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Gold $2,787.46 $1.06 0.04% Silver $33.79 Platinum $1,013.62 $1.81 0.18% Palladium $1,147.70 $(1.55) -0.13%
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Blog posts tagged with 'palladium'

Gold holds ground as markets look ahead for more Fed cues
Tuesday, January 23, 2024
Jan 23 (Reuters) - Gold prices were little changed on Tuesday, as investors looked forward to more U.S. economic data this week that could set the tone for the Federal Reserve's policy meeting next week.
 
Spot gold was up 0.1% at $2,023.90 per ounce by 1223 GMT. U.S. gold futures rose 0.2% to $2,026.30...[LINK]
Morning Call
Tuesday, January 23, 2024
Good morning. The precious metals are higher in early U.S. trading.
 
Quote Board
 
U.S. calendar features Richmond Fed Index, M2.
Zaner Daily Precious Metals Commentary
Monday, January 22, 2024

While the US dollar is showing some vulnerability on its charts early today, treasury yields may have temporarily peaked leaving the primary outside market influences slightly supportive of gold.

However, we see no reason to take control away from the bear camp with the hedge funds reducing their long positioning last week, another week of ETF holding declines, an overbought net spec and fund positioning, a residual negative global commodity market environment, and perhaps most importantly from growing economic concerns in China.

With the last COT positioning report showing the net spec and fund long in gold near the highest levels since May 2022, falling trading volume and declining open interest on last week's recovery bounce, the bear camp retains control over the trend...[MORE]

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Gold prices drop as US rate-cut hopes fade
Monday, January 22, 2024
Jan 22 (Reuters) - Gold prices declined on Monday, as hopes of a March interest rate cut by the Federal Reserve faded, while traders awaited key U.S. economic data and major central bank policy meetings this week.
 
Spot gold was down 0.2% at $2,026.40 per ounce, as of 1237 GMT. U.S. gold futures were steady at $2,029.00...[LINK]
Morning Call
Monday, January 22, 2024
Good morning. The precious metals are lower in early U.S. trading.
 
Quote Board
 
U.S. calendar features Leading Indicators.
Zaner Daily Precious Metals Commentary
Friday, January 19, 2024

While the gold and silver markets are showing initial strength this morning, outside market action leaves the bear camp with a prevailing edge.

In fact, despite initial weakness in the dollar, disastrous retail sales readings from the UK should leave the dollar in favor and physical commodities like gold off balance.

Furthermore, US treasury yields have clawed higher this week with yields overnight reaching the highest level since December 13th...[MORE]

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Gold set for weekly fall as US rate cut hopes ebb
Friday, January 19, 2024
Jan 19 (Reuters) - Gold drifted higher on Friday, buoyed by a weaker U.S. dollar but was set to log its biggest weekly decline in six after the Federal Reserve countered market expectations of an early interest rate cut.
 
Spot gold rose 0.5% to $2,032.90 per ounce by 1231 GMT but was down 0.8% so far in the week. U.S. gold futures rose 0.7% to $2,035.80...[LINK]
Morning Call
Friday, January 19, 2024
Good morning. The precious metals are mostly higher in early U.S. trading.
 
Quote Board
 
U.S. calendar features Michigan Sentiment Prelim, Existing Home Sales, TIC Data.
 
FedSpeak due from Barr & Daly.
Zaner Daily Precious Metals Commentary
Thursday, January 18, 2024

While February gold did not post a lower low trade overnight, fundamental developments favor more declines and a trade below $2000.

In addition to hawkish ECB dialogue predicting no rate cuts until summer, expectations for a US cut have been pushed further into the future with US data continuing to signal an economy holding together which in turn has been accompanied by a consistent reduction in the probability of a first quarter US rate cut.

However, the bull camp should get some credit for prices tracking in positive territory this morning especially with the Chinese Premier discounting the prospects of a stimulus package from the government...[MORE]

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Gold climbs as weaker dollar, safe-haven demand lend support
Thursday, January 18, 2024
Jan 18 (Reuters) - Gold prices rose on Thursday, helped by a softer U.S. dollar and the Middle East conflict lifting safe-haven appeal, while investors await further comments from a Federal Reserve official to gauge the central bank's interest rate trajectory.
 
Spot gold rose 0.5% to $2,015.79 per ounce by 1255 GMT, but was lingering near its five-week low hit in the previous session...[LINK]