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

Gold & Silver Market Morning

IMG Auteur
Published : January 26th, 2013
499 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



Gold Today – In New York the gold price pulled back $18 to $1,667.70. In Asia the gold price started to consolidate and held there. Then in London’s morning it tried to climb over $1,670 again where it Fixed at $1,670.25 and in the euro at €1,243.693 down €15. The euro strengthened to €1: $1.3460 up 1.3 cents in the euro. Ahead of New York’s opening, gold was $1,669.10 and in the euro at €1,240.32.

Silver Today – Silver closed strong in New York at $31.66. Ahead of New York’s opening silver stood at $31.69.

Gold (very short-term)

After the fall yesterday we should see gold consolidate, in New York today.

Silver (very short-term)

After the fall yesterday we should see silver consolidate, in New York today.

Price Drivers

Gold & Silver – Right now Federal Reserve Chairman Ben S. Bernanke’s unprecedented bond buying has pushed the Fed’s balance sheet to a record $3 trillion [the same a China’s reserves]. And the economy there is not taking off. There has to be a point, terrifying though it is, when the central bank has to say we can only do so much, government and business is responsible to start the engine of growth. With government suffering from a hormone failure and business very aware that caution is still the way forward because so many factors out of their control could squash their efforts once they start to expand a common consequence now seen is ‘hold back’. Uncertainty followed by an unstable economy is the result. Then with the sword of Damocles waiting to strike in the form of rising interest rates the wise are waiting. We are certain that the Fed thought he would have more support from the two, but it isn’t coming and may not come for a long time.

This is not very good for a rising gold price despite gold usually thriving in uncertainty. This time round the caution is with the investor too, also unclear on the way forward. A growing economy would be better for gold and silver, because investors would be freer to translate the uncertainty into buying gold. [Subscribe to our newsletters at www.GoldForecaster.com and www.SilverForecaster.com]. We do see another financial crisis building up in the developed world but not as a result of a simple asset bubble. We are with interest rates where we would have been at the start of a bull equity market with interest rates and have been for years now to no avail. In a healthy economy growth would have been roaring and the economy able to take rising interest rates, but not this time round!

Silver – The pullback in silver goes is again far larger than we see in gold, but that is the ongoing shape of the silver price. Should it turn upwards it will run further and faster than gold too.

Regards,

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

Global Gold Price (1 ounce)

Today

3 days ago

Franc

Sf1,541.41

Sf1,558.02

US

$1,669.10

$1,678.45

EU

1,240.32

€1,258.59

India

Rs.89,903.57

Rs.90,082.41


Data and Statistics for these countries : India | All
Gold and Silver Prices for these countries : India | All
<< Previous article
Rate : Average :0 (0 vote)
>> Next article
Julian Philips' history in the financial world goes back to 1970, after leaving the British Army having been an Officer in the Light Infantry, serving in Malaya, Mauritius, and Belfast. After a brief period in Timber Management, Julian joined the London Stock Exchange, qualifying as a member. He specialised from the beginning in currencies, gold and the "Dollar Premium". At the time, the gold / currency world exploded into action after the floating of the $ and the Pound Sterling. He wrote on gold and the $ premium in magazines, Accountancy and The International Currency Review. Julian moved to South Africa, where he was appointed a Macro economist for the Electricity Supply Commission, guiding currency decisions on the multi-Billion foreign Loan Portfolio, before joining Chase Manhattan the the U.K. Merchant Bank, Hill Samuel, in Johannesburg, specialising in gold. He moved to Capetown, where establishing the Fund Management department of the Board of Executors. Julian returned to the 'Gold World' over two years ago and established "Gold - Authentic Money" and now contributing to "Global Watch - The Gold Forecaster".
WebsiteSubscribe to his services
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Coronado Res.(Au-Cu)CRD.V
Initiates Strategic Review of Assets
CA$ 0.30+0.00%Trend Power :
Corporate news
Global Minerals(Cu-Sb-Au)CTG.V
IIROC Trading Halt - CTG
CA$ 0.00-83.33%Trend Power :
Corporate news
Erdene(Au-Cu-Mo)ERD.TO
Erdene Announces Private Placement
CA$ 0.12+0.00%Trend Power :
Corporate news
Foran Mining(Ag-Au-Cu)FOM.V
Foran Announces Best Hole Drilled to Date in the Bigstone Copper Zone: 2.0% Cu over 105m, including 4.1% Cu over 20m
CA$ 0.36-24.47%Trend Power :
Corporate news
Beacon Minerals(Ag-Au-Cu)BCN.AX
Completion of Fourth Milling Campaign
AU$ 0.00+0.00%Trend Power :
Corporate news
Impact Minerals(Au-Ni-Ur)IPT.AX
High Grades of Rare but Potentially Economic PGM Elements Assayed at Broken Hill
AU$ 0.02+30.77%Trend Power :
Corporate news
Golden Arrow Res.(Cu-Au-Ag)GRG.V
Golden Arrow Comments on Recent Trading Activity
CA$ 0.35+2.94%Trend Power :
Corporate news
Icon EnergyICN.AX
Icon Energy Ltd Appendix 3E Daily Buy-back Notice
AU$ 0.06+0.00%Trend Power :
Corporate news
Panoramic Res.(Co-Cu-Ni)PAN.AX
More good hits at Savannah, mineralisation extended
AU$ 0.43-2.27%Trend Power :
Exploration and drilling
Titanium Corp(Oil-Ti)TIC.V
Titanium Corporation Reports Fiscal 2015 Second Quarter Results and Update on Progress
CA$ 0.85-5.56%Trend Power :
Corporate news
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.