Gold Hits One-Month High in Early Trading

Gold Hits One-Month High in Early Trading

Gold hits one-month high in early Wednesday trading as concerns over the conflict in Ukraine and surging inflation continue to drive the market. Spot gold hit $1,979.95 an ounce, the highest since March 14th and has wavered near that mark throughout the trading morning. Continue reading →

Gold Rises on Inflation, Ukraine

Gold Rises on Inflation, Ukraine

Gold rises in Monday morning trading on bullish sentiment over the war in Ukraine and concerns over inflation.

The Ukraine war has brought back some haven investors even as the dollar traded near two-year highs in expectation of aggressive interest-rate increases from the Federal Reserve triggered by high inflation. A stronger dollar is typically bearish for gold, because it makes the metal more expensive for holders of other currencies.

Front-month gold futures rose 1.1% last week to settle at $1,945.60 an ounce on Comex after the June contract increased 0.4% Friday. Gold advanced 2.8% in March after gaining 5.8% in February. It gained 6.9% in the first quarter and retreated 3.5% in 2021. Currently, the June contract is up $21.20 (+1.09%) an ounce to $1,966.80 and the DG spot price is $1,956.60.

The London Bullion Market Association reported Friday that the amount of gold held in London vaults gained 0.3% last month to 9,669 metric tons and was valued at a record $603.8 billion, the equivalent of 773,549 gold bars.

Discounts on Indian physical gold widened as demand increased only slightly, Reuters reported, though purchases in top consumer China remained steady despite COVID-19 related lockdowns.

In Ukraine, Russian forces escalated attacks on several towns in the eastern part of the country Sunday in what observers are calling a new phase in the war that may include a full-scale military confrontation on open terrain. Ukraine has asked allies in the West for weapons and military support.

Last week’s release of the minutes of the March meeting by Fed policymakers — and the support by many of them for a half-percentage point interest-rate increase in coming months — has given further support to the dollar and Treasury yields and pressured gold. The Fed increased rates by a quarter percentage point at the meeting in mid-March, the first rate hike in more than three years.

Key U.S. inflation data for March is due out Tuesday, and Fed officials are scheduled to speak throughout the week. Investors will be watching closely for indications on their future actions.

Gold also continued to attract haven investors because of the spread of coronavirus omicron variant BA.2.

Palladium is experiencing an extremely volatile day. Early morning trading saw a 5% jump for the PGM to over a two-week high. The surge was powered by the recent ban on trading of Russian-sourced metal in the London hub. Palladium climbed 4.1% to $2,526.19 per ounce, nearing its March 24th peak of $2,550.58. The metal then retreated from all of its early gains, tipping into negative territory, but now it has regained ground. Currently, the DG spot price is up $16.90 an ounce to $2,467.00.

Front-month silver futures increased 0.7% last week to settle at $24.82 an ounce on Comex after the May futures contract advanced 0.4% Friday. Silver gained 3.1% in March after surging 8.8% in February. It rose 7.6% in the first quarter after falling 12% in 2021. Silver prices are tied to industrial demand. Currently, the May contract is solidly up $0.702 (+2.83%) an ounce to $25.525 and the DG spot price is $25.15.

The LBMA reported that silver stockpiles in London vaults fell 2.1% last month to 34,462 metric tons, valued at $27.5 billion, or almost 1.15 million silver bars.

Spot platinum fell 0.9% last week to $983.00 an ounce, though it gained 1.3% Friday. The metal dropped 4.2% in March after advancing 1.7% in February. It increased 2.9% in the first quarter after dropping 9.4% last year. The DG spot price is currently up $1.90 an ounce to $985.50.

 

Disclaimer: This editorial has been prepared by Dillon Gage Metals for information and thought-provoking purposes only and does not purport to predict or forecast actual results. This editorial opinion is not to be construed as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein cannot be attributable to Dillon Gage. Reasonable people may disagree about the events discussed or opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, results are likely to vary substantially. It is not a solicitation or advice to make any exchange in commodities, securities or other financial instruments. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisers with respect to these areas. By posting this editorial, you acknowledge, understand and accept this disclaimer.

