Blog

Gold little changed by the release of the key April jobs report, which investors were watching closely for indications on the state of the economy and the labor market.

Gold clinging above the $1,860 range as investors await the afternoon’s expected rate hike announcement from the Federal Reserve.

Gold tumbles early Monday as bond yields strengthened ahead of this week’s Fed meeting when the Federal Reserve members are expected to announce an aggressive interest rate increase to combat 40-year highs in inflation.

Continue reading →

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.

Gold sticking near $1,900, after falling early Wednesday as the dollar held near its highest level in more than two years.

Gold drops on strong dollar, trading at the lowest level in four weeks early Monday, briefly dipping below $1,900 an ounce. The looming U.S. rate hike is always weighing on the precious metal.

Gold poised for biggest slump in five weeks on hawkish comments from the Federal Reserve that energized treasury yields and the dollar. Continue reading →

Gold steadies after slipping to its lowest level in almost two weeks at the beginning of the trading day on a stronger dollar. However, the dollar index and Treasury yields then softened leading to the bullion regaining some ground.

Gold hits a one-month high early Monday on the escalating conflict in Ukraine which is driving extreme geopolitical concerns and attracting haven demand. Continue reading →

Gold hits one-month high in early Wednesday trading as concerns over the conflict in Ukraine and surging inflation continue to drive the market. Spot gold hit $1,979.95 an ounce, the highest since March 14th and has wavered near that mark throughout the trading morning. Continue reading →

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.

Gold was rangebound caught between stronger dollar that pressured the precious metal, while haven demand related to the war in Ukraine bolstered it. The yellow metal does appear headed for a weekly rally. Continue reading →

Gold steady ahead of this afternoon’s release of the Fed minutes. Opposing pressures early Wednesday kept the bullion in check. The dollar and Treasury yields rose to multiyear highs while haven demand from the Ukraine war and the pandemic kept prices supported.

Gold climbs in early trading as calls for Russian sanctions grow as peace talks fail to progress and images of what appears to be the deliberate killing of civilians in Ukraine. The impending Fed rate hike continues to cap the bullion’s gains. Continue reading →

Gold down early Friday on a stronger dollar and higher treasury yields, reacting very little to this morning’s U.S. jobs report. Continue reading →

Gold rises early Wednesday as the U.S. dollar and Treasury yields weakened, though the precious metal came under pressure because of peace talks between Russia and Ukraine. The yellow metal continued to rise after this morning’s placid job numbers. Continue reading →

Gold slipped early Monday as U.S. treasury yields and the dollar rose, boosting on the scheduled peace talks to end the Russia-Ukraine war. The bullion more than 1% early in the trading day, down to $1,927 an ounce. Continue reading →

Gold aims for third weekly rally in four weeks, despite a small corrective withdrawal in the early part of Friday’s trading. The metal continues to be supported by the crisis in Ukraine. Continue reading →

Gold gains on continuing concerns over the Ukraine war and strong inflation, despite strong Treasury yields pressuring the precious metal. Continue reading →

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’s volatile week continues this morning as it claws its way back from an early morning dip to near $1,940 an ounce. The yellow metal’s week has swung more than $100 an ounce on the Fed rate decision and the ongoing war in Ukraine. Continue reading →

Gold steadies ahead of Fed rate decision, headed for a fourth consecutive drop early Wednesday as investors awaited a widely anticipated interest rate hike from the Federal Reserve. Continue reading →

Gold fell on Treasury yields early Monday ahead of this week’s anticipated interest rate hike by the Federal Reserve. The yellow metal and palladium were also dinged by cautious peace hopes for Ukraine. Continue reading →

Gold slipped below $2,000 an ounce early Friday, but still aims for second straight weekly gain. The yellow metal is under pressure from higher Treasury yields, after the sharpest increase in U.S. monthly inflation in 40 years, as investors eye likely U.S. rate hike. 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 surged above the $2,000-an-ounce threshold early Monday after the weekend’s escalations in Russia’s invasion of Ukraine. The yellow metals has since backed off on profit-taking. Palladium also traded at a record high amid supply concerns. Continue reading →

Gold steady despite this morning’s jobs data that shows a surprising surge for February. The yellow metal rose early Friday, heading for its best week since May, as the Russian invasion of Ukraine escalated and investors sought out safe-haven assets. Continue reading →

Gold slips early Wednesday as palladium climbs, extending a seven-month high, on the worsening conflict between Russia and Ukraine. Continue reading →

Gold and palladium rally early Monday on Ukrainian news. Headlines from the invasion worsened over the weekend, with Western powers imposing new sanctions on Russia and Russian President Vladimir Putin putting Russia’s nuclear force on high alert. 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 rally cools but sticks near $1,900 an ounce as risk appetite starts to fight with fears over mounting tensions between Russia, Ukraine and western powers. Higher U.S. Treasury yields curbed also challenging the yellow metal. Continue reading →

