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Blog posts tagged with 'silver'

Gold steadies as bond yields tick lower, traders await more US data
Thursday, September 7, 2023

Sep 7 (Reuters) -Gold prices inched higher on Thursday, as a slight pullback in Treasury yields offered some respite from a robust dollar, while investors looked forward to more U.S. economic data to gauge the outlook for interest rates.

Spot gold was up 0.1% at $1,918.64 per ounce by 0906 GMT, after hitting a one-week low on Wednesday. U.S. gold futures were little changed at $1,943...[LINK]

Morning Call
Thursday, September 7, 2023
Good morning. The precious metals are mostly lower in early U.S. trading.
 
Quote Board
 
U.S. calendar features Q2 Productivity Revised, ULC, Initial Jobless Claims, EIA Data.
 
FedSpeak due from Harker, Goolsbee, Williams, Bostic, Bowman, & Logan.
 
Zaner Daily Precious Metals Commentary
Wednesday, September 6, 2023
While early action today has produced a slight reversal of yesterday's very bearish outside market forces of rising rates and a strengthening dollar, gold and silver are likely to remain under a constant cloud of potential liquidation because of outside market forces.
 
In fact, despite very strong market expectations of a Fed pause (93% Fed funds watch tool) market rates have continued to rise!
 
In other words, US treasury implied yields are tracking a different course than expectations for Fed actions, which could be a sign world markets are taking control of US treasuries away from the Fed...[MORE]
 
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Gold at one-week low as firm dollar, yields dominate mood
Wednesday, September 6, 2023

Sep 6 (Reuters) - Gold languished near one-week lows on Wednesday on strength in the dollar and Treasury yields, driven by expectations for U.S. interest rates to stay elevated for longer and worries about China’s economy.

Spot gold was flat at $1,926.30 per ounce by 1209 GMT, after hitting its lowest since Aug. 29 earlier in the session. U.S. gold futures were little changed at $1,952.40...[LINK]

Morning Call
Wednesday, September 6, 2023
Good morning. The precious metals are mostly lower in early U.S. trading.
 
Quote Board
 
U.S. calendar features Trade: Goods & Services, Services PMI & ISM, IBD/TIPP Economic Optimism Index, Beige Book.
 
FedSpeak due from Collins and Logan.
Zaner Daily Precious Metals Commentary
Tuesday, September 5, 2023
Not surprisingly, the gold and silver markets are under attack early with the dollar breaking out to the upside and extending its sharp recovery from last week.
 
Adding into the bearish tone is higher US interest rate signals and deflationary services and composite PMI readings overnight from China and the eurozone.
 
Unfortunately for the bull camp, both gold and silver saw large outflows from ETF holdings on Friday with gold holdings last week declining by 43,390 ounces and silver ETF holdings down by a very significant 7.7 million ounces last week...[MORE]
 
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Gold hits 1-week low as dollar strengthens after weak China data
Tuesday, September 5, 2023

Sept 5 (Reuters) - Gold slipped to a one-week low on Tuesday as investors sought the U.S. dollar after weak data in China, although rising expectations for a pause in interest rate increases by the U.S. Federal Reserve limited losses.

Spot gold declined 0.4% to $1,930.33 per ounce by 1126 GMT, eyeing its biggest daily drop since mid-August. U.S. gold futures fell 0.6% to $1,955.80...[LINK]

Morning Call
Tuesday, September 5, 2023
Good morning. The precious metals are lower in early U.S. trading.
 
Quote Board
 
U.S. calendar features Factory Orders (-2.7% expected), IBD/TIPP Economic Optimism Index.
Zaner Daily Precious Metals Commentary
Friday, September 1, 2023
 
At least in the early Friday action outside market forces are negative for gold and silver. However, the magnitude of strength in the dollar was limited despite an early rise above yesterday's high.
 
Fortunately for the bull camp gold ETF holdings saw another inflow yesterday of 31,603 ounces, while silver ETF holdings saw another large outflow of 3.2 million ounces. Gold ETF holdings year-to-date are down 4.2% while silver ETF holdings year-to-date are down 4.4%.
 
Despite the slight blip higher in US treasury implied yields this morning, the CME Fed watch tool continues to register a very high 89% probability the Fed will pause next month...[MORE]
 
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Gold set for weekly gain as investors brace for US jobs report
Friday, September 1, 2023

Sep 1 (Reuters) - Gold prices firmed on Friday as investors braced for U.S. jobs data that could confirm the economy’s recent cooling trend and reduced rate hike expectations that have set gold on track for its second straight week of gains.

Spot gold climbed 0.2% to $1,943.80 per ounce by 1008 GMT and was poised for a 1.5% weekly gain after prices touched one-month highs on Wednesday. U.S. gold futures were up 0.2% at $1,970.40...[LINK]