Spot gold was choppy but traded basically sideways on Monday, steadying around $1,347/oz. The yellow metal leaked lower in overnight trading. With the rally above $1,350 late last week, some gold traders are likely taking profits. U.S. bond and stock markets are closed today for President’s Day. Commercial banks will be off for the holiday, […]
The financial markets seemed to be taking a deep breath on Friday. Gold prices held just below unchanged at $1,351/oz (-0.2%) as the Chinese Lunar New Year celebration begins. Exchanges in Shanghai will remain closed for the holiday through next Thursday. The U.S. stock market also saw sleepy opening action. Wall St and gold are […]
The precious metals surged sharply late on Wednesday’s trading session. Over the course of less than two days, gold has advanced roughly 2.67%. Spot gold stayed above $1,350 an ounce this morning, adding 0.15% to $1,352.50/oz.
Stocks looked poised to snap their three-day rally on Wednesday as data from the Labor Department suggested inflation is accelerating. Gold futures were down sharply before the opening bell in New York. Yet spot gold recovered to $1,335/oz (+0.45%) in early trading. Spot silver advanced 6¢ (+0.33%) to $16.61/oz. Platinum and palladium were both higher […]
Precious metals gave back modest overnight gains early this morning, in the wake of a report that small business optimism in the US rose to an all-time high in January. Markets reversed later with spot gold and spot silver rebounding to near daily highs. The dollar is trending softer, falling back below 90 in the […]
The return of volatility to the financial markets is beginning to leave the direction of the precious metals uncertain. Spot gold traded as high as $1,324/oz overnight but fell sharply before this morning’s opening bell. The yellow metal recovered to about $1,322 per ounce on Monday, up $6.50 (+0.5%). Meantime, spot silver added 19¢ (+1.15%) […]
Gold and silver are mostly steady, though lower, amid yet another stock meltdown in the span of a week. Spot gold slipped $4 (-0.3%) to $1,314/oz on Friday. Spot silver was down 10¢ (-0.6%), trading at $16.30/oz. Platinum dipped $6 per ounce (-0.6%) to $964/oz. It held above palladium, which was flat at $952/oz.
Gold was down again as markets opened in New York on Thursday. Spot gold slipped 0.3% to $1,314/oz, a five-week low. The silver price went the other direction, adding 3¢ (+0.2%) to return to $16.37/oz
A late-afternoon rebound for U.S. stocks on Tuesday gripped everyone’s attention while the precious metal prices continued to lose momentum. Gold lost 1.2% by yesterday’s close but gold prices held just 0.15% below unchanged at $1,321/oz on Wednesday.
Although stocks around the world struggled to rebound from Monday’s meltdown, the precious metals dipped slightly lower on Tuesday morning, as well. Spot gold lost about $8 (-0.65%) at the opening bell, but the yellow metal is holding above $1,330/oz. The silver price traded mostly flat at $16.65/oz. Meanwhile, platinum slipped 0.2% (-$2) to $987/oz. […]
The precious metals were up slightly Monday amid the biggest downturn for stocks since the Great Recession. Spot gold added 0.15% to $1,334/oz this morning while spot silver jumped 1.45% to $16.82/oz.
Gold prices were sharply lower following a better-than-expected nonfarm payrolls report for January. The yellow metal fell to $1,330/oz, down 1.4% (-$19). The downturn was even bigger for silver. Spot silver lost 2.85% to $16.70/oz, down 50¢ per ounce.
Thursday morning saw spot gold slip 0.3% (-$4) to just above $1,341/oz. Many traders and investors who increased their allocation of gold at the beginning of the year are taking profits off the table. This may be related to short-covering due to recent losses in stocks and bonds. Spot silver tumbled 17¢ (-0.95%) to $17.14/oz, […]
Spot gold was off its session highs on Wednesday after a strong jobs report. The yellow metal still traded about $5 higher to $1,343/oz. We’re seeing the telltale signs of a consolidation pattern: The precious metals are pushed lower overnight only to rebound back to where they started the next morning. Accordingly, the silver price […]
The gold price opened $4 higher (+0.3%) to $1,344/oz on Tuesday. This was partly due to the dollar returning to its downward path. The DXY index was down 0.3% to 89.0 this morning. Silver prices added 7¢ (+0.4%) to trade at about $17.20/oz. Platinum was mostly flat at $1,000/oz while palladium lost another $16 to […]
Spot gold lost about $6 (-0.5%) to $1,343/oz on Monday. The movement is largely attributed to profit-taking and a rebound for the U.S. dollar. Meanwhile, the silver price tumbled 1.1% (-20¢) to trade at $17.19/oz. Silver is typically more volatile than gold. This follows the sudden pullback for the precious metals last week after President Trump […]
The gold price fell sharply on Thursday afternoon following comments by President Trump about supporting a strong dollar. Profit-taking also had an impact on the precious metals as COMEX gold futures tumbled 1% and silver futures lost 1.5%. Spot gold still opened about 0.4% higher on Friday, just shy of $1,353/oz.
Another morning of losses for the U.S. dollar helped briefly lift gold prices to a two-year high on Thursday. Spot gold approached $1,362/oz in early trading, surpassing its 2017 high of $1,357. However, gold quickly fell back to unchanged at $1,357/oz. The silver price took a breather, trading 0.25% lower (-5¢) at $17.50/oz after a […]
The dollar plunged on Wednesday following comments about the benefits of a weaker currency by U.S. officials at the World Economic Forum in Davos. This lifted the prices of precious metals and most other commodities sharply. Gold prices shot up by $12 per ounce (+0.9%) to trade above $1,350/oz for the first time since September. […]
The gold price was unchanged again on Tuesday morning, trading at $1,333/oz. Markets were focused this morning on the policy announcement by the Bank of Japan and the continued flow of corporate earnings. It’s an encouraging sign that, even in the absence of strong safe-haven demand, gold has held steady in the face of the […]