news.goldseek.com / Julian D.W. Phillips / 30 September 2016
Gold Today –New York closed at $1,321.40 yesterday after the previous close of $1,322.90. London opened at $1,325.
– The $: € was stronger at $1.1173: €1 from $1.1223: €1 yesterday.
– The Dollar index was stronger at 95.82 from 95.45 yesterday.
– The Yen was stronger at 101.21: $1 up from 101.56: $1 yesterday against the dollar.
– The Yuan was stronger at 6.6720: $1 from 6.6734: $1 yesterday.
– The Pound Sterling was weaker at $1.2956: £1 from yesterday’s $1.3024: £1.
Yuan Gold Fix
Look at the difference between New York’s close and Shanghai’s p.m. fix! With the Yuan becoming one of the currencies in the SDR tomorrow we are closely watching to see if there is any change in a range of Chinese activities.
Many feel that the Yuan has done little internationally so far, so why should it change now? We feel, as you know, that China has been holding back until this moment came. From now on we will see the action in the currency, etc. going forward.
Shanghai kept gold prices at the day before’s level ignoring New York. What next?
LBMA price setting: The LBMA gold price setting was at $1,327.90against yesterday’s $1,320.85.
The gold price in the euro was set at €1,188.49 against yesterday’s €1,177.39.
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