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 Prices in
In the same category

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 :0 (0 vote)
>> Next article
IMG Auteur
Silver 13 abonnés
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Marine Le Pen Soars Into Lead in...
30 Januser47791
Some of the polled people must be voting for 2 presidents: the combined votes total at least 134%.
Are You Sure You Want to Delete ...
30 Jan077885258331
are you mad if you save where the government can see it touch it feel it they will take it, either through inflation, taxes or confiscation th...
Greece's Debt: Guess Who Pays in...
28 Janbelville19071
I have read better analysis from Adrian: Greece is in an extremely strong position and the EC has to give in. If Greece leaves and defaults on its ...
Koos Jansen: India's silver expo...
26 JanDoom
Heh, the title doesn't match the subject. I would have been shocked if India was really exporting silver, much less exporting a record.
Education is Too Important Not t...
26 Jansam_site1
Right on Ron. Americans don't understand that we have been fed a distorted version of history taught in our schools. The constant attempts by cri...
Job Site of the Future: Unmanned...
26 Janrhaacke
All this fear of automation taking over jobs is completely unfounded. It will never be possible for machines to make everyone unemployed. If everyo...
Jim Rickards: Gold price manipul...
26 Janstustev1
Jim, If the intent of the manipulation is to get more gold into China and it is imperative to accomplish this forthwith then why do not the wor...
Dollar Denial Ain't Just a River
24 Janovertheedge
"It all comes back to preparing for the worst, and letting the best take care of itself. Easy to say - hard to implement. " "Therefore, we...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.