Monthly Archives: July 2017

  • Despite Consolidation, Gold Holds Tight

    Today, Friday July 28th, precious metals are relatively split. Gold is currently down 0.1 percent to $1,257.91 per ounce.

    Platinum jumped up 0.3 percent today, up to $925.10 per ounce. Silver and palladium, however, went the direction of gold are are down about 0.3 percent today. This follows a Thursday that saw palladium making gains of 0.1 percent while the rest of the precious metal complex lost ground. Base metals are are also consolidating before the weekend, down around 0.4 percent on average this morning.

    In international markets, spot Brent crude oil prices lost 0.5 percent today but are still holding prices high, at $51.36 per barrel thanks to a loss in inventories. The yield for U.S. ten-year treasuries posted at about 2.30 percent today. The U.S. dollar index is up from a recent fresh low for the year on Thursday (93.15), and it currently at 93.80. The euro is at 1.1693.

  • Recent Rebound Is Halted For Gold

    Today saw gold and silver's recent recoveries taking a pause. Gold is currently relatively unchanged at $1,255.60 per ounce. Silver is also stuck at $16.46 per ounce.

    Monday was a relatively uneventful day for bullion, but the PGMs are up 0.6 percent today. Platinum, however, lost 0.5 percent today, and palladium lead with a gain of 0.7 percent. Base metals are also up today by an average of 0.5 percent. Again tin is the outlier, losing 0.3 percent to $20,190 per ton. Copper and nickel are up 0.9 percent, with copper coming in at $6,088 per ton.

    In international markets, spot Brent crude oil is up 0.5 percent to $48.88 per barrel. Yields on the U.S. ten-year treasuries is holding fast at 2.25 percent. The dollar index is down again today, coming in at 93.82, allowing the euro to post a strong 1.1665. Sterling in steady at 1.3039, and the yen is strong at 110.89.

  • Gold Up At End of Week

    Precious metals, including gold, are up across the board today - around 0.3 percent - thanks to a weakened U.S. dollar and an uncertain political climate. The yellow metal is currently up to $1,246.44 per ounce.

    Base metals are up around 0.5 percent today. Aluminum rose 0.4 percent today, and zinc is up 0.7 percent. Three-month copper gained 0.6 percent to $6,009 per ton. Only tin went the opposite direction, dropping by 0.1 percent to $20,090 per ton.

    As for international markets, spot Brent crude oil prices saw gains today, rising to $49.36 per barrel, or 0.2 percent in gains. Yields on U.S. ten-year treasuries is on its second day of easing, to 2.25 percent. The Dow Jones industrial average slipped 0.1 percent. The dollar slipped to 94.00, a new low not seen since last June, 2016.

  • Gold Loses Recent Rebound

    Gold and silver are both down today, around 0.3 percent, coming in as a second day in a row for consolidation. Spot gold is currently at $1,238.46 per ounce.

    PGMs are also down, at around 0.8 percent. Base metals are up on average around 0.4 percent today. Zinc rose by 0.2 percent, along with tin. Lead rose the most, at 0.7 percent. Three month copper prices are posting at $5,983 per ton, an increase of 0.3 percent.

    In international markets, the price per barrel for spot Brent crude oil has gained ground - currently it's up 0.2 percent to $49.65. The yield for ten-year treasuries in the U.S. is lighter at 2.26 percent. The Dow Jones industrial average rose 0.3 percent today. The dollar index is still fairly weak at 94.92 but is at least maintaining above Tuesday's low of 94.48.

  • Gold Stable Despite Recent Yellen Comments

    Despite today's comments from Federal Reserve Chair Janet Yellen, gold is holding tight to its recent gains from yesterday, showing little change today. This follows a week marked by losses that saw gold near the $1200 area.

    Janet Yellen, in answering questions from the Senate Banking Committee, seemed to backtrack on her assertion last month that we would not see another financial crisis "in our lifetime." Instead, she states today that "I think we can never be confident that there won't be another financial crisis," despite saying the opposite only two weeks ago.

