Category Archives: Gold Market

Gold Trades Higher With Government Shutdown Looming

January 19th, 2018 by

The precious metals were higher on Friday amid the distinct potential for a government shutdown in the United States today. More investors are deciding to hold gold as a hedge (or insurance) against this possibility. Spot gold was up $7 (+0.5%) to $1,333/oz in early trading.

Gold and Silver Steady On Big Day of Economic Data

January 18th, 2018 by

Financial markets were given an array of fresh economic data to digest on Thursday morning. The combined effect was a quiet morning of relatively steady trading. Spot gold was up 0.3% to $1,330/oz after the precious metals fell in afternoon trading on Wednesday. Spot silver rebounded 9¢ (+0.55%) to $17.07/oz.

Precious Metals Consolidate as Dollar Rises

January 17th, 2018 by

A slightly stronger U.S. dollar knocked the precious metals modestly lower on Wednesday. Technical traders are following a consolidation pattern in gold after the metal recently ran up to four-month highs. The gold price was down slightly (-0.15%) to $1,336 per ounce in early trading. Gold is up 5.75% over the course of the last […]

charting gold price

Gold Price Falls Near Support at $1,330

January 16th, 2018 by

Technical considerations drove the precious metals lower on Tuesday morning. The gold price responded to some profit-taking after reaching a four-month high during yesterday’s session. Spot gold lost $5 (-0.4%) to $1,334 per ounce as the yellow metal is testing whether support at the $1,330/oz level will hold. However, there are still a growing number […]

Spot Gold Rises On MLK Day

January 15th, 2018 by

The precious metals posted solid gains on Monday morning as the dollar sank to a three-year low. The dollar headed for its fifth straight weekly decline even as U.S. markets are closed in observance of Martin Luther King Jr. Day. Spot gold was up almost 0.3% to about $1,340 an ounce, another fresh four-month high. […]

Gold Price Pares Gains After CPI Rises

January 12th, 2018 by

The precious metals traded higher on Friday but pared their gains after consumer prices and retail sales were reported in the U.S. this morning. The gold price still inched higher to $1,328/oz in early trading while silver prices were back up 11¢ (+0.6%) to $17.07/oz. Platinum and palladium each rallied to close out the week: […]

Hawkish ECB Helps Lift Gold Prices

January 11th, 2018 by

The release of last month’s meeting minutes of the European Central Bank (ECB) and weekly jobless claims in the U.S. helped lift gold prices on Thursday at the expense of the dollar. Spot gold added $5 (+0.4%) to trade near $1,322/oz. The silver price was mostly flat at $16.97/oz. In the meantime, the Platinum Group Metals […]

Gold Reclaims $1,320 Level Amid Bond Meltdown

January 10th, 2018 by

The precious metals joined other commodities in moving higher on Wednesday morning thanks to a sharp drop for the U.S. dollar and a massive sell-off of bonds. The gold price was up about $6 (+0.5%) to $1,319/oz in early trading after touching above the $1,320 mark. Spot silver added 9¢ (+0.5%) to trade at $17.03/oz. […]

balance of gold and dollar

Stronger Dollar Knocks Gold Lower

January 9th, 2018 by

A modest rally for the U.S. dollar sapped some of the momentum from the precious metals on Tuesday morning. Spot gold fell $7 (-0.55%) to $1,312/oz while the silver price gave back two-thirds of a percentage point (-11¢) to fall below $17 an ounce. Platinum was mostly unchanged at $970/oz but palladium rallied above $1,100/oz, […]

Gold Price Unchanged To Start Week

January 8th, 2018 by

The precious metals saw some light profit-taking as they begin to run up against technical resistance following the recent rally for gold. Spot gold traded unchanged around $1,319/oz on Monday in spite of a stronger U.S. dollar. Spot silver fell 9¢ (-0.5%) to $17.08 per ounce. Platinum and palladium were both flat around $970/oz and […]

Gold Holds Near $1,320/oz On Nonfarm Payrolls Miss

January 5th, 2018 by

After a disappointing jobs report from the Department of Labor on Friday, spot gold traded 0.45% below where it closed the previous day. The yellow metal hovered around $1,316/oz following its 10th consecutive trading session of gains on Thursday.

