Category Archives: Gold Market

Wall St takes a break

Gold Gains In Light Trading

January 16th, 2017 by

Gold prices are modestly higher this morning, after hitting an eight-week high near $1,210 an ounce overnight. Volumes are light today, as US markets are closed for the Martin Luther King Jr. holiday. Both spot gold and February COMEX gold futures are trading $7 an ounce higher in early trading.  All other precious metals are […]

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Gold Pulls Back On PPI, Retail Sales

January 13th, 2017 by

Gold prices lost their overnight grip on $1,200 this morning, after wholesale prices and December retail sales lifted expectations for inflation and economic growth in 2017.  Gold prices were trending around the $1,190 mark, which put spot gold more than $5 lower, before recovering to $1,194/oz. February COMEX gold futures were meanwhile down around $9. Both spot […]

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Gold Tops $1,200 After Trump Presser

January 12th, 2017 by

The precious metals are showing solid gains across the board this morning as Wall St is experiencing its worst open so far in 2017. Meanwhile, gold prices, which topped out at a seven-week high of $1,199.40 after President-elect Donald Trump’s press conference yesterday, gained that extra step and moved as high as $1,206 an ounce […]

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Gold Prices Pressured By Dollar Rally

January 11th, 2017 by

Gold prices are lower this morning in New York after touching a six-week high in early trading. Some activity can also be attributed to profit-taking, as the precious metals sector has started 2017 with a roar.

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Gold Holds Above $1,180

January 10th, 2017 by

The precious metals are modestly higher to unchanged this morning after yesterday’s healthy gains. Key outside markets this morning include the US dollar, which overcame losses in Europe to regain yesterday’s closing price; and oil futures, which are seeing slight gains after plunging 4% on Monday.

gold bull

Gold Price Moves Back Above $1,180/oz

January 9th, 2017 by

The precious metals were modestly higher in early morning trading on Monday, continuing to trend upward after hitting a fresh four-week high to end last week. The gold price advanced almost 0.7% to move back above $1,180 per ounce while spot silver was also about 0.7% higher, trading at $16.65/oz.

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Spot Gold Pulls Back to End Week

January 6th, 2017 by

A slight correction lower and profit-taking by traders hit the gold market on Friday morning. This sent the gold price down about 0.25% to $1,178/oz after the yellow metal moved above $1,180/oz the previous day. The announcement of the non-farm payrolls for December by the U.S. Labor Department came in below expectations but did not lift […]

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Gold Price At 4-Week High

January 5th, 2017 by

On Thursday morning, spot gold was trading about 1% higher at $1,175/oz, a fresh four-week high after a disappointing December. Markets remain focused on hints from the Federal Reserve Open Market Committee (FOMC) and a flurry of economic data coming out as this week ends. Meanwhile, silver prices also added 15¢ to settle around $16.65/oz. […]

falling-dollar

Gold, Oil Up As Dollar Falters

January 4th, 2017 by

The U.S. dollar has given back all of Tuesday’s gains this morning, which is giving a lift to precious metals, oil, and stocks. The DXY dollar index has fallen from its Tuesday close of 103.21, to trade at yesterday’s open of 102.83. Spot gold hit a high of $1,168 per ounce overnight, and is trading […]

looking-ahead

The Year Ahead for the Gold Market

January 3rd, 2017 by

For the first time since 2012, the gold price moved in a positive direction in 2016, gaining over 8% in terms of U.S. dollars. This followed three consecutive losing years. This development came despite the dollar surging to a 14-year high toward the end of the year. In fact, when measured in other currencies, the […]

balance of gold and dollar

Resurgent Dollar Pressures Gold

January 3rd, 2017 by

Gold prices have given back modest gains this morning, as a suddenly stronger dollar is pressuring commodities. Spot gold has slipped back to unchanged, while spot silver prices have gained nearly 1% to climb back above the $16 mark. The PGMs are up sharply, with platinum up by $34 an ounce (+3.77%) and palladium up […]

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Gold Reverses Annual Losing Streak

January 2nd, 2017 by

Gold prices ended 2016 on an up note, closing 8% higher for the year. This is the first year since 2012 that gold has posted an annual gain, lending hope that a long-term bottom has been found in the market. Silver also recorded an annual gain, rising 14% for the year. Markets in London and […]

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Gold Price Remains Steady as Year Ends

December 30th, 2016 by

The financial markets are poised to end the year on an optimistic note on Friday, the last trading day of 2016 before we head into the New Year this weekend. Wall St futures pointed to a higher opening for stocks while the precious metals were steady as markets opened in New York. Spot gold held […]

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Gold Prices Gain On Softer Dollar

December 29th, 2016 by

A softer dollar this morning is boosting precious metals, as markets enter the last two trading days of the year. Spot gold prices are modestly higher around the $1,145 mark, after hitting $1,150 an ounce overnight. Spot silver is marginally higher in New York, after giving up most of its overnight gains.

charting gold price

Gold Up, Easing From Two-Week High

December 28th, 2016 by

Gold prices are just above unchanged this morning after hitting a two-week high overnight. February COMEX gold futures closed $5.10 higher yesterday, and spot gold closed $10.00 higher, in spite of a slightly stronger dollar. The dollar is seeing substantial gains this morning, putting heavy pressure on precious metals.

pile-of-gold-rally

Gold Rises From Holiday Lows

December 27th, 2016 by

Precious metals are seeing bids this morning after languishing near 10-month lows over the Christmas holidays. Gold is up more than 1% from Monday’s close as markets open in the US. Silver and palladium are following gold upward, while platinum is slightly lower. The dollar is having next to no effect on commodities this morning, […]

Wall St takes a break

Gold, Stock Markets Closed Today

December 26th, 2016 by

Markets are closed in Europe and the US today, as traders enjoy the last day of the three-day Christmas weekend. Not only are stocks and bonds spending another day at Friday’s closing prices, so are precious metals. Gold and bonds took advantage of a slightly weaker dollar Friday to book modest gains, as year-end book […]

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Gold Prices Ease Into Holiday Mode

December 23rd, 2016 by

Gold prices are up slightly this morning, as markets wind down ahead of the Christmas weekend. Many traders are taking today off, stretching the three-day holiday to four days. Aside from some window dressing by fund managers, activity should remain quiet through New Years.

pile-of-gold-rally

Gold Prices Erase Early Losses

December 22nd, 2016 by

After slipping below $1,130 per ounce in the early morning hours on Thursday, the gold price recovered back into positive territory by 10 am EST in New York trading. Most precious metal traders are focusing on a slightly softer U.S. dollar and modestly higher crude oil prices in the near-term. At any rate, trading volumes […]

Christmas

Gold Price Steady in Quiet Trading

December 21st, 2016 by

With many folks already focusing on their holiday vacation plans, the financial markets are seeing subdued trading action on Wednesday. As dollar speculators take profits following the USD’s recently rally to its strongest levels in over a decade, the precious metals are receiving a modest lift.