Monthly Archives: June 2017

  • With Other Markets Down, Gold Inches Higher

    Today sees precious metals stronger overall this Wednesday, June 28th, with gold currently coming in at $1,252.14 per ounce, up 0.3 percent and posting its second consecutive day of gains.

    Precious metals are averaging 0.5 percent increases today, and base metals are relatively stable across the board, generally falling between up or down 0.3 percent. Aluminum and zinc are both down, but copper, lead, and tin are stronger today.

    In international markets, spot Brent crude oil is up to $4652 per barrel, an increase of 0.8 percent today. The bond yield on U.S. ten-year treasuries is up significantly from yesterday's 2.13 percent to 2.21 percent, up thanks in large part to the bullish statements made by Mario Draghi, president of the European Central Bank.

  • Gold Steadies Following Monday's Dip

    While yesterday saw a steep decline in the precious metals markets (gold fell 1.1 percent, silver closed at a 0.8 percent loss), precious metals are stronger on Tuesday, June 27th, with gold gaining back 0.2 percent to $1,245.57 per ounce.

    In other metals, silver also came up 0.2 percent today. Platinum rose 0.6 percent following yesterday's loss of 1.3 percent. Palladium is essentially unchanged. In base metals, copper, lead, aluminum, and tin prices slipped 0.2 percent on average. Three-month copper prices are at $5,789 per ton. Nickel and zinc are up 0.6 percent and 0.2 percent, respectively.

    Spot Brent crude oil prices are steady at $45.89 per barrel. The yield for U.S. ten-year treasuries weakened by 2.13 percent. The Dow Jones industrial average is up 0.1 percent; the Euro Stoxx 50 rose 0.5 percent today. The dollar index seems to be consolidating, at 97.34. The euro is trading strongly at 1.1196.

  • Market Stays Quiet, Gold Steady

    Precious metals, including gold, are essentially unchanged today after a similarly quiet Tuesday session. Spot gold is up slightly to $1,246.10 per ounce.

    Platinum is down about 0.1 percent, and silver and palladium are up slightly along with gold. Base metals are also steady today, with zinc up 0.2 percent and tin at a 0.3 percent loss. Copper is trading at $5,657 per ton - down 0.2 percent today. Only 4,009 lots have traded on this relatively unexciting trading day.

    Spot Brent crude oil prices are down slightly to $45.89 per barrel. Yields for U.S. ten-year treasuries slipped 2.16 percent. The Dow Jones industrial average is trading at 21,467.14 - a loss of 0.3 percent. The dollar index is rising past its recent high of 97.78 to a total 97.87 today.

  • Gold, Safe-Haven Demand Down

    Spot gold prices are down 0.1 percent today, to $1,252.98 per ounce. The pricing reflects a market that is showing safe-haven demand slipping slightly in general.

    In other metals, palladium is up 0.4 percent today, showing the dip-buying coming up after the metal's recent pricing correction. Silver and platinum are essentially unchanged. Zinc is up a whopping 0.8 percent, leading a good day for base metals, which rose an average of 0.3 percent today. Nickel is up 0.5 percent and tin is up 0.4 percent.

    The dollar index is getting stronger, coming in at 97.54 today. The euro is at 1.1142 versus the dollar. In international markets, the yield of U.S. ten-year treasuries is up again today, to 2.17 percent. Pricing on spot Brent crude oil is also up, rising 0.4 percent today, to $46.95 per barrel.

  • Gold Takes Defensive Turn

    Following the decidedly hawkish decision by the U.S. Federal Open Market Committee (FOMC) to raise the interest rates, spot gold prices have taken a more defensive turn, dropping to $1,254 per ounce.

    Stocks across the world fell yesterday from record highs in New York. Commodities also slipped, with the U.S. crude oil contracts falling under $45 per barrel for the first time this year. The yield on U.S. ten-year treasury bonds are up to 2.15 percent from yesterday's new low.

