Monthly Archives: February 2017

  • Gold Continues Yesterday's Rally

    Gold and other precious metals found a surprising rally yesterday and have largely held onto gains today, with gold posting a one percent gain yesterday, and up 0.3 percent today to $1,252.87 per ounce.

    In Shanghai, base metals on the Shanghai Futures Exchange have slipped an average of 1.3 percent. Copper lost 1.9 percent to 47,660 yuan per ton. Tin is down 0.8 percent. In international markets, spot Brent crude oil slipped 0.1 percent to $56.38 per barrel. U.S. 10-year treasuries are at 2.3795 percent.

    In FX, the United States dollar index is slightly weaker today at 100.93. Yesterday's high was 101.72. The euro is up to 1.0590, while the Australian dollar is at 0.7716. Yen posted at 112.79, the sterling is at 1.2553.

    Precious metals are up an average of 0.5 percent today, with palladium gaining 0.8 percent.

  • Surging Dollar Holds Gold in Tow

    Gold and silver prices have been held in a tight range today as the U.S. dollar's recent growth spurt continues. The yellow metal is currently held at $1,235.10 per ounce.

    The U.S. dollar's index is holding high at 101.48, and had been holding other global currencies in line. The euro is at 1.0526 versus the dollar, the sterling at 1.2493, the yen at 113.42, and the yuan at 6.8632. Most currencies are consolidating, though the peso is in a rebound state.

    In international markets, the Brent crude oil prices are up 0.3 percent to $56.78 per barrel. Ten-year U.S. treasuries are yielding at 2.4523 percent. Palladium is up 0.6 percent. Platinum rose 0.2 percent today.

  • Stronger Dollar Pushes Gold Down

    Gold prices have edged lower today as the U.S. dollar is up. The precious metal is currently down 0.2 percent to $1,234.18 per ounce.

    For FX, the dollar index is looking good again, having come in recently at 101.60. More hawkish members of the U.S. Federal Reserve are holding tight to a March rate increase, saying it is still a possibility.

    Japan's manufacturing PMI is up from 52.7 to 53.5 despite industry activity slipping o.3 percent. Also released today was data on the French CPI, borrowing in the United Kingdom, and inflation there as well.

    Platinum is unchanged, palladium is up 0.1 percent, and silver slipped 0.3 percent.