Monthly Archives: October 2017

  • Dip Buying Boosts Gold From Recent Downturn

    Gold's recent losses have inspired a rash of buying today, increasing all precious metals with it. The yellow metal is currently up to $1,282.69 per ounce.

    All precious metals are seeing gains today, with platinum rising 0.5 percent, silver up 0.3 percent, and palladium leading the charge with a 1 percent increase to $965.90 per ounce. Base metals are also on the up today, with a 0.5 percent average increase. Zinc is up just 0.2 percent, along with aluminum and lead. Nickel and tin are both up 0.6 percent. Three-month copper posted the most gains today - 1.3 percent increase - to $7,103 per ton.

    As for international markets, the German ten-year bund is unchanged at 0.43 percent. Yields for the U.S ten-year treasuries is weaker, down to 2.37 percent. The U.S. dollar is looking good at 93.78 on the currency's index. Pricing for spot Brent crude oil is up to $57.43 per barrel - a 0.23 percent increase.

  • Precious Metals Down on Stronger Dollar

    A generally stronger U.S. dollar is today's culprit for a weaker session for precious metals today. Gold prices are down about 0.3 percent today - to $1,276.27 per ounce.

    Palladium had also returned around 0.3 percent of recent gains today. Silver is down only slightly and platinum has bucked the trend, rising by 0.1 percent today. Base metals are generally looking good today, rising by an average of 0.4 percent. Lead is up the most at a 0.7 percent increase. Copper is up just 0.1 percent to $6,975 per ton.

    The U.S. dollar is firming up on its index at 93.77 - back into its recent range of 92.75-94.27. Spot Brent crude oil prices slipped to $57.83 per barrel, a loss of just 0.07 percent. The U.S. ten-year treasuries yield is up to 2.38 percent. The German ten-year bund is also stronger at 0.43 percent.

  • Gold Largely Unchanged Despite Slipping Dollar

    The U.S. dollar's recent consolidation has not helped many of the precious metals in today's trading session. Gold is essentially unchanged from yesterday.

    Platinum and silver are also essentially unchanged today, though palladium gained ground. Palladium is currently up 0.6 percent today (recovering from the massive 2.2 percent loss on Wednesday). Base metals, however, are doing well today. Nickel is up a whopping 2.3 percent to $11,770 per ton. Copper and, tin, and aluminum are also up between 0.1 percent to 0.4 percent. Three-month copper is at $7,005 per ton. Only zinc and lead are down today, with losses of 0.5 percent and 1.1 percent, respectively.

    Spot Brent crude oil prices are down 0.03 percent to $58.16 per barrel. The U.S. ten-eyar treasuries yield has firmed up to 2.34 percent. German's ten-year bund is also looking better at 0.39 percent. The dollar index has consolidated somewhat today, to 93.30.

  • With Dollar Rebounding Again, Gold Slips

    Precious metals are mostly on the downswing today as the U.S. dollar is again making a comeback. Gold is currently down to $1,283.75 per ounce.

    Only palladium posted gains today in the precious metals market, rising by 0.7 percent today to $985.90 per ounce. Platinum and silver are both down an average of 0.2 percent in today's session. Base metals are also looking down mostly, with copper losing 0.4 percent to $7,009 per ton. Other base metals are down an average of 0.6 percent, though tin and zinc are mostly unchanged from yesterday.

    While the U.S. dollar recently slipped to 92.75 on its index, the currency is currently up to 93.60, pushing the euro down to 1.1752. Spot Brent crude oil prices are looking good at $58.13 per barrel - up 0.14 from last session. The U.S. ten-year treasuries yield is up to 2.31 percent. The German ten-year bund is down to 0.36 percent.

  • Despite U.S. Dollar Consolidation, Gold Holds Tight

    In a relatively quiet trading day, precious metals are mostly unchanged today despite a U.S. dollar that had stopped its recent bleeding. Gold is currently little changed at $1,295.75 per ounce.

    Silver and platinum made like gold today and held steady, but palladium posted solid gains today, up 0.6 percent to $978.80 per ounce. Base metals are mostly mixed today, with aluminum and nickel up around 0.2 percent. Tin is also stronger at 0.3 percent. However, lead and zinc both dropped by a whopping 1 percent and 0.3 percent, respectively.

    The yield on U.S. ten-year treasuries is down to 2.32 percent. The German ten-year bund is also down at 0.43 percent. In international markets, spot Brent crude oil is looking good at $56.57 per barrel - an increase of 0.32 percent. The U.S. dollar is no longer losing ground and has consolidated today at approximately 93.00. The euro is also consolidating at 1.1837.

