news.goldseek.com / Julian D.W. Phillips / 8 November 2016
Gold Today –New York closed at $1,281.50 yesterday after the previous close of $1,304.20 London opened at $1,284.00.
– The $: € was stronger at $1.1043: €1 from $1.1073: €1 yesterday.
– The Dollar index was slightly stronger at 97.76 from 97.54 yesterday.
– The Yen was unchanged at 104.45: $1 from yesterday’s 104.46 against the dollar.
– The Yuan was weaker at 6.7785: $1 from 6.7745: $1 yesterday.
– The Pound Sterling was weaker at $1.2390: £1 from yesterday’s $1.2446 £1.
Yuan Gold Fix
Shanghai closed in line with other world gold markets today. No p.m. Fixing was given. The Yuan continues to weaken and will continue doing so. Ironically, its fall is being tempered by the People’s Bank of China which is selling dollars to ensure the fall is not ‘brutal’ and stem accusations of manipulation.
LBMA price setting: The LBMA gold price setting was at $1,284.00against yesterday’s $1,286.80. The gold price in the euro was set higher at €1,162.41 against yesterday’s €1,162.95.
Ahead of the opening of New York the gold price was trading at $1,284.20 and in the euro at €1,162.49. At the same time, the silver price was trading at $18.34.
Silver Today –The silver price fell to $18.22 at New York’s close yesterday from $18.39, Thursday.
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