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Gold $3,288.91 $(29.05) -0.88% Silver $32.97 $(0.34) -1.02% Platinum $1,054.90 $(28.55) -2.64% Palladium $969.55 $(1.89) -0.2%
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Zaner Daily Precious Metals Commentary
Monday, May 1, 2023
Seeing the #gold market track lower in the face of the official First Republic Bank failure highlights the market's lack of sensitivity to flight to quality events.
 
Furthermore, seeing gold and #silver diverge suggests flight to quality sentiment is really moderating and the trade is possibly looking at silver as an undervalued commodity following the deficit projections from the Silver Institute.
 
Last week gold ETF holdings increased by 105,274 ounces while silver ETF holdings increased by 4.5 million ounces which shifted silver holdings into a net gain year-to-date of 0.4%...[MORE]
 
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Gold slips on firmer dollar, spotlight on Fed meeting
Monday, May 1, 2023

(Reuters) - Gold prices eased on Monday as the U.S. dollar held firm, with cautious traders awaiting the Federal Reserve’s interest rate hike decision later this week.

Spot gold fell 0.5% to $1,980.78 per ounce by 0759 GMT. U.S. gold futures shed 0.5% to $1,989.20...[LINK]

Morning Call
Monday, May 1, 2023

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

Quote Board

U.S. calendar features Manufacturing PMI & ISM, Construction Spending.

 

Economic risks put gold on course for monthly rise
Friday, April 28, 2023

April 28 (Reuters) - Gold prices eased on Friday as the dollar firmed in the run-up to U.S. inflation data, but economic jitters kept safe-haven bullion on course for a second consecutive monthly rise.

Spot gold edged 0.2% lower to $1,983.86 per ounce by 1145 GMT, but was up 0.8% for the month. U.S. gold futures eased 0.4% to $1,992.00...[LINK]

Morning Call
Friday, April 28, 2023

Good morning. The #preciousmetals are mostly lower in early U.S. trading.

Quote Board

U.S. calendar features ECI, Personal Income (+0.2% exp), PCE (-0.1% exp), Chicago PMI, MI Sentiment, Ag Prices.

 

Zaner Daily Precious Metals Commentary
Thursday, April 27, 2023
While the #dollar posted a fresh lower-low move early today the #gold and #silver markets are not showing initial bullish sensitivity to that development.
 
The bull camp should also be disappointed with the failure to see flight to quality buying interest in gold this morning after market concerns flowing from First Republic Bank news that deposits fell 40% in the first quarter which rekindles bank crisis concerns.
 
Another bearish force facing the gold trade today is a sharp 106,831-ounce outflow from gold ETF holdings yesterday which now puts holdings down 0.4% year-to-date...[MORE]
 
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Safe-haven gold firms on economic woes
Thursday, April 27, 2023

April 27 (Reuters) - Prices of safe-haven gold rose on Thursday as economic worries returned to the fore and traders awaited U.S. data for hints on the Federal Reserve's policy trajectory.

Spot gold was up 0.6% at $2,000.43 an ounce by 1024 GMT and U.S. gold futures rose 0.6% to $2,007.60...[LINK]

Morning Call
Thursday, April 27, 2023

Good morning. The #preciousmetls re higher in early U.S. trading.

Quote Board

U.S. calendar features Q1 Advance GDP (+2.1% exp.), Initial Jobless Claims, Pending Home Sales.

#gold #silver #platinum #palladium

Zaner Daily Precious Metals Commentary
Tuesday, April 25, 2023
While #gold and #silver should draft support from positive Chinese economic data released overnight, we leave the edge with the bear camp.
 
However, support at the $2000 level could be solidified by reports overnight that within the sharper-than-expected jump in Chinese retail sales were signs of increasing interest in gold jewelry.
 
Unfortunately for the bull camp investment outside of China was soft yesterday with gold ETF holdings falling by 66,464 ounces pushing the year-to-date decline to 0.4%...[MORE]

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Gold slips on firmer dollar as US data zooms into focus
Tuesday, April 25, 2023

April 25 (Reuters) - Gold prices dipped on Tuesday as the dollar firmed, while investors shied away from making big bets ahead of U.S. economic data that could determine the Federal Reserve's rate-hike strategy.

Spot gold fell 0.5% at $1,978.72 per ounce by 1141 GMT, while U.S. gold futures also slipped 0.5% at $1,989.00...[LINK]