Gold Today -The New York gold price closed Monday at $1,093.50 up from $1,078.50. In Asia it moved up to $1,099.35 but in London it held back slightly where the LBMA price was set at $1,096.00 up from $1,083.85 with the dollar index lower at 98.72 down from 99.42 yesterday. The euro was at $1.0863 up from $1.0741 against the dollar. The gold price in the euro was set at 1,010.23 up from 1,009.03 as the euro recovered. Ahead of New York’s opening, the gold price was trading at $1,102.45 and in the euro at 1,014.07.
Silver Today -The silver price in New York closed at $14.02 up 3 cents. Ahead of New York’s opening the silver price stood at $14.06.
Gold (very short-term) The gold price will be stronger in New York today.
Silver (very short-term) The silver price will be stronger in New York today.
Price Drivers
The gold price has confirmed its breakout solidly and has broken through the next overhead resistance at $1,100. The dollar was turned back for the 100 level on the dollar index and is now trading lower against the euro as we forecast. The gold price is moving independently of any currency moves on the part of the dollar and the euro and is rising in all the world’s currencies.
This post was published at GoldSeek on 7 January 2016.
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