Gold Steady Ahead of Fed Minutes

Gold Steady Ahead of Fed Minutes

Gold steady ahead of this afternoon’s release of the Fed minutes. Opposing pressures early Wednesday kept the bullion in check. The dollar and Treasury yields rose to multiyear highs while haven demand from the Ukraine war and the pandemic kept prices supported.

Continue reading →
Gold Rises On Dollar, Treasury Yields

Gold Rises On Dollar, Treasury Yields

Gold rises early Wednesday as the U.S. dollar and Treasury yields weakened, though the precious metal came under pressure because of peace talks between Russia and Ukraine. The yellow metal continued to rise after this morning’s placid job numbers. Continue reading →

Gold Ticks Up On Ukraine's Crisis

Gold Ticks Up On Ukraine’s Crisis

Gold ticks up this morning on Ukraine’s continuing crisis, bouncing off a near a two-week low early Monday amid a tug-of-war between the bullishness of the yellow metal’s safe haven appeal from the war in Ukraine and bearishness of aggressive monetary policy signals by Federal Reserve officials. Continue reading →

Gold Aims At Second Straight Weekly Gain

Gold Aims At Second Straight Weekly Gain

Gold slipped below $2,000 an ounce early Friday, but still aims for second straight weekly gain. The yellow metal is under pressure from higher Treasury yields, after the sharpest increase in U.S. monthly inflation in 40 years, as investors eye likely U.S. rate hike. Continue reading →

Gold Rally Ends Risk Appetite Grows

Gold Rally Ends Risk Appetite Grows

Gold rally ends overnight, dropping below the $2,000-an-ounce threshold early Wednesday as risk appetite grows. However, many analysts predict this is a short time out as the conflict between Russia and Ukraine continues to roil the markets. The rally’s pace also slowed as a firmer dollar and higher Treasury yields curbed the yellow metal’s advance. Continue reading →

Gold Steady Despite Jobs Data 

Gold Steady Despite Jobs Data    

Gold steady despite this morning’s jobs data that shows a surprising surge for February. The yellow metal rose early Friday, heading for its best week since May, as the Russian invasion of Ukraine escalated and investors sought out safe-haven assets. Continue reading →

Gold Slips After Surging On Ukraine

Gold Slips After Surging On Ukraine

Gold slips after surging on Ukraine headlines. It retreated early Friday after settling Thursday to its highest level in more than 13 months. The rally, sparked by Russia’s invasion of Ukraine, came off its highs after U.S. President Joe Biden and other world leaders announced a series of extensive sanctions on Russia and Russian elites in response to the invasion. Continue reading →

Gold Steady Near $1,900 Threshold

Gold Steady Near $1,900 Threshold

Gold steady near $1,900 threshold, as investors anticipated a summit on Ukraine between U.S. President Joe Biden and Russian President Vladimir Putin. The yellow metal hit, then slipped from an eight-month high it hit in early session trading. Continue reading →

Gold Sticking Near $1,860

Gold Sticking Near $1,860

Gold sticking near $1,860 an ounce, despite the easing of tensions between Russia and Ukraine on Tuesday. The yellow metal steady after this morning’s U.S. retail sales report showed a solid jump in January as investors await this afternoon’s Fed minutes. Continue reading →

Winter Weather Alert

The Dallas Metroplex and much of the Eastern half of the United States is experiencing a severe Winter storm. Federal Express provided an alert stating that due to the freezing rain and icy roads there have been significant interruptions in service at their Memphis and Indianapolis distribution hubs. This weather has also caused the cancellation of pick-ups and deliveries in Dallas. Additionally, UPS is likely to experience a reduction in service during this weather event.

Please be aware that you will likely see no movement in packages within this region for a few days.

Thank you for your understanding.

