Category Archives: Gold Market

Gold Tests $1,285 On Friday

November 17th, 2017 by

The precious metals looked to hold onto their gains from this week as all four metals moved higher in early trading on Friday. Spot gold was up 0.5% to $1,285/oz while spot silver added 3¢ to $17.08/oz. Platinum (+1.0%) and palladium (+0.2%) each traded higher, as well.

Gold Price Slightly Higher On Jobless Claims

November 16th, 2017 by

Gold prices traded slightly higher at opening bell on Thursday, up about $3 per ounce to $1,280/oz thanks to some disappointing economic data. The precious metals remain stuck in a consolidation pattern, leaving traders and investors unsure of where the market will move next. The silver price jumped 13¢ (+0.8%) to $17.09/oz while platinum and […]

Precious Metals Rally As Inflation Gauge Rises

November 15th, 2017 by

An increase in core inflation in the U.S. helped push the precious metals higher on Wednesday, much to the chagrin of the stock markets. Spot gold rallied 0.3% this morning, adding $4 per ounce to trade at $1,284/oz. However, the yellow metal was off its highs of $1,287.50/oz earlier in the session. Silver prices initially jumped […]

Spot Gold Loses Ground, Bounces Back On Tuesday

November 14th, 2017 by

After rebounding from Friday’s losses to begin this week, spot gold was down another 0.4% to $1,272 per ounce early on Tuesday morning. However, by about 10 am EST, the yellow metal had once again recovered, up almost 0.2% to $1,280/oz. Some of the selling pressure came from traders who are trying to offset losses […]

Gold Rebounds To Start Week

November 13th, 2017 by

Precious metals are higher across the board to begin the new week. Gold prices are working to push back above $1,280 an ounce, recovering from a suspiciously large sell order in COMEX gold futures that battered the gold spot price $8 lower within a matter of minutes. This pulled gold back from a nearly three-week […]

Gold Price Steady As Stocks Stumble

November 10th, 2017 by

Spot gold was barely below unchanged when markets opened in New York on Friday morning, trading just shy of $1,284/oz. The precious metals looked to end the week on a high note as investors are finding more than one reason to sour on stocks. Spot silver gained 8¢ (+0.47%) to $17.03/oz. Meanwhile, platinum was flat […]

charting gold price

Spot Gold Hits 3-Week High

November 9th, 2017 by

Spot gold hit a three-week high at $1,285/oz on Thursday, benefiting from somewhat weaker momentum in the stock market and a softer U.S. dollar. Silver prices coughed up early gains, trading 5¢ lower (-0.3%) to $16.94/oz. Platinum edged higher to $931/oz while palladium slipped 0.2%, but still traded above $1,000/oz.

Precious Metals Surge, Stocks Fall

November 8th, 2017 by

Stocks took a breather on Wednesday, prompting many investors to “buy the dip” in the precious metal prices. This propelled the gold price about $10 (+0.8%) higher to $1,285/oz. Spot silver gained 15¢ (+1%) to trade at $17.07/oz. Both platinum ($931/oz) and palladium ($1,002/oz) were also up better than 1.2% in early trading.

balance of gold and dollar

Gold, Silver Dip On Stronger Dollar

November 7th, 2017 by

The precious metals gave back all of Monday’s gains in early action this morning, facing selling pressure from traders taking profits as well as the effects of a stronger dollar. Spot gold traded down about $10 to $1,272/oz while spot silver lost 23¢ (-1.3%) to $16.98/oz. Prices for both metals were essentially back where they […]

Spot Gold Stuck Around $1,270/oz

November 6th, 2017 by

The precious metals market stirred only a little on Monday. Gold saw a bit of demand amid another exposé of hidden wealth (after the “Panama Papers” two summers ago) hit the news wires. This time, the press has dubbed the new revelations the “Paradise Papers.” Gold prices were up slightly as the yellow metal moved […]

Nonfarm Payrolls Lift Gold Above Unchanged

November 3rd, 2017 by

A mixed reaction to Friday’s nonfarm payrolls data helped the precious metals bounce higher in early trading. Spot gold was essentially flat at $1,277/oz, recovering from losses earlier in the session. Spot silver gave back modest gains, returning to about $17.10/oz.

Spot Gold Steady After BOE Raises Rates

November 2nd, 2017 by

The precious metals traded modestly higher on Thursday as central bank activity drove much of the action in early trading. Spot gold opened just slightly above unchanged for the second straight day, hovering around $1,277/oz before jumping above $1,280/oz. Gold has been stuck in a range below about $1,282/oz for the past two weeks. Meanwhile […]

Other Precious Metals Outpace Gold

November 1st, 2017 by

Wednesday promised to be an interesting day of trading in the financial markets as a number of important developments are coinciding this week. Despite a senseless terror attack taking the lives of at least eight people in New York City late on Tuesday, markets in the U.S. and abroad were fairly calm this morning. A […]

Gold Market Spooked On Halloween

October 31st, 2017 by

It seemed traders in the gold market were spooked by something on Tuesday aside from the Halloween holiday. Spot gold was down about $5 per ounce to $1,271/oz despite trading steady overnight.

Precious Metals Weaker Heading Into Fed Week

October 30th, 2017 by

The precious metals were somewhat choppy in early trading ahead of a busy week of economic data and potential moves by central banks. This is in addition to quarterly earnings reports continuing to trickle across the wire from Wall St and the expiry of options tomorrow on Halloween. Spot gold was down about $1 to […]

robbery heist

Bizarre Gold Smuggling Stories in Sri Lanka

October 29th, 2017 by

Due to overwhelming gold demand and a government determined to reduce the flow of foreign gold into the country, India is home to more cases—and more bizarre cases—of gold smuggling than virtually anywhere else in the world. This forces smugglers to use proxies in neighboring countries to attempt to evade the detection of customs authorities.

Gold Falls Near August Lows On GDP Beat

October 27th, 2017 by

Friday morning saw spot gold trend lower again after the precious metals lost ground on Thursday afternoon. The gold price traded a shade higher to $1,266.50/oz, still near its lowest since early August. Spot silver tumbled another 0.8% to $16.64/oz. Both platinum and palladium were virtually unchanged as markets opened before the latter sank about […]

Gold Price Flat as ECB Begins QE Taper

October 26th, 2017 by

With the big announcement about the future pace of stimulus from the European Central Bank (ECB) grabbing headlines on Thursday morning, the stronger U.S. dollar knocked gold prices from a high of $1,282/oz early this morning to about $3 down to $1,273/oz. Spot silver lost 4¢ to $16.89/oz. Platinum traded just below unchanged at $920/oz […]

Durable Goods Industrial Activity Manufacturing

Spot Gold Slips On Strong Durable Goods

October 25th, 2017 by

Wednesday looked to be another tough trading session for the precious metals as safe havens have been losing investor appeal across the board. Spot gold was down $3 this morning to just $1,273/oz, approaching a three-week low. The silver price slipped 5¢ (-0.3%) to $16.86/oz. Meanwhile, platinum was down 0.75% to about $915/oz and palladium […]

charting gold price

Precious Metals Bounce Off Their Lows

October 24th, 2017 by

The precious metals regained some ground on Monday afternoon after slipping at the open of the session. The pattern seemed to repeat itself on Tuesday morning, as the gold price was off its lows of $1,272/oz. By about 10 am ET, spot gold was still down $5 to $1,277/oz but had previously traded as high […]