Gold Slips As Fed Looms

Gold Slips As Fed Looms

Gold slips over $10 an ounce relinquishing the ground it had regained early Friday, as next week’s Fed meeting loom. The yellow metal had dropped to the lowest level in more than a month in the previous session amid strength in the dollar. Continue reading →

Gold Holding Just Below $1,800

Gold Holding Just Below $1,800

Gold holding just below $1,800, but looks headed for its first weekly drop in five weeks. Its position near the psychological threshold is supported by a slightly weakened dollar and the uncertainty over the worsening pandemic. Continue reading →

Gold Up on Big Jobs Miss

Gold Up on Big Jobs Miss

Gold up on big jobs miss this morning. Gold rose as much as 1% on Friday when the surprise slowdown in U.S. jobs growth in August was announced, raising the possibility that the Federal Reserve will go slow on its tapering plans. The metal was slightly higher throughout early morning trading, supported by declines in the dollar. Continue reading →

Gold Weaker Ahead of Fed Chair Comments

Gold Weaker Ahead of Fed Chair Comments

Gold weaker this morning as various Fed Presidents indicate a hawkish lean, pulling the bullion back $9 an ounce, ahead of Fed Chair comments. Investors now await the Fed Chairman’s speech on the Federal Reserve’s tapering timetable at 10 am Central from the central bank’s annual conference typically held in Jackson Hole, Wyoming, but virtual this weekend. Continue reading →

Gold Ticks Up On Virus

Gold Ticks Up On Virus

Gold ticks up Friday morning, supported by fears that the virus’s Delta variant was continuing to spread. The yellow metal has been kept in check this week as the dollar climbed to the highest level in more than nine months. Palladium headed for its worst week since March 2020. Continue reading →

Add some Platinum to your portfolio

Anxious about the market? Add some Platinum to your portfolio

Rising inflation concerns, government infrastructure spending, and a volatile stock market may have you wondering where to turn to protect your investments. But what if you could invest in a hard asset that hedges inflation like gold, is poised for an exponential spike in demand, is trading at a value, and is in tight supply? Continue reading →

Gold Fighting To Avoid Weekly Drop

Gold Fighting To Avoid Weekly Drop

Gold fighting to avoid a weekly drop as the dollar traded near a four-month high after the latest report on inflation – the producer price index. Futures gained some strength Friday as the spread of the delta variant of the coronavirus continued to worsen, exacerbating uncertainty and keeping a floor under prices. Continue reading →

Gold Struggles Back From Four-Month Low

Gold Struggles Back From Four-Month Low

Gold struggles back from touching four-month low in early Asian trading. The yellow metal is back above $1,740 an ounce after a short-lived drop below $1,700 overnight on speculation that the Federal Reserve may taper the easy monetary policy triggered by the coronavirus pandemic sooner than previously expected. Continue reading →

Gold Drops on Jobs Data

Gold Drops on Jobs Data

Gold drops on very positive Jobs data and unemployment numbers, lifting treasury yields. The yellow metal was already feeling pressure from comments made by a Federal Reserve official indicating that the central bank may taper its easy monetary policy sooner rather than later. Continue reading →

Gold Lifted by Jobs Data

Gold Lifted by Jobs Data

Gold lifted by this morning’s jobs data that shows much weaker than expected growth. The yellow metal was little changed overnight as investors awaited direction from upcoming jobs reports, which are expected to provide a clearer picture of the state of the labor market as the delta variant surges. Continue reading →

Gold Striving For Big Weekly Rally

Gold Striving For Big Weekly Rally

Gold striving for big weekly rally, in spite of a key inflation indicator coming in lower than expected this morning. Still, the yellow metal is looking at its biggest rally in more than two months after the Federal Reserve this week signaled that it was likely to maintain its easy monetary policy in the near term and the dollar remained soft. Continue reading →

Gold Steady Near $1,800

Gold Steady Near $1,800

Gold steady near $1,800 after rising over $1,807 early Wednesday as an equities selloff in China triggered a flight to quality assets and investors awaited a statement at the end of today’s U.S. Federal Reserve’s policy meeting for further direction. Continue reading →

Gold Recovering from Overnight Dip

Gold Recovering from Overnight Dip

Gold recovering from overnight dip as equities face pressure and COVID cases grow. The yellow metal lost ground overnight on a stronger greenback, dropping below the $1,800 mark briefly, but bouncing back as investors take advantage of the dip.

The Dow was down over 500 points (over 1.5%) at the opening bell, ending a 3-week winning streak, as concerns over the rise of the Delta variant grow. The NASDAQ and S&P also struggling this morning, down 55 (-1.2%) and 139 (-0.92%) respectively.

Gold also got some support from declines in U.S. Treasury yields, which were near a one-week low, with 10-year yields dropping to a new 5-month low. Their retreat — and the climbing COVID-19 cases — have made the yellow metal more attractive as a hedge against uncertainty. But the dollar’s gains pressured prices. The dollar index was near a three-month high.

August gold futures rose 0.2% last week to settle at $1,815.00 an ounce on Comex. The front-month contract, which trading near a four-week high last week, slipped 0.8% Friday. Gold has increased 2.5% so far in July. It fell 7% in June in the worst month since November 2016 after advancing 7.8% in May, the best month for the precious metal since July 2020. Gold climbed $372 — or 24% — in 2020 because of uncertainty about the economy and the pandemic and is down 4.2% so far in 2021. The August contract is down $2.70 (-0.15%) an ounce to $1,812.30 and the DG spot price is $1,812.00.

The rapid spread of the delta variant of the coronavirus is forcing new shutdowns around the world as cases climb. That has increased concern that the pandemic isn’t over yet.