    Adding to this uncertain statements, Yellen asserted that the uncertainty about the Trump administration's fiscal agenda was "quite high," and brought into doubt the likelihood of 3% growth. Yellen still believes that the economy is "robust," though the Federal Reserve anticipates growth between 1.8 percent and 2.2 percent through 2019.

  • Dollar Dips, Allowing Gold to Recover

    Today saw a recovery in precious metals as the U.S. dollar slipped slightly. Gold is up 0.2 percent to $1,219.59 per ounce.

    Gold showed the least gains today out of the precious metal complexes, which posted average increases of 0.6 percent today, Wednesday July 12th. Palladium led the group, rising by 0.9 percent to $856.50 per ounce. Base metals also posted increases, with average gains of 0.3 percent. Copper rose the most, up 0.5 percent to $5,906 per ton.

    In international markets, the yield on U.S. ten-year treasuries eased to 2.35 percent. Spot Brent crude oil rose 0.1 percent to $48.15 per barrel. The Euro Stoxx 50 slipped 0.4 percent today while the Dow Jones industrial average posted relatively unchanged at 21,409.07. The U.S. dollar's minor recovery yesterday has been lost, with the currency slipping to 95.55 on its index. The euro is looking stronger because of it, up to 1.1487, a new high for the year.

  • Gold, Silver Prices Continue Downwards Trajectory

    Most of the precious metals spent today continuing a downward trend that began yesterday following a tumultuous G-20 meeting in Europe on Friday. Gold is currently down to $1,212.30 per ounce.

    Following gold's losses are platinum and silver, posting prices down on average around 0.3 percent. Only palladium posted gains today, bucking the trend and rising by 0.5 percent. Base metals are more subdued, with lead up 1.1 percent, and aluminum down 0.8 percent. However, steel is up a mighty 3.4 percent.

    The dollar index is up slightly to 96.16. The euro consolidated somewhat to 1.1386, with the sterling following suit at 1.2881. Pricing on spot Brent crude oil is up 0.2 percent to $47.09 per barrel. Yields on U.S. ten-year treasuries are holding tight at 2.38 percent.

  • Gold, Silver Consolidating In New Week

    Following its close on Friday at $1,212.40 per ounce, gold has slipped somewhat today, down to an opening of $1,207 per ounce this morning. The price for silver has also dwindled somewhat after close of last week, with the precious metal closing on Friday at $15.56.

    The U.S. dollar index was up slightly on Friday's 95.98 to 96.15 today. The euro is stronger today, up to $1.1408 following Friday's $1.1414. The yen slipped slightly today to 114.21 from last week's close at 113.70. The yuan is stronger, up to 6.8034 following a 6.7990 on Friday. The pound sterling slipped from Friday's $1.2897 to $1.2873 today.

    Much of today's shakeups across various markets are attributed to a highly dramatic G-20 meeting on Friday, which is widely thought to be the most dramatic on over a decade, punctuated by the U.S. in sharp contrast with other major players, notably the E.U. and China.

  • Gold Steady Despite Geopolitical Tension

    Following the recent missile test in North Korea, gold has surprisingly remained relatively unchanged today, July 5th, coming in at $1,225.24 per ounce.

    Other metals are mixed, with palladium gaining 0.4 percent and silver rising 0.1 percent. Platinum slipped by 0.1 percent today. Base metals are up an average of 0.2 percent today. Zinc is up the most, gaining 0.4 percent today, and tin slipped by 0.2 percent. Copper rose 0.2 percent today to $5,900 per ton.

    Spot Brent crude oil pricing is down to $49.53 per barrel, a loss of 0.2 percent. The yield for U.S. ten-year treasuries has lightened up by two basis points to 2.33 percent. The dollar index is holding its most recent rebound at 96.19 and is for not staving off a greater downward trend. The euro consolidated some today to 1.1359.