Blog

Gold prices rose on Wednesday as investors looked to the minutes of the Federal Reserve’s latest policy meeting for cues on timing of interest rate cuts, while safe-haven demand buoyed by escalating conflict in the Middle East also lent support.

Spot gold was up 0.2% at $2,027.96 per ounce as of 1012 GMT. Prices had climbed to their highest since Feb. 9 earlier in the session...[LINK]

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

U.S. calendar features MBA Mortgage Applications, FOMC Minutes, FedSpeak from Bostic.

Gold prices held steady on Tuesday despite a stronger dollar and elevated Treasury yields, as investors awaited the minutes of the last U.S. Federal Reserve policy meeting for more clues on its interest rate cut timing.

Spot gold was flat at $2,018.03 per ounce, as of 0341 GMT. Most of the U.S. markets were closed on Monday for the President’s Day holiday...[LINK]

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

U.S. calendar features Leading Indicators (-0.3% expected).

Gold prices rose to a nearly one-week high on Monday as a slight pullback in the U.S. dollar and escalating tensions in the Middle East lifted bullion’s safe-haven appeal.

Spot gold was up 0.3% at $2,019.99 per ounce, as of 0530 GMT, hitting its highest since Feb. 13...[LINK]

U.S. PPI +0.3% in Jan, above expectations of +0.1%, vs downward revised -0.2% in Dec; 0.9% y/y, down from 1.0% in Dec.

Core +0.5%, above expectations of +0.2%, vs downward revised -0.1% in Dec; 2.0% y/y, vs revised 1.7% in Dec.

Gold has softened in reaction but remains confined to yesterday's range. 

With the gold market sitting at levels that would create the first weekly loss of this year, the dollar minimally higher, treasury yields minimally higher and US producer price index report for January scheduled for release this morning, gold is likely to experience a flare of volatility which will likely dissipate quickly.

While we see the current fundamental and technical trend pointing down, as expected or softer than expected PPI readings (expectations of +0.1%) could dramatically increase respect for the $2000 level and prompt a short covering wave capable of sending April gold up to $2026.

However, the trade will be presented with a second wave of US inflation information in the form of the University of Michigan five-year consumer inflation expectations report for the month of February...[MORE]

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