Gold Today -New York closed at $1,070.60 down from $1075.40. In Asia prices were lifted to $1,172. 45 as the dollar slipped slightly, still below 100 on the dollar index. The LBMA price setting fixed it at $1,072.50 up 30 cents on yesterday’s LBMA price setting. The dollar Index did not make it through the 100 level and now stands at 99.82 down from 99.96 yesterday. The dollar is at $1.0615 down from $1.0593 against the euro. In the euro the fixing was 1,008.81 down from yesterday’s 1,012.23. At London’s afternoon gold was trading in the dollar at $1,073.00 and in the euro at 1,010.74.
Silver Today – The silver price closed at $14.19 up 2 cents on yesterday. New York will be closed for Thanksgiving today. However, as we wrote the silver price stood at $14.38.
Gold (very short-term) The gold price will pause as New York remains closed today.
Silver (very short-term) The silver price will pause as New York remains closed today.
Price Drivers With New York closed we will see the importance of London’s pricing power on the gold price. With this morning showing Asia, yet again, lifting the gold price a few dollars, it is clear that New York dominates the gold price.
This post was published at GoldSeek on 26 November 2015.
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