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Gold $2,581.51 $(0.88) -0.03% Silver $30.76 $0.06 0.2% Platinum $988.95 $(10.5) -1.05% Palladium $1,084.70 $16.35 1.53%
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Morning Call
Tuesday, May 30, 2023

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

Quote Board

U.S. calendar features Case-Shiller Home Price Index, FHFA Home Price Index, Consumer Confidence, Dallas Fed Index.

 

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Zaner Daily Precious Metals Commentary
Friday, May 26, 2023

Even though August gold has recovered from a fresh low for the move overnight, the charts generally favor the bear camp.

According to some press outlets, gold is higher this morning because of a retrenchment in the dollar, but that retrenchment is insignificant early on with dollar charts retaining a bullish setup.

However, the parties to the debt ceiling negotiations appear to be so confident in their ability to strike a deal next week, that the President and Congress are leaving Washington for the holidays...[MORE]

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Gold bounces as markets keep tabs on U.S. debt talks
Friday, May 26, 2023

May 26 (Reuters) - Gold prices edged up from two-month lows on Friday, helped by a dip in the U.S. dollar as traders assessed the progress of U.S. debt ceiling negotiations and the Federal Reserve’s rate hike path ahead.

Spot gold was up 0.7% to $1,953.03 per ounce at 1002 GMT, while U.S. gold futures were up 0.5% to $1,952.90...[LINK]

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Morning Call
Friday, May 26, 2023

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

Quote Board

U.S. calendar features Durable Orders (-1.1% exp), Trade, Personal Income (+0.4% exp), PCE, Michigan Sentiment Final.

 

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Gold firms as US debt ceiling uncertainty keeps investors on edge
Thursday, May 25, 2023

May 25 (Reuters) - Gold prices edged up on Thursday as investors waited for developments in drawn-out debt ceiling negotiations in Washington, with gains in bullion capped by the U.S. dollar rising to a more than two-month high.

Spot gold was 0.2% higher at $1,961.77 per ounce by 1155 GMT. U.S. gold futures eased 0.1% to $1,962.60...[LINK]

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Morning Call
Thursday, May 25, 2023
Good morning. The precious metals are mixed in early U.S. trading.
U.S. calendar features Q1 GDP 2nd Report (+1.1% exp), Initial Jobless Claims, Chicago Fed National Activity Index, Pending Home Sales Index, FedSpeak from Collins.
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Gold edges higher as traders eye US debt ceiling, Fed minutes
Wednesday, May 24, 2023
 

May 24 (Reuters) - Gold edged up on Wednesday as the looming debt ceiling deadline prompted some safe-haven flows, while traders waited to scrutinise minutes of the Federal Reserve’s recent policy meeting for guidance on U.S. interest rates.

Spot gold was up 0.3% to $1,981.46 per ounce by 1215 GMT, while U.S. gold futures gained 0.5% to $1,984.30...[LINK]

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Zaner Daily Precious Metals Commentary
Wednesday, May 24, 2023
With the dollar seemingly poised to grind out more gains, US interest rates elevated and a significant outflow from gold ETF holdings of 23,917 ounces the bear camp holds an edge into the Wednesday US trade.
 
In addition to strength in the US dollar, the metals were also undermined by another upside breakout in US treasury yields yesterday.
 
In a positive development, Indian demand reportedly showed some improvement early this week following last week's washout...[MORE]
 
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Morning Call
Wednesday, May 24, 2023

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

Quote Board

U.S. calendar features EIA Data, FOMC Minutes, FedSpeak due from Waller.

 

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Zaner Daily Precious Metals Commentary
Tuesday, May 23, 2023
Gold and silver prices remain on a liquidation watch, with silver breaking out down early and gold also nearing a downside breakout in the early going.
 
In addition to strength in the US dollar, the metals are also undermined by an upside breakout in US treasury yields.
 
Adding to the interest rate pressure on gold and silver prices are comments from the J.P. Morgan CEO who suggested investors should prepare for a 6.75% Fed funds rate...[MORE]
 
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