Gold heads for first weekly drop in four after the minutes of the Federal Reserve’s December meeting were released on Wednesday, reducing expectations that interest rate cuts were imminent and strengthening the dollar and Treasury yields. The yellow metal dropped briefly on this morning’s positive jobs numbers, but rebounded quickly. Continue reading →
Gold slips on rising dollar early Wednesday, ahead of the Fed comments this afternoon and despite support from concerns on geopolitical unrest. Continue reading →
Gold was little changed early Friday as it heads for its best year since 2020, buoyed by a dollar that is weakened amid speculation that the Federal Reserve will begin interest rate cuts early next year as inflation growth has slowed. Continue reading →
Here are the 2023 American Eagle YTD sales totals for Gold and Silver American Eagles from the U.S. Mint as of 5pm on December 28th. The following chart is updated weekly, or as data is provided by the mint. This chart includes the changes from the last report on December 1st. Continue reading →
Gold up early Wednesday, adding to last week’s gains, on expectations of 2024 rate cuts after a key inflation measure rose less than expected for November. The yellow metal is headed for its best year in three. Continue reading →
Gold rises to three-week high amid speculation that the Federal Reserve will begin cutting interest rates next year, egged on by this morning’s tepid inflation data. DG spot gold jumped $5 an ounce to over $2070. Continue reading →
Gold tips down early Wednesday on varying Fed signals on future monetary policy from Federal Reserve officials. Continue reading →
Gold climbs early Monday after last week’s rally on weaker dollar. The rally was sparked by last week’s signs that the Federal Reserve will begin easing monetary policy next year. Continue reading →
Gold heads for weekly gain, after rallying for a third day on post-Fed comment momentum. The yellow metal lost some altitude this morning on profit-taking and strengthening dollar, but it remains strong following the Federal Reserve’s monetary policy statements on Wednesday. Continue reading →
Gold tips up early Wednesday on weaker bond yields before this afternoon’s Fed decision. Investors await the decision and Chairman Jerome Powell’s statement about the state of the economy for further direction. Continue reading →
Gold slips under $2000 on firmer dollar as investors awaited further direction from this week’s monetary policy decision from the Federal Reserve. Continue reading →
Gold loses ground on jobs data, heading for its first weekly drop in four weeks. The spot price of the yellow metal lost a tad over $10 an ounce in response to the surprisingly positive employment numbers. Gold also came under pressure as the dollar strengthened. Continue reading →
Gold rises as investors await Friday’s jobs report. It edged higher early Wednesday as the dollar weakened on this morning’s ADP jobs number. Continue reading →
Gold powers to a new record with spot prices hitting $2,110.80 an ounce early Monday amid haven demand linked to the war between Israel and Hamas and speculation that the Federal Reserve will begin cutting interest rates next year. The yellow metal then receded below the $2,100 on profit taking. Continue reading →
Gold steady after second straight monthly rally amid heightened speculation that the Federal Reserve’s interest rate increase cycle has peaked and that the central bank will either hold or cut rates going forward. The yellow metal has also set its sights on its third straight weekly gain. Continue reading →
Gold holds gains near six-month high early Wednesday made during the previous session amid support from a weaker dollar and expectations that the Federal Reserve may be done raising interest rates. Continue reading →
Gold firmly above $2000, hitting a six-month high early Monday as the dollar weakened and speculation increased that the Federal Reserve would pause its series of interest rate hikes next month. Continue reading →
Gold steady near the $2,000-an-ounce threshold early Wednesday on a weaker dollar and reduction in U.S. bond yields amid renewed hopes that the Federal Reserve will pause its series of interest rate hikes. Continue reading →
Gold fell early Monday as last week’s bullish bets that the Federal Reserve may be about to end its cycle of interest rate hikes fizzled out.
Trading was also expected to be light this week going into the U.S. Thanksgiving holiday on Thursday. Last week, gold posted its first weekly gain in three on interest rate speculation and, subsequently, a weaker dollar and Treasury yields. Gold comes under pressure when interest rates, the dollar and Treasury yields are strong, and last week was the dollar’s worst in four months.
Front-month gold futures rose 2.4% last week to settle at $1,984.70 an ounce on Comex, though the December contract slipped 0.1% Friday. Bullion gained 6.9% in October after falling 5.1% in September and dropping 2.2% in August. The metal is up 8.7% in 2023. The December contract is currently down $12.00 (-0.60%) an ounce to $1972.70 and the DG spot price is $1972.20.
CME FedWatch Tool shows that 99.8% of the investors it tracks are betting that the Fed will keep its federal funds rate unchanged in December, a shift from 90.9% a week ago, and .2% of the investors think the Fed will lower the rates by 25 basis points. The Fed has boosted interest rates by 5.25 percentage points since March 2022 to curb inflation to the 2% level. The Fed kept interest rates unchanged at 5.25% to 5.50% earlier this month. The central bank has raised interest rates only once since May.
