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Gold $2,614.85 $4.94 0.19% Silver $29.70 $0.05 0.17% Platinum $949.20 $9.65 1.03% Palladium $941.60 $11.4 1.23%
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Blog posts tagged with 'precious metals'

Morning Metals Call
Wednesday, May 29, 2024
Good morning. The precious metals are lower in early U.S. trading.
 
Gold Chart
 
U.S. calendar features Mortgage Aps, Richmond Fed Index, Beige Book.
 
FedSpeak due from Williams & Bostic.
Zaner Daily Precious Metals Commentary
Tuesday, May 28, 2024

While gold and silver are tracking higher early today the charts still favor the bear camp from last week's sharp range-down failures which in turn should make the Thursday/Friday lows key pivot point pricing to start the new trading week.

Key pivot point pricing in June gold begins at $2328.10 and at $30.265 in July silver.

Adding to the negative track in gold and silver prices early today is news that Chinese April net gold imports plunged 38% from March which we think was largely the result of historically high pricing...[MORE]

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Morning Metals Call
Tuesday, May 28, 2024

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

Gold Chart

U.S. calendar features Case-Shiller Home Price Index, FHFA Home Price Index, Consumer Confidence, Dallas Fed Index, M2.

FedSpeak due from Mester, Bowman, & Kashkari.

Zaner Daily Precious Metals Commentary
Friday, May 24, 2024

What goes up aggressively and makes a chain of new record highs holds the prospect of aggressive corrective action. In fact, if gold finishes the week at current levels, it will have dropped the most in a single week since last October!

In retrospect, the pendulum shift on US interest rate policy back toward the hawks, combined with a higher high in the dollar and a pulse higher in treasury yields, provides a bearish environment for gold and silver into the end of the week.

However, if recent gains were partially the result of flight to quality issues, we suspect some bargain-hunting buying will surface before the close today, but perhaps after additional declines...[MORE]

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Morning Metals Call
Friday, May 24, 2024
Good morning. The precious metals are mostly higher in early U.S. trading.
 
Gold Chart
 
U.S. calendar features Durable Orders, Michigan Sentiment Final, FedSpeak from Waller.
Hedging can protect holders of physical precious metals inventory from adverse market moves
Thursday, May 23, 2024

Gold has plunged more than 4% from Monday's record high at $2449.34. The yellow metal fell $42.57 on Wednesday and is off another $35 today.

Gold Chart 

Silver has tumbled nearly 7% from Tuesday's 11-year high at $32.38!

Silver Chart

Losses are mounting as markets unwind rate cut expectations in the wake of Wednesday's release of the minutes from the last FOMC meeting.

Short-term losses like this can have a significant detrimental impact on bullion dealers, mints, and refiners that hold physical precious metals inventory.

The Tornado Hedging Platform by Zaner allows our clients to protect their inventory against such adverse market movements.

"As a precious metals dealer that holds a decent amount of physical inventory, if I am not hedged, on big down days in precious metals, I could lose a whole month in profits." – Tornado Hedging Client

Please visit www.TornadoBullion.com for more information.

Zaner Daily Precious Metals Commentary
Thursday, May 23, 2024

While the declines yesterday in gold and silver were blamed on fear of hawkish statements from the last Fed meeting minutes, the declines this morning are the result of a realization of hawkish news from the actual release.

Apparently, the Fed had a debate on whether policy was tight enough to bring inflation down as quickly as was hoped for and some policymakers were disappointed in the economic information they have seen since the March meeting.

Therefore, a minimal higher high for the move in the US dollar adds to the liquidation bias in markets that were significantly overdone into the recent highs...[MORE]

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Morning Metals Call
Thursday, May 23, 2024
Good morning. The precious metals are lower in early U.S. trading.
 
Gold Chart
 
U.S. calendar features Initial Jobless Claims, Chicago Fed National Activity Index, Flash PMIs, New Home Sales, FedSpeak from Bostic.
Zaner Daily Precious Metals Commentary
Wednesday, May 22, 2024

While today could be a very critical pivot point for gold from a macroeconomic perspective, (US Fed meeting minutes release, 20-year US treasury bond auction, and existing home sales) it should be noted that internal fundamentals remain generally positive.

In fact, gold ETF holdings have now risen for six straight days and silver ETF holdings yesterday jumped by a notable 2.8 million ounces.

In a minimal and perhaps temporary negative development, gold saw a forecast overnight from Commerzbank suggesting gold prices will fall back to $2300 in the second half of this year. Countervailing the bearish $2300 price projection by Commerzbank is a forecast from Morgan Stanley of a target of $2760 an ounce...[MORE]

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PG Comment: I wouldn't consider a retreat to $2300 bearish. That's just 4.6% below the current price. Now if we go the $2760 first...that's another story.

Morning Metals Call
Wednesday, May 22, 2024
Good morning. The precious metals are lower in early U.S. trading.
 
Gold Chart
 
U.S. calendar features Existing Home Sales, EIA Data, FOMC Minutes.