- Today’s AM fix was USD 1,256.00, EUR 974.78 and GBP 779.79 per ounce.
- Yesterday’s AM fix was USD 1,267.25, EUR 978.87 and GBP 786.57 per ounce.
- Gold fell $13.20 or 1.04% to $1,255.60 per ounce and silver dropped $0.17 or 0.89% to $19.03 per ounce yesterday.
Gold is currently trading near a three month low at $1,255, but unchanged from close of trading in New York yesterday. Specifically, the three month low was in June 2014 at $1,240. Yesterday in New York trading, gold fell more than $10 from $1,265 but recovered to close in New York at $1,255. In Singapore overnight trading, gold finished trading near $1,255.
The US Dollar Index is currently trading near its 14 month high which was reached in July 2013.
Silver is trading at $19.19, unchanged from yesterday. Platinum is down 1.05% at $1,395 while palladium is down 1.45% at $887.
Macro Factors Dominating Gold Price As US Dollar Outweighs Physical Demand And Investor Flows With gold trading in a narrow range below $1,300 and remaining relatively weak, it is worth pausing at this juncture to look at the combination of factors that are affecting its price formation.
A current snapshot of the world gold market and its near term outlook can be gauged by examining four sets of influences on the market, namely the macro/geopolitical environment, investment demand flows, physical demand in the major markets (using India as an example), and finally the technical picture.