“Most people will either get vaccinated, or have been previously infected, or they will get this delta variant,” Dr. Scott Gottlieb, former commissioner of the U.S. Food & Drug Administration during the Trump Administration said Sunday on CBS’s “Face the Nation” program.

Investors will continue to watch for signals on how the economy is dealing with the latest development in the pandemic, including inflation and what the Federal Reserve will do about it. They will also look closely at the labor market.

The June U.S. inflation report last week showed consumer prices jumped the most since 2008 and beat all estimates. Gold is a traditional hedge against inflation. But U.S. weekly initial jobless claims reached a pandemic-era low in the report released last week.

Investors will await the latest weekly jobless claims on Thursday as well as the U.S. existing home sales report. The European Central Bank is scheduled to release a rate decision Thursday.

September silver futures fell 1.7% last week to settle at $25.80 an ounce on Comex. The front-month contract lost 2.3% Friday and is down 1.5% so far this month. Silver fell 6.5% in June after rallying 8.3% in May. The metal rose 47% in 2020 and is down 2.3% so far this year. The September contract is down $0.405 (-1.57%) an ounce to $25.398 and the DG spot price is $25.33.

Spot palladium decreased 6% last week $2,655.00 an ounce and retreated 3.4% Friday. It’s down 4.9% in July and up 8.3% so far in 2021. Currently, the DG spot price is down $47.30 an ounce to $2,603.00.

Spot platinum rose 0.8% last week to $1,115.90 an ounce and fell 2.5% Friday. It’s up 3.3% so far in July. The autocatalyst metal is up 4% in 2021. The DG spot price is down $23.10 an ounce to $1,093.80, currently.

 

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 Jumps Higher on Inflation News

Gold Jumps Higher on Inflation News

Gold jumps higher on inflation news. Early Wednesday gains were sparked by the June U.S. inflation report, released Tuesday, showed consumer prices jumped the most since 2008 and beat all estimates. The just released Producer Price Index gave the yellow metal a further bump. Continue reading →

How Much are Olympic Medals Worth?

How Much are Olympic Medals Worth?

Precious Metals Wholesaler Dillon Gage Metals Unveils Olympian Gold and Silver Worth

ADDISON, TX (July 13, 2021) – This year, one of the world’s largest precious metals wholesale trading firms, Dillon Gage Metals, is sharing secrets behind the globally recognized Olympic medals athletes train so hard to obtain. Continue reading →

Gold Dips As Dollar Gains

Gold Dips As Dollar Gains

Gold dips overnight as dollar gains with the dollar index up 0.2% against its rivals. The yellow metal is back above $1,800, nearing its three-week high, as ongoing concerns about COVID-19 and inflation keep lending support. Continue reading →

July 4th Holiday Hours

July 4th Holiday Hours

While celebrating our nation’s liberty, we will observe the following hours:

FizTrade Electronic Trading*:

  • Friday, July 2nd: Normal close at 4 pm Central
  • Sunday, July 3rd: Normal open at 5 pm Central
  • Monday, July 5th: Close at Noon, opens at 5 pm Central

Trading Room and Refinery:

  • Monday, July 5th: Closed

Have a happy and safe Fourth of July!

*Subject to change without notice. Hours are dependent upon Globex Market hours.

Gold Stays in Range

Gold Stays in Range

Gold stays in range, hovering around $1,780 an ounce. After slipping early Monday as the dollar and U.S. Treasury yields edged higher, the yellow metal clawed back as some investors bought the dip. Many traders staying on the sidelines waiting for a clearer signal from the U.S. Federal Reserve’s and other central bank’s on policy tightening and the scaling back of pandemic stimulus efforts. Continue reading →

Gold Falls On Stronger Dollar Ahead of Fed

Gold Falls On Stronger Dollar Ahead of Fed

Gold falls 1% overnight on a stronger dollar ahead of Fed meeting, but it has clawed back almost $20 an ounce this morning from a low of $1,847 as traders buy the dip. Investors await Wednesday’s meeting of Federal Reserve policy makers for indications on what the central bank will do about rising inflation. Continue reading →

Gold Just Under $1,900

Gold Just Under $1,900

Gold was little changed, hanging just under $1,900, early Wednesday as traders awaited U.S. inflation data and a monetary policy announcement from the European Central Bank for direction. The U.S. dollar’s mid-week weakness has given the yellow metal a slight boost. Continue reading →

ACH Payment

Quick Pay Now ON FizTrade

Dillon Gage has incorporated ACH payment options on the award-winning FizTrade™ platform. FizTrade now gives precious metals customers the power to trade and submit payment via a secure, encrypted banking portal when purchasing on their desktop. Continue reading →

Gold Slips as Dollar Firms

Gold Slips as Dollar Firms

Gold slips as dollar firms and investors look toward economic data on inflation due later this week. The yellow metal getting mixed support from comments made over the weekend by Treasury Secretary Janet Yellen at the Group of Seven finance ministers meeting in London. Continue reading →

Gold up on Jobs Report

Gold up on Jobs Report

Gold up on jobs report as the U.S. fails to hit market forecast for jobs in May. The yellow metal jumped almost $7 an ounce immediately and the most active futures month has now gained over $15 an ounce. Continue reading →

Gold Boosting Off Inflation Data

Gold Boosting Off Inflation Data

Gold boosting off inflation data as the Core Inflation report shows higher than expected growth for April. The yellow metal had dipped slightly, down $6 an ounce to $1,885.38, ahead of the report as the dollar firmed, but the bullion is once again challenging $1,900. Continue reading →