Chart usGOLD   Chart usSILVER  
 
Food for thought
That government is best which governs the least, because its people discipline themselves.
Thomas Jefferson  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1215.361.76
Silver 17.210.06
Platinum 1280.000.75
Palladium 780.754.25
WORLD MARKETS
DOWJONES 16805-236
NASDAQ 4422-71
NIKKEI 16082-91
ASX 533538
CAC 40 4365-51
DAX 9382-92
HUI 1961
XAU 810
CURRENCIES (€)
AUS $ 1.4436
CAN $ 1.4077
US $ 1.2623
GBP (£) 0.7797
Sw Fr 1.2068
YEN 137.6200
CURRENCIES ($)
AUS $ 1.1437
CAN $ 1.1150
Euro 0.7922
GBP (£) 0.6177
Sw Fr 0.9560
YEN 109.0130
RATIOS & INDEXES
Gold / Silver70.62
Gold / Oil13.63
Dowjones / Gold13.83
COMMODITIES
Copper 3.04-0.02
WTI Oil 89.160.05
Nat. Gas 4.030.01
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, November 06, 2012
Published : November 06th, 2012
409 words - Reading time : 1 - 1 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet

 

 

 

 

Gold Today –New York closed at $1,684.10 down nearly $37.00. This morning, Asia and London dealers lifted it back over $1,690 before it rose to Fix at $1,691.75 and in the euro at €1,321.576 while the euro was much lower at €1: $1.228.04. Ahead of New York’s opening gold stood at $1,693.25 and in the euro at €1,322.44.

 

Silver Today – Silver closed higher at $31.15 down $1.10 in New York yesterday. It then rose to $31.42 in London, just ahead of New York’s opening.

 

Gold (very short-term)

 

Gold will consolidate with a weaker bias, in New York today.

 

Silver (very short-term)

 

Silver will consolidate with a weaker bias, in New York today.

 

Price Drivers

 

Gold & Silver – Greece has reached the end of its economic tether. The country is in deep recession, capital fled the country some time ago and there are no prospects for an economic revival, while its national debts continue to grow. It needs another bailout just to survive. There is little prospect of Greece being able to repay any new debt in the future. The result for gold and silver has been that the euro tumbled 2% from its high taking them with it down against the U.S. dollar. In the euro the fall was modest.

 

We expect the euro to remain both volatile and sensitive to day-to-day news from Greece. In the end the Eurozone may well see ant new debt to Greece quickly become toxic and potentially drag down the euro still further. The Eurozone debt crisis is here to stay. What is currently dangerous is that Greece needs to have more bailout funds by 12th November. The potential for a financial accident in making the payout is very high. The markets will easily be spooked by any missteps that may happen.

 

Only the change of focus from the Presidential elections to the political gridlock in the U.S. can soften the impact of more drama in Europe. The most important change in the debt crises on both sides of the Atlantic is that the situation is moving to an irreversible status. [To follow our weekly commentary, please subscribe to our newsletters at www.GoldForecaster.com and www.SilverForecaster.com]

 

Silver – Silver is proving far more volatile than gold. Volatility may worsen both ways!

 

Regards,

 

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

 

Global Gold Price (1 ounce)

Today

3 days ago

Franc

Sf1,603.74

Sf1,596.84

US

$1,723.25

$1,719.25

EU

1,328.69

€1,322.25

India

Rs.92,542.83

Rs.92,607.40


 

 

Data and Statistics for these countries : Greece | India | All
Gold and Silver Prices for these countries : Greece | 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
MOST READ
TOP RATED
MOST COMMENTED
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