Morning Call
Thursday, February 8, 2024Good morning. The precious metals are mostly lower in early U.S. trading.
U.S. calendar features Initial Jobless Claims, Wholesale Sales, FedSpeak from Barkin.
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Blog posts tagged with 'platinum'
Zaner Daily Precious Metals Commentary
Wednesday, February 7, 2024After a rough start to February, the tide may have turned for gold prices as they remain well clear of Monday's low.
Silver prices have reached a 2-week low while platinum and palladium are also under moderate early pressure.
The Dollar has extended its pullback after a surprise downtick from a private survey of US economic optimism, which carried more weight with the market than usual on Tuesday as there were no top-tier US economic numbers to digest...[MORE]
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Gold stuck in tight range as traders await Fed rate-cut cues
Wednesday, February 7, 2024Gold prices were stuck in a relatively tight range on Wednesday as traders turned their attention to remarks from U.S. Federal Reserve officials through the week that may provide more clues on the interest-rate path this year.
Spot gold was last down 0.08% to $2,033.79 per ounce. U.S. gold futures fell 0.09% to $2,049.30 per ounce...[LINK]
Morning Call
Wednesday, February 7, 2024Good morning. The precious metals are lower in early U.S. trading.
U.S. calendar features Trade: Goods & Services, EIA Data, Consumer Credit.
FedSpeak due from Kugler, Collins, Barkin, & Bowman.
Zaner Daily Precious Metals Commentary
Tuesday, February 6, 2024The sharp rally in the dollar has clearly undermined support for the precious metals, along with the break in Treasury prices.
Fed Chair Powell's comments on 60 Minutes put to rest any ideas that the Fed would consider cutting rates in March, and this sparked a breakout rally in the dollar to its highest level since November 14.
Comments from other Fed officials reinforced this stance, with Fed Governor Michele Bowman saying it is too soon to consider lowering interest rates and Chicago Fed President Austin Goolsby saying he wants to see more inflation progress...[MORE]
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Gold languishes near more than one-week low on robust dollar
Tuesday, February 6, 2024Feb 6 (Reuters) - Gold prices were flat on Tuesday, languishing near a more than one-week low hit in the previous session, as the dollar held firm on growing expectations the Federal Reserve will not be more aggressive with rate cuts this year.
Spot gold was steady at $2,025.53 per ounce, as of 1218 GMT, after hitting its lowest since Jan. 25 in the previous session...[LINK]
Morning Call
Tuesday, February 6, 2024Good morning. The precious metals are higher in early U.S. trading.
U.S. calendar features RCM/TIPP Economic Optimism Index.
FedSpeak due from Mester, Kashkari, Collins, & Harker.
Zaner Daily Precious Metals Commentary
Monday, February 5, 2024Not surprisingly, the gold market started off under noted pressure today with a six-day low largely because of the upside breakout in the dollar to the highest level since mid-November and from a slight increase in US treasury yields following a hawkish overnight speech from the US Fed chairman.
With the gold market adding to the January recovery rally last week before failing and reversing the market was giving off technical signs of an intermediate top last week.
Unfortunately for the bull camp, outside market impacts of the dollar and treasuries shifted patently bearishly after the much stronger-than-expected US nonfarm payroll reading...[MORE]
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Gold drops to one-week low as Fed rate cut hopes wane
Monday, February 5, 2024Feb 5 (Reuters) - Gold prices slipped to a one-week low on Monday after a robust U.S. jobs data last week and remarks from Federal Reserve Chair Jerome Powell dented hopes for early rate cuts, lifting the dollar and bond yields higher.
Spot gold was down 0.6% at $2,025.99 per ounce by 1214 GMT, hitting its lowest since Jan. 29. U.S. gold futures fell 0.6% to $2,042.60 per ounce...[LINK]
Morning Call
Monday, February 5, 2024Good morning. The precious metals are mostly lower in early U.S. trading.
U.S. calendar features Services PMI & ISM.
FedSpeak due from Goolsbee and Bostic.