Chart usGOLD   Chart usSILVER  
 
Food for thought
Look to thy moat
Elizabeth  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1294.08-0.58
Silver 19.630.01
Platinum 1404.500.00
Palladium 794.900.90
WORLD MARKETS
DOWJONES 16409-16
NASDAQ 40969
NIKKEI 1451699
ASX 544532
CAC 40 443226
DAX 941092
HUI 220-2
XAU 90-1
CURRENCIES (€)
AUS $ 1.4802
CAN $ 1.5214
US $ 1.3811
GBP (£) 0.8224
Sw Fr 1.2201
YEN 141.4700
CURRENCIES ($)
AUS $ 1.0722
CAN $ 1.1021
Euro 0.7241
GBP (£) 0.5956
Sw Fr 0.8833
YEN 102.4300
RATIOS & INDEXES
Gold / Silver65.92
Gold / Oil12.41
Dowjones / Gold12.68
COMMODITIES
Copper 3.050.02
WTI Oil 104.300.83
Nat. Gas 4.740.21
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Gold and Silver Market morning, November 28, 2012
Published : November 28th, 2012
487 words - Reading time : 1 - 1 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet
Keywords :   Central Bank | Fixed | Global | Gold | Gold Market | India | Silver |

 

 

 

 

Gold Today –New York closed at $1,741.30 down $7.10. This morning, Asian and London dealers took the price down slightly alongside a declining euro ahead of London’s opening. It was Fixed at $1,741.00 down $6.25 on yesterday morning’s Fix. In the euro it was Fixed at €1,347.002 down €2.5, while the euro was slightly weaker at €1: $1.2925. Ahead of New York’s opening, gold was weaker at $1,738.75 and in the euro at €1,347.55.

 

Silver Today – New York closed at $34.00 down 8 cents. It then traded at $33.90 in London’s day before trading at $33.87, ahead of New York’s opening.

 

Gold (very short-term)

 

Gold is expected to consolidate, moved by the euro, with a weaker bias, in New York today.

 

Silver (very short-term)

 

Silver is expected to consolidate, moved by the euro, with a weaker bias, in New York today.

 

Price Drivers

 

Gold & Silver – The gold and silver prices are again locked in consolidation mode. Just as we thought it was going to break through resistance it slips back. Just as we see it slipping back as though the rally is fading, it turns around to attack resistance again. Last week we saw a clear upward direction given, but this week the strength, at this moment in time, appears insufficient to break resistance. But this could change in a heartbeat.

 

The technical picture is again pointing to some significant moves in the longer term patterns, which are moving to join the short-term patterns. Rather like a change of tide in the sea, the picture is complicating itself. Now is the time to keep closely in touch with market moves because of this changing pattern, as it will directly affect your investments suddenly. A sudden strong move will not give you time to correct any mistakes as it will be a long-term move not simply the usual trading ‘to and fro’ moves.

 

The gold price leads the silver price. The gold price is moved, long-term, by significant Asian demand as well as central bank demand. But its value is not simply a factor of demand and supply. The value of the currencies in which it is priced are themselves variables, distorting the purity of the demand and supply factors. It is these variables that can and do affect monetary [‘safe-haven’] demand. This makes for a complicated world of gold, but one that is gaining in significance. We have written many articles that focus on these complications, which we believe will have a growing significance in 2013 onwards. That’s why we see the gold market as the most fascinating of worlds. [Subscribe to our newsletters at www.GoldForecaster.comand www.SilverForecaster.com]

 

Silver – The silver price is marking time waiting for gold to show the way forward.

 

Regards,

 

Julian D.W. Phillips for the Gold & Silver Forecasters

 

Global Gold Price (1 ounce)

Today

3 days ago

Franc

Sf1,603.74

Sf1,596.84

US

$1,723.25

$1,719.25

EU

1,328.69

€1,322.25

India

Rs.92,542.83

Rs.92,607.40


 

 

Data and Statistics for these countries : India | All
Gold and Silver Prices for these countries : India | All
Tweet
Rate :Average note :0 (0 vote)View Top rated
Previous article by
Gold Forecaster
All articles by
Gold Forecaster
Next article by
Gold Forecaster
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis
Most recent articles by Gold Forecaster
1/16/2013
1/14/2013
1/7/2013
12/20/2012
12/18/2012
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer