Monthly Archives: March 2017

  • Gold Prices Slip Slightly

    Today saw precious metals split, with silver and gold ending in negative territory. The yellow metal is currently down 0.2 percent to $1,250.34 per ounce.

    Silver closed at -0.4 percent today. Platinum is up, however, 0.6 percent to $957.40 an ounce. Palladium rose 0.3 percent to $788.70 an ounce. In base metals, aluminum is down 0.2 percent, and nickel, copper, and lead are all down 0.5 percent. Copper is closing at $5,877 per ton today.

    Equities also were on mixed ground today. The Euro Stoxx 50 is up 0.3 percent, but the Dow Jones industrial average is at a 0.2 percent loss today. Spot Brent crude oil prices are up 0.1 percent to $52.48 per barrel. 10-year U.S. treasuries yields are at about 2.39 percent.

    The dollar index is continuing to rebounds, and is up to 100.04. The euro slipped slightly to 1.0754. The yen is relatively unchanged at 111.14. The sterling and Austrialian dollar are both up, to 1.2440 and 0.7659 each, respectively.

  • Palladium Reaches Highest Level Since 2015

    Palladium broke its recent high of $797 per ounce to a mighty $809 per ounce today, the highest level seen since May 2015. Gold, however, lost 0.2 percent to $1,243.05 per ounce.

    Silver and platinum also found themselves slightly weaker this trading session. Similarly, the base metals markets are also slightly down, posting average losses of 0.3 percent. Copper fell a whopping 0.6 percent to $5,817 per ton.

    In FX, the dollar index has returned from recent lows, but is still posting a 99.89, below the 100 level and considered generally weak. The euro is posting at 1.0765, the sterling slipped to 1.2475, and the yen gained to 111.47.

  • Precious Metals Consolidate

    Precious metals are all slightly down today, including gold, as the market returns minor gains made yesterday. Gold is currently down 0.4 percent to $1,229.42 per ounce.

    Today saw precious metals slip an average of 0.5 percent across the board, while base metals are posting at a 0.4 percent average decline. Platinum lost 1 percent to $959.50 an ounce. Silver is down 0.5 percent, and palladium is relatively unchanged. Copper's three-month prices fell today by a whole percentage point to $5.804 per ton.

    In other markets, equities were slightly diminished today, with the Dow closing at around 9 points lost. Euro Stoxx 50 slipped 0.3 percent. The Nikkei is down 0.3 percent. However, the Hang Seng rose 0.4 percent today, the CSI 300 gained 0.2 percent, and the Kospi is up 1 percent.

  • Oil Sinks, But Gold Maintains $1200 Mark

    While Friday saw the spot price of gold fall to a five-week low under the $1200/ounce mark, the precious metal is holding on this week to the $1200 point, though gold did rise as high as $1207 earlier today before retreating back.

    As investors await the decision of the Federal Reserve tomorrow in terms of raising the United States interest rate, other markets are faltering. Silver slipped again, falling below its $17 per ounce mark. Crude oil is also down today as well as other energy markets. Crude oil is now under $45 per barrel, having slipped 13% since February 23rd.

    U.S. Treasury bond yields are also down today, with 10-year yield bonds down from 20-month high above December's 2.60 percent high to 0.74 percent per year.

  • Gold Down 7th Consecutive Day

    Gold again found itself in negative territory today as investors hold out for an interest rate increase and the release of the Non-Farm Payroll report.

    Also down today is the U.S. dollar index, and world-wide stock markets. Commodity prices are down. Silver slipped again to a new 5-week low - the precious metal has fallen nearly 7 percent from where it sat at end of February. The euro is down 3 percent versus the dollar since the beginning of the previous month.

    Brent crude oil is currently facing "pivotal support at $50" per barrel, according to the French investment and bullion trading market bank Societe Generale. Gold is down nearly 5 percent from February 27th's 3.5 month peak that was over $1263 per ounce.

