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Gold & Silver Market Morning

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Published : August 25th, 2015
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Category : GoldWire

Gold Today -On Monday New York closed at $1,153.10 down $6.30. The dollar was weaker at $1.1539 this morning down from $1.444 on Monday with the dollar Index weaker at 93.39 down from 94.94 yesterday. This morning the LBMA gold price was set at $1,154.25 up $0.75. The euro equivalent was ?1,002.21 down ?3.90 as the euro stabilized. Ahead of New York's opening, gold was trading at $1,148.70 and in the euro at ?997.70.

Silver Today - The silver price closed at $14.78 down 50 cents over Monday's close in New York. Ahead of New York's opening today it was trading at $14.88.

Gold (very short-term) The gold price will consolidate today in New York.

Silver (very short-term) The silver price will consolidate today in New York.

Price Drivers

The Shanghai equity markets continued to tumble today as the panic continued unabated taking the index below 3,000 and closing with a fall of 7.6%. The gold price in the Yuan was relatively unmoved. This would not have gone unnoticed by investors in China and will serve to promote gold as a safer investment there, in the future.

Meanwhile oil prices, the Yuan and the global financial instability will all combine to persuade the Fed to hold off on a September rate rise. While Lockhart of the Fed stated that he expected a rate rise in this year it is most likely to be at the end of the year or later.

The general feeling in financial circles today is that we are seeing a structural fracture across the globe that makes short-term numbers [such as the latest growth figures in Germany - annualized 1.6% growth] something of the past and not relevant to the future. Oil prices still have a way to fall and global growth looks uncertain as evidenced by panicky global investor sentiment. The 1,000 point fall of the DOW at the opening was due to Algorithm trading. Other equity markets across the world were quickly infected by panic, which is now stabilizing. But fear has replaced confidence in global equity markets. The S & P is 11% down from its May highs.

With global currencies stabilizing at lower levels one asks, "What next?" The speed of the declines is most alarming as such markets were thought to be immune to such precipitous falls. But it has happened. We expect such heavy volatility in global financial markets to continue. There were purchases of 3.278 tonnes into the SPDR gold ETF and o.45 of a tonne bought into the Gold Trust This leaves the holdings of the SPDR gold ETF at 681.105 tonnes and 162.07 tonnes in the Gold Trust.- Subscribewww.goldForecaster.com [See our new gold buying, transferring and storing operation:www.Stockbridgemgmt.com ]

Silver- Silver is stabilizing waiting for gold to lead the way. Subscribe www.SilverForecaster.com

Regards,

Global Gold Price (1 ounce)

Today

Yesterday

Franc

Sf1,082.02

Sf1,085.93

US

$1,148.70

$1,159.50

EU

?997.70

?1,007.65

India

Rs.75,837.17

Rs. 77,283.57

China

Y 7,434.39

Y 7,544.05


Data and Statistics for these countries : China | Germany | All
Gold and Silver Prices for these countries : China | Germany | All
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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
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