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Gold $2,778.12 $5.39 0.19% Silver $34.22 $(0.22) -0.64% Platinum $1,049.99 $2.86 0.27% Palladium $1,211.60 $6.81 0.57%
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Blog posts tagged with 'palladium'

Morning Metals Call
Thursday, May 30, 2024
Good morning. The precious metals are lower in early U.S. trading.
 
Gold Chart
 
U.S. calendar features Advance Indicators, Q1 GDP 2nd Report, Initial Claims, Pending Home Sales Index, EIA Data.
 
FedSpeak from Williams & Logan.
Zaner Daily Precious Metals Commentary
Wednesday, May 29, 2024

We expect gold and silver to continue to chop roughly in line with yesterday's price action until the first of two significant US inflation reports is released tomorrow.

However, bullish fundamental information justifies silver's recent relative strength versus gold as reports of heavy Chinese buying of international silver (because domestic prices are significantly higher) suggest a major demand source has emerged.

The bullish theme behind significant Chinese interest is the surging demand for silver in solar energy applications. Along those lines Shanghai spot silver prices last week were 2% above the 13% Chinese import tax or 15% above international silver prices...[MORE]

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Morning Metals Call
Wednesday, May 29, 2024
Good morning. The precious metals are lower in early U.S. trading.
 
Gold Chart
 
U.S. calendar features Mortgage Aps, Richmond Fed Index, Beige Book.
 
FedSpeak due from Williams & Bostic.
Zaner Daily Precious Metals Commentary
Tuesday, May 28, 2024

While gold and silver are tracking higher early today the charts still favor the bear camp from last week's sharp range-down failures which in turn should make the Thursday/Friday lows key pivot point pricing to start the new trading week.

Key pivot point pricing in June gold begins at $2328.10 and at $30.265 in July silver.

Adding to the negative track in gold and silver prices early today is news that Chinese April net gold imports plunged 38% from March which we think was largely the result of historically high pricing...[MORE]

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Morning Metals Call
Tuesday, May 28, 2024

Good morning. The precious metals are lower in early U.S. trading.

Gold Chart

U.S. calendar features Case-Shiller Home Price Index, FHFA Home Price Index, Consumer Confidence, Dallas Fed Index, M2.

FedSpeak due from Mester, Bowman, & Kashkari.

Zaner Daily Precious Metals Commentary
Friday, May 24, 2024

What goes up aggressively and makes a chain of new record highs holds the prospect of aggressive corrective action. In fact, if gold finishes the week at current levels, it will have dropped the most in a single week since last October!

In retrospect, the pendulum shift on US interest rate policy back toward the hawks, combined with a higher high in the dollar and a pulse higher in treasury yields, provides a bearish environment for gold and silver into the end of the week.

However, if recent gains were partially the result of flight to quality issues, we suspect some bargain-hunting buying will surface before the close today, but perhaps after additional declines...[MORE]

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Morning Metals Call
Friday, May 24, 2024
Good morning. The precious metals are mostly higher in early U.S. trading.
 
Gold Chart
 
U.S. calendar features Durable Orders, Michigan Sentiment Final, FedSpeak from Waller.
Hedging can protect holders of physical precious metals inventory from adverse market moves
Thursday, May 23, 2024

Gold has plunged more than 4% from Monday's record high at $2449.34. The yellow metal fell $42.57 on Wednesday and is off another $35 today.

Gold Chart 

Silver has tumbled nearly 7% from Tuesday's 11-year high at $32.38!

Silver Chart

Losses are mounting as markets unwind rate cut expectations in the wake of Wednesday's release of the minutes from the last FOMC meeting.

Short-term losses like this can have a significant detrimental impact on bullion dealers, mints, and refiners that hold physical precious metals inventory.

The Tornado Hedging Platform by Zaner allows our clients to protect their inventory against such adverse market movements.

"As a precious metals dealer that holds a decent amount of physical inventory, if I am not hedged, on big down days in precious metals, I could lose a whole month in profits." – Tornado Hedging Client

Please visit www.TornadoBullion.com for more information.

Zaner Daily Precious Metals Commentary
Thursday, May 23, 2024

While the declines yesterday in gold and silver were blamed on fear of hawkish statements from the last Fed meeting minutes, the declines this morning are the result of a realization of hawkish news from the actual release.

Apparently, the Fed had a debate on whether policy was tight enough to bring inflation down as quickly as was hoped for and some policymakers were disappointed in the economic information they have seen since the March meeting.

Therefore, a minimal higher high for the move in the US dollar adds to the liquidation bias in markets that were significantly overdone into the recent highs...[MORE]

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Morning Metals Call
Thursday, May 23, 2024
Good morning. The precious metals are lower in early U.S. trading.
 
Gold Chart
 
U.S. calendar features Initial Jobless Claims, Chicago Fed National Activity Index, Flash PMIs, New Home Sales, FedSpeak from Bostic.