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 princes, 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 →

American Eagle 2021 Sales

American Eagle 2021 Sales

The following chart includes the American Eagle YTD sales totals for 2021 Gold and Silver American Eagle from the U.S. Mint as of 5pm on December 2nd. This chart includes the changes from the report posted on November 19th. (We did not post last Friday, due to the holiday) Continue reading →

Gold Rises on Omicron Concerns

Gold Rises on Omicron Concerns

Gold rises modestly early Monday on omicron concerns. News of the new coronavirus variant’s spread affected all markets much more strongly when it broke on Friday, but the headlines continue to unsettle investors, boosting the yellow metal’s appeal as a hedge against uncertainty. Continue reading →

Gold Holding Steady Above $1,780

Gold Holding Steady Above $1,780

Gold holding steady above $1,780 an ounce after the release of very positive U.S. jobless claims and muted U.S. Q3 GDP growth. The yellow metal had dipped early Wednesday with strength in the dollar kept futures below the $1,800-an-ounce threshold. Continue reading →

Thanksgiving Hours for 2021

Happy Thanksgiving to you and your family!

Dillon Gage will have the following reduced hours over the holiday weekend.

FizTrade*:

  • Thu. Nov. 25th: Open all day, EXCEPT closed from Noon to 5 pm CST
  • Fri. Nov. 26th: Closes at 12:45 pm CST
  • Sun. Nov. 28th: Opens at 5 pm CST

Trading Room & Refinery:

  • Thu. Nov. 25th: Closed
  • Fri. Nov. 26th: Closed
  • Mon. Nov. 29th: Trading room opens at 7:30 am CST

We are thankful for your business.

*Based on CME hours and subject to change

Gold Steady On Inflation Concerns

Gold Steady On Inflation Concerns

Gold steady early Friday on inflation concerns. The yellow metal is still hanging tough above $1,850 an ounce as the tug-of-war continues between investors concerned about high interest rates, which would be bearish for gold, and those worried about inflation, which would be bullish because the yellow metal is a traditional hedge against inflation. Continue reading →

Gold Up Despite Stronger Dollar

Gold Up Despite Stronger Dollar

Gold ticks up on continuing inflation concerns despite stronger dollar. Gold slightly dropped in early morning trading, but was buoyed back up when bulls bought the dip, even though the dollar is hovering near a 16-month high. Continue reading →

Gold Sticking Near Five-Month High

Gold Sticking Near Five-Month High

Gold sticking near five-month high, after taking a short-lived $16 an ounce (.7%) dip earlier Friday on some profit-taking and a rise in U.S. bond yields and a strengthening dollar. The bullion is on track for its second weekly gain as escalating inflation made the precious metal more attractive to investors as a way to protect wealth. Continue reading →

Gold Ticks Up Under $1,800

Gold Ticks Up Under $1,800

Gold ticks up a bit under $1,800 this morning as the U.S. Dollar slightly weakens then steadies just under Friday’s 2-week high. Signs that inflation is persisting bolstered the yellow metal’s status as a traditional inflationary hedge as all markets keep an eye on this week’s Federal Reserve meeting. Continue reading →

Gold Slumps as Inflation Jumps

Gold Slumps as Inflation Jumps

Gold slumps as inflation jumps, giving the U.S. dollar a boost. The yellow metal started the trading day slipping from the $1,800 mark when the dollar started flexing its muscles. However, gold is still striving for a monthly gain, after the U.S. reported tepid economic growth for the third quarter on Thursday. Silver headed for its worst week since mid-September. Continue reading →

Gold Slips on U.S. Retail Sales

Gold Slips on U.S. Retail Sales

Gold slips on positive U.S. Retail Sales figures and rebounding bond yields, but the yellow metal is clinging to a three-week high, clinging to a weekly rally.

Gold dropped 0.8% to $1,780 an ounce when U.S. benchmark 10-year Treasury yields recovered earlier Friday from the more than one-week low hit on Thursday. Meanwhile, consumers surprised the markets, spending at a much faster pace than expected in September, per this morning’s Census Bureau report. Retail sales jumped 0.7%, far better than the Dow Jones forecast of a 0.2% decline. Compared to a year ago, sales were up 13.9%. The yellow metal slipped another $10 an ounce on the report to hover around $1,770.

