as gold goes.  The monetary and financial market risks for all, including the United States, look much like the dump after the 2008 meltdown.  That was temporary with respect to the gold price if you will recall (and an incredible buying opportunity).

There will be much discussion on all this starting tomorrow. . . . . . . . .Though the dollar looks to be an early beneficiary, in the long run the ensuing turmoil in financial markets is likely to cause a flurry of gold buying, particularly in Europe, once the smoke clears.  There is much more to the vote in Scotland than meets the eye and the real dangers are within the cross-global financial institutions, just as they were in 2008.  MK



If you find value in this kind of alert, we invite you to stay tuned to this page for further updates.

You might also have an interest in our regularly published newsletters (free).  Sign up here and we will alert you by e-mail the next time one is released. 

| Digg This Article
 -- Published: Wednesday, 17 September 2014 | 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 - 2019 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, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.