Gold reclaims some turf on Wednesday morning’s inflation data from the CPI, one of the economic indicators the Fed uses to pace future interest-rate hikes. Earlier Wednesday the yellow metal traded near three-month lows, but began its recovery when the dollar and treasury yields dipped ahead of the CPI report. Continue reading →
FedEx Express and FedEx Ground will enable ID scanning functionality for deliveries of “Adult Signature Required” (ASR) packages in the U.S. The ID scanning technology reduces manual data entry at point of delivery, improving accuracy of recipient information and increasing efficiency.
Please inform your customers about the upcoming change to how Federal Express will be delivering packages sent with “Adult Signature Required.”
How to help your customers prepare for this change
Please have your valid government-issued photo ID ready at the time of delivery.
Effective 06/28/22 FedEx will introduce scanning technology that electronically captures the recipient’s first initial, last name, and automatically verifies that age requirements are met for shipments requiring an adult signature at delivery. The software does not record or store any other personal data (e.g., driver’s license number, birthdate, home address, etc.).
Gold back above $1900, sparked by Thursday’s disappointing GDP numbers and despite this morning’s inline inflation data. The yellow metal retracing some of this week’s losses early Friday but still poised for its worst month in seven amid investor anticipation of aggressive Federal Reserve interest rate increases to combat 40-year highs in inflation.Continue reading →
Leading Precious Metals Wholesaler Paves The Way For A More Sustainable Future
ADDISON, TX (April 21, 2022) – Dillon Gage Metals the world leader in physical precious metals, is continuously working for more sustainable and environmentally friendly practices in its refinery operation, now in its twenty-sixth year. Dallas-based Dillon Gage Refinery is a full-service refiner specializing in refining, assaying, stone removal and fast settlements serving high volume commercial clients.
Dillon Gage Refinery is committed to sustainable business practices and is dedicated to safeguarding the environment in its refining process. The company demonstrates its commitment by having the some of the highest environmental and safety standards in the industry.
Precious metals are a non-renewable resource, meaning precious metals cannot be readily replaced by natural means at a pace to keep up with consumption. Therefore, it’s critical that precious metals be recycled by a refiner that utilizes environmentally friendly refining techniques that meet all local, state and federal environmental regulations.
Dillon Gage was an early adopter of the London Bullion Market Association (LBMA) 2012 (and then updated 2019) environmental and sustainability gold standards. For refiners to be listed by the LBMA, the refinery must demonstrate that they have met the LBMA requirements by a third-party audit. Once listed on the approved LBMA list, refiners must continuously meet its guidelines as the LBMA has a zero-tolerance approach. Since 2011, Dillon Gage has enjoyed its designation as an LBMA Associate.
Recently Dillon Gage partnered with the Association of Responsible Mining (ARM) to become an authorized supplier of Fairmined Gold. This assurance label certifies gold mines who followed ethical, responsible and sustainable sourcing practices. The Fairmined Standard ensures safe and reduced chemical handling, reforestation, water supply protection and it’s one of the few available gold products that is 100% traceable.
And finally, the Dillon Gage Refinery is undergoing the membership certification process with the Responsible Jewellery Council, also known as RJC, the world’s leading standard-setting organization for the entire jewelry and watch industry. As a certified member of RJC, Dillon Gage will regularly submit its entire manufacturing process to independent auditors for review. In total, RJC has 129 US members and more than 1300 global members. This membership is an opportunity for Dillon Gage to connect with a community of people with expertise, support and education in sustainable growth, improved business practices and responsibility in the jewelry and precious metals industries.
“We are proud of our efforts to promote sustainability and look forward to the opportunity to continue improving our planet while still giving our customers quality products,” said Terry Hanlon, president at Dillon Gage. “As one of the largest precious metals wholesalers in the world, we lead by example. We hope that others follow the path we have forged within precious metals’ supply chain.”
For more information on Dillon Gage Refinery, please visit Dillon Gage’s website https://dillongage.com/precious-metals-refining/ or call 800-375-4653. For a weekly update on precious metals, follow Dillon Gage’s blog.
ABOUT DILLON GAGE
Dillon Gage is the world leader in physical precious metals trading and technology, serving dealers, financial institutions, banks and brokerage houses around the globe. Since 1976, Dillon Gage has led innovation, advanced trading tools, technology and intellect. The firm is one of a handful who are authorized purchasers of bullion (including coins, rounds and bars) for all major world mints and maintains inventory in over 20 countries. Dillon Gage’s integrated products and services include numismatics, bullion and electronic trading of precious metals and fulfillment, API integration, physical gold tracked by blockchain technology, refining and storage. The firm operates FizTrade Online Trading, IRAConnect,Dillon Gage Refining and International Depository Services Group, a privately-owned subsidiary of Dillon Gage, with locations in Delaware, Texas and Ontario. Dillon Gage’s philanthropic arm, HELPS International, provides relief, development and educational opportunities to Guatemala. Learn more about Dillon Gage at DillonGage.com.
Media Contacts for Dillon Gage
Jo Trizila, TrizCom Public Relations
Amanda Hirschfeld, TrizCom Public Relations
Below are the Dillon Gage Easter weekend holiday hours.
Trading room and refinery hours:
- Thursday, April 14th – Close at 4:00pm Central Time (CT)
- Friday, April 15th – Closed
- Monday, April 18th – Resume normal hours
FizTrade™ electronic trading hours:
- Thursday, April 14th – Close at 4:00pm CT
- Friday, April 15th – Closed
- Sunday, April 17th – Open at 5:00pm CT
- Monday, April 18th – Resume normal hours
A happy and safe holiday from the Dillon Gage family to yours!
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.
Dillon Gage Refinery is one of select few U.S. Refineries of Fairmined Gold from Small-Scale Miners Sourced by Sustainable & Ethical Methods
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 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 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 holding above $1,800 after dipping slightly on the surprising January jobs report revealing a much stronger economy picture than expected after the omicron wave. Continue reading →