    The euro is down to a new low for June today against the U.S. dollar, coming in at only $1.1154. The U.S. dollar is up today after the Federal Reserve brought the interest rate up to 1.25 percent.

  • Palladium Consolidates Gains, Gold Holds Steady

    Spot gold prices are up 0.2 percent to $1,269.06 per ounce today. Other precious metals are also posting gains on an overall good trading day.

    All precious metals are up an average of 0.4 percent today, with spot platinum leading - the precious metal is up 0.7 percent. Silver gained 0.5 percent today, and palladium is essentially unchanged.

    In international markets, spot Brent crude oil prices rose by 0.2 percent today, up to $48.31 per barrel. Yield on U.S. ten-year treasuries is 2.2 percent ahead of the Federal Open Market Committee (FOMC) rate decision. The dollar is down again today, slipping to 96.90. The euro is up to 1.1220.

  • Gold Consolidates as Palladium Gains

    Gold prices are down approximately 0.8 percent to $1,267.06 per ounce. Silver is also down, losing a whopping 1.8 percent to $17.11 an ounce.

    Platinum gained 0.7 percent to $944.20 an ounce. Palladium was the big winner today, up a staggering 4.6 percent in one trading session to $898.80 per ounce. In base metals, many took losses, with zinc, lead, copper, and aluminum all down 0.2 percent to 0.5 percent, approximately.

    The dollar index is returning its late gains last week, slipping from Friday's 97.50 to 97.14. The euro is posting at 1.1214. The Dow Jones is up 0.4 percent to 21,271.97. Spot Brent crude oil lost 0.2 percent to $48.35 per barrel. U.S. ten-year treasuries are stronger, up 2.22 percent.

  • Gold Down At End of Week

    Gold is ending the week at a small loss following an otherwise impressive week wherein the precious metal hit a new high for the year on Tuesday. Gold is currently at $1,266.60 per ounce.

    Silver is up 0.2 percent, and palladium rose 0.9 percent. All base metals have gained an average of 0.6 percent. Lead is up a full percentage point, and aluminum rose 0.3 percent. Three-month copper prices are up 0.4 percent to $5,645 per ton.

    Spot Brent crude oil prices rose 0.5 percent to $48.40 per barrel. U.S. ten-year treasuries are also stronger, up 2.18 percent. The U.S. dollar is still held down by recent data and geopolitical events, and is 96.62 on its index. The euro is stronger at 1.1268. Sterling is up to 1.2968.

  • Gold Skyrockets Amidst Low US Dollar

    Gold prices hit their highest level today since the U.S. election of Donald Trump on November 8th, shooting up more than 1 percent to $1,298.80 per ounce. So far in 2017, gold is up 12.8 percent.

    Gold prices are being given a significant boost thanks in large part to a very poor U.S. jobs report that was released on Friday. The report also shook the U.S. dollar and overall expected GDP growth this year, bolstering not only precious metals, but also equity markets which have been posting record level gains since Friday.

    In general, safe-haven markets are seeing strong growth this week as geopolitical concerns have escalated over the weekend. Greater discontent between Saudi Arabia and Qatar is drawing attention from the U.S. and regional powers. Further, multiple terrorist attacks over the weekend in the UK are increasing overall concerns in the geopolitical arena.

  • Spot Gold Holds Strong Stance

    While gold prices are down around 0.2 percent today, the precious metal is overall holding on to its current position. In other precious metals, silver is also down 0.2 percent today, and platinum is unchanged.

    Base metals are generally down across the board, with all metals slipping somewhere between 0.1 percent and 0.3 percent today. Three-month copper prices are down 0.3 percent to $5,677 per ton. Zinc is down 0.2 percent to $2,112 per ton.

    In markets, pricing on spot Brent crude oil rose 0.4 percent to $51.15 per barrel. U.S. ten-year treasuries is down 2.21 percent, suggesting some risk-off behavior. The Dow Jones industrial average lost 0.1 percent to 21,008.65. The U.S. dollar is down to 97.03, following Tuesday's peak of 97.78 for the week. The euro is up to 1.1240.