Gold and Silver Market Morning: Jan 31 2017 – Gold and Silver move over $1,200 without Shanghai!

Jon Gold, Market Commentary, Precious Metals, Silver

Gold Today – New York closed at $1,190.90 on the 30th January after closing at $1,190.90 on the 27th January. London openedat $1,1201.00 today.
Overall the dollar was weaker against global currencies early today. Before London’s opening:
– The $: was weaker at $1.0711: 1 from $1.0696: 1 yesterday.
– The Dollar index was weaker at 100.34 from 100.55 yesterday.
– The Yen was slightly stronger at 113.66:$1 from yesterday’s 114.86 against the dollar.
– The Yuan was unchanged at 6.8772: $1, from 6.8772: $1, yesterday.
– The Pound Sterling was weaker at $1.2502: 1 from yesterday’s $1.2545: 1.
Yuan Gold Fix
Shanghai is closed today until Friday for the Lunar New Year celebrations.
LBMA price setting: The LBMA gold price was set today at$1,198.80 up from yesterday’s $1,189.85.
The gold price in the euro was set lower at 1,119.85 after yesterday’s1,115.34.
Ahead of the opening of New York the gold price was trading at $1,197.75 and in the euro at 1,118.71. At the same time, the silver price was trading at $17.18.
Silver Today – Silver closed at $17.15 at New York’s close yesterday against $17.12 on the 27th January.

This post was published at GoldSeek on 31 January 2017.