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 Close Slightly Lower
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 16 2018
By: Ira Epstein

Volatility Breeds Contempt
By: Michael Ballanger

Rocket Time For Gold
By: Stewart Thomson

A golden escape
By: Richard (Rick) Mills

Does Gold Like Acronyms? The Golden Story of SPX, CPI, and IMF
By: Arkadiusz Sieron

Gold Resource Corporation Reports Preliminary Third Quarter Production of 6,411 Gold Ounces and 321,590 Silver Ounces Maintaining 2018 Annual Outlook
By: Gold Resource Corporation

Of What Am I Now Certain?
By: Avi Gilburt

October Doesn't Disappoint: Volatility Is Back After a Tranquil Third Quarter
By: Frank Holmes

Lower Yields Are Bulls' Best Bet
By: Rick Ackerman


GoldSeek Web

Gold and Silver Market Morning: April 11 2017 - Gold firm below resistance $!

 -- Published: Tuesday, 11 April 2017 | Print  | Disqus 

Gold Today New York closed at $1,254.30 yesterday after closing at $1,254.60 Friday. London opened at $1,256.30 today. 


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

 -         The $: € was stronger at $1.0608 after Friday’s $1.0638: €1.

-         The Dollar index was stronger at 100.90 after Friday’s 100.71. 

-         The Yen was almost unchanged at 110.66 after Friday’s 110.65:$1. 

-         The Yuan was weaker at 6.9012 after Friday’s 6.8992: $1. 

-         The Pound Sterling was weaker at $1.2416 after Friday’s $1.2465: £1.


Yuan Gold Fix

Trade Date


Benchmark Price AM 1 gm

Benchmark Price PM 1 gm

      2017    4    11

      2017    4    10

      2017    4      7    










$ equivalent 1oz @    $1: 6.9012

        $1: 6.9019

        $1: 6.8992









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.]


The Shanghai Gold Exchange was trading at 281.60 towards the close today.


This translates into $1,269.16. New York is trading at a $14.86 discount to Shanghai and London opened at a $12.86 discount to Shanghai.


LBMA price setting:  The LBMA gold price was set today at $1,255.70 from Friday’s $1,264.30. 


The gold price in the euro was set at €1,183.28 after yesterday’s €1,189.37.


Ahead of the opening of New York the gold price was trading at $1,257.30 and in the euro at €1,184.79. At the same time, the silver price was trading at $17.92. 


Silver Today –Silver closed at $17.94 yesterday after $17.99 at New York’s close Friday.


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


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


Price Drivers

The dollar price of gold is rising on the back of a weak dollar and is slightly weaker against a stronger euro. It has yet to gather the strength to break through $1,260 resistance. But the dollar has strengthened, as you can see above, against the euro, leaving the gold price below the 200-day average still.


The Syria strike by the U.S. has not heightened tensions between Russia and the U.S. as much as the markets first discounted. It appears that Russia is satisfied with chest beating without action, simply a warning that the U.S. will be met by force next time. If there is another gas attack soon the situation could deteriorate substantially. Meanwhile, the markets, as we thought they would have retreated to where they were before the missile strike.


The Fed through Mrs. Yellen reaffirmed their stance that interest rates should be raised gradually in order to allow the economy to coast along and remain on an even keel, in order to prevent overheating.


They think a gradual path of increases in short-term interest rates will get them to where we need to be, but we don’t want to wait too long to have that happen. We want to be ahead of the curve and not behind it. Yellen added that the U.S. economy is currently in a “pretty healthy” state and is expected to grow at a moderate pace. Appropriate stance of policy now is something close to neutral noting that the Fed’s assessment of neutral is really not that high. She expected growth to average 2% throughout the economic recovery.


For gold, this is positive as it takes from the robust attitude to the economy that markets factored in after the election of President Trump.


Gold ETFs – Friday saw sales of 0.278 of a tonne from the SPDR gold ETF but a purchase of 1.776 tonnes yesterday. The Gold Trust has seen a gain in its holdings since Friday of o.36 of a tonne. Their SPDR holdings are now at 838.263 tonnes and at 200. 62 tonnes.


Since January 4th 2016, 237.889 tonnes of gold have been added to the SPDR gold ETF and to the Gold Trust.  Since January 6th 2017 27.833 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. 80,817.00

| Digg This Article
 -- Published: Tuesday, 11 April 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 - 2018 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.