Can Geopolitical risks accelerate a rally in precious metals? We’ll explore that topic today, but first let’s look at this morning’s market news:
Precious metal prices are in recovery mode after testing and trading thru the 100-day moving average.
Helping the price of gold this morning is a weaker dollar and Ten-Year Treasury yields.
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The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on May 11th. Continue reading →
Gold and Silver CME futures volumes jump over 30 percent in April compared to April 2016, but most see this price action headed in the wrong direction.
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The market finds support after last week’s selloff. Neither Le Pens loss in the French Election nor the stronger dollar and higher Ten Year Treasury yields seem to have had a negative impact in the price of gold this morning. Continue reading →
The price of Gold in recovery mode this morning despite a stronger dollar and higher treasury yields.
Some Wall Street Gold traders on Wednesday put on short positions as the price of gold broke thru the 200 day moving average at $1,250.80. As I indicated in the past, their strategy is to make a profit of fifteen to twenty dollars and get out. And that’s exactly what they did as soon as we broke thru the strong support level of at $1,232.00.
Now onto economic and political headlines from Europe.
The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on May 4th. Continue reading →
No change in Fed policy at today’s May meeting. the FOMC Watch Tool gives a chance of a 25 basis point rate hike at 67.4 percent at the next meeting in June. Continue reading →
The Fed concludes its May meeting today with the Street only looking at a 4.8 percent chance of a rate hike. Continue reading →
Quiet start to the week as we see the dollar in negative territory and Ten-Year treasury yields slightly higher. Continue reading →
The price of Gold shows no reaction to the 1st quarter GDP number released this morning. Real gross domestic product only increased at an annual rate of 0.7 percent, compared to the fourth quarter 2016 which showed an increase of 2.1 percent.
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The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on April 27th. Continue reading →
Let’s start with the domestic morning headlines that are impacting precious metals: Continue reading →
Dillon Gage is changing the way IRAs are facilitated with IRAConnect.
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Le Pen’s second place finish hurts the price of gold. Continue reading →
If you read our comment on Wednesday, I indicated that we would have to hold the level of support in gold at the $1,278-$1,279 level in the June gold contract otherwise I believed that the anticipated Wall Street Gold traders stop loss levels would be triggered. Continue reading →
The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on April 20th. Continue reading →
A weaker dollar index of late under 100 keeping the price gold a float. Continue reading →
Let’s start this Monday morning with some headlines: Continue reading →
The U.S. just dropped the mother of all bombs on an ISIS tunnel in Afghanistan. This is the largest non-nuclear bomb the U.S. has in its arsenal. Continue reading →
Where do I start? There is so much going on here in the States and around the globe that affects the price of gold in a positive way. Continue reading →
The Gold market is heating up as North Korea has issued a stiff warning to the U.S. Continue reading →
The attack in Syria and the poor jobs report cannot get gold to stay above its 200-day moving average at $ 1256.25 spot – number that all traders see as a level of support that must be maintained for gold to trade higher. Continue reading →
Last night, as soon as the news hit the wires that the United States had dropped tomahawk missiles on Syria, gold rallied $12 dollars. Continue reading →
The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on April 6th. Continue reading →
We have a lot to talk about today, so let’s get started withtoday’s market information. Continue reading →
Fed leak and I’m not surprised… Continue reading →
We start the second quarter of 2017 on a quiet note. Continue reading →
Fed comments continue to suppress the price of gold.
We end the week with dollar index and Ten-Year Treasuries virtually unchanged. Wall Street gold traders continue to be absent from trading as the market seems to have no definitive direction. One gold trader I spoke with this morning said, “For the time being, I’m having better results trading in the oil market.”
Small outflows overnight reported in all four metals in the ETF arena.
Now to the news across the pond.
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The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on March 30th. Continue reading →
ADDISON, Texas (March 30, 2017) – Dillon Gage Metals, an international precious metals wholesaler, has been selected as a finalist by the Platts Global Metals Awards Selection Committee in two categories. Continue reading →
Walter Pehowich is off today. A senior DG Staffer provided today’s commentary.
Wall Street is breathing just a tad easier with the market jumping 151 points on Tuesday, ending nine consecutive days of losses, the worst streak since 2011. It appears investors may have been spooked by the stunning rejection of health care reform last week, with thoughts now turning to President Trump’s tax reform plans. Will this initiative meet the same fate? Only time will tell.
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Wall Street’s frustration with Washington’s gridlock gives gold a boost this morning. Equities to open much lower as retail investors scramble to put their stop loss orders in on the Dow Industrial’s open. Taking some profits off the table could be a wise move right now.
Last night when I was watching the action in the Far East, it was apparent that gold and silver would be opening stronger here in the States. The activity in the dollar was brisk, trading lower versus other world currencies. Currently the dollar index is trading at 98.89, down 88 basis points which helps the rally in gold.
