Blog posts tagged with 'silver'

Gold futures gapped higher this morning to a new post-Hamas attack high of $2,004.

Gold positioning in the Commitments of Traders for the week ending October 24th showed Managed Money traders net bought 48,815 contracts and are now net long 90,682 contracts. Non-commercial & non-reportable traders were net long 169,754 contracts after increasing their already long position by 43,725 contracts.

With the December gold contract into the high Friday sitting $37 above the level where the last positioning report was measured, the net spec and fund long is only the highest since July...[MORE]

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Oct 30 (Reuters) -Gold prices slipped from the key $2,000 level on Monday, as investors positioned cautiously ahead of the U.S. Federal Reserve’s policy meeting this week, while safe-haven demand due to the Middle East conflict provided a floor.

Spot gold was down 0.6% at $1,993.71 per ounce by 0936 GMT. U.S. gold futures rose 0.3% to $2,003.50...[LINK]

In retrospect, action in gold this week has been very impressive as the market has held its ground in the face of periodic and significant outside market headwinds from the flow of periodic higher treasury yields and a consistently strong dollar which might have shifted back into an uptrend.

However, the Middle East flight to quality factor remains in place, and with US airstrikes in Syria, residual fear of the launch of a ground war, possible terrorist attacks inside Israel, or signs that the Palestinians get military aid from Arabs.

Estimates for the core month-over-month PCE report call for an uptick from the prior month which should provide the dollar with support to finish the trading week in conclusion in a vacuum of financial market influences gold and silver could be formal to liquidation...[MORE]

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Oct 27 (Reuters) -Gold prices were set to mark their third straight weekly rise on Friday as a risk averse mood due to the ongoing Middle East conflict pushed investors to the safety of bullion, while investors also awaited key U.S. consumption figures.

Spot gold was steady at $1,985.30 per ounce by 0950 GMT. U.S. gold futures fell 0.1% to $1,996.20...[LINK]

Gold and silver are showing bullish resiliency this morning as the upside breakout extension in the dollar has not thrown prices into negative territory.

While the action in the treasury markets is not distinct this morning, gold and silver traders appear to have shifted some of their focus back to currency action.

On the other hand, the markets are betting heavily on a top in US treasury Note yields at 5% and a breakout above that could compound the negative impact from the surging dollar...[MORE]

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Oct 26 (Reuters) - Gold climbed back towards last week’s five-month peak on Thursday, undeterred by a stronger U.S. dollar and bond yields, as investors looked to the safe-haven asset amid the Middle East conflict.

Spot gold rose 0.4% to $1,986.69 per ounce by 1131 GMT, trading just shy of its highest level since May 16 hit on Friday...[LINK]

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

U.S. calendar features Q3 GDP Advance Report (4.5% exp), Durable Orders (2.1% exp), Adv. Indicators: Goods Trade, Initial Jobless Claims, Pending Home Sales Index, FedSpeak from Waller.

While outside market pressures are not distinctly bearish this morning, the dollar is near a four-day upside breakout and treasury yields are drifting higher.

So far this week, the primary focus of the gold and silver trade has been on bond yields, with less sensitivity to the dollar.

Nonetheless, strength in the dollar following positive US scheduled data yesterday and renewed fears of a European recession indirectly pressured gold yesterday...[MORE]

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