After plunging in the wake of Wednesday’s meeting of the Federal Reserve, gold was sharply higher in early trading, again testing the $1,300/oz level that has flipped from support to resistance. However, spot gold was only up about $5 by the time action got going in Western markets, trading above $1,295/oz. Spot silver crept 2¢ per […]
Investors generally judged yesterday’s announcement from the Fed Open Market Committee (FOMC) to be hawkish, as the central bank pledged to begin the process of reducing its $4.5-trillion balance sheet. There was no movement on interest rates at the September meeting, however. The resulting market action was a bit of a sell-off for the precious […]
Virtually all activity in the markets, including the precious metals, will be governed by one fact on Wednesday: it’s Fed Day. Analysts are mostly split on what the central bank will do, making it essentially a 50-50 shot that the Federal Reserve will raise rates another 25 basis points at either this meeting or in […]
The precious metals were mixed in early trading, with gold and silver slightly above unchanged and the Platinum Group Metals losing considerable ground. Spot gold was fairly volatile on Tuesday morning, but stabilized around $1,309/oz, slightly in positive territory. The silver price similarly rebounded back to above unchanged at $17.20/oz after opening lower. Platinum slid by about […]
Gold prices hit a stumbling block on Monday morning as investors chose instead to pile into stocks, sending safe havens such as the precious metals into retreat. Spot gold fell about $9 per ounce to $1,311.50/oz this morning, failing at an apparent resistance level at $1,325 per ounce. The silver price slumped as well, trading […]
Despite some disappointing retail sales numbers in the U.S. released this morning, gold prices (as well as the other precious metals) were struggling to break into positive territory on Friday. Spot gold was down roughly 0.4% to $1,323 per ounce in early trading, recovering a bit from an initial tumble when the market hit a […]
After the precious metals trended lower on Wednesday, the markets woke up a bit on Thursday, with slightly more volatile action for the gold price. Spot gold bounced up and down this morning before trading around $1,324/oz, slight above unchanged from yesterday’s close. Spot silver was still 2¢ lower to $17.72/oz. Palladium lost 0.75% while platinum […]
The precious metal markets were fairly quiet on Wednesday morning, with spot gold trading essentially flat at $1,330 per ounce. The Platinum Group Metals saw steeper losses, with platinum down 0.9% to $980/oz and palladium off more than 1% to $935/oz. Meantime, spot silver was down almost 10¢ an ounce (-0.45%) to $17.80/oz.
After a weekend where much of the country was glued to their television screens to watch the progress of Hurricane Irma through Florida, much of the state is returning to some sense of normalcy as clean-up and recovery efforts begin in earnest. Some areas are still without power, and while most of mainland Florida survived […]
The gold price slipped from its highs above $1,350/oz in overnight trading, but is still above $1,346/oz on Friday morning. After another robust rally on Thursday, spot gold remains at a one-year high. Spot silver traded north of $18 per ounce as the precious metals charted their third consecutive week of gains.
Between cautiously dovish comments from the head of the European Central Bank (ECB) to the massive storm in the Caribbean headed toward the East Coast of the United States, the precious metals continued to rally on Thursday morning. Each of the metals have withstood a heavy (but unsurprising) bout of profit-taking to quickly reclaim all […]
The precious metals were steady in early trading on Wednesday, as spot gold opened virtually flat at $1,339 per ounce. There has been speculation about why the metals have rallied of late, with a range of different opinions (all of which sound fairly convincing!), from monetary policy to geopolitical strife to an old-fashioned run toward […]
Gold was higher in international trading yesterday, notching as high as $1,337/oz. Of course, this didn’t show up in the New York markets, which were closed due to the Labor Day holiday on Monday. When things got back to business as usual on Tuesday, spot gold opened just slightly below unchanged at $1,333/oz. The spot […]
The precious metals surged in afternoon trading on Thursday, and this positive momentum apparently carried over into Friday. Due to the Labor Day holiday, this will be the last trading day for U.S. markets until Tuesday, September 5th. Spot gold was up about 0.2% following the opening bell in New York, trading around $1,323/oz. After […]
There was not a great deal of action for the precious metals on Thursday. Although silver prices initially lost 5¢, they recovered to unchanged near $17.40/oz in early trading. Spot gold opened unchanged this morning before moving slightly higher to trade just above $1,310/oz. Platinum and palladium were mixed.
Following a fresh set of economic data that beat expectations on Wednesday, gold prices were ever so slightly lower in early trading. Spot gold was down just a hair to $1,307/oz. Likewise, the silver price slipped just 2 cents per ounce to $17.33/oz. Platinum and palladium fell farther, losing approximately 0.7% and 1.5%, respectively.
Somewhat to the surprise of markets (given the dramatic response), the regime in North Korea (DPRK) rudely shook the world awake on Tuesday after testing yet another deadly missile. This time, the projectile was launched over Japan and landed on the east side of the country in the Pacific Ocean. This drove the gold price […]
The precious metals appear to have carried over their positive momentum from last week, opening solidly higher in early trading on Monday. Spot gold was up about $7.50 to trade at $1,298 per ounce. The $1,300/oz milestone has been a key stumbling block for the yellow metal, so if gold prices can break above this […]
Spot gold surged higher right around the time markets opened on Friday morning thanks to awful durable goods data released by the Department of Commerce. The yellow metal traded about 0.5% higher at $1,292/oz yet still faces hard resistance near the key $1,300/oz level. Meanwhile, spot silver gained almost 1% on Friday, adding 16¢ to […]
Markets were quiet as Thursday morning saw the beginning of the annual meeting of central bankers in Jackson Hole, Wyoming. As investors wait to see what the world’s experts on monetary policy say about the state of the economy, trading volumes have been low. Spot gold was off by just $2 per ounce to $1,288/oz, […]