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 28, 2012

IMG Auteur
 
Published : November 28th, 2012
487 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 $1,741.30 down $7.10. This morning, Asian and London dealers took the price down slightly alongside a declining euro ahead of London’s opening. It was Fixed at $1,741.00 down $6.25 on yesterday morning’s Fix. In the euro it was Fixed at €1,347.002 down €2.5, while the euro was slightly weaker at €1: $1.2925. Ahead of New York’s opening, gold was weaker at $1,738.75 and in the euro at €1,347.55.


Silver Today – New York closed at $34.00 down 8 cents. It then traded at $33.90 in London’s day before trading at $33.87, ahead of New York’s opening.


Gold (very short-term)



Gold is expected to consolidate, moved by the euro, with a weaker bias, in New York today.


Silver (very short-term)


Silver is expected to consolidate, moved by the euro, with a weaker bias, in New York today.


Price Drivers


Gold & Silver – The gold and silver prices are again locked in consolidation mode. Just as we thought it was going to break through resistance it slips back. Just as we see it slipping back as though the rally is fading, it turns around to attack resistance again. Last week we saw a clear upward direction given, but this week the strength, at this moment in time, appears insufficient to break resistance. But this could change in a heartbeat.


The technical picture is again pointing to some significant moves in the longer term patterns, which are moving to join the short-term patterns. Rather like a change of tide in the sea, the picture is complicating itself. Now is the time to keep closely in touch with market moves because of this changing pattern, as it will directly affect your investments suddenly. A sudden strong move will not give you time to correct any mistakes as it will be a long-term move not simply the usual trading ‘to and fro’ moves.


The gold price leads the silver price. The gold price is moved, long-term, by significant Asian demand as well as central bank demand. But its value is not simply a factor of demand and supply. The value of the currencies in which it is priced are themselves variables, distorting the purity of the demand and supply factors. It is these variables that can and do affect monetary [‘safe-haven’] demand. This makes for a complicated world of gold, but one that is gaining in significance. We have written many articles that focus on these complications, which we believe will have a growing significance in 2013 onwards. That’s why we see the gold market as the most fascinating of worlds. [Subscribe to our newsletters at www.GoldForecaster.comand www.SilverForecaster.com]


Silver – The silver price is marking time waiting for gold to show the way forward.


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 : 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
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Sandstorm Gold(Cu-Mo-Au)SSL.V
Files Early Warning Report
CA$ 3.01-6.52%Trend Power :
Corporate news
Crown PointCWV.V
Provides Operational Update and Announces Executive Change
CA$ 0.13+4.00%Trend Power :
Corporate news
Cardero Res.(Ag-Au-Cu)CDU.TO
Announces Acquisition of the Advanced Zonia Copper Oxide Project in Arizona
CA$ 0.02+33.33%Trend Power :
Corporate news
Vista Gold(Cu-Le-Zn)VGZ.TO
. Announces Receipt of an Additional A$5.9 Million Net Tax Refund Under the Australian Govern
CA$ 0.36+4.35%Trend Power :
Corporate news
First Majestic(Le-Zn-Au)FR.TO
announces friendly acquisition of Silvercrest Mines
CA$ 4.02-14.10%Trend Power :
Corporate news
Sterling Res.(Oil)SLG.V
Announces Appointment of Strategic Financial Adviser
CA$ 0.16+0.00%Trend Power :
Nominations
Polaris MineralsPLS.TO
Materials announces the opening of its aggregate terminal in the Port of Long Beach, Californ
CA$ 2.17-1.36%Trend Power :
Corporate news
Endeavour Financial(Ag-Au-Co)EDV.TO
Mining to release Q2 results on July 30, 2015
CA$ 0.47-4.08%Trend Power :
Corporate news
Premier Gold Mines(Au)PG.TO
confirms current Reserves & Resources at South Arturo
CA$ 1.87+3.31%Trend Power :
Corporate news
Guyana(Ag-Cu-Ni)GPM.V
GPM Metals Inc. provides an update of The Walker Gossan Project, Northern Territory, Australi
CA$ 0.16+0.00%Trend Power :
Corporate news
Comments closed