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 : February 19th, 2013
482 words - Reading time : 1 - 1 minutes
( 1 vote, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire

Gold Today – In New York on Friday the gold price held in a consolidation phase around $1,610 and held there in Asia and London before it was Fixed at $1,613.50 and in the euro at €1,208.795, while the euro was $1.3348, barely changed on yesterday. Ahead of New York’s opening, gold was $1,612.60 and in the euro at €1,209.94.

Silver Today – Silver closed at $29.98 in New York and fought to rise over $30 in London. Ahead of New York’s opening silver stood at $30.03.

Gold (very short-term)

We expect gold to consolidate around current levels, in New York today.

Silver (very short-term)

We expect silver to consolidate around current levels, in New York today.

Price Drivers

Gold & Silver – Since the end of the Chinese New Year Chinese demand came roaring back taking premiums in Hong Kong to highs that confirmed the returning demand. As you read in the media of how the gold price appears to be moved on the back of a confidence index or a release of trade figures or even a regional revelation in the U.S. it is as well to remind ourselves that the real driver of the gold price fall as well as rise is Asian demand. The run up to the Chinese Lunar New Year supported the gold price close to $1,700. As this demand evaporated at the start of the festivities the gold price plummeted down to $1,600. Chinese gold investors have been reported as saying, “We’re back!” this week so we watch to see if this will halt the fall or see the start of a rise. For sure, we will learn what drives the gold and silver prices.

Events of note this week are again events on the southern side of the E.U. with the Italian elections coming up next week and reports that France is headed towards sovereign debt problems now with its bloated bureaucracy. Across the Channel speculation that the pound is headed towards a hefty devaluation are circulating now. George Soros made a billion on the Yen lately, where is he now? These stories may contribute to fear, but to us these are symptomatic of the structural faults of the global money system which point the way forward.

The developed world is facing a frightening future. By 2030 80% of the world’s income that headed its way with 20% of it to the underdeveloped world poor will change to 35% to the developed world and 65% to the emerging world. [Subscribe to our newsletters at www.GoldForecaster.com and www.SilverForecaster.com] The implications of this change are vast and extremely gold positive!

Silver –Silver too is clinging onto the $30 level waiting for a new direction of to fall further. This week may well point the way!

Regards,

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

Global Gold Price (1 ounce)

Today

3 days ago

Franc

Sf1,487.37

Sf1,487.37

US

$1,611.80

$1,611.80

EU

1,206.52

€1,206.52

India

Rs.87,465.13

Rs.87,465.13


Companies Mentionned : Southern |
Data and Statistics for these countries : France | Hong Kong | India | All
Gold and Silver Prices for these countries : France | Hong Kong | India | All
<< Previous article
Rate : Average :5 (1 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
Opta Min.OPM.TO
Schedules First Quarter 2015 Financial Results Release
CA$ 1.31+0.77%Trend Power :
Financials
IthacaIAE.L
Ithaca Energy Inc. Announces Sale of Norwegian Exploration Business
GBX 51.25+3.54%Trend Power :
Corporate news
Forum Energy(Oil)FEP.L
Forum Energy beats 1Q profit forecasts
GBX 17.50+0.00%Trend Power :
Corporate news
First Majestic(Le-Zn-Au)FR.TO
NYSE stocks posting largest percentage decreases
CA$ 5.85-1.68%Trend Power :
Corporate news
Adriana Res.(Au)ADI.V
Adriana announces that it has filed a NI 43-101 Technical Report on the Lac Otelnuk Project on SEDAR
CA$ 0.11+0.00%Trend Power :
Corporate news
Sherritt International(Co-Coal-Ni)S.TO
Ambatovy Plant Strike Action Resolved
CA$ 2.18+4.31%Trend Power :
Corporate news
Claude Resources(Au-Cu-Ngas)CRJ.TO
Provides Date for Q1 Results and Conference Call
CA$ 0.63-3.08%Trend Power :
Corporate news
Claude Resources(Au-Cu-Ngas)CRJ.TO
Provides Date for Q1 Results and Conference Call
CA$ 0.63-3.08%Trend Power :
Corporate news
Stealth Ventures(Ag-Au-Cu)SLV.V
IIROC Trading Halt - SLV
CA$ 0.01+0.00%Trend Power :
Corporate news
Stealth Ventures(Ag-Au-Cu)SLV.V
Stealth Ventures Inc. Appoints Mark Roseborough as interim CEO and CFO Effective Immediately
CA$ 0.01+0.00%Trend Power :
Corporate news
Comments closed