Rebounding Dollar & Stocks Hit Gold

The Market Gage - Gold is Elemental

Walter Pehowich is off today. The commentary is from a senior Dillon Gage staffer.

It was a taxing day for the dollar and Dow

The U.S. dollar and world stock markets had a less than stellar day, yesterday, tanking as doubts about U.S. tax reform rose. Continue reading…


Short-Covering Gold Rally

Gold and Silver Market Insights

A short-covering rally in the price of Gold has created a temporary foundation for the yellow metal. Helping the price to stabilize at these levels is a weaker U.S. Dollar and lower Treasury yields.
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Gold Reacts To Tax Bill

Gold and Silver Market Insights

Let’s start off with the question of the day. “If you were a CEO of a major corporation and are looking at a tax cut from 35 percent to 20 percent, how would you spend your windfall?”

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Gold Fails To Break Thru $1300

The Market Gage - Gold is Elemental

In the last couple of days, as the price of Gold failed to break thru the $1,300 dollar level that everyone was looking for, we witnessed the CME Gold open interest decline by over 40,000 contacts. That’s an indication there is a good amount of longs giving up on their investments.

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Gold Flat / Palladium Soars

Gold and Silver Market Insights

The price of Gold is retreating from its most recent highs as Bond prices across the globe decline. It seems that no matter how many new longs come into the marketplace, the price of Gold just can’t break out into new territory.
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Gold Knocking at $1,300 Door

The Market Gage - Gold Silver Market Insights

The price of Gold knocking on the door of $1,300 as the spec longs continue to add on to their positions. Helping the price of Gold this morning is a weaker U.S. Dollar and lower bond yields across the globe.

D.C. Spotlight

Lawmakers are back from their thanksgiving recess to debate the proposed tax bill.

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Gold Longs Hanging On

Market Gage Gold Market Insights

This past Friday when we broke thru the $1,290 level, we witnessed 28,000 new longs come into the market. On Monday, with a $ 20 dollar sell off, only 9,000 contracts headed for the exits. I have a concern now that the market could be vulnerable with what I view as an overbought spec long position in the marketplace.

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Will Gold’s Friday Break Thru Hold?

The Market Gage - Gold is Elemental

Since we described the bond and treasury market in Friday’s Market Gage, I thought it would be appropriate to describe how the CBOE VIX (volatility index) works and why we follow this index so closely.

VIX is the ticker symbol for the Chicago Board Options Exchange (CBOE) Volatility index, which shows the market’s expectation of 30-day volatility. It is constructed using the implied volatilities of a wide range of S&P 500 index options.
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Gold Price Still Handcuffed

Gold and Silver Market Insights

The price of Gold still handcuffed in its twenty dollar trading range. It seems that all markets are waiting to see if the House and Senate can agree on a tax plan. The jury is still out on that outcome, and until it’s settled I don’t expect any significant movement in the price of gold.

The dollar and bond prices virtually unchanged this morning.

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American Eagle Sales as of 11/16/17

Gold and Silver American Eagle Sales

The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on November 16th. The chart also shows the change in sales from 11/9/2017 which we reported on November 10th.
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Gold Stuck In $20 Trading Range

Market Gage - Precious Metals Market Newsletter

Just before I was ready to send out this report, I received a call from an old friend who is a prominent Wall Street trader. He said “I believe that the equity markets have reached the sun and have already started their return to earth.

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Gold Moved Back To The Middle

The Market Gage - Gold is Elemental

The price of Gold back to the middle of the most recent trading range, recovering a little this morning from Friday’s sell off. Mid-morning this past Friday, we saw selling in the Bond market sending the Ten Year Treasury yields from 2.33 percent up to 2.4 percent.
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Gold In Limbo

The Market Gage - Gold Silver Market Insights

The price of Gold in limbo awaiting to see what happens with the two different tax plans being presented by the House and Senate. Gold still struggling to pass the next level of resistance at $1,290. Not helping much, is a slightly weaker U S Dollar and higher Treasury yields.

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American Eagle Sales as of 11/9/17

Gold and Silver American Eagle Sales

The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on November 9th. The chart also shows the change in sales from 11/2/2017 which we reported on November 3rd.
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Gold Traders Hold Long Positions

Gold and Silver Market Insights

As I said in previous reports, it seems that the traders holding long positions in gold and silver (as shown in last week’s commitment of traders reports) show, that they are content with their long positions.

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IDS Opens First Texas Bullion Depository

IDS of Texas - Lone Star First Dedicated Bullion Storage
IDS of Texas Accepting Clients as of Nov. 1

DALLAS, TX (Nov. 7, 2017) – International Depository Services Group (IDS), a privately-owned subsidiary of Dillon Gage Metals, opens Texas’ first precious metals depository, International Depository Services of Texas. Beginning Nov. 1, depository clients who wish to store precious metals bars, rounds and coins in the state of Texas can contact IDS Group and open an account. IDS of Texas, located in Dallas, is the third location for the International Depository Services Group, which also includes IDS of Delaware and IDS of Canada.
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Saudi Purge Boosts Oil & Gold

Market Gage - Precious Metals Newsletter Impacted by Europeon Markets

Walter Pehowich is off today. The Insights are compiled by Dillon Gage analysts.

As we start the week, attention is diverted off of America’s shores.

Over the weekend, oil hit a 2-year high as Saudi Arabia arrested four ministers and 11 princes in an anti-corruption scandal. Oil’s rise in turn boosted precious metals, a bit. Continue reading…


Gold Stuck In The Mud

The Market Gage - Gold is Elemental

The October jobs creation number comes in at 261,000 and the unemployment rate is now at a seventeen year low of 4.1 percent.