  • Dovish Fed Minutes Boosts Gold

    Most of the precious metals are up today thanks to the recent Federal Open Market Committee (FOMC) meeting minutes which are being seen by most market participants as relatively dovish. Gold is currently up around 0.2 percent to $1,295.09 per ounce.

    Also are up are silver and platinum, which both gained about 0.2 percent today. Only palladium is down today, slipping by 0.1 percent to $958.80 per ounce. Base metals are for the most part losing ground today, with lead and zinc both posting 0.5 percent losses. Three-month copper is essentially unchanged at $6,518 per ton.

    The yield on U.S. ten-year treasuries is down somewhat to 2.33 percent. The German ten-year bund is holding at 0.46 percent. Spot Brent crude oil slipped by 0.17 percent today to $56.56 per barrel. The U.S. dollar is pulling back as well, falling to 92.82 on its index. The euro is strengthened at 1.1877.

  • Recent Precious Metals Gains On Hold Ahead of FOMC

    Precious metals are split today as market participants await the release of FOMC meeting minutes. Gold is currently little changed, as is silver. The yellow metal is currently at $1,289.07 per ounce.

    In other metals, the platinum group metals (PGMs) are looking better today, with palladium rising by 0.5 percent and platinum up 0.2 percent. Yesterday was also a very strong day for all precious metals. Base metals are down an average of 0.7 percent today. Zinc lost the most with a 1.3 percent decline. Lead is down 1 percent, and nickel is down 0.7 percent. Tin and aluminum lost 0.5 percent each and three-month copper has slipped to $6,739 per ton today - a loss of 0.2 percent.

    Spot Brent crude oil is looking good on international markets - the commodity is currently up to $56.73 per barrel, an increase of 0.34 percent. The yield on U.S. ten-year treasuries is down to 2.36 percent while the German ten-year bund is stronger at 0.46 percent. The U.S. dollar is looking weaker again on its index, coming in at only 93.19.

  • With Dollar Continuing to Strengthen, Gold Down

    Gold prices have returned 0.1 percent today, down to $1,267.64 per ounce. Gold was the only precious metal to lose ground today as the U.S. dollar is continuing to rally.

    Silver is up to $16.593 per ounce. Platinum rose by 0.3 percent today to $913.30 per ounce, and palladium is up to $939 an ounce - an increase of 0.1 percent. Base metals are for the most part down today, with losses averaging at 0.2 percent. Lead lost 0.3 percent, and aluminum only lost 0.1 percent. Nickel and copper are both stronger, however, rising by 0.9 percent and 0.1 percent, respectively.

    The U.S. dollar is up to 94.04 on its index, steadily nearing its high from August of 94.15. The Dow Jones industrial average closed at a 0.5 percent increase today at 22,775.39. U.S. ten-year treasuries are up to 2.35 percent. Finally, spot Brent crude oil prices are essentially unchanged at $56.97 per barrel.

  • Gold, U.S. Dollar Both Consolidate Somewhat

    Precious metals are mostly unchanged today, with the exception of spot gold at $1,273.62 per ounce, down 0.1 percent. This is in strong contrast to yesterday which showed significant movement for precious metals. While silver lost 0.3 percent yesterday, palladium gained 0.8 percent. Platinum and gold both rose by 0.2 percent yesterday.

    Base metals also are posting few changes on this quiet trading day. Nickel is up 0.6 percent to $10,640 per ton. Tin lost 0.2 percent today, to $20,755 per ton. Three-month copper is up 0.1 percent to $6,517 a ton.

    The U.S. dollar consolidated somewhat today, closing at 93.54. The euro is also consolidating at 1.1755, along with the yen at 112.79. Spot Brent crude oil hasn't changed much at $55.72 per barrel. U.S. ten-year treasuries yields are up a bit at 2.33 percent. The German ten-year bund yield is looking better at 0.46 percent.

  • Dollar Strengthens, Continuing Pressure on Gold

    Today's trading was again marked by a gold and silver losing ground thanks to a stronger U.S. dollar. Silver lost 0.3 percent today, while gold is down 0.5 percent today, to $1,247.20 per ounce.

    However, the platinum is up 0.3 percent while palladium is somewhat better off at $934.10 per ounce. Base metals are following suit with gold and silver and are mostly weaker today. However, copper is the exception, rising by 0.3 percent to $6,518 per ton. Base metals lost an average of 0.2 percent today.

    Spot Brent crude oil slipped by 0.3 percent today, down to $56.52 per barrel. U.S. ten-year treasury yields are up to 2.36 percent, and the German ten-year bund is up as well at 0.48 percent. The U.S. dollar is climbing higher again, up to 93.42 today, just shy of its recent high of 93.67.