Gold clawing back as investors step in to buy the dip and markets react to stressed world stock markets. The yellow metal had fallen early Monday, extending last week’s losses, as the dollar held near a two-decade high following hawkish comments Friday from Federal Reserve Chairman Jerome Powell. Continue reading →

Gold dips a bit on stronger dollar, but still in tight range early Friday ahead of comments by Federal Reserve Chairman Jerome Powell in Jackson Hole, Wyoming. The bullion looks headed for a weekly gain, Continue reading →

Gold slips a bit early Wednesday ahead of Jackson Hole as investors awaited signals on future monetary policy from the annual meeting of central bankers at the end of the week in Wyoming. Continue reading →

Gold down, falling for a sixth session early Monday as the dollar strengthens, pressuring the precious metal amid expectations of a series of aggressive interest rates to rein in inflation.

The yellow metal touched its lowest level in more than three weeks Monday as the dollar rose to the highest level in more than a month, making gold more expensive for holders of other currencies. DG spot gold has clawed back to near $1,740, after hitting $1730, as traders buy the dip.

Investors are awaiting this week’s annual meeting of central bankers in Jackson Hole, Wyoming, for further indications on monetary policy. Fed Chairman Jerome Powell is set to speak Friday morning, while European Central Bank Executive Board member is set to speak Saturday. Bank of England Governor Andrew Bailey will also attend.

Front-month gold futures fell 2.9% last week to settle at $1,762.90 an ounce on Comex after the December contract decreased 0.5% Friday. Bullion dropped 1.4% in July after falling 2.2% in June and 3.3% in May, its worst month since September. The metal retreated 3.5% in 2021. Currently, the December contract is down $14.40 (-0.82%) an ounce to $1748.50 and the DG spot price is $1739.90.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.32% Friday to 989.01 metric tons, Reuters reported.

Investors are now betting there’s a 54.5% chance of a 50-basis-point rate hike in September, with just 45.5% projecting a 75-basis-point increase, according to the CME FedWatch Tool. A month ago, 59.6% of investors anticipated a hike of 75-basis points or more. The Fed raised rates by 75 basis points each in June and July, though a few positive economic reports since then had triggered some speculation that the Fed might impose a smaller increase in September.

Richmond Fed President Thomas Barkin said Friday that the central bank would go as far as risking an economic recession to curb inflation.

The Fed’s Neel Kashkari is scheduled to speak Tuesday. And economic reports on durable goods, MBA mortgage applications, and pending home sales are due Wednesday. U.S. GDP and weekly initial jobless claims come out Thursday.

Front-month silver futures fell 8% last week to settle at $19.18 an ounce on Comex after the December contract tumbled 2% Friday. Silver slipped 0.8% in July after declining 6.2% in June and falling 6.1% in May. It retreated 12% in 2021. Silver prices are tied to industrial demand. The September contract is currently down $0.254 an ounce to $18.815 and the DG spot price is $18.96.

Spot palladium retreated 4.5% last week to $2,148.50 an ounce after falling 1.5% Friday. Palladium rose 9.9% in July after losing 2.9% in June and 14% in May, the biggest monthly decline since September. It retreated 22% in 2021. The current DG spot price is down $127.90 an ounce to $2021.00.

Spot platinum declined 7% last week to $901.80 an ounce after slipping 1.8% Friday. Platinum retreated 0.3% in July after losing 7.2% in June. It dropped 9.4% last year. The DG spot price is currently down $25.60 an ounce to $880.80.

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 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 slips to a three-week low early Friday on strong dollar, headed for the first weekly decline in a month as the dollar hits a one-month peak. Continue reading →

Gold slips ahead of Fed minutes, dipping on a stronger dollar, while shrugging off flat U.S. retail sales as investors awaited signals on the Federal Reserve’s likely future moves to combat inflation for further direction. Continue reading →

Gold slips as dollar advances early Monday and investors sought profits after the yellow metal advanced for a fourth consecutive week last week. The bullion was further suppressed by a downbeat economic report out of China. Continue reading →

Gold aiming for its fourth weekly advance, as a weaker dollar lifts spot gold back near $1,800 an ounce. Continue reading →

