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Gold and Silver Market Morning: Feb 27 2017 – Gold turning $1,250 resistance into support!

Monday, February 27, 2017 14:49
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(Before It's News)

news.goldseek.com / Julian D.W. Phillips  / 27 February 2017 

Gold Today –New York closed at $1,256.70 on the 24th Februaryafter closing at $1,248.80 on the 23rd February. London openedat $1,255.00 today.

Overall the dollar was slightly stronger against global currencies early today. Before London’s opening:

–         The $: € was slightly stronger at $1.0586: €1 from $1.0589: €1 onFriday.

–         The Dollar index was slightly stronger at 101.06 from 100.95 onFriday.

–         The Yen was slightly stronger at 112.30:$1 from Friday’s 112.85 against the dollar.

–         The Yuan was weaker at 6.8800: $1, from 6.8717: $1, Friday.

–         The Pound Sterling was weaker at $1.2412: £1 from Friday’s $1.2553: £1.

Yuan Gold Fix

At the close in Shanghai today, the gold price was trading at 280.0Yuan, which directly translates into $1,265.84. But allowing for the difference of gold being traded this equates to a price of $1,260.84. This is $4 higher than the New York close and $6 higher than London.

Shanghai opens the week pulling both London and New York higher again but with the two centers following close behind.

READ MORE

The post Gold and Silver Market Morning: Feb 27 2017 – Gold turning $1,250 resistance into support! appeared first on Silver For The People.



Source: http://silveristhenew.com/2017/02/27/gold-and-silver-market-morning-feb-27-2017-gold-turning-1250-resistance-into-support/

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