Gold and Silver Market Morning: July-12-2016 – Gold and silver prices waiting for the Bank of England!

Jon Banking, Gold, Market Commentary, Precious Metals, Silver

Gold Today -Gold closed in New York at $1,354.60 on Monday after Friday’s close at $1,367.20. In Asia the gold price also fell further as you can see below
– The $: fell to $1.1100 down from $1.1048.
– The dollar index fell to 96.12 from 96.60 Monday.
– The Yen was weaker at 103.44 from Monday’s 102.48 against the dollar.
– The Yuan was slightly weaker at 6.6859 from 6.6902 Monday.
– The Pound Sterling was stronger at $1.3158 up from Monday’s $1.2942 but with more falls expected this Thursday as the B. of E. adds further easing of interest rates! Or has this been discounted already?
Yuan Gold Fix
The Chinese gold market is pulling back with New York and London ahead of the Bank of England’s Thursday’s announcement.
LBMA price setting: $1,352.85 down from Monday 11th July’s$1,358.25.
The gold price in the euro was set at 1,218.78 down 10.63 from Monday’s1,229.41.

This post was published at GoldSeek on 12 July 2016.