Blog posts tagged with 'palladium'

Obviously, gold and silver are short-term overbought from a technical perspective and perhaps somewhat overbought from a fundamental perspective.

Nonetheless, with gold and silver prices vaulting higher yesterday and gold prices forging record highs again, the bull camp retains control even without a definitively apparent bullish fundamental theme.

However, gold has forged a five-day low-to-high rally of $123 which suggests the bull camp will need some "help" from the US Federal Reserve Chairman's testimony this morning...[MORE]

Please subscribe to receive the full report via email by clicking here.

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

U.S. calendar features ADP Employment Survey, Wholesale Sales, JOLTS Job Openings, EIA Data, Beige Book.

FedSpeak due from Powell & Daly.

BoC rate announcement. Steady expected.

With both gold and silver posting higher highs overnight it is clear the bullish track from the prior three trading sessions has remained in place.

In fact, given a significant dip in eurozone producer prices of 0.9%, the prospects of an ECB rate cut in June have jumped.

Apparently, the gold and silver trade are not unnerved by the disappointing Chinese Caixin services PMI reading, but that could be the result of anticipation of a Chinese stimulus package announcement...[MORE]

Please subscribe to receive the full report via email by clicking here.

Apparently, expectations for a June US interest rate cut have returned which in turn fueled the most significant gold and silver rallies since early December.

However, the CME Fed Watch tool did not show a significant increase in the probability of a June rate cut from just below 50% early last week to only 52.8% after the close Friday.

Therefore, the gold and silver markets are anticipating the continuation of soft US and international data which has already resulted in widespread talk of eurozone, Japanese, and Canadian rate cuts in June...[MORE]

Please subscribe to receive the full report via email by clicking here.

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

U.S. calendar features FedSpeak from Harker.

In retrospect, the action in gold and silver this week has been nothing short of stellar given periodic adversity from strength in the dollar.

Furthermore, gold managed to shrug off headwinds from signs of slowing in the US and European economies especially with gold at times over the last several weeks seemingly benefiting from "hope" of a recovery in physical/industrial gold demand following a global macroeconomic euphoria wave.

Apparently, the gold trade interpreted yesterday's US PCE report result as a sign inflation was slowing which apparently keeps US rate cut hopes alive...[MORE]

Please subscribe to receive the full report via email by clicking here.