Silver as an investment

Gold and Silver Market Morning: Sep-21-2016 –Gold and silver waiting for the Fed!

news.goldseek.com / Julian D.W. Phillips/ 21 September 2016

Gold Today –New York closed at $1,314.60 after the previous close of $1,313.60 yesterday.  London opened at $1,319 again.

–         The $: € was weaker at $1.1147: €1 from $1.1187: €1 yesterday.

–         The Dollar index was slightly stronger at 95.96 from 95.82 yesterday.

–         The Yen was slightly stronger at 101.50: $1 up from 101.76: $1 yesterday against the dollar.

–         The Yuan was slightly weaker at 6.6726: $1 from 6.6700: $1 yesterday.

–         The Pound Sterling was slightly stronger at $1.2998: £1 from yesterday’s $1.2989:£1.

Yuan Gold Fix

Shanghai ignored New York’s close and took the gold price higher by $10, no doubt reflecting the demand local investors demonstrated for physical gold.

Most importantly this is the first time of late, that substantial sales from the gold ETFs have not pulled gold prices down, but have been ignored to the extent that gold prices have risen.

LBMA price setting:  The LBMA gold price setting was at $1,319.60 against yesterday’s $1,315.40.

The gold price in the euro was set at €1,183.55 against yesterday’s €1,175.83.

Ahead of the opening of New York the gold price was trading at $1,324.60 and in the euro at €1,188.41.  At the same time, the silver price was trading again at $19.60.

 Silver Today –The silver price rose to $19.23 at New York’s close yesterday up from$19.16, Friday. 

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