Category Archives: Gold Market

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Gold Prices Steady Ahead of Trump Speech

February 28th, 2017 by

The precious metals repeated their morning performance from yesterday on Tuesday, steadily recovering from overnight losses to push gold prices right back at $1,257 per ounce. The yellow metal was up more than $4 after giving up the similar gains the previous day at the end of Monday’s session. Spot silver added 16¢ an ounce (+0.9%) […]

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Precious Metals Rise, Stocks Dip

February 27th, 2017 by

Equities in the U.S. and around global exchanges traded in negative territory on Monday, apparently carrying over the downward bias shown on Friday. The precious metals, meanwhile, were all higher in early trading, led by the Platinum Group Metals. Spot gold was slightly stronger, poking 0.15% above unchanged to $1,258/oz. Silver prices hit a 4-and-½-month […]

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Gold Price Eases From 14-Week High

February 24th, 2017 by

The precious metals looked to end the week on a positive note after continuing to rally the past several trading sessions. Spot gold briefly touched as high as $1,260/oz overnight before moving back to about $1,255/oz due to some profit-taking this morning. The yellow metal is still trading about $5 per ounce higher in New […]

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Gold Spikes As Stops Triggered

February 23rd, 2017 by

Gold prices spiked to 3-1/2 month highs this morning, touching the important $1,250/oz level as successive buy stops were triggered. Silver is also trading at a 3-1/2 month high.  The dollar was down three-tenths of a percent, as a jump in first-time jobless claims was seen as a bearish factor for the Federal Reserve’s next […]

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Precious Metal Prices Still Steady

February 22nd, 2017 by

The gold price opened mostly flat on Wednesday as the precious metals continue to defy market expectations for a downturn. Spot gold was trading around $1,236/oz early in the session while spot silver gained about 2 cents, remaining just below $18/oz.

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Gold Price Slips On Strong Dollar

February 21st, 2017 by

The U.S. dollar is once again resuming its dominance, knocking the precious metals lower during early trading on Tuesday. With the U.S. dollar trending more than 0.5% higher against a basket of its peer currencies, the spot market for gold and silver saw strong selling this morning. Spot gold was down about $6 an ounce […]

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Precious Metals Nudge Higher

February 20th, 2017 by

Monday morning saw the precious metals continue to steadily track higher, catching the markets a bit off guard. Given the fact that interest rates have been forecast higher, most observers have been expecting a stronger dollar to knock gold prices lower. However, spot gold opened about $3 higher to $1,238 per ounce around 9:30 am in […]

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Gold Holds Highs As Stocks Falter

February 17th, 2017 by

Gold is trading at its Thursday highs this morning, bucking headwinds from a moderately higher dollar. Stocks opened lower this morning, as the market seems exhausted from its recent record-setting rally. The precious metals are seeing some safe-haven demand out of Europe today, as the possibility of the far-right politician Marine Le Pen’s chances of winning […]

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Gold Price Climbs Again

February 16th, 2017 by

The precious metals were all trading in positive territory on Thursday morning even as the stock markets have been rallying this week. Hawkish comments from Fed Chair Janet Yellen have also placed downward pressure on gold, but that hasn’t stopped the yellow metal from stacking up yet another trading day in the green. Spot gold […]

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Gold Pulled Down By Economic Data

February 15th, 2017 by

Precious metals ran into selling pressure this morning in New York, as a raft of economic reports surprised to the upside. Faced with evidence of a robust economy on several fronts, markets have doubled the odds of a March rate hike by the Fed. This sent the dollar and bond yields higher while weighing on […]

Fed Chair Janet Yellen testifying before Congress (photo: Federal Reserve)

Yellen Erases Gold’s Gains

February 14th, 2017 by

Gold prices are volatile this morning, as safe haven demand duels with this morning’s Congressional testimony of Federal Reserve head Janet Yellen. Spot gold was up as much as $10 an ounce in reaction to last night’s sudden resignation of President Trump’s National Security Advisor over his contacts with Russian officials before and after Trump’s […]

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Precious Metals Down While Stocks Rally

February 13th, 2017 by

Gold, silver, and the precious metals were all down modestly when markets opened in New York on Monday. Global equities rallied virtually across the board, with stocks in Europe trading solidly in the green: Germany’s DAX rose 1.1%, France’s CAC 40 gained 1.5%, and the EURO STOXX 50 added 1.2%. Asian shares closed up overnight, with the […]

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Gold Drops As Trump Trade Lifts Stocks

February 10th, 2017 by

Gold prices continue to be pressured this morning, as equities continue to soar after President Trump announced he would soon unveil a “phenomenal” tax cut plan, which it is assumed will included his long-awaited corporate tax cuts. Precious metals received a reprieve at 10 am EST, however, when US consumer sentiment unexpectedly dropped from a […]

photo: Gage Skidmore

Gold Drops On Trump’s Tax Promise

February 9th, 2017 by

Donald Trump did this morning what rising stocks and lower jobless numbers could not. Bargain hunters in the gold market were buying on any dips caused by traders booking recent profits, keeping prices near yesterday’s three-month high. Market fortunes reversed instantly, however, after President Trump made a surprise announcement that he would be unveiling a […]

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Gold Breaks $1,240 As Dollar Fades

February 8th, 2017 by

Gold is sharply higher this morning in New York, hitting a three-month high as it pulls the other three big precious metals along with it. Gold prices began building during early trading in London, despite a rally in the US dollar. The DXY dollar index began falling before the New York open, putting further support […]

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Precious Metals Slip On Dollar Strength

February 7th, 2017 by

Gold and silver joined the other precious metals by falling into negative territory when markets opened in New York. A firmer dollar helped push gold prices lower, shedding about $5 per ounce to trade just above $1,230/oz. Spot silver only lost 2¢ (-0.11%), holding near $17.70/oz. Platinum and palladium each lost about 0.6% in early […]

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Gold Price Hits 2.5-Month High

February 6th, 2017 by

The precious metals opened solidly in the green in early trading on Monday, pushing spot gold up to nearly $1,230/oz, already its best intraday high in ten weeks. The rally was mostly attributed to safe-haven buying and investors following technical indicators in gold’s favor. Spot silver added about 12¢ per ounce to trade near $17.70/oz.

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Gold Shrugs Off Payrolls

February 3rd, 2017 by

Gold prices seem to be ignoring a better that expected non-farm payrolls report this morning, actually gaining modestly after its release. Looking under the hood past the headline numbers, and noting negative revisions for prior months exposes a payrolls report that famous “Bond King” Bill Gross describes as “schizophrenic.”

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Gold Gains On Fed, Dollar

February 2nd, 2017 by

Gold prices are solidly higher this morning, after finishing flat on Wednesday. Spot gold hit a 2-1/2 month high of $1,226 an ounce overnight in London, reaching its highest point since November. Today’s double digit gains has brought out some profit-taking, as expected, but buyers are showing resilience and keeping prices above $1,220/oz. Analysts are […]

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Gold Relinquishes Gains on Jobs Data

February 1st, 2017 by

Spot gold has given up less than half of yesterday’s gains this morning, reacting to a better than expected private payrolls report. Gold is trading near yesterday’s low of $1,203 an ounce. April gold futures are down a similar amount. Spot silver is modestly lower near $17.50/oz after spiking 2.75% yesterday.