In defiance of a number of encouraging economic data points coming out on Friday, the gold price held onto its overnight gains, trading about $11 per ounce higher this morning around $1,267/oz. Spot silver gained more than 20¢ an ounce to $17.33/oz, while platinum and palladium were each up well over 1%.
Gold prices are trading slightly under yesterday’s spot close, where the metal gained $7.90 an ounce. Spot silver is unchanged, while platinum and palladium are showing moderate gains. This morning’s main driver of prices is the ongoing OPEC meeting in Vienna, where member nations and non-member states are hammering out an agreement to extend oil […]
All eyes were trained on the release of the Fed Open Market Committee (FOMC) meeting minutes from earlier this month on Wednesday. The minutes are scheduled to be made public right at 2 pm EST this afternoon, as usual, and will surely be followed by sundry and varied commentary from Fed officials in the following hours. […]
Global markets were a bit shaky on Tuesday after a concert in Manchester, U.K. by pop star Ariana Grande was marred by an ISIS bombing that killed at least 22 people, including children, last night. The so-called Islamic State took credit for the horrific attack. Undoubtedly, everyday life in the U.K. was disrupted as the […]
The precious metals opened slightly higher on Monday morning thanks in no small part to a softer U.S. dollar. Spot gold was up modestly in early trading to $1,258/oz while silver prices gained 1% to cross back above the $17/oz threshold. Platinum prices were flat at about $940/oz but palladium bucked the trend, tumbling about […]
Friday morning saw the precious metals claw back some of ground that was ceded on Thursday due to profit-taking. Spot gold traded about $6 per ounce higher (+0.5%) to hover around $1,253/oz. Spot silver was 23¢ higher (+1.4%) to trade at $16.80/oz.
Gold demand exploded Wednesday on news that an independent counsel has been appointed by the Justice Department to oversee the FBI investigation into possible collusion between Donald Trump’s campaign and Russian operatives. Spot gold closed $24.20 higher Wednesday at $1260.90 an ounce, while the stock market saw its largest one-day losses in 8 months.
The risk-on attitude that has weighed on the precious metals the past few weeks seems to finally have been lifted on Wednesday, as gold broke out of its slump in a big way during early trading. Spot gold surged above $1,250/oz for the first time in two weeks, gaining more than $15 per ounce to […]
There’s a troubling trend in the bullion investing community that could have major consequences for those who own gold and silver. Yet this development is being pitched as the next great innovation in bullion security. Many investors may unwittingly be duped into disclosing exactly how much gold they have, and where it’s stored, all because of […]
Precious metals are trending higher this morning, with gold prices rallying for the fourth day on a weaker dollar and risk-off sentiment on the global stage. Soft economic news in the US has the dollar weaker for another day, with some analysts predicting that the greenback’s rally is done for now. A softer dollar boosts […]
The early signal on Monday morning was that the bulls in the gold market had taken the upper hand in the trade, as prices for the precious metals rose thanks to a modest impetus from the outside markets. Spot gold was $8 per ounce higher to $1,235/oz when markets opened in New York, while spot […]
Precious metals received a boost to start the day today, as weaker than expected retail sales figures and soft consumer price pressures deflated the US dollar. Gold prices jumped above the $1,230 mark on the sudden dollar weakness, adding to yesterday’s gain of six dollars an ounce. Silver prices have also already matched Thursday’s gains.
In spite of the release of Labor Department data that indicate greater improvement in the job market, the precious metals inched a bit higher again on Thursday morning. Spot gold was up 0.25% to about $1,222/oz while spot silver added 0.4% to about $16.25/oz.
The precious metals experienced some volatile action early in Wednesday’s trading session. When markets opened in New York, spot gold was up $3 per ounce to $1,225/oz while silver prices were 10¢ higher (+0.6%) to $16.25/oz.
With investors again jumping head-first into the stock market, the precious metals saw some modest selling pressure on Tuesday morning. Spot gold traded down about $5 per ounce to about $1,220/oz, extending a slump that dates back to the beginning of last week. The silver price lost 2¢ to fall to $16.18/oz.
Gold prices were slightly higher on Monday morning following the triumph of centrist candidate Emmanuel Macron in France’s presidential election over the weekend. Macron, a former investment banker who represented neither of the two traditional political parties in France (the Socialists and Republicans), bested National Front candidate Marine Le Pen, who is staunchly anti-EU and […]
The spot gold price began Friday up ever so slightly after being battered all week. The yellow metal traded around $1,230/oz when markets opened in New York, while spot silver was 2¢ per ounce higher at $16.30/oz. Silver still sits more than 10% below its April high of $18.70/oz, which occurred just three weeks ago.
Gold prices fell through support this morning after first-time jobless claims were reported far under estimates. Spot gold is trading under $1,230 an ounce in New York — $10 lower on the day, and at a six-week low. Spot prices have fallen nearly $30 since Tuesday evening. European safe haven demand fell sharply overnight, as […]
Precious metals are quiet this morning, as the Federal Reserve Bank’s Open Market Committee Meeting gets underway. There is little doubt that the Fed will leave the fed funds rate alone, with this morning’s CME FedWatch gauge giving a 95.2% chance of the Fed standing pat tomorrow afternoon. Recent data showing a weakening economy over […]
As they have been for the past month, gold prices were fairly idle when markets opened on Monday, the first trading day of May. Spot gold was down about 0.1% in early trading in New York, steadying around $1,266/oz. Meanwhile, the silver price was off 0.25% to fall below $17.20/oz. For the other precious metals, the […]