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 31 2017 - Gold and Silver move over $1,200 without Shanghai!

 -- Published: Tuesday, 31 January 2017 | Print  | Disqus 

Gold Today New York closed at $1,190.90 on the 30th January after closing at $1,190.90 on the 27th January. London opened at $1,1201.00 today.


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

 -         The $: € was weaker at $1.0711:1 from $1.0696: €1 yesterday.

-         The Dollar index was weaker at 100.34 from 100.55 yesterday. 

-         The Yen was slightly stronger at 113.66:$1 from yesterday’s 114.86 against the dollar. 

-         The Yuan was unchanged at 6.8772: $1, from 6.8772: $1, yesterday

-         The Pound Sterling was weaker at $1.2502: £1 from yesterday’s $1.2545: £1.


Yuan Gold Fix

Trade Date


Benchmark Price AM 1 gm

Benchmark Price PM 1 gm

      2017    1    30

      2017    1    27

      2017    1    26










$ equivalent 1oz @  $1: 6.8772

      $1: 6.8772

$1: 6.8772








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 is closed today until Friday for the Lunar New Year celebrations.


LBMA price setting:  The LBMA gold price was set today at $1,198.80 up from yesterday’s $1,189.85. 


The gold price in the euro was set lower at €1,119.85 after yesterday’s €1,115.34.


Ahead of the opening of New York the gold price was trading at $1,197.75 and in the euro at €1,118.71.  At the same time, the silver price was trading at $17.18. 


Silver Today –Silver closed at $17.15 at New York’s close yesterday against $17.12 on the 27th January. 


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


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


Price Drivers

On Monday in New York, there were purchases of gold into the Gold Trust of 0.60 of a tonne, still not enough to affect the gold price, which continued to rise after President Trump announced his Executive Order on Immigrants. There was no change in the holdings of the SPDR gold ETF, so we see the rise in the gold price over $1,200 as a rise that could easily be turned back. But there are only two more days to do that as Chinese demand returns on Friday. China continues to enjoy its Lunar New Year. We expect gold’s price action to be subdued until they return.


The furore over the President’s executive order looks to outsiders as somewhat chaotic with markets reacting seemingly to the emotions stirred up and not to economic realities. What amazes outsiders is that he won the Presidency on the policies he is enacting now. Did they think he was lying just to get votes then back off his policies? What is for sure is that he will continue to walk this road, so we expect the current tone of his Presidency to continue to be combative and upset the establishment. At this point in time, we would think that his actions will be gold neutral. Only when he announces his fiscal policies do we see it touching the U.S. gold world.


Gold ETFs – Friday, in New York, there were no sales or purchases of gold from or into the SPDR gold ETF but there was a purchase of 0.60 of a tonne from the Gold Trust, leaving their respective holdings at 799.070 tonnes and 198.90 tonnes. 


Since January 4th 2016, 197.09 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 $89 trial subscription and gain immediate access to the latest weekly Gold Forecaster Newsletter! 


  Global Gold Price (1 ounce)















Rs. 80,929.64

| Digg This Article
 -- Published: Tuesday, 31 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.