Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench

Gold & Silver Market Morning, January 09, 2012

IMG Auteur
 
 
Published : January 09th, 2012
498 words - Reading time : 1 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire

 

 

 


Asia saw the gold price drift down to $1,608 before it pulled it up to $1,622 as London opened. This was a vigorous start to the week. The euro did not fare as well, falling back to €1: $1.2764, but better than its start at €1: $1.2695. The gold price Fixed at less than market at $1,618.00 and in the euro at €1,266.536 when the euro stood at €1: $1.2775. Ahead of New York’s opening the gold price slipped slightly to $1,617.00 again notably higher in the euro, with the euro at €1: $1.2756 leaving gold in the euro at €1,267.64.



Silver continued its steady if uneventful path at $29.15 slightly down on Friday. Ahead of New York the silver price fell slightly to $28.89.



Gold (very short-term)




Again, the gold price should have a mixed to better day, in New York today as it battles resistance.



Silver (very short-term)



Again, the silver price should have a mixed to better day, in New York today as it battles resistance.



Price Drivers


With Sarkozy facing a disappointed electorate, despite his sterling efforts and an election in the months to come he is making new efforts to resolve the Eurozone crisis with Angel Merkel. It can only be a few weeks though when his political priorities override his financial ones and he has to face off against Merkel’s toughness. We still cannot see any clear solutions to the pressures the E.U. is facing, but the Eurozone will limp on until a banking crisis forces some action out of politicians. Until then the euro will fall. It is unlikely that gold will slip [except with sharp falls in the euro temporarily] with the euro, as it has already broken the link its to it last week. If this continues expect precious metal market fears to subside.



We are also watching gold’s behavior in New York to see if the pattern of pulling down the price, after the Fixes, will continue. The traders that have done that have begun to pay a heavy price for doing so. If they believe this is not wise, then the downward pressure on the price will abate.


In this week’s issue we will be looking at the financial markets heavy focus on short term moves and why the saying goes, “People don’t buy gold to make money, they buy it because they have money.” [More on this in our weekly newsletters and on our website [So subscribe through www.GoldForecaster.com or www.SilverForecaster.com]   



While the U.S. economy seems to be growing the developed world’s central banks remain worried about deflation. We are of the opinion that despite the heavily ballooning of central bank balance sheets, not enough liquidity, moving at an accelerating pace is in the system. This may well shock the developed world economies this year.



Regards,


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


Global Gold Price (1 ounce)

Today

1 day ago

Franc

Sf1,558.97

Sf1,553.41

US

$1,698.22

$1,691.80

EU

1,269.22

€1,262.34

India

Rs.88,434.81

Rs.88,591.11



 

<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Here We Go Again: Banks Are Impl...
02:27sonora69
What is going to happen NEXT Monday? The Shanghai markets are closed all this week for the Lunar New Year. Monday morning ( or Sunday night U.S. t...
First Report since April, 2014
05 FebAndy_K1
Jason, One of your articles written way back is one of the reasons I started paying attention to silver and shortly thereafter started to ...
Something has Changed in Gold St...
06 Febneville
No nothing strange has happened in GOLD stocks....absolutely nothing.....The fact of the matter is that you byrne have been playing the man and...
The Revisionist Theory and Histo...
05 Febovertheedge
"The key is in the hand of the U.S. government. It is the same key that was used to lockthe U.S. Mint to silver in 1873, and to gold sixty years la...
First Report since April, 2014
05 FebS W.1
Here I was just 2 days ago thinking whatever happened to that evangelical silver guy. Low and behold up he springs, like some spirit from the g...
LBMA Silver “Price”: A Perfect S...
03 FebS W.
There is no doubt that the Comex can be used as a casino for those who want to trade Silver up/or down or maybe some just wish to take a small punt...
LBMA Silver “Price”: A Perfect S...
30 JanOzSILV1
Bron refuses to EVER admit this market is a Casino and the disconnect between Paper and Physical is a big clue to this
LBMA Silver “Price”: A Perfect S...
30 JanS W.
Usually I enjoy Bron's take on things,but to be perfectly honest, I can't understand 95% of what he his on about here. I get the feeling that h...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Lara Expl.(Cu-Zn-Au)LRA.V
Revised Resource Estimate Report Filed for Maravaia Copper Gold Deposit
CA$ 0.34+1.49%Trend Power :
Corporate news
Black HillsBKH
Black Hills reports 4Q loss
US$ 51.64-2.75%Trend Power :
Corporate news
Kinder Morgan(Oil)KMP
Midstream Companies Were above the 20-Day Moving Averages
US$ 102.03+1.98%Trend Power :
Corporate news
Kinder Morgan(Oil)KMP
Midstream Companies Were above the 20-Day Moving Averages
US$ 102.03+1.98%Trend Power :
Corporate news
Devon Energy(Ngas-Oil)DVN
Gasoline Inventories Rose Last Week despite Fall in Production
US$ 21.34+0.42%Trend Power :
Corporate news
United States Steel(Fe-Sn)X
U.S. Steel (X) States Ratification of Labor Agreements
US$ 7.51+9.96%Trend Power :
Corporate news
Black HillsBKH
4:34 pm Black Hills Corp beats by $0.04, misses on revs; guides FY16 EPS below consensus
US$ 51.64-2.75%Trend Power :
Corporate news
Black HillsBKH
Black Hills Corp. Reports 2015 Fourth Quarter and Full Year Results
US$ 51.64-2.75%Trend Power :
Corporate news
Transcanada PipelinesTRP.TO
TransCanada to Sign Substantial Agreement to Benefit Québec Economy
CA$ 48.65+0.16%Trend Power :
Corporate news
Devon Energy(Ngas-Oil)DVN
4Q15 Crude Oil Prices: Fallout for the Energy Sector and SPY
US$ 21.34+0.42%Trend Power :
Corporate news
Comments closed