Morning Call
Tuesday, February 13, 2024Good morning. The precious metals are higher in early U.S. trading.
U.S. calendar features NFIB Small Business Optimism Index, CPI (+0.2% expected).
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Blog posts tagged with 'precious metals'
Zaner Daily Precious Metals Commentary
Monday, February 12, 2024While gold and silver finished Friday with moderate losses for the day and week, they are starting with silver rallying to a one-week high and gold under pressure.
Platinum and palladium have rebounded off their 2024 lows. However, further gains are being held in check by ongoing Asian and European auto catalyst demand concerns.
Although they started a 1-week Lunar New Year holiday on Friday, China's economic concerns are not going away anytime soon, and they continue to weigh on the near-term demand outlook for both precious metals...[MORE]
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Gold eases as U.S. CPI takes centre stage
Monday, February 12, 2024Feb 12 (Reuters) - Gold edged lower on Monday due to an uptick in the dollar, although prices were stuck in a tight range as investors looked forward to U.S. inflation data and comments from Federal Reserve officials this week.
Spot gold was down 0.2% at $2,021.13 per ounce, oscillating in a $5 range, at 1219 GMT. U.S. gold futures also fell 0.2% to $2,035.60 per ounce...[LINK]
Zaner Daily Precious Metals Commentary
Thursday, February 8, 2024There has been notable divergence in precious metals with gold holding within its 2024 consolidation zone while silver is still within striking distance of a new 4-month low.
The gold/silver ratio was just above 92 at yesterday's close and approaching the 17-month high reached in mid-January.
The dollar remains well below Monday's 2 1/2-month high which has underpinned metals prices early today.
Fed speakers gave mixed comments on upcoming Fed policy yesterday, and the market's disappointment that there was not an overall dovish tone has weighed on gold and silver prices...[MORE]
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Gold subdued as traders seek more Fed cues; palladium extends slide
Thursday, February 8, 2024Feb 8 (Reuters) - Gold prices eased on Thursday as dollar ticked higher, with investors awaiting more cues on the timing of the U.S. Federal Reserve's first interest rate cut this year, while palladium prices dropped to a fresh five-year low as demand concerns persist.
Spot gold fell 0.4% to $2,026.39 per ounce, as of 1230 GMT. U.S. gold futures lost 0.5% to $2,041.10 per ounce...[LINK]
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.
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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Silver set for a ‘terrific year’ and could outperform gold to hit a 10-year high
Wednesday, February 7, 2024This could be a banner year for silver, with prices potentially hitting a decade-high.
Global silver demand is forecast to reach 1.2 billion ounces in 2024, which would mark the second-highest level on record, the Silver Institute said in a recent report...[LINK]
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]
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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