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 Closing Report: Gold and Silver Fall Before Fed Day
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 20 2018
By: Ira Epstein

Fed Day: Mr. Market Meets Mr. Hyde
By: Stewart Thomson

Bear Stearns – A Different Opinion
By: Theodore Butler

Here’s What Inflation Could Look Like in 2020, Based on Past Surges
By: Jeff Clark

Politics And Investing
By: Axel Merk

Jack Chan's Weekly Precious Metals Update
By: Jack Chan

Does Weiner really know what central bankers think better than they themselves do?
By: Chris Powell

Another look at gold’s true fundamentals
By: Steven Saville

The Crypto Market Conundrum
By: Ryan Wilday


GoldSeek Web

Gold and Silver Market Morning: Feb 27 2017 - Gold turning $1,250 resistance into support!

 -- Published: Monday, 27 February 2017 | Print  | Disqus 

Gold Today New York closed at $1,256.70 on the 24th February after closing at $1,248.80 on the 23rd February. London opened at $1,255.00 today.


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


 -         The $: € was slightly stronger at $1.0586: €1 from $1.0589: €1 on Friday.

-         The Dollar index was slightly stronger at 101.06 from 100.95 on Friday. 

-         The Yen was slightly stronger at 112.30:$1 from Friday’s 112.85 against the dollar. 

-         The Yuan was weaker at 6.8800: $1, from 6.8717: $1, Friday

-         The Pound Sterling was weaker at $1.2412: £1 from Friday’s $1.2553: £1.


Yuan Gold Fix

Trade Date


Benchmark Price AM 1 gm

Benchmark Price PM 1 gm

      2017    2    27

      2017    2    24

      2017    2    23










$ equivalent 1oz @  $1: 6.8800

      $1: 6.8717

$1: 6.8786









Please note that the Shanghai Fixes are for 1 gm of gold. From the Middle East 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.]


At the close in Shanghai today, the gold price was trading at 280.0 Yuan, which directly translates into $1,265.84. But allowing for the difference of gold being traded this equates to a price of $1,260.84. This is $4 higher than the New York close and $6 higher than London.


Shanghai opens the week pulling both London and New York higher again but with the two centers following close behind.


LBMA price setting:  The LBMA gold price was set today at $1,256.25 up from Friday’s $1,255.35. 


The gold price in the euro was set higher at €1,187.05 after yesterday’s €1,185.02.


Ahead of the opening of New York the gold price was trading at $1,255.20 and in the euro at €1,185.94.  At the same time, the silver price was trading at $18.37. 


Silver Today –Silver closed at $18.35 at New York’s close Friday against $18.18 on the 23rd February.


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


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


Price Drivers

Looking back over the last week, we see only purchases of 0.44 tonnes of gold into the U.S. based gold ETFs. This confirms to us that the upward pressure on the gold price is coming from the Far East, primarily Shanghai.

 This is remarkable as the gold price has risen around $20 in the same period, breaking through persistent overhead resistance on the way.

It clearly shows that U.S. factors and U.S. buying has not provided the upward pressure on the gold price and confirmed our view that it has been upward pressure from Shanghai.

Political uncertainty is certainly preventing any selling in the developed world as we move towards the Dutch, French and German elections. Italy is looking like a major source of such uncertainty too.


Gold ETFs – Friday saw no sales or purchases from or into the SPDR gold ETF or the Gold Trust.  Their respective holdings are now at 841.169 tonnes and 201.82 tonnes. 


Since January 4th 2016, 242.379 tonnes of gold have been added to the SPDR gold ETF and to the Gold Trust.  Since January 6th 2017 32.298 tonnes have been added to the SPDR gold ETF and 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. 83,818.53

| Digg This Article
 -- Published: Monday, 27 February 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.