Chart usGOLD   Chart usSILVER  
 
Food for thought
Never believe anything in politics until it has been officially denied
Otto von Bismark  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1206.86-1.12
Silver 16.950.00
Platinum 1278.20-15.60
Palladium 765.25-5.00
WORLD MARKETS
DOWJONES 17043-28
NASDAQ 4493-12
NIKKEI 16166-8
ASX 529727
CAC 40 441658
DAX 947451
HUI 196-4
XAU 81-2
CURRENCIES (€)
AUS $ 1.4521
CAN $ 1.4147
US $ 1.2624
GBP (£) 0.7792
Sw Fr 1.2057
YEN 138.6270
CURRENCIES ($)
AUS $ 1.1504
CAN $ 1.1207
Euro 0.7922
GBP (£) 0.6173
Sw Fr 0.9551
YEN 109.8230
RATIOS & INDEXES
Gold / Silver71.20
Gold / Oil13.39
Dowjones / Gold14.12
COMMODITIES
Copper 3.04-0.02
WTI Oil 90.160.40
Nat. Gas 4.130.01
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Gold and Silver Market morning, December 11, 2012
Published : December 11th, 2012
529 words - Reading time : 1 - 2 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet

 

 

 

 

Gold Today –New York closed at $1,709.10 up $5 on yesterday. This morning, Asian & London dealers held it around that level until it was Fixed at $1,709.75 up $1.25 on yesterday. In the euro it was Fixed at €1,318 down €6 while the euro was slightly stronger at €1: $1.2970. Ahead of New York’s opening, gold was $1,709.4 and in the euro at €1,320.58.

 

Silver Today – Silver closed almost exactly the same in New York at $33.06 yesterday. In Asia and London, silver held at the low $33 level at $33.07 where it stood ahead of New York’s opening.

 

Gold (very short-term)

 

Gold is expected to show a fairly neutral bias, in New York today.

 

Silver (very short-term)

 

Silver is expected to show a fairly neutral bias, in New York today.

 

Price Drivers

 

Gold & Silver – In tomorrow we expect to hear news of more Treasury buying by the Fed which it will do by raising the amount of Mortgage bonds it buys from $40 billion a month to $45 billion a month. They view this stimulus as what’s needed to sustain the economy and reinforce improvements in industries such as autos and housing, which appear to have picked up. The Fed’s latest round of quantitative easing will total $1.1 trillion, with about $620 billion in mortgage-backed securities and $500 billion in Treasuries. They have to get the economy up to a speed where the momentum will carry it forward without this support. If they fail and momentum slows then the whole QE program will turn toxic and create accelerating monetary inflation. That’s why so many worry about quantitative easing so much. Nevertheless it will undermine the value of the dollar anyway and in the process and over the longer term, boost precious metal prices. Any sign of runaway monetary inflation and precious metal prices will take off never to look back. . [Subscribe to our newsletters at www.GoldForecaster.com and www.SilverForecaster.com] The most sensible aspect of Q.E. is that it helps the consumer at ground level. It will raise house prices as mortgages become cheaper, leaving more disposable income in consumer’s pocket and hopefully improve the jobs market as 70% of the U.S. economy is driven by the consumer. But as we said, it will benefit precious metal prices as the dollar’s buying power is reduced.

 

The concept of looking for a quiet peaceful untroubled world on the path to economic recovery is to become less likely, according to U.S. Intelligence agencies. The scope and likelihood of change in the next 17 years is enormous on all fronts including the political, economic and monetary fronts. If we accept this report, then investors will have to re-evaluate their strategies for the long-term. Particularly Pension Funds whose view has to be up to 30 years or more to cover the working life of the average worker. This is gold and silver positive!

 

Silver – Silver should follow gold but may well show more vigor on the upside!

 

Regards,

 

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

 

Global Gold Price (1 ounce)

Today

3 days ago

Franc

Sf1,568.37

Sf1,583.02

US

$1,692.15

$1,702.50

EU

1,295.08

€1,301.01

India

Rs.91,613.85

Rs.92,959.11


 

 

Data and Statistics for these countries : India | All
Gold and Silver Prices for these countries : India | All
Tweet
Rate :Average note :0 (0 vote)View Top rated
Previous article by
Gold Forecaster
All articles by
Gold Forecaster
Next article by
Gold Forecaster
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
Most recent articles by Gold Forecaster
1/16/2013
1/14/2013
1/7/2013
12/20/2012
12/18/2012
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