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Blog posts tagged with 'silver'

Morning Call
Monday, August 14, 2023
Good morning. The precious metals are lower in early U.S. trading.
 
Quote Board
 
U.S. econimic calendar is empty.
Zaner Daily Precious Metals Commentary
Friday, August 11, 2023

With a fresh lower low for the move the path of least resistance looks to remain down with today's US PPI report likely to result in the same price reaction as was seen following the US CPI report yesterday.

Certainly, seeing ETFs push money into gold is a positive but we do not detect a full shift in market sentiment in favor of the bull camp.

However, gold and silver might benefit from a generally weaker dollar which partially offsets negative spillover from overnight declines in global equities...[MORE]

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Gold set for worst week in seven on dollar, yields strength
Friday, August 11, 2023

Aug 11 (Reuters) - Gold prices on Friday were on track for their worst week in seven, hurt by an overall stronger dollar and elevated bond yields as investors digested the latest U.S. inflation numbers and awaited for more economic data later in the day.

Spot gold rose 0.3% to $1,917.73 per ounce by 1037 GMT, after touching its lowest level since July 7 earlier. U.S. gold futures edged up 0.1% to $1,950.20...[LINK]

Morning Call
Friday, August 11, 2023
Good morning. The precious metals are higher in early U.S. trading.
 
Quote Board
 
U.S. calendar features PPI (+0.2% exp.), Michigan Sentiment Prelim.
 
Zaner Daily Precious Metals Commentary
Thursday, August 10, 2023
With gold testing yesterday's low in the early going despite a weak track in the dollar, the path of least resistance remains down.
 
However, the trade is likely to mark time on the charts until the release of US CPI, with inflation capable of sparking a chain reaction of movement in treasury yields, the dollar, and eventually precious metal and commodity prices.
 
Not surprisingly, investors remain cool toward gold ETF holdings which were reduced for the 13th straight session yesterday...[MORE]
 
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Gold firms on softer dollar as U.S. inflation test looms
Thursday, August 10, 2023

Aug 10 (Reuters) - Gold firmed on Thursday buoyed by a softer dollar but was hemmed into a relatively tight range as traders positioned for U.S. inflation readings that could steer the Federal Reserve’s monetary policy.

Spot gold rose 0.4% to $1,921.32 per ounce by 1125 GMT, bouncing up slightly after touching its lowest level since July 10 on Wednesday. U.S. gold futures edged up 0.2% to $1,954.60...[LINK]

Morning Call
Thursday, August 10, 2023
Good morning. The precious metals are higher in early U.S. trading.
 
Quote Board
 
U.S. calendar features CPI (+0.2% exp.), Initial Jobless Claims, Treasury Budget.
 
FedSpeak due from Daly, Bostic, & Harker.
Zaner Daily Precious Metals Commentary
Wednesday, August 9, 2023

While yesterday was a very discouraging day for gold and silver bulls, today does not look to be an improvement.

In fact, with the world largely accepting the likelihood of Chinese deflation and the Chinese economy capable of exporting deflation, (overnight Chinese producer prices declined by 4.4% following a 5.4% decline in the previous month) should leave physical commodities out of favor.

Not surprisingly gold ETF holdings fell again yesterday for the 12th straight session while silver ETF holdings dropped for a 5th straight session...[MORE]

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Gold steadies on weaker dollar before US inflation print
Wednesday, August 9, 2023

Aug 9 (Reuters) - Gold steadied on Wednesday, buoyed by weakness in the dollar, although caution prevailed in the run-up to U.S. inflation readings that could set the tone for future monetary policy.

Spot gold was up 0.1% at $1,925.85 per ounce by 1145 GMT, having dropped to its lowest since July 10 at $1,922 on Tuesday. U.S. gold futures remained mostly unchanged at $1,959.80...[LINK]

Morning Call
Wednesday, August 9, 2023
Good morning. The precious metals are lower in early U.S. trading.
 
Quote Board
 
U.S. calendar features MBA Mortgage Applications, EIA Data.