Minutes of the last Fed policy meeting in November are due out Tuesday and will be closely watched by investors for further signals on monetary policy.
In other economic news, U.S. weekly initial jobless claims come out Wednesday, early because of the Thanksgiving holiday. Final consumer sentiment data for November are also due out Wednesday. U.S. manufacturing PMI comes out Friday. The U.S. retail holiday sales season, which is often used as an economic indicator, begins at the end of this week with Black Friday.
Separately, gold came under some pressure following a deal between Israel and Hamas for the group to release hostages taken during the Oct. 7 attack on Israel. This is likely to trigger a multiday pause in the conflict. That’s bearish for gold, a haven asset in times of geopolitical uncertainty.
December silver futures increased 7.1% last week to settle at $23.85 an ounce on Comex. March is now the most-active contract, and it fell 0.3% Friday to $24.20 Friday. Silver increased 2.2% last month after decreasing 9.5% in September and slipping 0.6% in August. It’s down 0.7% in 2023. The December contract is currently down $0.257 (-1.08%) an ounce to $23.595 and the DG spot price is $23.48.
Spot palladium surged 9.2% last week to $1,071.00 an ounce, and it advanced 1.6% Friday. Palladium dropped 10% in October after rising 3% in September and sliding 5.3% in August. Palladium has plummeted 41% so far this year. Currently, the DG spot price is up $27.10 an ounce to $1096.00.
Spot platinum rose 6.4% last week to $905.10 an ounce and edged up 70 cents Friday. Platinum gained 3.5% in October after declining 6.6% last month and advancing 1.7% in August. Platinum is down 15% in 2023. The DG spot price is currently up $10.10 an ounce to $913.80.
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 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 withdraws a bit from early morning gains on profit-taking, but still poised for first weekly gain in three weeks on speculation that the Federal Reserve may be able to pause or end its series of interest rate hikes. Gold scales two-week high on expected Fed pause. Continue reading →
Gold yo-yos on inflation data, hitting a one-week high early Wednesday after the dollar and Treasury yields weakened following yesterday’s inflation report. The yellow metal started to waffle, dipping on profit-taking, then regaining some ground on this morning’s inflation report. The small boost was followed by a shallow dip caused by further profit-taking. Continue reading →
Gold rebounded early Monday after declining for two consecutive weeks, as investors await tomorrow’s inflation data, though prices hovered near three-week lows on a stronger dollar. Continue reading →
Gold falls early Friday on Federal Reserve Chairman Jerome Powell’s hawkish comments. The yellow metal is heading for a second consecutive weekly decline, after the Fed chair increased speculation that the central bank may not be done yet with its series of interest rate hikes. Palladium tumbled to its lowest level since 2018. Continue reading →
Gold ebbs slightly on Fed Chairman Powell’s comments this morning after slipping earlier on increased risk appetites. Continue reading →
Gold drops as bond yields rise, falling early Monday as risk appetite also picked up adding to the pressure on the precious metal. Continue reading →
Gold climbs on U.S. jobs report which showed some cooling in the economy. The news brought gold’s spot prices back above the $2000-an-ounce mark. Continue reading →
Gold steady as investors brace for the Fed decision this afternoon. The yellow metal slipped below the $2,000-an-ounce level earlier Wednesday. Continue reading →
Dallas (October 31, 2023) Dillon Gage, the global leader in physical precious metals trading and technology attains its latest milestone, The Responsible Jewellery Council (RJC) certification against RJC’s 2019 Code of Practices (COP). This certification, issued for three years, underscores Dillon Gage’s unwavering dedication to responsible jewelry practices and its commitment to promoting ethical, social and environmental responsibility across its operations. Download press release Continue reading →
Gold rises above $2000 an ounce early Monday amid safe haven demand stemming from the escalating conflict in the Mideast ahead of Fed. Continue reading →
Gold poised for a third consecutive weekly gain Friday as the conflict in the Middle East propped up prices while expectations that the Federal Reserve would leave interest rates high for some time pressured them. The yellow metal drifted down after the release of this morning’s inflation data. Continue reading →
Gold steady below $2,000 threshold early Wednesday, sticking to elevation from the conflict in the Middle East and softer U.S. Treasury yields, but pressured by diplomatic efforts to keep the Israel-Hamas war from spreading and expectations that the Federal Reserve will keep interest rates high. Continue reading →
Gold declines from a five-month high early Monday as investors switched their focus to upcoming economic data from the conflict in the Middle East. Continue reading →
Gold rises to three-month high early Friday, on the Middle East conflict between Israel and Hamas and speculation that Federal Reserve rate hikes may soon come to an end. Continue reading →
Gold rises early Wednesday on the intensifying Mideast conflict after hundreds of people died from a rocket attack Tuesday in Gaza that each side blamed on the other. Continue reading →
