With the dollar trending slightly lower on Friday morning, spot gold opened above $1,256 per ounce, adding 0.5% in early trading. Spot silver rose by an even wider margin, gaining 1.15% to trade above $16.70/oz.
Thursday saw some choppy action for the gold market after the precious metals were again trending higher following last session’s gains. After undulating in early morning trading, spot gold is back 0.5% above unchanged around $1,253 per ounce. Spot silver was also higher, adding to 0.85% to approach $16.60/oz.
The downtrend for the precious metals continued into Wednesday’s trading session. The gold price was essentially flat at the opening bell at $1,243/oz after losing some ground overnight. The yellow metal looks to avoid its sixth straight trading day of losses. Silver prices were down 0.5%, or 7¢ lower, to trade below $16.40/oz. Platinum was slightly […]
Gold prices are near unchanged from yesterday’s spot close, as markets seek direction from the Federal Reserve and further losses in crude oil offset a rebound in tech stocks. Precious metals in general are quiet, except for palladium, which is seeing modest gains. Both the dollar and bond yields are treading water this morning as […]
Precious metals are down across the board this morning, as markets continue to react to the unexpectedly bullish tone of the Federal Reserve regarding weakening inflation. What some are calling an overly optimistic outlook has been the main driver of gold prices the last few days. Silver prices are also weaker this morning, after finishing […]
Most markets, including the precious metals, were relatively quiet on Friday morning. Spot gold moved ever so slightly into positive territory, trading close to a three-week low at about $1,255/oz. The Platinum Group Metals were also flat in early trading, while spot silver similarly moved just 6¢ this morning, falling to $16.67/oz.
Thursday morning saw the precious metals tumble in response to yesterday’s interest-rate increase by the Federal Reserve. Spot gold gave up nearly all of its ground on Wednesday afternoon after the Fed decided to raise interest rates by 25 basis points to the 1.00%-1.25% range.
Gold prices spiked when markets opened in New York on Wednesday, mainly because of the panic generated by an assassination attempt of the Majority Whip in Congress, Louisiana Representative Steve Scalise at a friendly baseball game among lawmakers in Washington, D.C. Scalise, a Republican, is said to be “badly injured” but will “fully recover,” according […]
With the two-day meeting of the Fed Open Market Committee (FOMC) kicking off on Tuesday, there was no particularly strong impetus for the precious metals to move very dramatically. Spot gold opened the morning down $5 per ounce at $1,261/oz. The Platinum Group Metals (PGMs) each lost over 1.5% while spot silver tumbled 20¢ (-1.15%) […]
With attention squarely on “Fed Week” for June in the U.S., the precious metal prices were fairly quiet during early trading on Monday morning. Spot gold was virtually flat this morning, gaining about $1.10 an ounce to trade around $1,267/oz. Meanwhile, spot silver was down 11¢ to hover just above $17/oz. Platinum and palladium went […]
As the dust cleared from a busy Thursday, the gold price opened about $12 per ounce lower, or down almost 1%, to trade at $1,265.50/oz on Friday morning. Spot silver fell more than 1.2%, losing 22¢ to $17.20/oz. Platinum prices were actually flat around $940/oz, and palladium moved the opposite direction for the second straight […]
The precious metals were mixed on Thursday morning as markets anticipated the major news stories expected to break this afternoon: the result of the U.K. parliamentary elections, the outcome of today’s meeting of the European Central Bank (ECB), and ousted FBI Director James Comey’s much-awaited testimony before the U.S. Congress about the ongoing investigation into […]
On Wednesday morning, gold was mostly flat, down about $2 per ounce to $1,292/oz. The precious metals didn’t show any strong reaction to the news of a “lone wolf” incident in France and a terrorist attack on Iran’s parliament. Spot silver was similarly down just 2¢ to $17.66/oz. The Platinum Group Metals were actually deeper in the red, down […]
After trading virtually flat on Monday, the precious metals were each solidly higher on Tuesday morning as prices approached key technical levels. Spot gold was 1% higher when markets opened in New York this morning, crossing above $1,292/oz. This is not far off from gold’s 2017 high of $1,297.40/oz, which was hit back on April […]
Gold prices are trading at six-week highs this morning in New York. Precious metals prices are all higher, extending big gains seen on Friday. Safe haven demand is supporting gold, as Saudi Arabia, Egypt and the UAE have all suddenly cut off all contact with the country of Qatar.
Mixed reactions to the latest employment data contained in the nonfarm payrolls (NFP) report this morning helped boost the precious metals as the dollar slipped lower. Spot gold traded above $1,273/oz when markets in New York opened this morning, while spot silver was up 10¢ per ounce to $17.37/oz.
The main economic news that markets were digesting on Thursday morning was the unexpected jump in weekly jobless claims, as reported by the Labor Department. Overall, the reaction was more positive than negative, with stocks in the U.S. rising at the opening bell just behind the pace of their European counterparts. The precious metals were […]
A weaker U.S. dollar and positive momentum from futures traders are driving the precious metal prices higher on Wednesday morning. Spot gold climbed from $1,260/oz overnight to as high as $1,268/oz by 10:15 am EST. Both platinum (+0.5%) and palladium (+1.5%) were higher, yet spot silver was actually down 0.35% to $17.30/oz.
Global markets were somewhat sleepy after the long Memorial Day weekend, with no real dramatic action as trading desks reopened for business on Tuesday. A stronger dollar drove gold prices modestly slight, as spot gold lost almost $5 per ounce this morning to trade at $1,262/oz. Spot silver was down 5¢ per ounce (-0.25%) to […]
In defiance of a number of encouraging economic data points coming out on Friday, the gold price held onto its overnight gains, trading about $11 per ounce higher this morning around $1,267/oz. Spot silver gained more than 20¢ an ounce to $17.33/oz, while platinum and palladium were each up well over 1%.