Friday not only marked the end of the week of the week but also the last trading day of the month. The precious metals were steady early in the session, although many experts expected more volatility given the expiration of various options and a disappointing report of how much the U.S. economy expanded during the […]
Precious metals are lower this morning, despite the European Central Bank and the Bank of Japan both keeping interest rates in negative territory, and showing no signs of tapering their stimulus measures. Major bearish factors today are a sudden jump in the dollar, as well as stock markets opening higher after yesterday’s skittishness over reports […]
The financial markets were largely quiet at Wednesday’s open as investors eagerly awaited the scheduled release of President Trump’s plans for a tax overhaul later today. Most expect the plans to be quite favorable to the public, a scenario which is not likely to drive fresh investment into the gold market. Spot gold was just […]
Both gold and silver traded lower as the session opened Tuesday, with spot gold losing about $10 per ounce to $1,266/oz. The silver price was off 25¢ (-1.4%) to trade around $17.70/oz. Platinum also followed its cousins lower, losing more than 0.7%. Meanwhile, palladium was flat at $800/oz.
The focus of the markets on Monday was the results from the preliminary round of France’s presidential election. The polls showed that Emmanuel Macron, who is seen as the moderate or centrist candidate, finished first in the pack with 24% of the vote. Macron came in ahead of right-wing National Front candidate Marine Le Pen, […]
With unrest and uncertainty characterizing the global climate heading into the first round of France’s presidential elections this weekend, gold prices moved marginally higher in early trading on Friday. Spot gold traded at $1,283/oz around 10 am EST in New York while silver prices were actually 15¢ per ounce lower at $17.85/oz.
Gold prices are trending just below unchanged this morning, after dropping $9.40 yesterday to return prices to the $1,279 range. Geopolitical tensions over North Korea and a surprise call for elections in the UK helped gold test the $1,290 mark again earlier this week. Gold bulls were unable to push prices beyond that resistance level, […]
Precious metals are reversing their recent trends this morning, with gold giving back gains notched yesterday, after hitting a 5-1/2 month high. The platinum group metals have finally seen some bargain hunting, as both platinum and palladium are up around a half-percent in early New York trading. Silver is the odd man out this morning, […]
Gold prices are trading nearly unchanged from yesterday’s close this morning, after rising as high as $1297 an ounce early Monday. That safe haven spike triggered some profit taking, which brought spot gold down to close at $1,284 even. Silver prices followed much the same trajectory, and are trending marginally lower than yesterday’s close.
The precious metals continued to benefit from rising tensions around the globe, particularly with North Korea. The gold price traded as high as $1,295 an ounce overnight before traders took some profits. When markets opened in New York on Monday morning, spot gold was down just $1 per ounce to $1,287/oz. Spot silver was also off slightly, […]
There was no trading in the gold markets in the U.S., the U.K. (the world’s two biggest markets for gold), and Shanghai on Friday. In the West, this was in observance of the Good Friday holiday that precedes the Easter weekend. Accordingly, spot gold was at $1,287/oz and spot silver was around $18.60/oz, where they […]
Early morning gains during Thursday’s trading session propelled spot gold to a fresh five-month high. The yellow metal was up slightly, about 0.1%, to $1,286/oz, its best intraday mark since November 10th. This followed a 1% advance on Wednesday. For some perspective on the level of volatility in gold prices around that date, gold’s previous […]
Gold prices are holding on to yesterday’s $20 in gains this morning, as tensions on the Korean peninsula ratchet ever-higher. North Korean dictator Kim Jung Un and US president Donald Trump continue to taunt each other in press releases and on Twitter, as a US Navy carrier battle group heads to the eastern coast of […]
The gold price broke through an important resistance level (its 200-day moving average) on Tuesday, crossing above the $1,260-per-ounce threshold for the first time since November. This represents a five-month high for the yellow metal, which added 0.65% on Tuesday to trade around $1,264/oz. Spot silver likewise pared its previous losses, advancing 0.75% to trade […]
Financial markets were troubled by news overnight of U.S. military response to the alleged use of chemical weapons by the Assad regime in Syria. Friday morning’s nonfarm payrolls also offered a disappointing picture of the American economy, further driving safe-haven buying of precious metals. After jumping above $1,270/oz at one point when markets opened this […]
Although each of the precious metals were treading negative territory by 9:30 am in New York on Thursday, gold and silver held onto most of yesterday’s late-session gains. This was surprising given the release of an encouraging weekly jobless claims report from the Labor Department this morning. Spot gold still traded above $1,250/oz despite losing 0.25% […]
The precious metals bore the brunt of traders’ wrath on Wednesday, losing ground due to profit-taking and renewed exuberance for equities. The main driver of this momentum shift was the release of yet another exceptionally good jobs report from ADP this morning. In response, spot gold slid 0.75% to hold right at $1,246/oz by 10 […]
Tuesday morning saw an early rally for the gold price that briefly sent the market above $1,260 per ounce before slipping back to about $1,257/oz, which was still 0.3% higher than where it started the session. Spot silver was roughly 0.4% higher to trade right at $18.30/oz.
Indian gold demand is sharply higher right now, due to Hindu New Year festivals and the upcoming spring wedding season. A stronger rupee, which has gained 4.8% against the dollar so far this year, has helped moderate gold prices and stoke demand, and a good monsoon season last year has given rural Indians the money […]
Barring some unforeseen “April Fools” revelation from over the weekend, gold has charted a steady path to close March and begin April. The gold price has held ground at almost exactly where it began last week, hovering just below $1,250/oz. Spot gold was trading around $1,247/oz on Monday morning, largely flat. Meanwhile, spot silver was down […]