Category Archives: Gold Market

gold_price

Gold Price Falls Below $1,270/oz

April 25th, 2017 by

Both gold and silver traded lower as the session opened Tuesday, with spot gold losing about $10 per ounce to $1,266/oz. The silver price was off 25¢ (-1.4%) to trade around $17.70/oz. Platinum also followed its cousins lower, losing more than 0.7%. Meanwhile, palladium was flat at $800/oz.

french-election

Gold Eases on French Election

April 24th, 2017 by

The focus of the markets on Monday was the results from the preliminary round of France’s presidential election. The polls showed that Emmanuel Macron, who is seen as the moderate or centrist candidate, finished first in the pack with 24% of the vote. Macron came in ahead of right-wing National Front candidate Marine Le Pen, […]

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Gold Price Higher Amid Uncertainty

April 21st, 2017 by

With unrest and uncertainty characterizing the global climate heading into the first round of France’s presidential elections this weekend, gold prices moved marginally higher in early trading on Friday. Spot gold traded at $1,283/oz around 10 am EST in New York while silver prices were actually 15¢ per ounce lower at $17.85/oz.

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Gold Settles Back Into Channel

April 20th, 2017 by

Gold prices are trending just below unchanged this morning, after dropping $9.40 yesterday to return prices to the $1,279 range. Geopolitical tensions over North Korea and a surprise call for elections in the UK helped gold test the $1,290 mark again earlier this week. Gold bulls were unable to push prices beyond that resistance level, […]

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Gold Settles As Tensions Ease

April 19th, 2017 by

Precious metals are reversing their recent trends this morning, with gold giving back gains notched yesterday, after hitting a 5-1/2 month high. The platinum group metals have finally seen some bargain hunting, as both platinum and palladium are up around a half-percent in early New York trading. Silver is the odd man out this morning, […]

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Gold Steady After Profit-taking

April 18th, 2017 by

Gold prices are trading nearly unchanged from yesterday’s close this morning, after rising as high as $1297 an ounce early Monday. That safe haven spike triggered some profit taking, which brought spot gold down to close at $1,284 even. Silver prices followed much the same trajectory, and are trending marginally lower than yesterday’s close.

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Gold Continues Safe-Haven Rally

April 17th, 2017 by

The precious metals continued to benefit from rising tensions around the globe, particularly with North Korea. The gold price traded as high as $1,295 an ounce overnight before traders took some profits. When markets opened in New York on Monday morning, spot gold was down just $1 per ounce to $1,287/oz. Spot silver was also off slightly, […]

Wall St takes a break

Gold Markets Closed for Good Friday

April 14th, 2017 by

There was no trading in the gold markets in the U.S., the U.K. (the world’s two biggest markets for gold), and Shanghai on Friday. In the West, this was in observance of the Good Friday holiday that precedes the Easter weekend. Accordingly, spot gold was at $1,287/oz and spot silver was around $18.60/oz, where they […]

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Five-Month High for Spot Gold Holds

April 13th, 2017 by

Early morning gains during Thursday’s trading session propelled spot gold to a fresh five-month high. The yellow metal was up slightly, about 0.1%, to $1,286/oz, its best intraday mark since November 10th. This followed a 1% advance on Wednesday. For some perspective on the level of volatility in gold prices around that date, gold’s previous […]

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Gold Gains on Global Jitters

April 12th, 2017 by

Gold prices are holding on to yesterday’s $20 in gains this morning, as tensions on the Korean peninsula ratchet ever-higher. North Korean dictator Kim Jung Un and US president Donald Trump continue to taunt each other in press releases and on Twitter, as a US Navy carrier battle group heads to the eastern coast of […]

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Gold Price Clears $1,260/oz

April 11th, 2017 by

The gold price broke through an important resistance level (its 200-day moving average) on Tuesday, crossing above the $1,260-per-ounce threshold for the first time since November. This represents a five-month high for the yellow metal, which added 0.65% on Tuesday to trade around $1,264/oz. Spot silver likewise pared its previous losses, advancing 0.75% to trade […]

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Gold Price Surges on Safe-Haven Flight

April 7th, 2017 by

Financial markets were troubled by news overnight of U.S. military response to the alleged use of chemical weapons by the Assad regime in Syria. Friday morning’s nonfarm payrolls also offered a disappointing picture of the American economy, further driving safe-haven buying of precious metals. After jumping above $1,270/oz at one point when markets opened this […]

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Gold Price, Jobless Claims Lower

April 6th, 2017 by

Although each of the precious metals were treading negative territory by 9:30 am in New York on Thursday, gold and silver held onto most of yesterday’s late-session gains. This was surprising given the release of an encouraging weekly jobless claims report from the Labor Department this morning. Spot gold still traded above $1,250/oz despite losing 0.25% […]

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Gold Price Loses Momentum on Jobs Report

April 5th, 2017 by

The precious metals bore the brunt of traders’ wrath on Wednesday, losing ground due to profit-taking and renewed exuberance for equities. The main driver of this momentum shift was the release of yet another exceptionally good jobs report from ADP this morning. In response, spot gold slid 0.75% to hold right at $1,246/oz by 10 […]

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Spot Gold Rises Amid Hesitant Markets

April 4th, 2017 by

Tuesday morning saw an early rally for the gold price that briefly sent the market above $1,260 per ounce before slipping back to about $1,257/oz, which was still 0.3% higher than where it started the session. Spot silver was roughly 0.4% higher to trade right at $18.30/oz.

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Festivals, Rupee Lift India Gold Demand

April 3rd, 2017 by

Indian gold demand is sharply higher right now, due to Hindu New Year festivals and the upcoming spring wedding season. A stronger rupee, which has gained 4.8% against the dollar so far this year, has helped moderate gold prices and stoke demand, and a good monsoon season last year has given rural Indians the money […]

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Gold Prices Steady to Start April

April 3rd, 2017 by

Barring some unforeseen “April Fools” revelation from over the weekend, gold has charted a steady path to close March and begin April. The gold price has held ground at almost exactly where it began last week, hovering just below $1,250/oz. Spot gold was trading around $1,247/oz on Monday morning, largely flat. Meanwhile, spot silver was down […]

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Gold Rebounds To End Month

March 31st, 2017 by

Gold saw a small pop in early New York trading this morning, lifting prices to just above unchanged. This is a muted response to Thursday’s big losses, which had spot gold finish the day down by $11 an ounce. Markets across the board will be influenced by the fact that today is the last day […]

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Gold Gives Back Gains On GDP

March 30th, 2017 by

Gold prices are modestly lower this morning, as the US dollar retains yesterday’s gains and the final estimate for fourth quarter 2016 GDP meets expectations. Silver prices have benefited from a sudden bout of buying to swing from losses to marginal gains.

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Gold Recovers On Brexit Declaration

March 29th, 2017 by

Gold prices are trading near unchanged this morning, reversing early losses as British Prime Minister Theresa May officially triggered the process for the UK to leave the European Union. The pound and euro are both only modestly lower, while the jump in the beleaguered US dollar back above 100 on the DXY index is mostly […]