Gold Sticking Above $1,800

Gold Sticking Above $1,800

Gold sticking above $1,800, back above that line after some early Wednesday profit taking following a two-day rally. The yellow metal is entrenched in this range, supported by a weaker dollar, as investors await Federal Reserve moves on monetary policy. Continue reading →

Gold Nears $1,800 On Bargain Hunters

Gold Nears $1,800 On Bargain Hunting

Gold once again nears $1,800 on bargain hunting as investors buy the dips. The yellow metal looks headed for its worst month since September, as the dollar strengthened, and new inflation data released Friday reinforced the Fed’s inclination to tighten monetary policy and raise interest rates. Continue reading →

Gold Down As Dollar Roars

Gold Down As Dollar Roars

Gold down as dollar roars on the near certainty that the Federal Reserve would raise interest rates at its next meeting. The dollar index hit its highest point since July 2020 in early morning trading. Continue reading →

Gold Heads For Weekly Gain

Gold Targets Weekly Gain

Gold targets weekly gain, after a brief market correction drop in early trading. This would be the second consecutive weekly gain for the yellow metal that is lingering near a two-month high as U.S. Treasury yields slid from near two-year highs. Continue reading →

Gold Steadies On Inflation Worries

Gold Steadies On Inflation Worries

Gold steadies above $1,820 an ounce on inflation worries. The yellow metal had slipped at the start of the trading day as U.S. Treasury yields rose to their highest level in two years amid widespread expectations of a Federal Reserve rate increase. However, gold has regained altitude on global inflation news as the UK reported its highest inflation in three decades this morning. Continue reading →

Gold Modestly Up On Jobs Data

Gold modestly Up On Jobs Data

Gold modestly up on jobs data and slightly weaker dollar though it failed to leap the $1,800 an ounce line. It seems headed for its biggest one-week drop since November as the yellow metal came under pressure from strong Treasury yields amid expectations of upcoming interest rate hikes. Continue reading →

Gold Off of Six-Week High

Gold Off of Six-Week High

Gold slips off of the six-week high it hit earlier in today’s trading, but it’s sticking above $1,800. The yellow metal dropped when stronger bond yields and surging equities overcame lingering risk aversion due to the continued spread of the omicron variant of the coronavirus. Continue reading →

Gold Steady Amid Holiday Liquidity

Gold Steady Amid Holiday Liquidity

Gold steady amid holiday liquidity, holding above $1,800 an ounce amid a tug-of-war between weaker U.S. Treasury yields and a stronger dollar. The yellow metal did slip a touch earlier in the trading day as the U.S. dollar rebounded, though bullion is sticking near a one-week high over Omicron concerns. Continue reading →

2021 Holiday Hours

2021 Holiday Hours

Dillon Gage wishes you and yours a happy, healthy holiday season.

The chart below details the holiday schedule for all DG departments for the 2021 Holiday season.

2022 holiday hour calendar

We look forward to serving you in 2022!

Gold Steady Ahead of Fed Comments

Gold Steady Ahead of Fed Comments

Gold steady ahead of Fed comments this afternoon on their monetary policy decision. The yellow metal tumbled Tuesday ahead of the announcement, with some market watchers speculating that investors were taking positions ahead of a possible interest rate increase by the Fed, which would be bearish for gold. Continue reading →

Gold Eases As Risk Aversion Lessens

Gold Eases As Risk Aversion Lessens

Gold eases this morning as risk aversion lessens and the U.S. dollar boosts. Weak Treasury yields and continued uncertainty about the Omicron variant put a floor under prices, though prospects of a faster-than-previously expected taper of Federal Reserve stimulus measures pressured the yellow metal. Continue reading →

Gold Rallies on Jobs Data

Gold Rallies on Jobs Data

Gold rallied this morning on disappointing jobs data. The yellow metal rose $5+ an ounce to $1,775 when the release of the key U.S. jobs report for November showed just 210,000 jobs created. Gold remained under pressure because of hawkish statements this week by Federal Reserve officials. Continue reading →

How to Mitigate Potential Delays

How to Mitigate Potential Delays

You may have already experienced delivery delays from carriers such as Federal Express, UPS and the US Post Office due to carrier staffing shortages and other factors.

Unfortunately, we expect these delays to continue as we get closer to the holidays, particularly with the additional complication of winter storms. Continue reading →