Gold and Silver Market Morning: May 09 2017 – Gold consolidating ahead of a strong move!

Gold Today – New York closed at $1,227.20 yesterday after closing at$1,229.30 Friday. London opened at $1,224.75 today.
Overall the dollar was stronger against global currencies, early today. Before London’s opening:
– The $: was stronger at $1.0904 after yesterday’s $1.0973: 1.
– The Dollar index was stronger at 99.34 after Friday’s 98.73.
– The Yen was weaker at 113.74 after Friday’s 112.68:$1.
– The Yuan was weaker at 6.9064 after Friday’s 6.9035: $1.
– The Pound Sterling was weaker at $1.2926 after Friday’s $1.2975: 1.
Yuan Gold Fix
The Shanghai Gold Exchange was trading at 275.40 towards the close today. This translates into $1,235.28. New York closed at a $8.08discount to Shanghai’s close yesterday. London opened at a discount of$10.53 to Shanghai’s close today.
LBMA price setting: The LBMA gold price was set today at$1,225.15 from yesterday’s $1,229.70.

This post was published at GoldSeek on 9 May 2017.