Gold rises on cooler inflation, briefly jumping the $1,800 an ounce line as the Consumer Price Index stays under the forecast level. Continue reading →

Gold steady amid speculation on the economy, ticking up this morning on a weaker dollar as the precious metals market continued to digest Friday’s strong U.S. jobs report. Continue reading →

Gold ticks down this morning on surprisingly strong jobs data. The bullion slipped after hitting its highest level in almost a month early Friday. Continue reading →

Gold boosting on US-China tensions, but kept in check by U.S. Treasury yields. The yellow metal came off Wednesday’s one-month high after Treasury yields strengthened on a series of hawkish comments by Federal Reserve officials. Continue reading →

Gold hits three-week high early Monday as the dollar slipped and bond yields fell amid speculation that the Federal Reserve’s rate increases might be less aggressive because of recession fears. Continue reading →

Gold rises on recession fears, hitting a more than three-week high, after a report Thursday showed the U.S. economy unexpectedly contracted in the second quarter and Treasury yields touched a three-month low. The bullion had little reaction to this morning’s inflation data. Continue reading →

Gold little changed before this afternoon’s Fed meeting, but it briefly lifted this morning on a softer dollar, but settled back as investors awaited the Federal Reserve monetary policy decision. Continue reading →

Gold even ahead of this Wednesday’s Fed decision, tipping up briefly on a slight dip in the dollar and bond yields as investors awaited this week’s meeting of Federal Reserve policymakers and a much-anticipated report on inflation. Continue reading →

Gold steady heading for first weekly gain in six weeks boosting on the slump in U.S. Treasury yields, however the yellow metal is still pressured by the dollar that is trading near 20-year highs and an aggressive monetary policy expected to put a damper on inflation. Continue reading →

Gold slips as recession worries ease Wednesday upon hopes that Europe will soon start receiving Russian gas supplies once again. Continue reading →

Gold rises as the US dollar ebbs early Monday, with the yellow metal rebounding from its fifth weekly loss last week, as the dollar slides from 20-year highs and investors scaled back speculation that the Federal Reserve would boost interest rates by 1 percentage point at central bank policymakers’ meeting next week. Continue reading →

Gold holds the line above $1,700 as consumer spending data for June beats the street, even so the yellow metal looks headed for a fifth weekly loss Friday amid anticipation that the Federal Reserve will remain aggressive in tackling high inflation and the dollar hovered near 20-year highs. Continue reading →

Gold drops Wednesday morning on higher-than-expected inflation. The yellow metal had been steady overnight as investors awaited the release of the key U.S. inflation report but lost over $10 an ounce on the release of the data. Continue reading →

Gold under pressure by strong dollar as the currency hovered near 20-year highs after a positive U.S. jobs report Friday heightened speculation of aggressive interest rate hikes later this month and for the rest of the year.

Continue reading →

Gold ticks down on Friday morning’s U.S. jobs data, likely headed for fourth weekly drop. The yellow metal’s spot price slipped $7 an ounce on the news that U.S. jobs grew more than expected in June, but has rebounded from much of that loss.

Gold ticked up from a seven-month low amid bargain-hunting by investors early Wednesday after a selloff in the prior session. Continue reading →

Gold drops on strong dollar and the pressure from higher interest rates. The yellow metal is also under pressure from India’s new, much higher import duty on gold. The bullion looks headed for a third weekly decline. Continue reading →

Gold rises early Wednesday on increasing risk aversion, amid a tug-of-war between the bearishness of higher interest rates and the bullishness of economic uncertainty. Continue reading →

Gold clings to the Sunday’s boost resulting from the Group of Seven nations voting to ban new imports of bullion from Russia as a sanction of its invasion of Ukraine.

The U.S., U.K., Japan and Canada will pledge to halt new shipments of the yellow metal at a G-7 meeting this week, with the U.K. ban in particular set to largely shut Russian gold out of global markets because of London’s pivotal role in the international trade of the commodity. But uncertainty over whether the entire G-7 would act in concert as well as bearishness from last week due to pending interest rate hikes kept pressure on the precious metal.

