Category Archives: Gold Market

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Up and Down Trading For Gold

September 22nd, 2017 by

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 […]

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Gold Price Falls After Hawkish Fed

September 21st, 2017 by

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 […]

Chair Yellen taking questions. (Photo: Federal Reserve)

Spot Gold Pauses On Fed Day

September 20th, 2017 by

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 […]

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Spot Gold Higher In Choppy Trading

September 19th, 2017 by

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 […]

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Gold Price Tumbles To Begin Week

September 18th, 2017 by

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 […]

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Gold Price Meets Resistance at $1,330/oz

September 15th, 2017 by

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 […]

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Spot Gold Holds Above $1,320/oz

September 14th, 2017 by

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 […]

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Gold Price Steady On Wednesday

September 13th, 2017 by

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.

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Gold Market Cools Off After Irma

September 12th, 2017 by

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 […]

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One-Year High for Gold Price

September 8th, 2017 by

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.

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Gold Withstands Profit-Taking On Draghi, Irma

September 7th, 2017 by

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 […]

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Gold Price Tests $1,340/oz Level

September 6th, 2017 by

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 […]

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Gold Pushes Above $1,330/oz

September 5th, 2017 by

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 […]

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Gold Price Eyes $1,320/oz Before Long Weekend

September 1st, 2017 by

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 […]

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Spot Gold Flat On Thursday

August 31st, 2017 by

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.

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GDP Revision Lifts Dollar, Dents Gold

August 30th, 2017 by

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.

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Gold Rallies On North Korea Tensions

August 29th, 2017 by

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 […]

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Gold Price Tests $1,300/oz

August 28th, 2017 by

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 […]

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Gold Price Jumps in Early Trading

August 25th, 2017 by

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 […]

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Spot Gold Steady Ahead of Jackson Hole

August 24th, 2017 by

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, […]