OnDemand WTP Pricing Research

Gold pricing power to move to Shanghai over time | lawrieongold

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The New York gold price closed Tuesday at $1,068.10 down from $1,071.70.  In Asia and London, prices were at $1,071.25 with the dollar index slightly higher at 98.18 up from 98.02. The LBMA gold price was set at $1,067.80. The euro slipped slightly to $1.0925 down from $1.0969 on Tuesday against the dollar. The gold price in the euro was set at €977.48. Ahead of New York’s opening, the gold price was trading at $1,067.35 and in the euro at €976.89.  silver price in New York closed at $13.93. Ahead of New York’s opening the silver price stood at $13.85.

PRICE DRIVERS

Monday saw no sales from the SPDR gold ETF , but sales from the Gold Trust of 0.51 of a tonne. The holdings of the SPDR gold ETF are now at 643.558 tonnes and at 153.21 tonnes in the Gold Trust. We continue to expect to see weaker prices for the rest of this week, as New York continues to set prices in line with the dollar Index and €: $ exchange rates.

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Gold pricing power to move to Shanghai over time – lawrieongold.