Chart usGOLD   Chart usSILVER  
 
Food for thought
Liquidity breeds stupidity
Anonymous  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1287.010.21
Silver 19.450.00
Platinum 1419.500.75
Palladium 899.20-2.55
WORLD MARKETS
DOWJONES 1709815
NASDAQ 458023
NIKKEI 15425-35
ASX 56253
CAC 40 438115
DAX 94708
HUI 2463
XAU 1021
CURRENCIES (€)
AUS $ 1.4051
CAN $ 1.4283
US $ 1.3133
GBP (£) 0.7909
Sw Fr 1.2060
YEN 136.6500
CURRENCIES ($)
AUS $ 1.0710
CAN $ 1.0877
Euro 0.7614
GBP (£) 0.6026
Sw Fr 0.9178
YEN 104.0000
RATIOS & INDEXES
Gold / Silver66.17
Gold / Oil13.43
Dowjones / Gold13.29
COMMODITIES
Copper 3.150.01
WTI Oil 95.841.29
Nat. Gas 4.080.04
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Gold & Silver Market Morning
Published : February 25th, 2013
431 words - Reading time : 1 - 1 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet
Keywords :   Fixed | Global | Gold | Government | India | Italy | Ratings | Recovery | Silver |

Gold Today – The gold price continued to recover and opened in Asia above $1,590 with a steady euro. In London it was Fixed at $1,592.50 and in the euro at €1,201.89, while the euro was $1.3250. Ahead of New York’s opening, gold was $1,591.00 and in the euro at €1,195.96.

Silver Today – Silver closed at $28.68 in New York on Friday. Ahead of New York’s opening silver stood at $29.06.

Gold (very short-term)

We expect gold to consolidate ready to tackle the $1,600 level, in New York today.

Silver (very short-term)

We expect silver to continue to recover, in New York today.

Price Drivers

Gold & Silver – We have an answer to the question, “Have gold & silver hit a bottom?” The gold price is recovering as the news out of the east side of the Atlantic worsens. The recovery is not simply the rocket recovery that usually follows traders and speculators changing positions to the long side, but a broad spectrum of demand from different sources. This gives the recovery a solid footing now.

The U.K. has been downgraded after a year of warnings from the ratings agencies due to poor growth prospects and rising debt levels. We fear something much bigger than poorer growth is developing in the developed world overall.

In Italy we are waiting to see if there will be a strong enough government to really rule or will we see a repeat of the past and a government that fails to gain the confidence of outsiders. If this is the case then the euro will lose confidence and begin weakening again.

We have seen a separation of the euro from gold for several months now. We have always said that while gold moves inversely to the dollar, it should not move with the euro. It has moved inversely to all currencies and reflects the falling confidence in currencies per se.

But across the Atlantic the March 1st start of automatic spending cuts is here at the end of this week. Will this lower the dollar with the euro and the euro/dollar exchange rate barely move? [Subscribe to our newsletters at www.GoldForecaster.com and www.SilverForecaster.com]

Silver –The silver price is recovering with gold. What is remarkable with silver now is that the silver ETF, the Silver Trust, has seen a rise of nearly 200 tonnes while the price was falling while the gold ETF’ we follow fell nearly 60 tonnes over the same period!

Regards,

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

Global Gold Price (1 ounce)

Today

3 days ago

Franc

Sf1,471.83

Sf1,466.48

US

$1,591.00

$1,573.65

EU

1,195.96

€1,193.52

India

Rs.85,659.44

Rs.85,725.37


Data and Statistics for these countries : India | Italy | All
Gold and Silver Prices for these countries : India | Italy | All
Tweet
Rate :Average note :0 (0 vote)View Top rated
Previous article by
Julian D. W. Phillips
All articles by
Julian D. W. Phillips
Next article by
Julian D. W. Phillips
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Julian D. W. Phillips

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".
Julian D. W. Phillips ArchiveWebsiteSubscribe to his services
Most recent articles by Julian D. W. Phillips
8/29/2014
8/28/2014
8/27/2014
8/26/2014
8/25/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer