Morning Call
Monday, July 24, 2023Good morning. The precious metals are mixed in early U.S. trading.
U.S. calendar features Chicago Fed National Activity Index, S&P Global PMIs (flash).
RSS
Blog posts tagged with 'gold'
Gold backs down as Fed pause doubts lift US dollar
Friday, July 21, 2023July 21 (Reuters) - Gold prices slipped on Friday as the dollar rebounded to its highest in more than a week after positive weekly U.S. jobs data renewed uncertainty over whether the Federal Reserve will stop raising interest rates after an expected increase next week.
Spot gold slipped 0.4% to $1,962.69 per ounce by 1119 GMT, but was set for a 0.4% rise this week. U.S. gold futures dropped 0.3% to $1,965...[LINK]
Morning Call
Friday, July 21, 2023Good morning. The precious metals are mostly higher in early U.S. trading.
U.S. calendar is empty today.
Market looks ahead to next week's FOMC meeting.
Gold hits 2-month high as dollar struggles on Fed pause views
Thursday, July 20, 2023July 20 (Reuters) - Gold prices advanced to their highest in about two months on Thursday, driven by U.S. dollar’s weakness and growing expectations that the Federal Reserve would conclude its aggressive rate-hiking cycle at its meeting next week.
Spot gold gained 0.2% to $1,980.59 per ounce by 1058 GMT, close to its highest since May 17 at $1,987.39. U.S. gold futures also rose 0.2% to $1,984.10 per ounce...[LINK]
Morning Call
Thursday, July 20, 2023Good morning. The #preciousmetals are mixed in early U.S. trading.
U.S. calendar features Philly Fed Index, Initial Jobless Claims, Leading Indicators, Existing Home Sales.
Zaner Daily Precious Metals Commentary
Wednesday, July 19, 2023At least initially it does not appear that softer price measures from the UK and Europe have had an impact on gold and silver prices.
Seeing softer inflation on the other side of the Atlantic helps tamp down the threat of higher rates abroad. In fact, overnight an ECB council member known as a hawk indicated monetary tightening beyond its next meeting is anything but a guarantee!
However, the gold market certainly got a significant lift from a 2nd straight day of disappointing US scheduled data yesterday which in turn apparently reduced expectations for US rate hikes beyond next week...[MORE]
Please subscribe to receive the full report via email by clicking here.
Gold near 8-week high on bets US rate hikes nearly over
Wednesday, July 19, 2023July 19 (Reuters) - Gold prices on Wednesday were near eight-week highs reached in the previous session after economic data raised expectations that the U.S. Federal Reserve is near the end of its interest rate hiking.
Spot gold eased 0.2% at $1,973.69 per ounce by 1200 GMT, slightly pressured as the U.S. dollar bounced back from 15-month lows. U.S. gold futures also fell 0.2% to $1,977.30 per ounce...[LINK]
Morning Call
Wednesday, July 19, 2023Good morning. The precious metals are mostly lower in early U.S. trading.
U.S. calendar features Housing Starts, EIA Data.
Zaner Daily Precious Metals Commentary
Tuesday, July 18, 2023While the dollar neared a downside breakout point overnight of 99.26, without a new low for the move, this morning's early gains in gold and silver could be difficult to extend.
However, gold ETF holdings saw a 2nd straight day of inflows with 49,017 ounces added yesterday. On the other hand, silver ETF holdings saw 2.1 million ounces flow out, bringing this year's net sales to 11.7 million ounces.
Gold and silver are likely undermined by a generally negative ongoing global view toward the Chinese economy with the Chinese government failing to hit the right notes on stimulus applications...[MORE]
Please subscribe to receive the full report via email by clicking here.
Gold climbs as dollar dips; retail sales data in focus
Tuesday, July 18, 2023July 18 (Reuters) - Gold prices rose on Tuesday supported by a softer dollar, while investors awaited U.S. retail sales data that could have a bearing on the Federal Reserve’s policy outlook as inflation shows signs of cooling.
Spot gold rose 0.4% to $1,962.19 per ounce by 1144 GMT. U.S. gold futures advanced 0.5% to $1,965.90...[LINK]