Gold steady near $1,900 threshold, as investors anticipated a summit on Ukraine between U.S. President Joe Biden and Russian President Vladimir Putin. The yellow metal hit, then slipped from an eight-month high it hit in early session trading. Continue reading →

Gold slips early Friday after crossing $1,900-an-ounce threshold in the previous session amid escalating tensions between Russia and Ukraine. The yellow metal looks headed to its third straight weekly rally. Continue reading →

Gold sticking near $1,860 an ounce, despite the easing of tensions between Russia and Ukraine on Tuesday. The yellow metal steady after this morning’s U.S. retail sales report showed a solid jump in January as investors await this afternoon’s Fed minutes. Continue reading →

Gold hits three-month high early Monday as escalating tensions between Russia and Ukraine made an armed conflict between the two countries more likely. Continue reading →

Gold drops early Friday on rate hike speculation sparked by hawkish comments from a Federal Reserve official after Thursday’s U.S. inflation report indicated a large interest-rate increase was pending. Continue reading →

Gold steady ahead of inflation report, inching toward a two-week high early Wednesday as investors awaited Thursday’s U.S. inflation data for January and bond yields dip. Continue reading →

Gold rises on inflation fears, touching over a one-week high early Monday as the dollar weakened. 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 →

Gold sticking above $1,800, back above that line after some early Wednesday profit taking following a two-day rally. The yellow metal is entrenched in this range, supported by a weaker dollar, as investors await Federal Reserve moves on monetary policy. Continue reading →

Gold once again nears $1,800 on bargain hunting as investors buy the dips. The yellow metal looks headed for its worst month since September, as the dollar strengthened, and new inflation data released Friday reinforced the Fed’s inclination to tighten monetary policy and raise interest rates. Continue reading →

Gold down as dollar roars on the near certainty that the Federal Reserve would raise interest rates at its next meeting. The dollar index hit its highest point since July 2020 in early morning trading. Continue reading →

Gold slips from near two-month high Wednesday ahead of a Federal Reserve announcement expected to indicate an escalated pace of monetary policy tightening, which would be bearish for the yellow metal. Continue reading →

Gold climbs near two-month high as risk aversion grows along with concerns over tensions in Ukraine and investors await further direction from this week’s meeting of Federal Reserve policymakers. Continue reading →

Gold targets weekly gain, after a brief market correction drop in early trading. This would be the second consecutive weekly gain for the yellow metal that is lingering near a two-month high as U.S. Treasury yields slid from near two-year highs. Continue reading →

Gold steadies above $1,820 an ounce on inflation worries. The yellow metal had slipped at the start of the trading day as U.S. Treasury yields rose to their highest level in two years amid widespread expectations of a Federal Reserve rate increase. However, gold has regained altitude on global inflation news as the UK reported its highest inflation in three decades this morning. Continue reading →

Gold starts week hanging tough against pressure from stronger Treasury yields as investors anticipate a Federal Reserve rate increase. The yellow metal continues to be buoyed by inflation and uncertainty caused by the omicron variant of the coronavirus. Continue reading →

Gold edged up this morning, poised for its best week since November, as the dollar and Treasury yields eased and a higher-than-expected U.S. inflation number lured investors to the yellow metal as a hedge. Continue reading →

Gold tips up on this morning’s surprising inflation data, the highest rise in almost 40 years. The yellow metal has boosted $5 an ounce on the news. Continue reading →

Gold modestly up on jobs data and slightly weaker dollar though it failed to leap the $1,800 an ounce line. It seems headed for its biggest one-week drop since November as the yellow metal came under pressure from strong Treasury yields amid expectations of upcoming interest rate hikes. Continue reading →

Gold gaining strength on safe-haven demand spurred by rising cases of the omicron variant of the coronavirus. The yellow metal’s rise has braked at $15 an ounce as investors eye the prospect of a U.S. interest rate increase as early as March. Continue reading →

Gold slips off of the six-week high it hit earlier in today’s trading, but it’s sticking above $1,800. The yellow metal dropped when stronger bond yields and surging equities overcame lingering risk aversion due to the continued spread of the omicron variant of the coronavirus. Continue reading →

Gold retreats from one-month high, slipping just below $1,800 an ounce early Wednesday amid low liquidity during the shortened holiday week of trading. Continue reading →

Gold steady amid holiday liquidity, holding above $1,800 an ounce amid a tug-of-war between weaker U.S. Treasury yields and a stronger dollar. The yellow metal did slip a touch earlier in the trading day as the U.S. dollar rebounded, though bullion is sticking near a one-week high over Omicron concerns. Continue reading →