Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Roughly 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 16 2018
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - March 16, 2018

“Bankruptcy 1995” Revisited
By: James Turk

The egregious errors of static statistics
By: Alasdair Macleod

Gold Miners’ Q4’17 Fundamentals
By: Adam Hamilton, CPA

The Race to Repatriate Gold Reserves Accelerates
By: Nathan McDonald

Is the Economic Summer Coming?
By: Arkadiusz Sieron

Triggers And March Trigger Impending
By: Deepcaster

GoldSeek Radio Nugget: Gerald Celente and Chris Waltzek


GoldSeek Web

Gold and Silver Market Morning: Jan 12 2017 - The dollar is lower against gold and gold higher against all currencies!

 -- Published: Thursday, 12 January 2017 | Print  | Disqus 

Gold Today New York closed at $1,190.90 on the 11th January after closing at $1,187.20 on the 10th January. London opened again at $1,204.75 today.


Overall the dollar is weaker against global currencies today. Before London’s opening:

 -         The $: € was weaker at $1.0631:1 from $1.0554: €1 yesterday.

-         The Dollar index was weaker at 101.25 from 102.09 yesterday

-         The Yen was stronger at 114.52: $1 from yesterday’s 116.05 against the dollar. 

-         The Yuan was stronger at 6.9115: $1, from 6.9225: $1, yesterday

-         The Pound Sterling was stronger at $1.2249: £1 from yesterday’s $1.2156: £1.


Yuan Gold Fix

Trade Date


Benchmark Price AM 1 gm

Benchmark Price PM 1 gm

      2017    1    12

      2016    1    11

      2016  12    10










$ equivalent 1oz @  $1: 6.9115

      $1: 6.9225

$1: 6.9244








Please note that the Shanghai Fixes are for 1 gm of gold. From the Middle Eat eastward metric measurements are used against 0.9999 quality gold. [Please note that the 0.5% difference in price can be accounted for by the higher quality of Shanghai’s gold on which their gold price is based over London’s ‘good delivery’ standard of 0.995.]


Shanghai continues to lead the way for the gold price. And as happened yesterday London and New York rose too. With Shanghai prices continuing to rise we expect London and New York to rise  again too. To catch Shanghai up, prices in New York need to rise another $15. London is now in line with yesterday’s Shanghai gold price.


LBMA price setting:  The LBMA gold price setting was at $1,206.65 this morning against yesterday’s $1,187.55. 


The gold price in the euro was set higher at €1,133.96 after yesterday’s €1,128.31 as the dollar weakened.


Ahead of the opening of New York the gold price was trading at $1,204.20 and in the euro at €1,131.55.  At the same time, the silver price was trading at $16.89. 


Silver Today –Silver closed at $16.73 at New York’s close yesterday from $16.79 on the 10th January. 


Gold (very short-term) The gold price will have a positive bias, in New York today.      


Silver (very short-term) The silver price will have a positive bias, in New York today.


Price Drivers

The dollar is weaker today with the media attributing that to Trump’s failure to describe his financial policies.  What appears to be happening is that the honeymoon with the Trump Presidency is over, before it began. But, as we described yesterday, such temporary news in the U.S. did not cause the buyers of gold to rush out and buy in the U.S. Most of the buying occurred in China yesterday, with no movement whatsoever in the U.S. based gold ETFs.


The rise in the gold price in dollars was in fact the fall of the dollar reflected in a higher dollar gold price together with Chinese demand as reflected in the Yuan gold prices [above].


Should U.S. investors return to the gold market as buyers of physical gold [via gold ETFs in particular], the additional demand from the U.S. will drive gold and silver prices much higher! Should demand from India, once Indians have usable cash again, their additional demand will add to the upward pressures on the gold price. We see Chinese demand driving gold prices higher alongside falling currency values.


In our latest issue of the Gold Forecaster we discuss this in much more detail. [subscribe: ]


Gold ETFs – Yesterday, in New York, there were no sales or purchases from the SPDR gold ETF or any from or into the Gold Trust, leaving their respective holdings at 804.996 tonnes and 198.30 tonnes. 


As we said in an earlier report, “Substantial sales of gold on a daily basis are needed for New York to control the gold price”.


Since January 4th 2016, 202.416 tonnes of gold has been added to the SPDR gold ETF and to the Gold Trust.  We remain at almost at half the total level accumulated in 2016.



Julian D.W. Phillips | | StockBridge Management Alliance  To ensure you can benefit from the future higher gold prices we will see then, you need to hold it in a manner that makes sure it can’t be taken from you. Contact us at to buy physical gold in a way that we feel, removes the threat of it being confiscated. We’re the only storage company that offers that!


About Service: 

We focus on keeping our readers on top of the emerging Gold bull market with a global fundamental and technical overview. Members gain access to our comprehensive, weekly report with the latest Gold market news, price analysis, along with coverage of other key markets. Economic and monetary topics are covered as well, along with many other influences that have an impact on the Gold market. 


Try a $99 trial subscription and gain immediate access to the latest weekly Gold Forecaster Newsletter!


  Global Gold Price (1 ounce)















Rs. 81,245.70


Y 8,305.37

Y 8,236.37

| Digg This Article
 -- Published: Thursday, 12 January 2017 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2017 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of, its affiliates or advertisers. makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.