Category Archives: Gold Market

gold bars and gold coins

Gold Price Notches 4-Week High

May 26th, 2017 by

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%.

charting gold price

Gold Slightly Lower On Labor Data

May 25th, 2017 by

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 […]

fed eccles building

Spot Gold Flat on Fed Day

May 24th, 2017 by

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. […]

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Gold Slightly Higher After U.K. Attack

May 23rd, 2017 by

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 […]

falling-dollar

Gold Price Rises on Weak Dollar

May 22nd, 2017 by

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 […]

gold-victory-stack

Spot Gold Trades Above Support

May 19th, 2017 by

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.

FBI-Russia

Gold Jumps On Special Counsel News

May 18th, 2017 by

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.

pile-of-gold-rally

Gold Price Surges on White House Turmoil

May 17th, 2017 by

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 […]

gold-investigation

BUYER BEWARE: NFC Microchip Bullion

May 16th, 2017 by

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 […]

dollar-fall-weaker

Gold Rally Continues as Dollar Slumps

May 16th, 2017 by

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 […]

gold_bull_up

Gold Price Runs With Bulls

May 15th, 2017 by

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 […]

consumer-prices-CPI

Gold Up As USD Falls On Weak CPI

May 12th, 2017 by

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.

gold bars and gold coins

Gold Price Rises, Ignores Labor Data

May 11th, 2017 by

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.

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Gold Up In Choppy Trading

May 10th, 2017 by

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.

balance of gold and dollar

Gold Price Slips Again, Dollar Jumps

May 9th, 2017 by

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.

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Spot Gold Higher After “Le Phew”

May 8th, 2017 by

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 […]

non-farm-payrolls

Gold Price Shrugs Off Strong NFP

May 5th, 2017 by

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-lower-down

Gold Falls Through Support

May 4th, 2017 by

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 […]

Federal Reserve Open Market Committee (FOMC)

Gold, Dollar Await Tomorrow’s Rate Decision

May 2nd, 2017 by

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 […]

gold rally

Gold Price Pauses Near $1,265/oz

May 1st, 2017 by

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 […]