Author Archives: Everett Millman

Steady Sailing for Gold Price Amid Earnings Season

April 16th, 2018 by

The gold price opened just above unchanged (+0.3%) at $1,349/oz on Monday. Investor focus was trained squarely on corporate earnings from the first quarter.

Platinum was likewise slightly higher at $933/oz.

The other metals fared better. Spot silver was up 0.65% (+11¢) to $16.73/oz, its highest in close to two months.

Palladium rallied another 1.6% (+$16) to approach $1,000/oz for the first time in about a month. Last week, palladium advanced 9.6%.

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bolivar

Another Fiat Currency Bites the Dust

April 15th, 2018 by

To slightly amend a quote from the classic film Fight Club, “On a long enough timeline, the survival rate of every fiat currency is zero.”

The deteriorating economic situation in Venezuela has added the country’s currency, the bolivar, to this ever-growing list.

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Inflation Data, Syria Tensions Send Gold Higher

April 11th, 2018 by

Spot gold jumped on Wednesday, rallying nearly 1% (+$13) to $1,352/oz, a two-week high.

Most analysts attributed the rally to rising tensions in Syria and the latest inflation data in the U.S.

Each of the other precious metals added about 0.9%. Spot silver gained 16¢ to trade above $16.70/oz. Platinum and palladium were roughly trading at $935/oz and $955/oz, respectively.

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Gold Price Holds Around $1,330 as Payrolls Slump

April 6th, 2018 by

Source: Bloomberg

A particularly disappointing employment report for March sent stocks sharply lower on Friday morning. The precious metals were modestly higher.

Spot gold was up modestly (+0.4%) to $1,331/oz. Spot silver rose 0.25% (+4¢) to about $16.40/oz.

Platinum and palladium were mixed, trading at $914/oz and $900/oz, respectively. It’s the first time platinum has traded above the palladium price since August.

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stock market flash crash

Stocks Plunge on Trade Yet Again, Gold Rebounds

April 4th, 2018 by

Seemingly escalating global trade tensions sent financial markets into fresh turmoil on Wednesday.

Gold benefited from the flight to safe havens. Spot gold rebounded 0.6% (+$8) to $1,340/oz. It traded as high as $1,347 earlier in the session.

Concerns about how trade skirmishes could negatively effect industry dampened prices for silver and the PGMs, however.

Silver slipped 7¢ (-0.45%) to $16.32/oz. Platinum and palladium were both off sharply, trading in parity at $913/oz.

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