Blog posts tagged with 'palladium'

Fortunately for the bull camp in gold and silver the upside breakout extension in the dollar overnight has been offset by a minimal decline in US treasury yields.

However, the charts in the dollar project higher action ahead, and the US economic reports slate today is very active potentially rekindling rate cut timing debate.

In the end, the dollar is underpinned, and gold is pressured from Fed Gov. Waller's comments yesterday cautioning the Fed against rushing to cut rates before establishing inflation has been slayed...[MORE]

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In addition to gapping higher overnight, the dollar index reached the highest level since December 13th in a reaction that appears to carry follow-through potential.

Adding to the bearish track for gold and silver to start the new trading week, US treasury yields are climbing and gold ETF holdings at the end of last week had posted nine straight days of outflows, with holdings last week reduced by 656,635 ounces. Year-to-date gold ETF holdings are already down 1.2% while silver ETF holdings are down only 0.6% year-to-date. 

From a longer-term perspective, the gold market could see lift from Chinese President Xi Jinping who announced China would push for high-quality development of its financial sector and would accelerate the creation of a modern financial system as that necessitates the need for a faster expansion of Chinese central bank gold reserves to backstop its currency in the eyes of the world trade...[MORE]

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Jan 16 (Reuters) - Gold prices declined on Tuesday, hurt by a strengthening dollar and Treasury yields, as markets wait to hear remarks from several Federal Reserve officials this week to further gauge the central bank's monetary policy path.

Spot gold was down 0.8% at $2,037.40 per ounce, as of 1212 GMT. U.S. gold futures fell 0.5% to $2,041.50...[LINK]

Jan 15 (Reuters) - Gold prices advanced on Monday, as the metal's appeal was boosted by safe-haven demand owing to tensions in the Middle-East, while markets raised bets that the Federal reserve will cut rates sooner than expected.

Spot gold was up 0.3% at $2,053.51 per ounce, as of 1320 GMT. U.S. gold futures rose 0.3% to $2,058.00, with trading expected to be low due to the Martin Luther King Day holiday...[LINK]

Good morning. The precious metals are mixed in mid-session in London.

U.S. markets are closed today in observance of the Martin Luther King Jr. Day holiday.

With the dollar slightly higher and US treasuries flat a $24 rally in gold and a $0.40 rally in silver is likely the result of US and Great Britain attacks on suspected Yemeni terrorists' strongholds inside Yemen.

Apparently, the oil and precious metal markets see the onshore strikes in Yemen as an escalation and perhaps a catalyst for an expansion of military aggression in the area.

While the crude oil market is only up $2.40, a flight-to-quality situation is unfolding and has sparked an unusual migration to gold and silver...[MORE]

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