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, November 20, 2012

IMG Auteur
 
Published : November 20th, 2012
514 words - Reading time : 1 - 2 minutes
( 2 votes, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire

 

 

 

 

Gold Today –New York closed at $1,732.10 up $21.6 on yesterday. This morning, Asia and London dealers took higher to trade at $1,723.45 ahead of London’s opening. It was Fixed at $1,734.00 up $10.75 on yesterday morning’s Fix. In the euro it was Fixed at €1,354.053 up €4.5 from yesterday while the euro was at €1: $1.2806. Ahead of New York’s opening, gold was almost the same at $1,733.79 and in the euro at €1,353.73.


Silver Today – Silver continued to show its power yesterday and rose to $33.12 up nearly 90 cents on yesterday, in New York. It then traded at $33.10 until, ahead of New York’s opening it stood at $33.18.


Gold (very short-term)



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


Silver (very short-term)


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


Price Drivers


Gold & Silver – Greece is now at the point where it really can’t leave the Eurozone. It has past the point where it was able to leave the Eurozone and rebuild itself. Now it can only be thrown out by it. Lenders are now discussing the way forward with the I.M.F. saying it must be left with hope of a recovery and the E.U. acting like jaundiced creditor aware that they may have to write off more amounts in the future. It is now a case of, will it benefit the E.U. to keep Greece as a member or not. To really get the shape of the Eurozone now one has to look at the overall picture of the zone that is now in a recession that is likely to get worse in 2013. In the past few days we have implied that the recession is defeating the ‘accountants’ attempts to contain the crisis as debt to G.D.P. ratios rise. Unless the E.U. adjusts to this moving situation the crisis will look worse and worse. Today a second ratings agency downgraded France and this time by itself and not part of a general E.U. wide downgrade. This emphasizes our point that moving or decaying situations cannot be resolved by fixed schedules of adjustment, the schedules have to be moving as well. Consequently, more and more commentators are taking a dimmer and dimming view of the future of the E.U. [We look at these in the next issue of our weekly commentary, [please subscribe] in our newsletters at www.GoldForecaster.comand www.SilverForecaster.com]


Meanwhile U.S. gold market are still fixated on the gold actions of George Soros and John Paulson two leading U.S. investors, who have lifted their investments in the gold SPDR E.T.F. recently. The U.S. based gold E.T.F. is receiving renewed support from U.S. investors reacting to the future prospects of Quantitative Easing and the future of the U.S. dollar’s buying power.


Silver – Silver is more than robust, it is vigorous as it leapt through $33.


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


 

 

Companies Mentionned : Robust |
Data and Statistics for these countries : France | Greece | India | All
Gold and Silver Prices for these countries : France | Greece | India | All
<< Previous article
Rate : Average :5 (2 votes)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Panicked Hedge Funds Now Praying...
30 Junovertheedge
"... and the silly game theory ..." Obviously you have no knowledge of game theory and its applications. Otherwise you wouldn't have used ...
The Gold Standard: Generator & P...
30 Junuser4779
Is it really so bad for Americans that they do not spend their lives labouring on a production line to make mass-produced goods, and have left this...
The Gold Standard: Generator & P...
30 Junsam_site
You state, “To continue selling to the West, China will have to open wide its doors to imports” Here’s the crux of your argument of why Chin...
The euro crisis
30 Junovertheedge1
"There is no immediate benefit from debating why." Debate? That would be like debating whether or not gravity exists. You stated the obvio...
The Ultimate Confirmation
29 Junovertheedge
It would appear that we share the same conclusion. A few sealed cans of kerosene might be handy as well. Thumbs up sir.
The Ultimate Confirmation
29 JunS W.1
My main sentiment here is why swap dollars for gold or silver only to sell at some later date for more dollars when that same paper is continually ...
The Ultimate Confirmation
28 Junovertheedge1
Well, gotta admit that there is a problem if a person tries to play silver as both an investment and as an insurance policy. I would suggest th...
The Ultimate Confirmation
27 JunS W.
Fair call, overtheedge. I've given Butler short shrift several times. Fancy spending 30 yrs analysing the silver market likely believing Ag...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
AlstomALO.PA
Alstom’s Citadis Dualis enters service on the Nantes-Clisson line
€UR 25.65+0.79%Trend Power :
Corporate news
AlstomALO.PA
Alstom signs a turnkey contract with Eletrosul to integrate wind farms in southern Brazil
€UR 25.65+0.79%Trend Power :
Corporate news
Kibo Mining PlcKIBO.L
Results of Annual General Meeting
GBX 4.10+2.50%Trend Power :
Corporate news
Vedanta Res.(Au-Cu-Le)VED.L
Vedanta hosts first Sustainable Development Day
GBX 505.50-2.79%Trend Power :
Corporate news
Kibo Mining PlcKIBO.L
Shareholder Operational Update: Second Quarter 2015
GBX 4.10+2.50%Trend Power :
Corporate news
AlstomALO.PA
Alstom to supply 13 Coradia Lint regional trains to Nordjyske Jernbane
€UR 25.65+0.79%Trend Power :
Corporate news
AlstomALO.PA
Alstom partners with Penn State to establish Microgrid Center of Excellence at The Navy Yard in Philadelphia
€UR 25.65+0.79%Trend Power :
Corporate news
AlstomALO.PA
Smart Cities Council and Alstom hosted session at Innovative City to accelerate the adoption of Smart Grid and Smart City Initiatives worldwide
€UR 25.65+0.79%Trend Power :
Corporate news
AlstomALO.PA
Stafford-based Alstom apprentice welder scoops top award for Midlands region
€UR 25.65+0.79%Trend Power :
Corporate news
AlstomALO.PA
Alstom’s Smart Solutions for distribution grids at CIRED 2015
€UR 25.65+0.79%Trend Power :
Corporate news
Comments closed