Blog posts tagged with 'platinum'

With Israel preparing for an attack on Rafah against the will of the international community, that is likely to give way to increased terrorist attacks on shipping in the Red Sea area and perhaps elsewhere in the world. In fact, a tanker was hit over the weekend, but the fire was contained.

It also appears that Russia and Ukraine are stepping up attacks on energy-related facilities and that could also yield sudden flight to quality lift for gold and bitcoin.

Unfortunately for the bull camp, the US dollar showed significant strength at the end of last week and appears to have entered an uptrend pattern and that is likely to provide consistent headwinds for precious metal prices...[MORE]

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After a strong start to Thursday post-FOMC, precious metals fell back from early highs with gold finishing with a moderate gain while silver had an outside-day lower close and a reversal from a 3 1/2-month high, and both metals have followed through to the downside early in today's action.

Going into the weekend and with one holiday-shortened week left in the first quarter, both metals are vulnerable to profit-taking and additional long liquidation today.

The FOMC meeting results maintained the Fed's projection of 75 basis points in rate cuts by the end of this year, and that has increased the chances for a June rate cut which in turn provided a boost to the precious metals...[MORE]

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Precious metals have broken out to the upside in a very positive reaction to the FOMC meeting results.

June gold has reached a new record high while May silver reached a 3 1/2-month high early in today's action, and both are holding onto those gains this morning.

Gold and silver have benefited from the sizable pullback in the dollar after it reached a 3-week high before the FOMC meeting results. While the dollar has found its footing, it remains well below Wednesday's high and is providing support to metals markets...[MORE]

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Good morning. Gold is higher while the other precious metals are mixed in early US trading.

U.S. calendar features Philly Fed Index, Q4 Current Account, Initial Jobless Claims, Flash PMIs, Leading Indicators, Existing Home Sales.

FedSpeak due from Powell, Barr, & Bostic.

While gold prices have regained the upper hand on silver, both are holding in relatively tight price ranges this morning.

After this afternoon's Fed meeting results and Fed Chair Powell's press conference, gold and silver are likely to break out of those tight ranges.

The dollar has rallied to a 3-week high in a "buy the fact" reaction to the first Bank of Japan rate hike in 17 years, and that continues to pressure gold and silver prices...[MORE]

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While gold and silver saw divergent trading action at the start of this week, they are both on the defensive early on.

There was a role reversal Monday with gold regaining the upper hand on silver as both remain close to 2024 price highs.

The dollar has extended its mid-March recovery to a 3-week high in the wake of the Bank of Japan's first rate hike since 2007 as the Yen had a "sell the fact" reaction falling to a new low for the move and that in turn put early pressure on precious metals prices...[MORE]

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

U.S. calendar features Housing Starts, TIC Data. 2-day FOMC meeting begins.