Silver as an investment

Gold and Silver Market Morning: July 6 2017 – Gold and silver still stabilizing, where next is critical!

news.goldseek.com / 6 July 2017 / Julian D.W. Phillips 

Gold Today –New York closed yesterday at $1,225.30. London opened at $1,224.00 today. 

Overall the dollar was slightly weaker against global currencies, early today. Before London’s opening:

–         The $: € was almost unchanged at $1.1353 after yesterday’s $1.1356: €1.

–         The Dollar index was slightly weaker at 96.22 after yesterday’s 96.25.

–         The Yen was stronger at 113.33 after yesterday’s 113.51:$1.

–         The Yuan was weaker at 6.8037 after yesterday’s 6.7988: $1.

–         The Pound Sterling was stronger at $1.2935 after yesterday’s $1.2908: £1.

Yuan Gold Fix

Gold Today –New York closed yesterday at $1,225.30. London opened at $1,224.00 today.  Overall the dollar was slightly weaker against global currencies, early today. Before London’s opening:    –         The $: € was almost unchanged at $1.1353 after yesterday’s $1.1356: €1. –         The Dollar index was slightly weaker at 96.22 after yesterday’s 96.25.  –         The Yen was stronger at 113.33 after yesterday’s 113.51:$1.  –         The Yuan was weaker at 6.8037 after yesterday’s 6.7988: $1.  –         The Pound Sterling was stronger at $1.2935 after yesterday’s $1.2908: £1.

Shanghai is steady at higher levels than on Tuesday. New York traded at $5 lower than Shanghai following Shanghai’s close yesterday. Today London opened $9 lower than Shanghai. Today remains a critical day for the gold price in all three global centers as the direction forward is still to be established.

The gold price can go either way right now.

Silver Today –Silver closed at $16.03 yesterday after $16.08 at New York’s close Wednesday. The silver price has formed a double bottom, if the silver price moves higher next.

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