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Gold $2,609.86 $(12.92) -0.49% Silver $29.49 $(0.02) -0.07% Platinum $940.66 $14.06 1.52% Palladium $934.21 $18.22 1.99%
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Blog posts tagged with 'platinum'

Morning Call
Monday, August 21, 2023
Good morning. The precious metals are mostly higher in early U.S. trading.
 
Quote Board
 
U.S. economic calendar is empty.
Zaner Daily Precious Metals Commentary
Friday, August 18, 2023

While the dollar remains below its multi-month high in the early action today, it appears to be poised to forge a higher high later today which will certainly threaten gold which is tracking moderately higher in the early going.

Fortunately for the bull camp, US interest rates are showing a lower track early and commodities in general are showing positive action.

However, gold continues to face bearish internal forces with gold ETF holdings reduced for the fifth straight session and UBS cutting its year-end gold price forecast...[MORE]

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Gold heads for third weekly fall on fading bets for Fed cut
Friday, August 18, 2023

Aug 18 (Reuters) - Gold gained on Friday as the dollar and bond yields eased but remained on course for a third straight weekly dip as strong U.S. economic data reinforced bets that the Federal Reserve will keep interest rates elevated.

Spot gold rose 0.3% to $1,894.41 per ounce by 1042 GMT, after touching its lowest in five months on Thursday. U.S. gold futures rose 0.3% to $1,920.80...[LINK]

Morning Call
Friday, August 18, 2023

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

Quote Board

U.S. economic calendar is empty.

Zaner Daily Precious Metals eNewsletter
Thursday, August 17, 2023
While bearish control has definitively extended in gold today, the silver market has found value on the charts above $22.26.
 
Clearly, the gold market is locked into a bearish reactionary mode relative to the dollar as the highest dollar trade since early June overnight coincided with the lowest gold trade since March 10th.
 
Unfortunately for the bull camp, gold and silver ETF holdings continue to decline, but the overnight outflow of 193,070 ounces of gold is a very large movement signaling gold is becoming "more out-of-favor"...[MORE]
 
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Gold hits 5-month low as robust US data lifts rate hike bets
Thursday, August 17, 2023

Aug 17 (Reuters) - Gold hit a five-month low on Thursday after data pointed to a resilient U.S. economy and raised prospects that the Federal Reserve may hike interest rates once more this year.

Spot gold edged up 0.2% to $1,893.30 per ounce by 0945 GMT, as some traders bought on the dips, but hovered near its weakest level since March 15 at $1,888.30...[LINK]

Morning Call
Thursday, August 17, 2023

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

Quote Board

U.S. calendar features Philly Fed Index, Initial Jobless Claims, Leading Indicators.

Zaner Daily Precious Metals Commentary
Wednesday, August 16, 2023

While the dollar is slightly lower, US rates are slightly lower early and expectations for a pause by the US Fed next month expanded overnight gold and silver do not appear to be interested in a minor shift in outside market influences.

However, the December gold chart has a very uniform and entrenched pattern of lower highs and lower lows leaving the bear camp with a definitive edge from the charts.

Not surprisingly, both gold and silver ETF holdings posted significant declines yesterday as investors flee from instruments that have consistently eroded over the past 35 trading sessions...[MORE]

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Gold ticks up as dollar eases before Fed's July minutes
Wednesday, August 16, 2023

Aug 16 (Reuters) - Gold clawed higher on Wednesday on a weaker dollar and bond yields, recovering some ground after retreating below the key $1,900 level in the last session following robust U.S. economic data.

Bullion traders also positioned for minutes from the Federal Reserve’s July policy meeting for further cues on interest rate strategy, as well as U.S. homebuilding and factory output data later in the day.

Spot gold edged up 0.2%, to $1,905.25 per ounce, by 0946 GMT, while U.S. gold futures were up 0.1%, at 1,936.60...[LINK]

Morning Call
Wednesday, August 16, 2023
Good morning. The precious metals are mixed in early U.S. trading.
 
Quote Board
 
U.S. calendar features Housing Starts, Industrial Production, EIA Data, FOMC Minutes.