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Gold and Silver Market Morning: Nov-11-2016 — Gold – more volatility to come. Silver – stable!

Friday, November 11, 2016 12:31
% of readers think this story is Fact. Add your two cents. / Julian D.W. Phillips / 11 November 2016

Gold Today –New York closed at $1,256.80 yesterday after the previous close of $1,274.50 London opened at $1,262.00.

–         The $: € was a tad stronger at $1.0909: €1 from $1.0940: €1 yesterday.

–         The Dollar index was a little stronger at 98.64 from 96.45 yesterday.

–         The Yen was weaker at 106.51: $1 from yesterday’s 105.40 against the dollar.

–         The Yuan was weaker at 6.8141: $1 from 6.8112: $1 yesterday.

–         The Pound Sterling was stronger at $1.2577: £1 from yesterday’s $1.2408: £1.

Yuan Gold Fix

As you can see Shanghai did not follow New York down to the $1,250’s area, but held nearly $40 higher in their morning Fix. But when the news of the sales from the SPDR gold ETF came out the price tumbled there too.

In markets as volatile, both ways, as we are seeing now, no conclusions can be drawn, yet.

LBMA price setting:  The LBMA gold price setting was at $1,255.65against yesterday’s $1,280.90. The gold price in the euro was set higher at €1,154.73 against yesterday’s €1,175.14.

Ahead of the opening of New York the gold price was trading at $1,258.00 and in the euro at €1,156.89.  At the same time, the silver price was trading at $18.60.

Silver Today –Silver rose to $18.52 at New York’s close yesterday from $18.40, the day before. 


The post Gold and Silver Market Morning: Nov-11-2016 — Gold – more volatility to come. Silver – stable! appeared first on Silver For The People.


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