Gold digs in above $1900 on Middle East conflict, after slipping from a one-month high early Monday as profit takers and technical sellers cashed in on the more than 3% rally in the previous session.  Continue reading →
Gold heads for best week in seven months, rising above the $1900 mark early Friday on safe haven investing. Continue reading →
Gold tips up in Wednesday morning trading as safe haven buyers return to power the rally sparked by the Middle East conflict and treasuries subside despite this morning’s economic data showing inflation ticking up in September. Continue reading →
Gold rallies on Mideast conflict, climbing over 1% early Monday as haven investors sought the yellow metal. Continue reading →
Gold drops on surprising jobs report. After drifting higher in early trading, the yellow metal dropped on fears that the Fed would increase its hawkish moves on interest rates. The DG spot price fell $10 an ounce, but quickly rebounded as Bulls stepped in to buy the dip. Continue reading →
Gold retreats from a brief Morning peak that was powered by jobs data. The DG spot rose to $1830 on the news, then fell back $10 an ounce. Investors now await the release of the monthly U.S. jobs report for September on Friday for further direction. Palladium traded at a five-year low. Continue reading →
Gold falls to trade near a seven-month low early Monday amid a strong dollar and expectations that interest rates will remain high for some time. Continue reading →
Gold regains ground early Friday as the dollar stalls, but the yellow metal still heading for a quarterly decline amid speculation that the Federal Reserve will continue to keep interest rates high. Today’s inflation data gave gold a slight boost. Continue reading →
Gold ebbs as higher interest rate concerns boost dollar. The yellow metal drifted below the $1900 mark early Wednesday on increased speculation that the Federal Reserve will keep interest rates. Continue reading →
Gold steady ahead of inflation report early Monday as investors anticipated the release of a key inflation report Friday and and the government shutdown looms. Continue reading →
Gold edged higher early Friday, rising from one-week low though it remained near a one-week low amid expectations that the Federal Reserve will continue its cycle of interest rate hikes for a bit longer. Continue reading →
Gold steady early Wednesday as investors await the Fed monetary policy decision this afternoon – expected to be a pause in interest rate hikes – and looked for guidance on whether the rate increase cycle would resume after this month’s Federal Reserve policy meeting. Continue reading →
Dillon Gage Refinery has moved to a larger facility and we’ve updated our systems. So, bigger and better is the only way to describe the change. This means even faster turnaround times. While our industry-leading customer service on everything from low-grade powder to karat gold remains the same. Continue reading →
Gold steady early Monday ahead of Fed decision, as investors expect a pause in interest rate hikes. Continue reading →
Gold recovers from three-week lows early Friday,iday aided by the dollar’s retreat after better-than-expected Chinese data. Traders now turn their eyes to next week’s meeting of the Federal Reserve for guidance. It’s widely expected that the Fed will leave interest rates unchanged. Continue reading →
Gold bobbles on the release of key U.S. inflation report as investors digest how the report’s uptick may influence the Federal Reserve’s plans for future interest rate increases. Continue reading →
Gold poised for a weekly drop as speculation mounted that the Federal Reserve will keep interest rates high for some time, supporting the dollar and Treasury yields. Prices ticked higher Friday. Continue reading →
Gold steady near one-week lows early Wednesday as gains in the dollar and Treasury yields pressured the yellow metal. Continue reading →
Gold ticks up on mixed jobs report and is poised for a second week of gains as economic data points to slowing inflation. Continue reading →
Gold boosts on this morning’s key economic data on employment and the GDP that reflects a slowing economy. Continue reading →
Gold relatively steady, tipping up slightly early Monday, shrugging off the comments from Federal Reserve Chairman Jerome Powell and European Central Bank President Christine Lagarde last week that interest rates should remain high, bolstered by the possibility of upcoming weak economic reports. Continue reading →
Gold aims for best week in six weeks despite the dollar slipped rebounding early Friday to two-and-a-half-month highs. Now all eyes turn to Jackson Hole. Continue reading →
Gold back over $1900 an ounce early Wednesday before the Jackson Hole conference as some investors did some bargain hunting while awaiting further signals on the state of the global economy at the end of the week. Continue reading →
Gold stagnant just below the $1900 an ounce level as investors await news out of Jackson Hole during the annual gathering of central bankers at the end of the week. Continue reading →
Gold higher rising from five-week lows early Friday as the dollar and Treasury yields fell from recent highs, but the yellow metal still heads for fourth weekly dip. Continue reading →
Gold tips slightly down on strong U.S. housing data, sticking above the key $1,900 support level early Wednesday as Treasury yield rose amid speculation that the Federal Reserve may increase interest rates further. Continue reading →
