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 and Silver Market morning, December 18, 2012

IMG Auteur
 
Published : December 18th, 2012
423 words - Reading time : 1 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire

 

 

 

 

Gold Today –New York closed at $1,698.00 up nearly $4. Asian and London dealers moved gold up again, in line with the euro. Gold Fixed at $1,699.50 up $9 on yesterday’s fixing. In the euro it was Fixed at €1,289.258 up €4 while the euro was slightly stronger at €1: $1.3182. Ahead of New York’s opening, gold was $1,699.00 and in the euro at €1,288.02.


Silver Today – Silver closed higher at $32.21, slightly higher in New York yesterday. It opened in London higher at $32.48. Ahead of New York’s opening silver stood at $32.43.


Gold (very short-term)



Gold is expected to continue to consolidate with a stronger bias, in New York today.


Silver (very short-term)


Silver is expected to continue to consolidate with a stronger bias, in New York today.


Price Drivers


Gold & Silver – Small steps toward an agreement are supposed to being made in Washington, but we prefer to act on a deal, not the expectation of one. There was a rise in emerging world demand yesterday, but not sufficient to drive prices much higher.


Once again, the Technical picture of gold is just about at a point from which it is about to experience a strong move one way or the other. Will a U.S. settlement of the Republican/Democrat battle on the brink of the ‘fiscal cliff’ do it? Will a failure to reach a settlement set it off? We expect speculators to try to engineer this coming strong move to create profitable opportunities for themselves.


But the fundamentals for gold remain strong as Asian demand, unaffected by U.S. politics remains solid.


We believe that central bank demand remains solid too, but unobtrusive, unwilling to push prices higher. That accounts for the variability of month-to-month demand from those sources.


The long-term Technical picture points to a strong rise in gold and silver prices, as it has for some time now, as expectations of the next leg of the bull market for gold and silver remain solid. When this happens, it must be said that the short-term influences cannot overwhelm long-term ones as fundamental demand will subjugate the short-term scene just as the turning of the tide always dominates wave patterns.


The problem for investors remains, “will it happen soon or not? Are any falls below $1,700 buying opportunities or not?”[Subscribe to our newsletters at www.GoldForecaster.com and www.SilverForecaster.com].


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
<< Previous article
Rate : Average :0 (0 vote)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Iran Agreement Boosts Peace, Def...
29 JulArtboard
A US Naval vessel shot down an Iranian Passenger Jet with 300 passengers, over the Persian Gulf on the 3rd July 1988, they mistook it for a Fighter...
Will Uncle Sam Confiscate Gold A...
31 Julovertheedge
"... , generally larger amounts would be safer stored in the safest vaults in the world and in the safest jurisdictions in the world." An...
Gold market liquidity and manipu...
29 JulPD
Bron, I was wondering if the planned Allocated Bullion Exchange (ABX) would have any impact on the liquidity of the Gold market. Would it not at le...
Is the gold price manipulated?
29 Juldanzas123
This article is a joke. Please stop writing baseless garbage. There is enough real evidence of the things you're still calling conspiracy. GATA hav...
Is the gold price manipulated?
28 Julkeith951
... if one takes the dumping of an usually high tonnage of gold at an illiquid time in the gold market aka the Monday one week ago - then such 'b...
Gold Reserves and GDP: China is ...
30 JulWilliam Tan
Shakespeare was right; "The world is a stage." Unfortunately we have all the bad actors acting at once.
Iran Agreement Boosts Peace, Def...
28 Julsonora69
You have a point. The 2003 Iraq invasion is mostly now considered an ill-advised and unjustified destabilization, with regional & political consequ...
Why we should abandon the State
28 Julovertheedge
What a gigantic pile of horse excrement. Cherry pick everything that has gone wrong. Completely discount the hard fact that the author and ...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Vena Res.(Ag-Au-Cu)VEM.TO
Provides Update With Regards to the Arbitration Concerning the Azulcocha West Project and Enf
CA$ 0.04-35.71%Trend Power :
Exploration and drilling
Rockwell(Cu-Gems-Ni)RDI.TO
Announces Delay in Annual Meeting and Meeting Date
CA$ 0.20-2.44%Trend Power :
Corporate news
Eldorado Gold(Au-Fe)ELD.TO
Reports 2015 Second Quarter Financial and Operational Results
CA$ 4.50+11.39%Trend Power :
Financials
Endeavour Financial(Ag-Au-Co)EDV.TO
Mining Q2 2015 AISC/oz of $898, Profit of $33M And $20M Debt Payment in July
CA$ 0.51+8.51%Trend Power :
Corporate news
Mawson Res.(Au-Ur)MAW.TO
Restarts Drilling at the Palokas Gold Prospect in Finland
CA$ 0.17+6.25%Trend Power :
Corporate news
Goldcorp(Cu-Le-Zn)G.TO
Achieves Record Quarterly Gold Production; Updates 2015 Cost Guidance
CA$ 17.45+6.01%Trend Power :
Production
Claude Resources(Au-Cu-Ngas)CRJ.TO
Provides Date for Q2 Results and Conference Call
CA$ 0.65+3.17%Trend Power :
Corporate news
Richmond Min.(Ur-Au-Gems)RMD.V
- Exploration Update
CA$ 0.09+0.00%Trend Power :
Corporate news
Arianne Phosphate(Ur-Mo-Ti)DAN.V
Extends the Term of Warrants
CA$ 0.88+2.33%Trend Power :
Financings
Anaconda Min.(Au)ANX.TO
Reports 12.83 g/t Gold Over 4.38 Metres and 8.55 g/t Gold Over 4.97 Metres from Channel Sampl
CA$ 0.05+25.00%Trend Power :
Corporate news
Comments closed