Morning Call
Friday, February 2, 2024Good morning. The precious metals are mostly higher in early U.S. trading.
U.S. calendar features Nonfarm Payrolls (+175k expected), Factory Orders (+0.2% expected), Michigan Sentiment Final.
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Blog posts tagged with 'silver'
Zaner Daily Precious Metals Commentary
Thursday, February 1, 2024With the dollar posting a technical breakout on the upside this morning, gold and silver bulls are fortunate treasury yields have remained low overnight.
Global economic news overnight was mixed to slightly softer, which might be considered a negative to gold but more so to silver given its industrial focus.
However, the overriding weight on the back of gold prices this morning is clear sentiment from the US Fed chairman that a rate cut in their next meeting in March is not their base case...[MORE]
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Gold drifts lower after Powell pushes back prospect of March rate cut
Thursday, February 1, 2024Jan 31 (Reuters) - Gold prices reversed course and edged lower on Wednesday after the Federal Reserve Chair Jerome Powell pushed back strongly against expectations of a U.S. rate cut by March.
Spot gold eased 0.1% at $2,034.37 per ounce by 03:10 p.m. ET (2010 GMT) after rising as much as 1% earlier in the session. Bullion was down 1.3% this month but have held above the $2,000 per ounce psychological level so far this year...[LINK]
Morning Call
Thursday, February 1, 2024Good morning. The precious metals are lower in early U.S. trading.
U.S. calendar features Challenger Layoffs, Q4 Productivity & ULC Prelim, Initial Jobless Claims, Manufacturing PMI & ISM, Construction Spending, Auto Sales.
Zaner Daily Precious Metals Commentary
Wednesday, January 31, 2024While the charts in gold tilt in favor of the bull camp, the upward bias is likely a simple drift toward the top of the last month and a half consolidation pattern.
Outside market influences early today are offsetting with supportive treasuries countered by minimal strength in the dollar.
The gold market is likely experiencing some headwinds following the release of the World Gold Council's latest report. In fact, global gold demand fell by 5% last year even without including the negative demand registered by outflows from ETF and OTC gold-based instruments...[MORE]
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Gold set to end lacklustre January with eyes on Fed decision
Wednesday, January 31, 2024Jan 31 (Reuters) - Gold prices are set to end January in negative territory, snapping a three-month gaining streak on Wednesday, following lowered expectations of early interest rate cuts ahead of the U.S. central bank's outlook on policy rates later in the day.
Spot gold was flat at $2,037.30 per ounce by 1237 GMT, while U.S. gold futures rose 0.3% to $2,037.30...[LINK]
Morning Call
Wednesday, January 31, 2024Good morning. The precious metals are mixed in early U.S. trading.
U.S. calendar features ADP Employment Survey, Q4 ECI Chicago PMI, EIA Data, FOMC Policy Statement, Ag Prices.
Zaner Daily Precious Metals Commentary
Tuesday, January 30, 2024With April gold breaking out to the highest level since January 19th, US interest rates continuing to decline, and a tight range bound dollar that leaves the bull camp with the edge.
Furthermore, the market should find fresh support from news that Indian 2023 gold imports in their latest fiscal year increased by 26.7%.
However, comparative Indian gold imports from the prior year were also sharply higher potentially suggesting an improved Indian gold import pattern...[MORE]
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Gold prices edge up as traders brace for Fed rate decision
Tuesday, January 30, 2024Jan 30 (Reuters) - Gold prices ticked up on Tuesday supported by a slightly weaker dollar and lower Treasury yields as investors primed for the U.S. Federal Reserve's policy meeting for updates on the timing of its interest rate cuts.
Spot gold was up 0.1% at $2,032.70 per ounce by 1239 GMT. U.S. gold futures rose 0.4% to $2,032.60...[LINK]
Morning Call
Tuesday, January 30, 2024Good morning. The precious metals are mostly lower in early U.S. trading.
U.S. calendar features Case-Shiller Home Price Index, FHFA Home Price Index, Consumer Confidence, JOLTS Job Openings.
2-Day FOMC meeting begins.