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By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 February, 2017

At the close in Shanghai today, the gold price was trading at 275.8 Yuan, which directly translates into $1,246.53. But allowing for the difference of gold being traded this equates to a price of $1,241.53. This is $5 higher than New York and $1 higher than London. We watch to see if London and New York continue to follow Shanghai or not. Full Story

By: GoldCore - 22 February, 2017

China alone consumed approximately 2,000 metric tons in 2016, or roughly 60 percent of all the new gold that was mined during the year, according to veteran mining commentator Lawrie Williams, who based his estimates on calculations made by BullionStar’s Koos Jansen. The 2,000 metric tons is a much higher figure than what analysts and the media have been telling us, but I’ve always suspected China’s annual consumption to run higher than “official” numbers. Full Story

By: Chris Mullen, Gold-Seeker.com - 21 February, 2017

Gold held near unchanged in holiday thinned trade yesterday before it dropped down to $1226.30 in midmorning New York trade today and then bounced back to $1238.90 in early afternoon action, but it then drifted back lower into the close and ended with a gain of just 0.06% from Friday’s close. Silver slipped to as low as $17.836 and ended with a loss of 0.11%. Full Story

By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 21 February, 2017

Today’s action was dollar dominated with the gold price in dollars falling and the euro price rising. With no buying or selling of U.S. based gold ETF shares the New York gold price had little reason to rise but it did. In London the gold price fell back as the dollar held higher ground. But the gold price apart from currencies, is standing still and, once again, simply reflecting exchange rate moves. Nevertheless, the fundamentals for gold are extremely strong. Full Story

By: GoldCore - 21 February, 2017

Russia gold buying returned in January with the Russian central bank buying a very large 1 million ounces or 37 metric tonnes of gold bullion. The increase in the gold reserves came after Russia did not buy a single ounce in December – a move seen as potentially a signal or an olive branch to the U.S. and the incoming Trump administration. Full Story

By: Julian D. W. Phillips, Gold Forecaster - 20 February, 2017

Alan Greenspan says that investors are back to safe havens including precious metals because there is no trust in the banking system. And he said countries cannot continue to borrow in the way that they have been signaling that quantitative easing is not working. He added: "I view gold as the primary global currency.

Alan Greenspan is not selling anything, is not given to extreme statements, but is an ex-Chairman of the U.S. Federal Reserve. Full Story

By: Chris Mullen, Gold-Seeker.com - 17 February, 2017

Gold edged down to $1236.60 in Asia before it bounced back to $1243.70 in London, but it then drifted back lower in New York and ended with a loss of 0.3%. Silver slipped to as low as $17.977 and ended with a loss of 0.44%. Full Story

By: GoldSeek.com - 17 February, 2017

COT Gold, Silver and US Dollar Index Report - February 17, 2017 Full Story

By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 February, 2017

Shanghai was trading at 275.90 Yuan towards the close today. This equates to $1,249.96, but allowing for the different quality of gold being traded [.9999 fineness] it stands at $1,244.96. Shanghai continues to lead the way over New York by $5 and $3 over London. With Capital Controls over Yuan outflows reducing turnover volumes in its currency we are watching the classic central bank battles against moves in a currency. We have yet to see a central bank win the battle over controlling an exchange rate. Full Story

By: GoldCore - 17 February, 2017

Central bank governor has “dream” for every citizen to own at least 100 grams of gold bullion
Governor of Central Bank of Kyrgyzstan said the central bank had sold around 140 kilos of gold bullion to the domestic population already
Central Asian country’s central bank continues to diversify into gold bullion
“Gold can be stored for a long time … doesn’t lose its value for the population as a means of savings”
“I’ll try to turn the dream into reality faster…” Full Story

Resources


Gold Bugs Index - HUI

Gold & Silver Index - XAU

COT Reports

COT Gold, Silver and US Dollar Index Report - February 17, 2017

COT Gold, Silver and US Dollar Index Report - February 10, 2017

View All COT Reports

 

- Above are the latest 10 precious metals market reports. Older articles can be found in our archives. -



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