Morning Call
Friday, February 16, 2024Good morning. The precious metals are mixed in early U.S. trading.
U.S. calendar features PPI (+0.1% expected), Housing Starts, Michigan Sentiment Prelim, FedSpeak from Barr.
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Blog posts of '2024' 'February'
Zaner Daily Precious Metals Commentary
Thursday, February 15, 2024While April gold is tracking in positive territory early today and has established a key pivot point around $2005, the onus is on the bull camp to prove the market can respect even number consolidation support at $2000.
Unfortunately for the bull camp, gold ETF holdings continue to slide with year-to-date outflows of 2.8% taking place in less than 50 days.
While Indian gold imports in January increased to $1.9 billion that is probably a function of the recovery in gold prices and not necessarily from increased volume...[MORE]
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Gold near two-month low, investors eye US data for rate cut cues
Thursday, February 15, 2024Feb 15 (Reuters) - Gold prices languished near a two-month trough on Thursday as traders lowered expectations of sooner and deeper rate cuts by the Federal Reserve this year, while markets await a slew of U.S. economic data for further clarity.
Spot gold was up 0.3% at $1,997.10 per ounce, as of 1158 GMT, but hovered near its lowest since Dec. 13 hit on Wednesday. U.S. gold futures rose 0.3% to $2,009.20...[LINK]
Morning Call
Thursday, February 15, 2024Good morning. The precious metals are higher in early U.S. trading.
U.S. calendar features Retail Sales (-0.1% expected), Philly Fed Index, Empire State Index, Import/Export Price Index, Initial Jobless Claims, Industrial Production, NAHB Housing Mkt Index, TIC Data.
FedSpeak due from Waller and Bostic.
Zaner Daily Precious Metals Commentary
Wednesday, February 14, 2024While the magnitude of yesterday's US CPI upside surprise was not significant, the markets were clearly undermined by another US data point which appears to push back US rate cut timing.
Today the markets will have a pause from US inflation news with several Fed speeches potentially providing some fireworks.
However, the US dollar is sitting right on the spike-up highs from yesterday early today leaving the currency influence on gold and silver bearish...[MORE]
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Gold hovers below key $2,000 mark as markets tone down rate-cut bets
Wednesday, February 14, 2024Feb 14 (Reuters) - Gold prices extended declines on Wednesday, languishing below the key $2,000-per-ounce mark, pressured by a stronger-than-expected U.S. inflation report that caused investors to pull back on bets of rate cuts by the Federal Reserve.
Spot gold fell 0.1% to $1,991.10 per ounce as of 1130 GMT — its lowest since Dec. 13. Bullion fell about 1.4% on Tuesday, its biggest daily loss since Dec. 4...[LINK]
Morning Call
Wednesday, February 14, 2024Good morning. The precious metals are mixed in early U.S. trading.
U.S. calendar features MBA Mortgage Applications, EIA Data.
FedSpeak due from Goolsbee & Barr.
Gold ekes out gains with focus on US inflation data
Tuesday, February 13, 2024Feb 13 (Reuters) - Gold prices edged higher on Tuesday as caution set in ahead of a U.S. inflation report that could offer more clues on the timing of widely expected interest rate cuts from the Federal Reserve.
Spot gold was up 0.4% at $2,027.99 an ounce by 1145 GMT, having briefly slipped to a more than two-week low of $2,011.72 in the previous session...[LINK]
Morning Call
Tuesday, February 13, 2024Good morning. The precious metals are higher in early U.S. trading.
U.S. calendar features NFIB Small Business Optimism Index, CPI (+0.2% expected).
Zaner Daily Precious Metals Commentary
Monday, February 12, 2024While gold and silver finished Friday with moderate losses for the day and week, they are starting with silver rallying to a one-week high and gold under pressure.
Platinum and palladium have rebounded off their 2024 lows. However, further gains are being held in check by ongoing Asian and European auto catalyst demand concerns.
Although they started a 1-week Lunar New Year holiday on Friday, China's economic concerns are not going away anytime soon, and they continue to weigh on the near-term demand outlook for both precious metals...[MORE]
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