  • Anticipated Fed Rate Increase Holds Gold

    Precious metals made a slight recovery from the average 1 percent loss yesterdayn but were held in a tight range today as market participants await the likely U.S. interest rate increase. Gold is currently up 0.1 percent to $1,217.78 per ounce. Palladium is also up, posting a 0.5 percent increase at $772.60 per ounce.

    Today shows the prices of base meals up also, with copper, lead, and zinc up anywhere from 0.2 percent to 0.4 percent each. Three month copper prices are posting at $5,801 per ton. This is an improvement on yesterday's overall losses in the average 1.1 percent territory.

    In other markets, spot Brent crude oil slipped a bit today to $55.50 per barrel. U.S. 10-year treasury is 2.51 percent stronger today. The U.S. dollar index is looking better today at 101.75 as investors anticipate an interest rate increase in the next week.

  • Gold Holds Steady Base

    Precious gold is relatively unchanged today at $1,226.11 per ounce.

    Other precious metals held relatively unchanged as well, with the exception of palladium which rose 0.3 percent. Following yesterday;s average losses of 1.1 percent, precious metals are holding today. In base metals, nickel is down to $10,985 per ton, a loss of 0.8 percent. Copper is up 0.2 percent to $5,868 per ton.

    Equities lost ground today, with the Euro Staxx down 0.5 percent, and the Dow Jones industrial average losing 0.2 percent. The Nikkei is down 0.2 percent, the Hang Seng rose 0.4 percent, the CSI 300 gained 0.1 percent, and the ASX200 is up 0.3 percent. The Kospi also posted wins, closing up 0.6 percent.

    The dollar index is up today to 101.67 per ounce. Spot Brent crude lost 0.2 percent to $55.84 per barrel. The U.S. 10-year treasuries came in at 2.49 percent.

  • Gold Slips Prior to Fed Speech

    Gold prices slipped somewhat today along with other precious metals as investors await the upcoming speech on U.S. Federal Chair Janet Yellen. Gold was last down 0.3 percent to $1,231.40 per ounce.

    In FX, the euro is weak at 1.0525, as is the sterling at 1.2259 and the yen at 114.17. The Australian dollar is also down at 0.7562. The U.S. dollar index found itself slightly consolidated today at 102.01. The yuan is again weakened at 6.8927.

    Base metal prices are balancing themselves out, with many posting gains at the end of this week, up 0.4 percent across the board. Lead is up 0.1 percent. Nickel is up 0.9 percent to $10,910 per ton. Three-month copper is up 0.2 percent to $5,937 per ton.

    Palladium is up 0.4 percent. Platinum slipped 0.1 percent. Silver is down 0.3 percent.

  • Despite Strong Dollar, Gold Holds Steady

    Spot gold prices slipped 0.2 percent today to $1,244.45 per ounce, showing a relatively strong consensus despite a strong U.S. dollar.

    The aftermath of U.S. President Trump's speech last night left the market in a generally bullish state. Further, generally positive data out of China show a manufacturing PMI in the positive. However, the EU's manufacturing PMI were unremarkable at 55.4, and the ISM manufacturing PMI jumped from 56 to 57.7.

    Palladium is up 0.8 percent. Silver is up 0.5 percent. Platinum lost 0.4 percent today. Copper is up at $6,019 per ton, though the rest of the base metal contingency is down today, with overall losses at around 0.3 percent.

  • Gold Down Slightly In March

    Beginning March 1st, precious metals seem somewhat split with gold weaker and other precious metals up an average of 0.5%. Spot gold prices are currently at $1,243.71 per ounce.

    Nickel and tin have both slipped somewhat today, while other base metals are stronger. Zinc leads the charge with a 0.9% increase on the markets to $2,848 per ton. Lead is up 0.6 percent to $2,263 per ton. Aluminum and copper are up 0.1 percent and 0.3 percent, respectively. Three month copper prices are coming in at $6,000/ton.

    Aluminum has risen 1.3 percent. Brent crude oil prices are slightly weaker today at $56.38 per barrel. The yield on U.S. 10-year treasuries is up 2.413 percent. The dollar index for the U.S. came in at 101.71, which weighed on other currencies, with the euro at 1.0540, the yen at 113.60, and the sterling at 1.2356.