Gold Rebounds After Profit-Taking

January 4th, 2018 by

Gold saw some profit-taking on Thursday morning but recovered when trading opened in New York. The selling was hardly unexpected after a two-week rally for the precious metals. Gold prices fell as low as $1,309/oz early this morning but traded back above $1,315/oz at the time of writing. Spot silver likewise rose when the trading […]

Precious Metals Hold Firm On Wednesday

January 3rd, 2018 by

The precious metals continued to ride positive momentum into the new year, although the markets opened mixed on Wednesday. Spot gold initially traded slightly lower but recovered to unchanged around $1,317/oz shortly after the opening bell. Spot silver was likewise unchanged, hovering just above $17.15/oz. Platinum rose 0.85% to $950/oz while palladium slipped $5 (-0.45%) […]

Spot Gold Hits 3-Month High

January 2nd, 2018 by

The precious metals are beginning the new year with technical tailwinds at their backs. After 2017 was dominated by a rising stock market and the emergence of cryptocurrencies, many traders appear to be seeking safer ground to start 2018. Spot gold jumped $9 (+0.75%) to $1,312/oz on Tuesday, better than a three-month high. Spot silver […]

Gold Reclaims $1,300/oz Price Level

December 29th, 2017 by

Spot gold continued its rally on Friday, adding better than $7 per ounce (+0.6%) to trade north of $1,300/oz, the first time the yellow metal has reached this milestone since the middle of October. Today is not only the last session of the month but also the last trading day of the year. Expect some […]

Fresh One-Month High for Gold

December 28th, 2017 by

Spot gold hit another new one-month high this morning, trading up $3 to $1,290/oz. This erases all of gold’s losses from late November through December. If Thursday morning’s advance holds, it would be the seventh straight winning session for gold. Spot silver rose by 5¢ (+0.33%) to $16.72/oz, back near its levels from the end […]

Gold Price Gains On Positive Momentum

December 27th, 2017 by

The precious metals advanced again on Wednesday morning thanks to a weaker dollar and light trading volume around the markets. Spot gold was up slightly (+0.1%) to $1,284/oz, another new four-week high. Silver prices also traded at their highest in a month, gaining 7¢ (+0.45%) to $16.60/oz. Platinum slipped 0.2% to $920/oz and palladium advanced […]

american gold eagles

Precious Metals Hit 4-Week Highs After Christmas

December 26th, 2017 by

Traders and investors returned to action on Tuesday as markets in the U.S. reopened after observance of Christmas. Gold and silver futures pointed higher to their best in four weeks. Spot gold added $6 (+0.45%) to $1,280/oz, putting its year-to-date gains at a robust 13%. This is despite still losing 0.6% over the last month […]

Gold Rises While Bitcoin Plunges

December 22nd, 2017 by

Friday marked the last trading day before markets close for Christmas, so investors can expect low trading volumes in quiet pre-holiday trading. Spot gold edged up about $4 (+0.3%) to $1,270/oz, and gold futures continued to point higher. The silver price added 12¢ (+0.75%) to $16.22/oz. Platinum was also up $4 (+0.44%) to $920/oz. Meanwhile, […]

charting gold price

Gold Price Holds Steady On Thursday

December 21st, 2017 by

Thursday morning saw gold prices slip modestly lower to $1,264/oz, still near a two-week high. Spot silver lost 6¢ (-0.4%) to $16.10/oz, platinum was steady around $920/oz, and palladium advanced another 0.6% to $1,025/oz. This is close to the highest palladium has traded all year. The metal is up better than 49% this year, making […]