Gold ticked up ahead of Ukrainian Summit

Gold edges up ahead of Ukrainian Summit 

Gold edges up early Monday from a two-week low as investors awaited the result of an upcoming summit between Ukrainian President Vladimir Zelenskyy and U.S. President Donald Trump on steps toward a peace agreement between Russia and Ukraine. 

Zelenskyy, Trump and key European leaders are set to meet in Washington on Monday, days after Trump’s summit with Russian President Vladimir Putin in Alaska. Separately, investors waited for signals on the Federal Reserve’s next moves on monetary policy.

December gold futures fell 3.1% last week to settle at $3,382.60 an ounce on Comex after the front-month contract slipped 60 cents Friday. Bullion gained 1.2% in July after slipping 0.2% in June and losing 0.1% in May. It’s up 28% this year. The metal rose 27% in 2024, its biggest annual gain since 2010. The December contract has currently ticked down $3.5 (-0.10%) an ounce to $3379.10 and the DG spot price is $3334.60.

Following Zelenskyy’s one-on-one talks with Trump in the Oval Office Monday, the leaders will meet with French President Emmanuel Macron, German Chancellor Friedrich Merz, British Prime Minister Keir Starmer, Italian Prime Minister Giorgia Meloni, European Commission President Ursula von der Leyen, Finnish President Alexander Stubb, and NATO Secretary General Mark Rutte.

On the economic front, the minutes of the last Fed policymakers’ meeting last month are scheduled for release Wednesday, and Fed Chairman Jerome Powell is set to speak Friday at the central bank’s annual gathering at Jackson Hole, Wyoming. 

Investors are overwhelmingly betting on a rate cut at the Fed’s next policy meeting in September and most expect one more this year, though economic reports including on inflation and the labor market may affect policymakers’ thinking. Lower interest rates are typically bullish for gold, making the yellow metal a more attractive alternate investment. 

The Fed minutes are likely to provide a snapshot of policymakers’ thinking when they voted to keep interest rates unchanged last month at 4.25% to 4.50%. The Fed has held at that rate all year, despite encouragement from the Trump administration to immediately impose cuts. 

Over 85% of the investors tracked by the CME FedWatch Tool are betting that the Fed will cut rates next month. The central bank began raising interest rates in March 2022 to fight inflation, ultimately imposing increases of by 5.25 percentage points before beginning rate cuts last year. But two key reports released last week showed that U.S. inflation surged last month, weighing on the economy. 

In economic news this week, U.S. housing starts for July come out Tuesday, followed by U.S. leading economic indicators for July and weekly initial jobless claims on Thursday. Then U.S. consumer confidence data comes out Friday.  

Front-month silver futures decreased 0.2% last week to settle at $38.47 an ounce on Comex after the most-active contract rolled to December from September. The December contract fell 0.3% Friday. Silver rose 1.5% in July after increasing 9.5% in June and adding 0.6% in May. It rose 21% in 2024. The September contract is currently up $0.100 (+0.26%) an ounce to $38.075 and the DG spot price is $38.05.

Spot palladium tumbled 1.7% last week to $1,120.50 an ounce after falling 2.9% Friday. Palladium climbed 8.8% in July after surging 14% in June and advancing 2.8% in May. Palladium dropped 17% last year. Currently, the DG spot price is up $3.70 an ounce to $1122.50.

Spot platinum rallied 0.5% last week to $1,345.40 an ounce but declined 1.2% Friday. It dropped 3.9% in July after climbing 27% in June and rising 8.6% in May. Platinum lost 8.4% in 2024.  The DG spot price is currently down $3.90 an ounce to $1338.30.

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 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 on the rise after overnight dip

Gold on the rise after overnight dip

Gold on the rise this morning as investors buy the dip with DG spot gold closing in once again on $3400 an ounce. The yellow metal had retreated early Monday in a likely technical correction after Friday’s rally following a weak jobs report that boosted speculation that the Federal Reserve would have to step up its timetable for interest rate cuts. Continue reading →

Gold surges on soft jobs report

Gold surges on soft jobs report

Gold surges after the morning’s soft U.S. jobs report. DG spot gold jumped $46.00 an ounce, while Gold futures rose back over $3400 an ounce. The yellow metal had been headed for a weekly loss early Friday on a stronger dollar and fading hopes for U.S. rate cuts. Continue reading →

Gold drops on GDP data

Gold drops on GDP data

Gold drops on GDP data this morning that shows the U.S. economy on solid ground as investors awaited further direction from the Federal Reserve’s scheduled policy statement in the afternoon. Continue reading →

Gold tips up on bargain hunting

Gold tips up on bargain hunting

Gold tips up early Wednesday as investors took advantage of the previous session’s dip and did some bargain hunting. The market now looks to this afternoon’s release of the minutes from the Fed’s recent meeting as prices remained under pressure as U.S-EU trade tensions eased. Continue reading →

Memorial Day Hours for 2025

Memorial Day Hours 2025

Dillon Gage trading room and refinery will be closed in honor of Memorial Day, Monday, May 26th.

FizTrade.comTM electronic trading hours*:

  • Sunday, May 25: 5 pm Central (CDT) thru Monday, May 26th at 1:30 pm CDT
  • Monday, May 26: Reopens 5 pm CDT and continues normal hours

Thank you for your business. Have a safe Memorial Day Weekend.

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

Gold back over $3300

Gold back over $3300

Gold leapt back over $3300 an ounce in early morning trading after posting its first back-to-back weekly loss of the year as investors awaited direction from the Federal Reserve later this week. The bullion’s rise was sparked by a lower dollar and continuing uncertainties over the effects of the tariff war. Continue reading →

Gold keeps overnight rally

Gold keeps overnight rally

Gold keeps its overnight rally going following the morning’s upbeat jobs report. The yellow metal had risen on bargain hunting, but looks still poised for a weekly loss despite continued concern about the effect of tariffs on U.S. and global growth. Continue reading →

Gold regains ground on economic data

Gold regains ground on economic data

Gold regains some ground on this morning’s weak U.S. economic data after dropping overnight. The yellow metal had dipped below the $3300 mark as haven investors turn to other assets after U.S. President Donald Trump signed two executive orders tempering duties on foreign-made vehicles and some auto parts. Continue reading →

Gold back down near $3000 an ounce

Gold back down near $3000 an ounce

Gold back down near the $3,000 line after an early morning futures rally. The drop was sparked by investors choosing the dollar as a safe haven after sweeping U.S. tariffs raised fears of a global recession, however gold’s shine is only slightly dimmed as a “bullish on bullion” attitude is being maintained by analysts given the challenging economic conditions. Continue reading →