Zaner Precious Metals Report

Monday, May 20, 2019 12:11:59 PM America/Chicago

Gold and silver ended up near unchanged overnight after pressing a bit lower in the wake of last week's selloff. Both markets did enough technical damage last week to suggest they could continue to see pressure for the first part of this week.

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Zaner Precious Metals Report

Friday, May 17, 2019 10:19:16 AM America/Chicago

Gold prices were mostly steady overnight following the steep selloff on Thursday. Chinese state media has gotten more bellicose, talking about how China may have to dig in for a long trade war and suggesting that the nation may have no interest in continuing US trade talks for now.

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Zaner Precious Metals Report

Thursday, May 16, 2019 9:55:46 AM America/Chicago

Gold was slightly lower overnight and looked poised to test yesterday's lows and retrace more of Monday's gains. This was despite news about the US banning Huawei equipment from US networks, which raised concerns about a flare-up in trade tensions.

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Zaner Precious Metals Report

Wednesday, May 15, 2019 11:09:41 AM America/Chicago

One could argue that the 3-month correction has run its course and that gold is poised to resume the uptrend that began with the August 2018 low. The market seems to be ready to respond positively to elevated risk concerns, whether they come from trade disputes or from saber-rattling in the Middle East.

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Zaner Precious Metals Report

Tuesday, May 14, 2019 10:36:22 AM America/Chicago

It could be that the markets got a bit over-hyped with the traded tensions between the US and China on Monday. It has been suggested that the latest round of tariffs that China announced yesterday are not expected to have much impact beyond those markets that have already been affected.

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Zaner Precious Metals Report

Monday, May 13, 2019 12:12:58 PM America/Chicago

The general attitude regarding the trade deal  had turned more pessimistic since Friday, but gold didn’t rebound until China announced retaliatory tariff hikes his morning.

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Zaner Precious Metals Report

Friday, May 10, 2019 10:22:38 AM America/Chicago

While the gold market started out Thursday morning with a lot of upside promise, the gains ultimately proved to be less than impressive. In fact, given that the US dollar tracked lower this week and more importantly forged a downside breakout on its charts yesterday, the modest gains in the gold market Thursday suggest that the market might not be poised to streak higher.

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Zaner Precious Metals Report

Thursday, May 9, 2019 11:25:44 AM America/Chicago

The gold market today starts out with a slightly positive track with news flow on the trade situation favoring uncertainty and the dollar posting very minimal weakness. Clearly the gold focus this week has been centered on safe haven from trade and not on the ebb and flow of the dollar.

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Zaner Precious Metals Report

Wednesday, May 8, 2019 11:32:44 AM America/Chicago

In our opinion the gold market has not benefited enough yet from recent bullish World Gold Council demand figures and the market also hasn't shown that much strength off noted increased anxiety in the Middle East.

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Zaner Precious Metals Report

Tuesday, May 7, 2019 1:45:51 PM America/Chicago

Certainly fears of a strong Dollar remain limiting although not a definitive force in the gold trade to start this week. In fact with gold not gaining significant ground off serious threats to trade progress earlier this week and more specifically failing to rally definitively off signs of rumors that Iran might retaliate against aggressive US military deployment in waters off its shores, it is clear that safe haven interest early this week is not a major item for the gold trade.

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