Monthly Archives: April 2017

  • Weak Dollar Helps Gold Maintain Ground

    Today saw the prices for spot gold holding relatively stable at $1,263.25 per ounce. A generally weaker dollar is seen as the culprit.

    Global markets are already acting in anticipation of Emmanuel Macron becoming the next French president. Traditionally haven trades have begun to lose their luster. Silver prices are relatively unchanged today at $17.75 per ounce. The PGM's are up by a 0.4 percent average. Yesterday saw silver drop 1.7 percent, platinum down 0.8 percent, and gold handing back 1 percent. Palladium again was the odd man out at a 0.4 percent increase.

    The dollar index has fallen low enough to set a new low for the year at 98.69 yesterday. The yuan came in at 6.8856 today. The euro is breaking higher at 1.0946. Sterling is under resistance at 1.2835. The yen came in at 111.35.

  • After French Election, Spot Gold Dips

    Gold prices were negatively impacted today as the results of the first round of French presidential elections have left the country with Marine Le Pen and Emmanuel Macron as the leading contenders for the election on May 7th. Gold is currently down 0.8 percent to $1,274.23 per ounce.

    In other metals, silver slipped 0.4 percent. Palladium also fell today, though only by 0.2 percent. However, palladium alone found itself in positive territory today, up a whopping 1 percent to $799 an ounce. Tin dropped 0.9 percent, and copper is up 0.3 percent to $5,652 per ton.

    In equities, Euro Stoxx 50 is holding relatively steady. The Dow Jones industrial average is down 0.2 percent to 20,547. The Chinese CSI 300 dropped 1.4 percent. The Nikkei is up 1.5 percent. The Hang Seng is up 0.1 percent, and the ASX 200 rose 0.2 percent.

  • Recent Gold Highs Continue To Hold

    Spot gold is holding steady at recent highs, currently sitting at $1,289 per ounce.

    In other metals, silver prices have slipped slightly to $18.21 per ounce, down 0.4 percent. Other precious metals are up around 0.5 percent. This follows are relatively lackluster day yesterday which saw silver prices closing at a 1.1 percent loss, and palladium prices down 2.5 percent.

    The dollar index fell to a low of 99.49 yesterday, led by weaker oil and concerns over the possibility of inflation expectations dwindling. The Dow Jones industrial average lose 0.6 percent today to 20,523. U.S. ten-year treasuries are also down today, slipping 2.19 percent.

  • Gold Returns From 5-Month High

    While last week saw spot gold prices touch their highest level in five months, the precious metal has returned some, but not all, of those gains. Gold is currently up 0.05 percent to $1,285.86 per ounce. Its previous high was up to early-November levels at $1,295.42.

    In other markets, the Nasdaq is up 30 points (0.52%) following three consecutive days of losses. The European markets were noticeably silent today as they were closed for Easter Monday observance.

    WTI crude oil has slipped about $0.15 to $53.00 per barrel. In the treasury, the two year treasury has fallen 2.4 bp. The 5 year has also fallen 2.4 bp. Ten year has slipped just 1.6 bp, and the 30 year is steady.

  • New Geopolitical Concerns Boost Gold

    Yesterday saw the prices for spot gold jump a mighty 0.9 percent to $1,283.92 per ounce, along with platinum's 0.4 percent increase following increased geopolitical anxiety as the United States continues to take action in the Middle East and stir concerns regarding its relationship with Russia.

    Equities are down slightly across the board as the Euro Stoxx 50 was down slightly, followed by the Dow Jones industrial average's loss of 0.3 percent. The Nikkei lost 0.7 percent, and the ASX 200 is down 0.8 percent.

    The dollar index dropped significantly following Donald Trump's commentary that he felt the U.S. dollar had gained too much since his election victory. The index has since fallen to 100.08. The euro is up slightly at that, to 1.0672. The Australian dollar and sterling are also up, to 0.7594 and 1.2570 each, respectively. The yen is up to 109.04.

  • Gold Jumps Higher on Tuesday, Fueling Sentiment

    Tuesday saw the prices for spot gold leap up more than one percentage point, beating a five-month high to $1,272.75 per ounce.

    Market participants are allowing themselves some measured positivity as the precious metal has been showing promise as of late. Phil Strieble, chief market strategist for Chicago-based RJO Futures had the following to say: "I think we can see a green shootout all the way to $1,350, and we can easily break through $1,300 now."

    Continuing, Strieble stated "It's wonderful we broke through that high from the other day, we just need a good strong finish to the day." Previously, safe-haven bids into gold have found themselves petering out shortly afterwards, but analysts are feeling that this recent gain may be a longer-term one.

  • Gold Gains Unreliable

    Spot gold prices are up a further 0.1 percent today to $1,254.44 per ounce, following last Friday's increase of 0.2 percent. However, market analysts are uncertain of whether the precious metal will be able to hold onto its recent gains in the long term.

    In other metals, palladium slipped 0.4 percent to $797.80 per ounce. Platinum and silver prices are essentially unchanged. Zinc is up slightly, as is lead. However, copper and nickel are down 0.6 percent and 0.5 percent, respectively. Three-month copper came in at $5,813 per ton.

    In equities, the Euro Stoxx 50 is up 0.2 percent, but the Dow Jones industrial average posted slight losses today following less than stellar non-farm employment numbers. The dollar index is up to 101.20. The euro is holding on to 1.0590. The sterling dipped to 1.2390, and the yen is looking strong at 111.38.

  • Strong US Dollar Puts Pressure on Gold

    Spot gold prices are down slightly in the light of a firmer U.S. dollar and positive unemployment data. The precious metal is currently down 0.24 cents to $1,251.75 per ounce, down from its previous high of $1,258.96.

    Yesterday's gains for gold seem to have been short lived following comments on Wednesday made by House Speaker Paul Ryan that tax reform efforts may be difficult to implement. This also helped boost silver up 0.3 percent (5.9 cents) to just under $18.25 an ounce.

    In other commodities, oil prices are at a one-month high today. Brent crude futures are up 53 cents - one percent - to $54.89 per barrel. U.S. West Texas Intermediate crude futures are up 1.1 percent - 55 cents per barrel - to $51.70.