Also giving gold a boost are the World’s Ten-Year Bond yields which are all lower on the day.
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President Trump flexing his muscle and demanding a vote today on his health care bill. We all know the President hates to lose and if he doesn’t get his way he will move on to tax reform. Continue reading →
The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on March 23rd. Continue reading →
Gold yesterday settled close to a 3-week high and was up for the fourth day in a row. Continue reading →
The Dow is down over 180 points at the time of this report this morning after being in positive territory early in the day. Continue reading →
We start the week with gold up just a little, off of a slightly weaker dollar and softer treasury yields. Continue reading →
All eyes on the G20 meeting of the Finance Misters and Central Bank Governors which starts today in Germany. Continue reading →
The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on March 16th. Continue reading →
Yesterday Janet Yellen stopped short of predicting four rate hikes this year, weakening the dollar and treasury yields which in turn gave gold a boost. Continue reading →
A lot of news to share with you this morning.
All eyes on the Fed today with the results on interest rates to be revealed at 2pm ET. The street expecting a .25 basis rate hike. The CME Watch tool has the odds of a rate hike at 90.8 percent this morning. All will be listening to the Chairwoman’s comments at the press conference after the announcement. Her view on the economy and how many more rate hikes she expects this year are on the minds of all traders and investors.
It would be interesting to hear if there were any voting Fed members who wanted to raise rates 50 basis points at this meeting to show the world they are ahead of the curve. Any surprises will have a profound effect on all the global markets.
The price of Gold starts the week treading water above the $1,200 dollar level. Continue reading →
Here are the Friday morning headlines we are watching that are impacting precious metals. Continue reading →
The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on March 9th. Continue reading →
As we monitor all news from around the world, today we are watching live the press conference of ECB President Mario Draghi. Here are the headlines: Continue reading →
The onslaught of negative news continues to put pressure on the metals this morning. The stronger dollar index now over 102. Stronger yields in the U.S. ten-year treasuries also hurting Gold. So much so that ten-year bond yields around the globe in countries such as Germany, France and Italy, all are showing a good increase in their 10-year bond yields.
Now that the 50-day and 100-day moving average has been violated, some Wall Street gold traders have indicated that they will take on a short position in gold and silver. They are now looking for the selloff to accelerate with hopes that the $1,200 dollar level in gold and the $17.00 dollar level
will be tested some time soon. These guys typically don’t like to hold a position too long unless the momentum is in their favor. If this market reverses they will cover in a heartbeat.
Gold under continued pressure this morning with the price stopping right at the next level of support at $ 1215.80 in the April contract. Continue reading →
After reaching a three week low in the price of gold on Friday, the yellow metal has rebounded nicely this morning. Despite all the news of higher interest rates and the stronger dollar, the price is still holding above the $1,230 area
Good news for the longs as on Friday at one point it looked like the market was going to test the 100-day moving average around the $1,218 area, but steady buying emerged when the market traded down to $1,223 in the April contract.
Continued pressure hitting the price of gold and silver this morning as the realization is setting in that more than one rate hike is a good possibility in the coming months. Continue reading →
The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on March 2nd. Continue reading →
Can I be so bold today and use a comment made by Alan Greenspan in a speech years ago and equate our equity markets with the so-called DOT-COM bubble as a market of “Irrational Exuberance.” Continue reading →
Gold selling off this morning after the market absorbs a few Fed President’s comments that they are seriously considering raising rates at the next Fed meeting in March. Continue reading →
Recently I have been sharing news about the troubled banking system facing Italy, but it’s time to once again to address the problems facing Greece.
Earlier in February while speaking in front of his party’s central committee, Greece’s Prime Minister Alexis Tspiras sent some choice comments to the German Finance Minister. He said he wasn’t pleased with the “constant aggressiveness” against Greece and his “contemptuous remarks” toward the Greek people.
He also took a shot at the International Monetary Fund, as he put it, for not telling the EU the truth about the requirements for an economic recovery for his country. After many bailouts, Greece is now looking for a another.
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The price of gold continues to march forward even in the face of Fed Presidents’ comments calling for three rate hikes this year and the Dow setting a new record for the tenth straight day. Continue reading →
The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on February 23rd. Continue reading →
Don’t fall asleep at your post. You might just be missing some thing you would regret. Continue reading →
SOME BIG IFS!
Fed minutes just released show that some officials expressed confidence that they can raise rates gradually. Continue reading →
All eyes on the Fed today as they release the minutes from the January 31–February 1 meeting at 2 pm today. Continue reading →
Ready for Signals….
With President’s Day upon us, our markets are a little quieter than usual. Continue reading →
Walter is on vacation through 2/21/17. This post was written by a Dillon Gage Precious Metals Staff expert.
Steady as She Goes… Continue reading →
