Category Archives: Gold Market

Gold Fades On Stronger Industrial Production

March 16th, 2018 by

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.

stock market

Gold Price Off Slightly After PPI, Retail Sales

March 14th, 2018 by

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.

Risk-On Sentiment Knocks Gold Price Lower

March 12th, 2018 by

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.

Spot Gold Ends Week Down Slightly, NFP Beat Expectations

March 9th, 2018 by

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 […]

Gold Opens Lower on Thursday as ECB Stands Pat

March 8th, 2018 by

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. […]

Precious Metals Fall Along With Broader Markets After Cohn Resigns

March 7th, 2018 by

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 […]

Gold Price Unchanged at $1,320/oz on Monday

March 5th, 2018 by

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.

Gold Pressured By Jobless, Consumer Numbers

March 1st, 2018 by

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.

balance of gold and dollar

Precious Metals Slide With Commodities On Stronger Dollar

February 27th, 2018 by

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 […]

Gold Price Up to $1,335/oz After Paring Gains Overnight

February 26th, 2018 by

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.

Fed Spooks Markets But Gold Price Steadies

February 22nd, 2018 by

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.

gold bars and gold coins

Spot Gold Tumbles Overnight, Rebounds Wednesday Morning

February 21st, 2018 by

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.

Dollar Rallies, Bonds Ease, Precious Metals Pare Losses

February 20th, 2018 by

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 […]

charting gold price

Gold Price Flat on Monday After Losing Ground Overnight

February 19th, 2018 by

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, […]