Gold Slips on Durable Goods Data

Gold Slips on Durable Goods Data

Gold slips on December US Durable Goods data that missed expectations. The yellow metal also off a bit overnight as the dollar slightly strengthened. Now investors await this afternoon’s comments from Federal Reserve Chairman Jerome Powell at the end of the central bank’s first policy meeting of the year for insight about the state of the economy. Continue reading →

Gold Rises Ahead of Inauguration

Gold Rises Ahead Of Inauguration

Gold rises ahead of Biden’s inauguration, extending gains early Wednesday on speculation of a new U.S. stimulus package after testimony Tuesday by Treasury Secretary-designate Janet Yellen and in anticipation of President-elect Biden. Continue reading →

Gold Slips on Economic Data

Gold Slips on Economic Data

Gold slips this morning on the release of U.S. economic data that illustrate the country’s ongoing fiscal struggle against the pandemic including disappointing retail sales and Producer Price Index (PPI) for December. The yellow metal fell over $10 an ounce on the news, but has regained a little of that ground and is back over $1,840 and ounce. Continue reading →

Gold Fell Below $1,900

Gold Fell Below $1,900

Gold fell below the key $1,900 threshold on Friday pressured by gains in the dollar and Treasury yields. The yellow metal had little reaction to the bad employment news released this morning. Continue reading →

Gold Slips 1% Wednesday

Gold Slips 1% Wednesday

Gold slips 1% on Wednesday, after nearing a two-month high overnight, as investors exercised some profit taking and the dollar stopped its slide. Meanwhile the markets are keeping an eye on the outcome of Georgia’s U.S. Senate run-off and this afternoon’s release of December’s Fed minutes. Continue reading →

Gold Jumps Over 2%

Gold Jumps Over 2%

Gold jumps over 2% early Monday, to begin the new year with a bang. The yellow metal hit an eight-week high above $1,900 an ounce, its highest point in over eight weeks, as the dollar slid to 2018 lows and prospects of tougher restrictions to combat a new variant of the coronavirus kept safe-haven bullion in demand. Continue reading →

Gold Rises on Weakened Dollar

Gold Rises on Weakened Dollar

Gold rises on weakened dollar as the currency fell to its lowest level in more than two years against the euro early Wednesday, bolstering the yellow metal as an alternate investment. However, news that Britain approved a COVID-19 vaccine developed by AstraZeneca and Oxford University is keeping gold from soaring. Continue reading →

Gold Challenging $1,900

Gold Challenging $1,900

Gold challenging $1,900 again as investors buy the dip that occurred overnight when the dollar steadied and stock markets rallied. Gold was on track for its highest close in seven weeks, after U.S. President Donald Trump signed a pandemic-relief bill including stimulus and the dollar fell. Continue reading →

Gold Rises On Firmer Relief News

Gold Rises On Firmer Relief News

Gold rises as headlines reveal firmer COVID relief news. A meeting between House Speaker Nancy Pelosi, Senate Democratic leader Chuck Schumer, Senate Majority Leader Mitch McConnell and House Republican leader Kevin McCarthy this morning is expected to end with a finalized Covid-19 relief package. Continue reading →

The Future Is Green For Platinum

The Future Is Green For Platinum

When we last checked in on platinum in June, the Covid-19 pandemic had just caught the world by surprise. The global economy was in the grips of a rapid slowdown which hurt some of Platinum’s biggest demand drivers, especially in the automotive sector. A series of automotive plant shutdowns around the world, in particular, plunged platinum prices in March to its lowest levels since 2002. Continue reading →

Gold Makes Modest Gains

Gold Makes Modest Gains

Gold makes modest gains as this morning’s PPI numbers show inflation remaining benign. Gold had edged higher earlier Friday as the dollar traded near its lowest level in two and a half years, coronavirus cases surged and a weak U.S. jobs report made it less likely that the economy would quickly recover from the pandemic. Continue reading →

Gold Rebounds From Dip

Gold Rebounds From Dip

Gold rebounds from early morning dip that was brought on by a stronger dollar and global optimism as Britain prepares to start COVID-19 vaccinations on Tuesday. The yellow metal dropped a touch over $10 an ounce, but sprung back as investors bought the dip. Continue reading →