In addition to Treasurys, U.S. currency came under pressure Wednesday and Thursday after the latest inflation and jobs reports and the release of the minutes of the last Federal Reserve policy meeting increased investors certainty that the central bank would act to taper pandemic stimulus measures at policymakers’ next meeting in early November.

December gold futures rose 0.2% Thursday to settle at $1,797.90 an ounce on Comex, the highest closing price in a month. The front-month contract gained 2.3% in the first four days of the week. Gold retreated 3.4% in September after gaining just 90 cents in August. It dropped $14.60 in the third quarter. The yellow metal is down 5.1% so far in 2021. Currently, the December contract is down $30.40 (-1.69%) an ounce to $1,767.50 and the DG spot price is $1,769.30.

In physical news, Barrick Gold Corp. reported third-quarter gold production rose almost 5% from the second quarter as output increased at its Veladero mine in Argentina.

In economic news, the key September inflation report released Wednesday showed that U.S. consumer prices rose more than expected as last month as energy costs increased. the U.S. consumer price index grew by 0.4%, above the 0.3% forecast by economists surveyed by Dow Jones.

Meanwhile, the minutes of the September Fed meeting showed members felt the central bank was close to reaching its economic goals and could begin reducing the help it’s been providing the economy beginning in mid-November. That timetable is more aggressive than many investors had anticipated. Many economists have urged the Fed to act sooner rather than later to rein in inflation that’s at the highest level in three decades.

In other positive news for the economy Thursday, the U.S. initial jobless claims report showed that new applications for new unemployment benefits fell below 300,000 last week for the first time since the pandemic began.

December silver futures increased 1.3% Thursday to settle at $23.48 an ounce on Comex. The front-month contract gained 3.4% in the first four days of the week. Silver retreated 8.2% in September, its fourth consecutive monthly decline, and plummeted 16% in the third quarter. The metal is down 11% so far this year. Silver prices are tied to industrial demand. The December contract is down $0.222 (-0.95%) an ounce to $23.255 and the DG spot price is $23.40.

Spot platinum rose 2.8% Thursday to $1,061.00 an ounce and is up 2.9% so far this week. The metal lost 5.3% last month and 10% last quarter. It’s down 1.2% so far this year. Currently, the DG spot price is up $5.00 an ounce to $1,063.30.

Spot palladium added 0.8% Thursday to $2,158.50 an ounce and is up 3% so far this week. It lost 23% in September, 31% in the third quarter and is down 12% so far in 2021. The DG spot price is currently down $30.40 an ounce to $2,142.50.

 

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 Riding A Rollercoaster Over $1,770

Gold Riding A Rollercoaster Over $1,770

Gold riding a rollercoaster in Wednesday morning trading to regain a position well over $1,770. The yellow metal hit $1,778 an ounce earlier in the day on a weaker dollar, but CPI inflation data briefly dropped the bullion over $20 an ounce. Gold started the trading day steady, hovering around $1,760 an ounce, as investors awaited that key CPI inflation data for September for insight on the Federal Reserve’s stimulus tapering timetable. Continue reading →

Gold Eases Ahead of Jobs Reports

Gold Eases Ahead of Jobs Reports

Gold eases a tad ahead of jobs reports, but is sticking above $1,750 an ounce, as investors awaited the release of key jobs data for September for further direction. The yellow metal briefly hit a one-week high of $1,765 in early Monday trading, getting support from inflation fears. Continue reading →

Gold slips on U.S. Home Sales

Gold slips on U.S. Home Sales

Gold slips on surging U.S. Home Sales reported this morning dropping over $10 an ounce. The yellow metal had regained some turf into positive territory earlier in the trading day on short covering as it hovered near a seven-week low. Gold was under pressure as the dollar and Treasury yields strengthened on anticipation that central banks would increase interest rates sooner than previously anticipated. Continue reading →

Is it still a good time to invest in Palladium?

Is it still a good time to invest in Palladium?

Smart investors are well-versed in diversifying their portfolios with gold, silver, and platinum. So, it makes sense that these popular metals have made the headlines in recent years. But in the background, an inconspicuous industrial metal has been on a stealthy bull run: Palladium. Continue reading →

Gold Slips As Dollar Mildly Rebounds

Gold Slips As Dollar Mildly Rebounds

Gold slips this morning as the U.S. dollar mildly rebounds and investors continue to worry about the uncertainty over China’s Evergrande debt woes, which have roiled global markets. Platinum headed for its biggest weekly rally in six weeks. Continue reading →

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 →