Silver as an investment

Gold Market Morning: July-28-2017 — heavy U.S. gold ETF sales turn to heavy buying!

news.goldseek.com / 28 July 2017

Gold Today –New York closed yesterday at $1,260.00. London opened at $1,260.00 today. 

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

–         The $: € was stronger at $1.1709 after the yesterday’s $1.1728: €1.

–         The Dollar index was stronger at 93.71 after yesterday’s 93.50.

–         The Yen was almost unchanged at 111.23 after yesterday’s 111.25:$1.

–         The Yuan was weaker at 6.7415 after yesterday’s 6.7377: $1.

–         The Pound Sterling was weaker at $1.3090 after yesterday’s $1.3138: £1.

Yuan Gold Fix

We cannot establish the price at which Shanghai was trading today. New York $3 lower than Shanghai yesterday, with London closing at a level that is closer to Shanghai’s price than we have seen until yesterday, when it opened at just $2.50 below Shanghai’s trading level yesterday. Shanghai continues to lead the way higher and to import as much gold as it can to meet Chinese demand.

Silver Today –Silver closed at $16.57 yesterday after $16.45 at New York’s close Tuesday.

LBMA price setting:  The LBMA gold price was set today at $1,259.60 from yesterday’s $1,262.05.  The gold price in the euro was set at €1,075.20 after yesterday’s €1.077.11.

Just after the opening of New York the gold price was trading at $1,263.25 and in the euro at €1,075.41. At the same time, the silver price was trading at $16.73. 

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