news.goldseek.com / Julian D.W. Phillips / 3 November 2016
Gold Today –New York closed at $1,296.40 yesterday after the previous close of $1,287.30 London opened at $1,294.30.
– The $: € was weaker at $1.1100: €1 from $1.1065: €1 yesterday.
– The Dollar index was weaker at 97.24 from 97.69 yesterday.
– The Yen was stronger at 102.90: $1 from yesterday’s 103.91 against the dollar.
– The Yuan was stronger at 6.7626: $1 from 6.7650: $1 yesterday.
– The Pound Sterling was stronger at $1.2334: £1 from yesterday’s $1.2242 £1.
Yuan Gold Fix
Once again we see Shanghai leading the way higher, even accounting for the higher quality gold it prices. The falling dollar [and stronger Yuan] came into play on prices there. We do not see the U.S. elections affecting gold prices in Shanghai, but the Fed’s stance will.
LBMA price setting: The LBMA gold price setting was at $1,293.00against yesterday’s $1,295.85. The gold price in the euro was set higher at €1,166.76 against yesterday’s €1,165.41.
Ahead of the opening of New York the gold price was trading at $1,287.45 and in the euro at €1,162.69. At the same time, the silver price was trading at $18.06.
Silver Today –The silver price rose to $18.50 at New York’s close yesterday from $18.33, Tuesday.
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