Gold Fell On Vaccine Optimism

Gold Fell On Vaccine Optimism

Gold fell early Monday on vaccine optimism which propelled investors into equities at the expense of gold. The yellow metal’s price fell despite the dollar hitting its lowest level in two and a half years. The Dow fell 250 after this morning’s opening bell, but is still set for its best month since 1987. Continue reading →

Gold Reclaiming Some Ground

Gold Reclaiming Some Ground

Gold reclaiming some ground on weaker U.S. dollar this morning. Meanwhile, European stocks and U.S. equity futures have applied the brakes following yesterday’s record setting session on the Dow driven by vaccine hopes and relief over progress being made in the transition to a Biden administration. Continue reading →

Gold Eased on New Vaccine News

Gold Eased on New Vaccine News

Gold prices eased Monday when AstraZeneca offered new vaccine news in the fight against COVID-19, overshadowing an earlier boost from a weaker dollar. U.S. gold futures slipped 0.6% lower to $1,861.40 on the announcement. AstraZenaca reports its vaccine could be around 90% effective. Continue reading →

Gold Pops On New Stimulus Hopes

Gold Pops On New Stimulus Hopes

Gold pops on new stimulus hopes this morning as Secretary Mnuchin announces new meetings in coming weeks. The yellow metal had been holding steady fighting pressure following yesterday’s announcement by Mnuchin that key lending programs at the Federal Reserve would expire on Dec. 31, putting the future of fiscal support in doubt. Continue reading →

Gold Climbs Back

Gold Climbs Back After Vaccine News Dip

Gold climbs back after vaccine news once again raises hopes. Drugmaker Moderna announced positive news on the effective rate of its COVID-19 vaccine, raising hopes for the economic recovery. The headlines took a bit of shine off gold’s safe haven status, but investors quickly stepped in to buy the dip. Continue reading →

Gold Eases on Stronger Dollar

Gold Eases on Stronger Dollar

Gold eases on stronger dollar this morning as optimism over a potential COVID-19 vaccine boosts the market, but the yellow metal is still being supported by the belief that monetary support to resuscitate the economy is still possible. Continue reading →

Gold falls on vaccine news

Gold Falls on Vaccine News

Gold falls on vaccine news this morning. Pfizer and Germany’s BioNTech revealed trial data this morning that indicates a 90% effective rate for their Covid-19 vaccine. Gold dropped below $1,900 on the news, while U.S. Stock Futures surged, with the Dow set to rise a record 5% at the opening bell. Continue reading →

Gold Up on Weakened Dollar

Gold Up on Weakened Dollar

Gold up on weakened dollar as the yellow metal appears headed to its best week since July and the dollar looks at its worst week since March. Uncertainty about the U.S. election which would likely impact continued pandemic stimulus and monetary policy are supporting gold’s attraction. Continue reading →

Gold Back Above $1,900

Gold Back Above $1,900

Gold is back above $1,900 after sliding over 1% on Wednesday on presidential election doubts. The yellow metal’s rise in the last few hours this morning is attributed to the dollar steadying and rising hopes that Democrat Joe Biden could still win the White House, which raises hopes for a larger U.S. stimulus. Continue reading →

Gold Climbing Toward $1,900

Gold Climbing Toward $1,900

Gold climbing back toward $1,900 this morning following two straight sessions of declines. The yellow metal is riding the wave of investors seeking refuge on the news of rising COVID-19 cases and worries over the upcoming U.S. elections which have taken down the dollar’s recent rally. Meanwhile, the Dow is headed for its worst week since March. Continue reading →

Gold Steady Above $1,900

Gold Steady Above $1,900

Gold steady above $1,900 Friday morning despite a strong dollar and an ongoing stalemate in U.S. stimulus talks. The yellow metal slipped a touch on this morning’s U.S. Retail sales report for September, and could hit its first weekly decline in three weeks. Continue reading →

Gold Back Over $1,900

Gold Back Over $1,900

Gold back over $1,900 this morning on concerns over the global economy and questions about the U.S. presidential election. Gold showed little reaction to this morning’s Producer Price Index (PPI) numbers. Continue reading →