Monthly Archives: February 2018

  • Tuesday Session Sees Precious Metals Up

    Precious metals are mostly in the positive today, following a solid Monday trading as well. Gold is currently up 0.1 percent to $1,333.86 per ounce.

    Yesterday's trading session was also a strong one, with average gains in the precious metals complex of 0.7 percent. Today saw rises in the platinum group metals, with both up by 0.2 percent today - platinum at $999.30/ounce, and palladium up to $1,061.50/ounce. Silver is steady at $16.63 per ounce today. Base metals also posted gains in all metals, with an average increase of 0.4 percent. Aluminum led the group with a 0.7 percent increase.

    In other markets, the U.S. ten-year treasuries yield is essentially unchanged at 2.86 percent, while the German ten-year bund is steady at 0.66 percent. The U.S. dollar continues its recent bout of consolidation, coming in at 89.79 on its index. Pricing on spot Brent crude oil are down somewhat at $67.32 a barrel - a loss of 0.33 percent.

  • Gold Returns Thursday's Gains

    While yesterday was a day of general and considerable gains for the precious metals complex, today sees just gold handing back a bit of yesterday's wins. The yellow metal is down to $1,326.53 per ounce today, a loss of 0.4 percent.

    This Friday session is showing another good trading day for the rest of the precious metals complex today, with silver and platinum maintaining their 0.3 and 0.5 percent gains from yesterday, and palladium rising an additional 0.2 percent. This is following Thursday's momentous 1.8 percent boost for palladium. Base metals are mixed today, with an average loss of 0.2 percent across the board.

    In the non-metal world of trading, the U.S. ten-year treasuries yield is softer at 2.92 percent. The German ten-year bund is also weaker at 0.70 percent. Pricing on spot Brent crude oil are up 0.11 percent to $66.24 per barrel. The U.S. dollar is consolidating again after its recent rebound. The currency is currently down to 89.99 on its index.

  • With Dollar on the Rise, Precious Metals Struggle

    Following the U.S. dollar's fourth consecutive day of growth, the precious metals complex has been struggling to keep up. Spot gold pricing is at $1,328.05 per ounce, and precious metals are down an average of 0.2 percent today.

    While gold is not holding its challenges to its recent highs, platinum has been maintaining its position fairly well. However, palladium has been losing ground, as has silver. Base metals are somewhat mixed today, with most down somewhere between 0.1 percent and 0.5 percent. However, tin and nickel pricing is looking up, with gains for both at +0.4 percent.

    Spot Brent crude oil pricing is down 0.52 percent to $64.67 per barrel. The U.S. ten-year treasuries yield is looking good at 2.91 percent. The German ten-year bund is somewhat weather at 0.72 percent. The U.S. dollar's recent rebound has continued for another day - the currency is currently at 89.89 on its index.

  • With Lunar New Year Approaching, Precious Metals Grow

    Precious metals are looking stronger for the third consecutive day today. Spot gold is currently up 0.2 percent to $1,333.95 per ounce.

    While yesterday saw precious metals rise by a whopping 0.7 percent, today's gains averaged out to 0.3 percent for the complex. Base metals are consolidating somewhat after yesterday's solid session. Nickel is up the most, rising by 0.7 percent to $13,520 an ton, but the majority of the base metals averaged anywhere from 0.3 percent gains to -0.2 percent losses. Volume was only 7,611 lots traded this morning.

    In non-metal markets, the German ten-year bund is milder at 0.73 percent, as is the U.S. ten-year treasuries yield, which came in at 2.83 percent today. Pricing on spot Brent crude oil is up by 0.13 percent, coming in at $62.63 per barrel. The U.S. dollar is somewhat weaker today, slipping to 89.59 on the currency's index.

  • Tuesday Sees Precious, Base Metals Gain Ground

    Spot gold is up 0.2 percent today to $1,325.63 per ounce. This is the second consecutive day of growth for the precious metal, following yesterday's momentous 0.8 percent boost.

    Today's trading session is looking better all around for both the precious and base metal complexes. Other precious metals are up an average of 0.2 percent, also following average gains of 0.8 percent yesterday. Base metals posted average increases of 0.7 percent today, with copper by far in the lead, up 0.9 percent to $6,924 per ton. Nickel also saw 0.9 percent increases today. Lead posted the least in gains, only up 0.3 percent.

    In other markets, the German ten-year bund is holding strong at 0.75 percent, along with the U.S. ten-year treasuries yield, posting at 2.85 percent. Pricing on spot Brent crude oil is looking better at 0.52 percent, or $62.96 per barrel.

  • Precious Metals Under Immediate Pressure

    Following yesterday's average losses of 1.3 percent amongst the precious metals, today saw very little change. On average, today saw precious metals posting an average loss of 0.1 percent.

    Base metals today are essentially unchanged as well, with copper up 0.5 percent, zinc up the same 0.5 percent, and all other base metals in negative territory. However, volume trading is solid, with 18,941 lots traded by 7am in London today. Market participants are now concerned that future haven demand is weakened for precious metals, though the most important factor will be the future of the U.S. dollar and real rates.

    The U.S. dollar is seeing significant gains on the yuan today, with the dollar's yuan rate up 0.88. This is its largest increase since August 12th, 2015.

  • Precious Metals Post Minor Gains This Session

    With U.S. real rates and the U.S. dollar both in negative territory, precious metals are making a minor comeback today, with an average gain of 0.3 percent. Palladium was the weakest in the complex, slipping by 0.2 percent.

    In base metals, the session was equally in favor today as with the precious metals. Lead is up 0.1 percent today. Zinc saw only slightly better, at +0.2 percent. However, nickel is the hero, rising 1.4 percent in today's session and taking most of the praise for the complex rising by 0.6 percent on average today.

    Market participants expect further short-term gains for both precious metals and base metals in the weeks to come. As the U.S. dollar and real rates fluctuate with recent market instability, safe haven trading continues to be a good investment. However, palladium is seen as the least safe investment as far as precious metals go.

  • U.S. Real Yields Put Pressure on Precious Metals

    Precious metals are seeing essentially no positive movement today, as yields on U.S. ten-year treasuries are seeing significant growth. Only silver posted gains today, rising by 0.3 percent this session.

    While the U.S. ten-year treasuries yield is boasting its highest levels since November of 2015, precious metals are at risk of further negative market pressure as market participants expect a boost to the U.S. dollar to reflect the U.S. real rates. Though, thanks to its safe-haven characteristics, it is likely that gold will be resilient in the face of a stronger dollar.

    In other metals markets, base metals also took a bit of a hit this Monday, with losses around -0.4 percent on average. While tin broke the mold and rose by 0.3 percent, nickel took the biggest hit today, losing 0.8 percent in one session.

  • Precious Metals Find Gains Today

    After a few days of consecutive losses, precious metals are seeing increases again in today's session. Gold is currently up 0.5 percent to $1,343.02 per ounce.

    In base metals, trading has looked better today as well. Only aluminum lost ground today, slipping by 0.3 percent. However, while lead didn't move much today, the rest of the base metals complex rose by about 0.6 percent. Tin is up 0.4 percent, while nickel is up 0.7 percent. Copper is up to $7,117 per ton, an increase of 0.5 percent.

    In other markets, spot Brent crude oil pricing saw an increase of 0.31 percent today, to $68.26 per barrel. The German ten-year bund slipped to 0.68 percent, and the U.S. ten-year treasuries yield is down to 2.7 percent. The U.S. dollar has slipped on its index somewhat, from yesterday's 89.65 to today's 88.83.