Silver Market Morning: Jan 4 2017 - Gold and Silver see a shift in sentiment!

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With a weaker dollar today, gold has jumped in the dollar but even more so in the euro. But what is remarkable is that there was a huge sale of gold from the SPDR gold ETF, which did not move the gold price down. Instead the gold price rose and more so than appeared justified by the fall in the dollar. We can attribute this to the ongoing pull of Chinese prices and demand in Shanghai. The fact that gold prices went higher in London tells us that the gold sold from the SPDR gold ETF was not sold into London this morning, indicating it is on its way to Shanghai.

Gold Today

Wednesday, January 4th

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First published here: Silver Market Morning: Jan 4 2017 - Gold and Silver see a shift in sentiment!

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