LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

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

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA


GoldSeek Web

Gold and Silver Market Morning: Jan 23 2017 - Gold and Silver rising against the dollar!

 -- Published: Monday, 23 January 2017 | Print  | Disqus 

Gold Today New York closed at $1,207.60 on the 20th January after closing at $1,201.50 on the 19th January. London opened at $1,212.00 today.


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

-         The $: € was weaker at $1.0730:1 from $1.0679: €1 Friday.

-         The Dollar index was weaker at 100.42 from 100.97 Friday

-         The Yen was stronger at 113.61: $1 from Friday’s 114.73 against the dollar. 

-         The Yuan was stronger at 6.8546: $1, from 6.8765: $1, Friday

-         The Pound Sterling was stronger at $1.2452: £1 from Friday’s $1.2355: £1.


Yuan Gold Fix

Trade Date


Benchmark Price AM 1 gm

Benchmark Price PM 1 gm

      2017    1    23

      2017    1    20

      2017    1    19










$ equivalent 1oz @  $1: 6.8546

      $1: 6.8765

$1: 6.8767








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 was trading today at around 271 Yuan having touched slightly higher during the day. On today’s exchange rate this equates to $1,229 with the dollar weaker across the board as well as against the Yuan.


New York, on Friday closed at only a $4.60 discount to prices in Shanghai on Friday and London opened on Monday $12.00 higher than Shanghai. Shanghai is, once again driving prices despite the stronger Yuan against the dollar. It demonstrates that gold is rising against all currencies today and in all gold markets.


LBMA price setting:  The LBMA gold price setting was not available at the time of sending this to you, against Friday’s $1,199.10. 


The gold price in the euro was set lower at €1,127.93 after Friday’s €1,127.93 as the dollar continued to weaken.


Ahead of the opening of New York the gold price was trading at $1,213.35 and in the euro at €1,129.75.  At the same time, the silver price was trading at $17.17. 


Silver Today –Silver closed at $17.07 at New York’s close Friday from $17.00 on the 19th January. 


Gold (very short-term) The gold price will be stronger, in New York today.      


Silver (very short-term) The silver price will be stronger, in New York today.


Price Drivers

On the day of President Trump’s inauguration we saw a purchase of size [but not very large] of 1.185 tonnes into the SPDR gold ETF. This is the second purchase in the last fortnight, of size, into the fund. It does indicate that the selling has stopped and the buying has begun again.


President Trump looks as though he will keep his campaign promises regarding foreign policies. He looks as though he will ensure a protectionist introverted set of policies that will move away from the avuncular, [get it right by following us], global policy “We act only in our national interests to ‘make America great’ again!” policies.


We see the initial consequences as him holding to his promise of not buying O.P.E.C. oil [see our issues to get this prospect filled out], to getting out of Trade packs that did not suit the U.S. and going headlong at China in a Trade war of sorts.


He wants the dollar lower, the E.U. wants the euro lower, the U.K. wants a weaker pound and Japan wants a lower Yen. Against who, we ask?!!!


President Trump’s opinion on the dollar, we believe, is in line with both the Fed’s and the Treasury’s, making today’s fall in the dollar no surprise. His opinion has probably removed internal barriers to seeing the dollar go lower anyway.


All of this is long, medium and likely short term, positive for gold! For instance with China asserting Capital Controls on the outflow of wealth that does not benefit China and who are still encouraging investments in gold by their citizens, the Shanghai Gold Exchange is driving gold prices globally still.  The global fundamentals remain positive for gold.


Gold ETFs – Friday, in New York, there were purchases of 1.185 tonnes of gold into the SPDR gold ETF but there were no purchases or sales into or from the Gold Trust, leaving their respective holdings at 809.145 tonnes and 198.75 tonnes. 


Since January 4th 2016, 207.015 tonnes of gold has been added to the SPDR gold ETF and to the Gold Trust. 




 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. 81,822.00

| Digg This Article
 -- Published: Monday, 23 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 - 2019 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, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.