The price of Gold seems to be stuck in the mud, trading for the most part between $1,270 and $1,280 dollars.
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American Eagle Sales as of 11/2/2017

Gold and Silver American Eagle Sales

The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on November 2nd. The chart also shows the change in sales from 10/26/2017 which we reported on October 27th.
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Gold Still Positive Despite Dollar

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of Gold and Silver is in positive territory despite a stronger U.S. Dollar and higher Treasury yields.

The Gold ETF investors seem content with holding on to their long positions, as little if any movement out of those funds has been seen in the last two weeks.
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FLASH GAGE – Bitcoin Hits Record High

Flash Gage - News Headlines that Impact precious metals as they happen.

Interesting trick (and for some a treat) announced today.

We’ve been discussing the cryptocurrency phenomenon in The Market Gage a lot here lately, and here’s a little something that will show you why. This morning, CME Group, the world’s leading derivatives marketplace, announced it will launch bitcoin futures in the fourth quarter of 2017, pending all relevant regulatory review periods.
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Gold Up At Start of Busy Week

The Market Gage - Dillon Gage's Precious Metals Newsletter

A busy week ahead, with a slew of corporate earnings, job reports and the newly released charges against the President’s former campaign manager Paul Manafort.

Now to this morning’s markets news.

The price of Gold up a little and off the lows experienced last week. A slightly weaker U.S. Dollar and softer Treasury yields helping keep the price of Gold afloat, at least for the time being.

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Strong Dollar & GDP Pressure Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of Gold under continued pressure this morning as the U,S, Dollar continues to climb. Currently the U.S. Dollar is trading over the 95 handle, highest level in over three months.

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American Eagle Sales as of 10/26/17

U. S. Mint's Gold and Silver American Eagle Year to Date Sales

The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on October 26th. The chart also shows the change in sales from 10/19/2017 which we reported on October 20th.
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Treasury Yields Depressing Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

Hard to make a case for higher Gold prices when the Ten-Year Treasury Yield is sitting at a seven-month high of 2.46 percent. Nonetheless, no one has pulled the rug out from under the Gold price. Still behind the curtain is North Korea and that situation has little chance of going away any time soon.

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Japanese Selling Hits Precious Metals

The Market Gage - Dillon Gage's Precious Metals Newsletter

Metal prices under pressure this morning as strong selling of all four metals is seen overnight in Japan.

Japanese stocks rallied 239 points after Prime Minister Shinzo Abe’s snap election victory. The Nikkei, Japan’s stock market, is now up for fifteen straight days. Japan investors, like here in the States, are finding the equity markets very attractive.
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Gold Slips On Senate Budget Vote

The Market Gage - Dillon Gage's Precious Metals Newsletter

Walter Pehowich is on vacation this week. Market Insights are prepared by senior Dillon Gage analyst.

The bulls continue to run wild, smashing records on Wall Street, as the Dow Jones Industrial Average hit another all-time high Thursday, topping out at 23,163.04. Continue reading…


American Eagle Sales as of 10/19/17

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on October 19th. The chart also shows the change in sales from 10/12/2017 which we reported on October 13th.
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Gold Preps For Near Term Rebound

The Market Gage - Dillon Gage's Precious Metals Newsletter

Walter Pehowich is on vacation this week. Market Insights are prepared by senior Dillon Gage analyst.

After starting the week strong, several factors combined to pressure gold prices.

The shine was taken off the yellow metal on Monday when Bloomberg reported that Stanford University economist John Taylor could have the inside track on Federal Reserve chairmanship as he had “made a favorable impression on President Donald Trump” last week. Continue reading…


Gold Looking To Protect Gains

The Market Gage - Dillon Gage's Precious Metals Newsletter

Walter Pehowich is on vacation this week. Market Insights are prepared by senior Dillon Gage analyst.

Last week saw gold prices ping a three-week high on Friday, pushing right back past the $1,300/oz. threshold once again this year on softer than anticipated Consumer Price Index Numbers. December futures contracts held just higher at $1,303/oz.

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Could Gold Head Over $1300?

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of Gold hitting some resistance around the $1,300 dollar level. We believe that will this continue for a short period of time before heading higher once again.

A weaker dollar and softer treasury yields helping fuel the rally in Gold.
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American Eagle Sales as of 10/12/17

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals for 2017 from the U.S. Mint as of 5pm on October 12th. The chart also shows the change in sales from 10/5/2017 which we reported on October 6th.
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Flash Gage: Gold Reax Fed Minutes Summary

Flash Gage - News Headlines that Impact precious metals as they happen.

Fed minutes released just released. Here are the highlights:

  • Fed is worried about low inflation.
  • Fed participants divided on whether to raise rates in December .
  • Some Fed governors say raising of rates should be deferred until raising inflation figures can be confirmed.
  • The Fed is still committed to reducing the balance sheet.

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Gold Pausing Awaiting Fed Minutes

The Market Gage - Dillon Gage's Precious Metals Newsletter

A tight trading range seen overnight in the price of Gold as the market awaits the minutes from the last Fed meeting to be released today at 2pm EST.

The Dollar Index is lower this morning approaching the 93 level once again helping Gold stay on the high side of its most recent trading range.
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Chinese Buying Lifts Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

The Chinese back from their holiday last week were seen buying gold overnight, that along with a weaker dollar has given the yellow metal a boost.

Controversies and rhetoric out of Washington continue to give everyone a migraine.
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