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
Latest Comments
A Salvo in the Battle for the Go...
27 Febovertheedge
I would argue that the devil is in the details, i.e. the definition of money. What the people of the US are using is currency. Currency bei...
A Salvo in the Battle for the Go...
26 FebFrankinca1
Sort of written for a PHD in economics, which gold believers (myself) are not often that well educated, have difficulty following. The definition o...
A Salvo in the Battle for the Go...
26 Feb07788525833
The dollar has a monopoly over all other types of money which is rammed down peoples throats by gun and drones , any one wanting to change this...
In Search of the Magic Wand: Car...
25 FebDoom
Yes, stay away from University of Phoenix, a school with a 9% graduation rate, that only gets students because it spends $200,000 a day on Google a...
Emails From Kiev: Free Speech Va...
25 Febovertheedge
"The problem is, the asshats associated with Poroshenko are even worse than he is." I'm assuming you mean the predators in the US White Ho...
The Bull Case For Gold This Year...
25 Febdepourcq
You talked about all the wrong reasons that gold will rise or fall, their is only one that everyone should know. The US has a debt of 18.134 trilli...
The Bull Case For Gold This Year...
25 Febneville
The fact that you are very lowly rated might be one of two things .1.You have been playing this card to often (Bear Joker) 2,The other is that you ...
Interventionism Kills: Post-Coup...
24 FebJosu O.
A nice summary of what actually happened. It's sad that few europeans and even fewer americans are going to read it. My opinion is that US...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Tinka Resources(Ag)TK.V
Announces AGM Results
CA$ 0.27-12.90%Trend Power :
Corporate news
Silver Standard(Ag-Au-Cu)SSO.TO
Early Glance: Silver companies
CA$ 6.57-0.90%Trend Power :
Corporate news
Pan American Silver(Ag-Au-Cu)PAAS
Early Glance: Silver companies
US$ 9.68+1.04%Trend Power :
Corporate news
Gold Fields(Cu-Ni-Mo)GFI
Early Glance: Gold companies
US$ 4.65+0.87%Trend Power :
Corporate news
Randgold Res.(Au)GOLD
- Total Voting Rights
US$ 79.19+0.24%Trend Power :
Corporate news
Continental Precious Min.(Ag-Au-Co)CZQ.TO
Engages Golder Associates for the Next Step in the Development of the Viken Project
CA$ 0.56-6.67%Trend Power :
Corporate news
Beaufield Res.(Ag-Au-Ni)BFD.V
Reports Annual General Meeting Results
CA$ 0.04-11.11%Trend Power :
Corporate news
Probe Mines(Ag-Au-Cu)PRB.V
Leading Independent Advisory Firms ISS and Glass Lewis Recommend Shareholders of Probe Mines
CA$ 4.94+0.82%Trend Power :
Corporate news
Newmont(Cu-Le-Ni)NEM
Why the Earnings Streak Will Continue for Newmont Mining (NEM) - Tale of the Tape
US$ 26.33+0.08%Trend Power :
Corporate news
Newmont(Cu-Le-Ni)NEM
Increased Earnings Estimates Seen for Newmont Mining (NEM): Can It Move Higher? - Tale of the Tape
US$ 26.33+0.08%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.