• +1 (312) 549-9986

Gold $2,614.80 $4.89 0.19% Silver $29.67 $0.02 0.07% Platinum $943.84 $4.29 0.46% Palladium $941.20 $11 1.18%
RSS

Blog posts tagged with 'silver'

Zaner Daily Precious Metals Commentary
Monday, August 28, 2023

While the gold trade this morning is showing positive action, optimism is seemingly based on the slim idea that gold "held up" well against last week's hawkish Fed guidance.

However, hedge fund managers reduced their net long last week and gold ETF holdings last week reduced their gold holdings by a very significant 257,994 ounces.

Year-to-date gold ETF holdings are down 4.2%! Similarly, silver ETF holdings last week declined by 6.3 million ounces with holdings year-to-date down 3.6%...[MORE]

Please subscribe to receive the full report via email by clicking here.

Gold shrugs off hawkish Powell to start data-packed week
Monday, August 28, 2023

Aug 28 (Reuters) - Gold held its ground on Monday as investors digested hawkish comments from Federal Reserve Chair Jerome Powell before a slew of U.S. economic data this week that is expected to shed light on inflation and the labour market.

Spot gold was steady at $1,914.59 per ounce by 1200 GMT. U.S. gold futures gained 0.1% to $1,942.10...[LINK]

Morning Call
Monday, August 28, 2023
Good morning. The #preciousmetals are mostly lower in early U.S. trading.
 
Quote Board
 
U.S. calendar features Dallas Fed Index, #FedSpeak from Barr.
 
UK markets closed for Summer Bank Holiday.
Gold heads for best week in six ahead of key Powell speech
Friday, August 25, 2023

Aug 25 (Reuters) - Gold steadied on Friday as it headed for its best week since mid-July, with support lent by a pullback in U.S. bond yields ahead of Federal Reserve Chair Jerome Powell’s keynote remarks at the Jackson Hole symposium.

Spot gold was nearly unchanged at $1,917.17 per ounce by 1149 GMT, having risen about 1.5% so far this week. U.S. gold futures shed 0.1% to $1,945.20...[LINK]

Morning Call
Friday, August 25, 2023
Good morning. The precious metals are mostly higher in early U.S. trading.
 
Quote Board
 
U.S. calendar features Michigan Sentiment, FedSpeak from Harker.
 
Jackson Hole Symposium will have speeches from Fed's Powell, ECB's Lagarde, BoE's Broadbent, and BoJ's Ueda.
Zaner Daily Precious Metals Commentary
Thursday, August 24, 2023

While gains this morning are not significant in #gold, the market has managed to maintain positive traction despite modest EARLY strength in the #dollar.

However, US treasury rates have posted a lower low in yield, with the lowest yield registered since August 15th. Unfortunately for the bull camp, gold ETF holdings fell by a significant 163,346 ounces yesterday pushing year-to-date sales to 4.1%.

In another negative demand development overnight Chinese net gold imports through Hong Kong declined 26% last month with overall Chinese net imports AT 25.7 metric tons compared to 34.6 in the previous month...[MORE]

Please subscribe to receive the full report via email by clicking here.

Gold climbs two-week peak as Jackson Hole looms
Thursday, August 24, 2023

Aug 24 (Reuters) - Gold rose for a fourth straight session to a two-week high on Thursday, extending gains from the previous session fuelled by weaker U.S. data in the run up to likely interest rate guidance from central bankers at Jackson Hole.

Spot gold was up 0.3% at $1,919.07 per ounce by 0956 GMT, hitting its highest level since Aug. 10. U.S. gold futures were flat at $1,947.40...[LINK]

 
Morning Call
Thursday, August 24, 2023
Good morning. The #preciousmetals are mostly lower in early U.S. trading.
 
 
U.S. calendar features Durable Orders (-4.0% expected), Initial Jobless Claims, Chicago Fed National Activity Index, #FedSpeak from Harker.
Zaner Daily Precious Metals Commentary
Wednesday, August 23, 2023
The gold and silver trade is focused on declining US rates and is discounting a higher high move in the dollar this morning.
 
Apparently, traders/investors are generally content to hold gold through upcoming Fed policy guidance headlines and despite a widely held belief that the Fed will ultimately hike rates one more time.
 
In a minimal bearish development, the CME Fed watch tool placed the odds of a US pause next month slightly lower than earlier in the week at 86.5%...[MORE]
 
Please subscribe to receive the full report via email by clicking here.
Gold climbs as bond yields dip before Jackson Hole meeting
Wednesday, August 23, 2023

Aug 23 (Reuters) - Gold extended gains above $1,900 on Wednesday, drawing support from a retreat in U.S. bond yields as investors positioned for guidance from monetary policymakers at the Jackson Hole symposium.

Spot gold firmed 0.3% to $1,903.60 an ounce by 1136 GMT, drifting higher for a third straight session. U.S. gold futures rose 0.4% to $1,932.60...[LINK]