Gold prices gave up early morning gains as the Federal Reserve announced industrial production for February increased by double what analysts were expecting. The news reinforced beliefs that the US economy was improving, further cementing the view that the Fed would raise benchmark interest rates next Wednesday.
The gold price tumbled overnight to $1,318/oz (-0.4%) as traders seemed less risk-averse as the “Ides of March” approached. Silver prices were down almost 10¢ (-0.55%), trading above $16.40/oz. Platinum and palladium each gave up 0.4%, as well.
U.S. markets fluctuated on Wednesday after a pair of government reports on the economy. Gold prices dipped slightly, losing less than 0.25% (-$3) to $1,323/oz. Spot silver was flat at $16.55/oz. Platinum was also mostly unchanged at $965/oz. Yet palladium surged 1.5% (+$15) to just above $1,000 per ounce, its highest in two weeks.
The precious metals saw fresh demand on Tuesday, lifting prices in early trading. Spot gold advanced about 0.2% (+$2) to $1,325/oz when markets opened in New York. Similarly, spot silver added 7¢ (+0.4%) to trade near $16.60/oz.
Investors continued to pile back into the global stock markets on Monday, sending the precious metals modestly lower. The gold price fell about 0.5% (-$6) to below $1,317 per ounce. Gold tumbled from as high as $1,324/oz overnight. Similar action was seen with silver. The silver price was off by 0.8% (-13¢) to $16.44/oz.
A strong report on the U.S. labor market helped stocks rally at the expense of safe-haven assets on Friday. Wall St futures were up sharply while the gold price slipped 0.1% to about $1,320/oz. The yellow metal recovered from a one-month low in earlier trading. In the meantime, the rest of the precious metals were essentially […]
Thursday morning’s meeting of Europe’s central bank left global markets a bit ambivalent. In response, the gold price was down slightly (-0.35%) to $1,320/oz after slipping in the early morning hours. The precious metal is virtually unchanged over the past month. Spot silver dipped just below unchanged (-5¢) at $16.40/oz. Platinum moved sideways to $950/oz. […]
U.S. markets slumped at Wednesday’s open on news of the resignation of a key White House adviser. Spot gold gave back about $4 (-0.3%) this morning but still traded at $1,330/oz. The other precious metals followed Wall St lower, enduring steeper losses. Spot silver was down 20¢ (-1.2%) to about $16.50/oz. Platinum and palladium each […]
A potential breakthrough in the long-time tensions on the Korean Peninsula gave global markets a lift on Tuesday. Gold prices also responded positively. The yellow metal jumped $13 (+1.0%) to $1,332/oz in early trading.
Uncertainty over U.S. trade policy and the political stability of Europe’s third-largest economy dominated market news on Monday. Spot gold opened basically flat at $1,320/oz amid quiet activity in U.S. markets. Gold was still well off its overnight high of $1,328.50/oz prior to the opening bell in New York.
The gold price rallied in early trading on Friday, gaining $6 (+0.4%) to about $1,323 an ounce. This came as COMEX gold futures surged better than $20 following the lowest closing price of 2018. Spot silver added 0.2% (+3¢) to $16.49/oz.
Precious metals are under pressure this morning, as first-time jobless claims and personal consumption expenditures point toward an accelerating economy. Gold was down more than $12 an ounce Thursday morning, while silver and platinum group metals were hit especially hard.
Spot gold opened flat on Wednesday, trading just below $1,320/oz. The yellow metal lost ground on Tuesday. Both Wall St and the precious metals tumbled after Fed Chair Powell’s testimony to Congress was considered too hawkish.
A rising U.S. dollar dinged commodity prices on Tuesday morning. Focus remained on Capitol Hill, where the new Fed chair gave his first of two days of testimony before Congress. The gold price slid roughly 0.6% (-$8) to trade at $1,324.50 an ounce. Spot silver lost 18¢ (-1.0%) to below $16.50/oz. Platinum was also down […]
Spot gold was up $5 (+0.4%) to $1,333/oz on Monday morning. It fell from an overnight high of nearly $1,341. This was partly due to the dollar recovering during the early hours of the morning. The silver price rose 9¢ (+0.6%) to $16.60/oz. Platinum was steady around $1,000/oz. Palladium gained $12 (+1.2%) to almost $1,050/oz.
Volatility continued to calm down across the financial markets on Friday. The gold price was steady at $1,330/oz after rising in after-hours trading.
The gold price held around $1,328/oz after markets reacted to a more hawkish tone from the Federal Reserve. Platinum was up modestly from yesterday’s losses but traded at $990/oz. The silver price likewise recovered to $16.57/oz. Palladium was the best performer among the metals, surging 1.3% to $1,025/oz.
Spot gold opened just above $1,330/oz on Wednesday, down about $20 from where it closed last week. However, the yellow metal is sharply higher from its overnight lows. Spot silver added 18¢ (+1.1%) to trade right around $16.60/oz. Platinum was about unchanged at $1,000/oz while palladium was down 0.5% to $1,018/oz.
The selloff of bonds cooled off on Tuesday as U.S. markets reopened after the President’s Day holiday. Gold trading closed early yesterday at 1 pm EST. Precious metal prices tumbled at the open but quickly recovered by about 10 am in New York. Spot gold was still down more than $6 (-0.5%) to $1,340/oz. The silver […]
Spot gold was choppy but traded basically sideways on Monday, steadying around $1,347/oz. The yellow metal leaked lower in overnight trading. With the rally above $1,350 late last week, some gold traders are likely taking profits. U.S. bond and stock markets are closed today for President’s Day. Commercial banks will be off for the holiday, […]