August gold futures fell 0.6% last week to settle at $1,830.30 an ounce on Comex, though the front-month contract gained 50 cents Friday. Gold tumbled 3.3% in May, its worst month since September. It retreated 3.5% in 2021. The August contract is currently slightly down $0.70 (-0.04%) an ounce to $1,829.60 and the DG spot price is $1,830.10.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.2% Friday to 1,061.04 metric tons, Reuters reported.

Shipments of gold from Russia to London have already mostly dried up in the months since Russia’s invasion of Ukraine, particularly after the London Bullion Market Association removed Russian refiners from its accredited list in March.

A U.K. government statement foreshadowed the pending ban, while the U.S. Treasury Department was expected to issue one from Washington on Tuesday.

Separately, Russia defaulted on its foreign-currency sovereign debt for the first time since 1918, the year after the Communist revolution, amid crippling international sanctions.

Gold has also had some support from the ongoing pandemic and economic uncertainty. The International Monetary Fund slashed its U.S. growth forecast for 2022 on Friday, though said the country would “narrowly” avoid a recession.

Meanwhile, the prospect of escalating interest rates has kept a lid on precious metals prices, as have strength in the dollar and Treasury yields. The Federal Reserve announced a 75-basis-point rate increase, its biggest since 1994, earlier this month to combat the highest U.S. inflation in 40 years. Most economists and investors now expect Fed policymakers to announce a series of sizeable interest-rate increases through the end of the year, including another 75-basis-point increase in July, according to the CME’s FedWatch Tool.

Investors will be closely watching for the release Thursday of the May core personal consumption expenditures index, the Fed’s favorite inflation gauge. GDP data come out Wednesday, and key manufacturing results are scheduled for Friday.

September silver futures decreased 2.4% last week to settle at $21.16 an ounce on Comex, though the front-month contract advanced 0.3% Friday. Silver dropped 6.1% in May after losing 8.2% in April. It retreated 12% in 2021. Silver prices are tied to industrial demand. The September contract is currently up $0.161 (+0.76%) an ounce to $21.320 and the DG spot price is $21.34.

Spot palladium rose 3.1% last week to $1,907.50 an ounce after gaining 1.7% Friday. The metal lost 14% in May, the biggest monthly decline since September. It retreated 22% in 2021. Currently, the DG spot price is up $45.70 an ounce to $1,945.00.

Spot platinum tumbled 2.6% last week to $917.30 an ounce, though it increased 0.3% Friday. It gained 2.3% last month and lost 9.4% last year. The DG spot price is currently slightly down $2.50 an ounce to $915.20

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 briefly rose in early Friday trading but looks headed for second weekly drop as the prospect of large interest-rate cuts outweigh economic concerns with investors. Continue reading →

Gold regains ground on economic worries as recession fears outweigh a firmer dollar. The yellow metal briefly dipped as Fed Chair testified to Congress. Continue reading →

Gold was steady Monday after tumbling Friday on strength in the dollar after an interest-rate hike from the Federal Reserve. The yellow metal firming on the easing dollar and global economic worries. Continue reading →

Gold poised for weekly drop, slipping early Friday, coming under pressure as the dollar and Treasury yields strengthened on the back of the biggest Federal Reserve rate increase since 1994. Continue reading →

Gold steady steady overnight ahead of this afternoon’s Fed decision. The yellow metal did get a small boost this morning from a surprise drop in U.S. retail sales. Investors now look toward today’s monetary policy announcement from the U.S. Federal Reserve, amid speculation about how aggressive the central bank will be in efforts to combat 40-year highs in inflation and stave off a potential recession. Continue reading →

Gold yo-yos after hitting five-week high in overnight trading, falling 1% Monday morning on stronger dollar and bond yields. The yellow metal had been boosted by speculation over a potential blow to the U.S. economy from an aggressive Federal Reserve approach to combating inflation. Investors worry last week’s report on the highest U.S. inflation since 1981 will force the Fed to take an even more aggressive monetary-policy stance than previously anticipated. Continue reading →

Gold slips off brief. inflation-inspired boost, settling back down to the level it hit early Friday as U.S. Treasury yields advanced ahead of the release of a key U.S. inflation report. The yellow metal briefly rose over $10 an ounce on the news that inflation hit 8.6% in May from a year ago. Continue reading →

Gold tips up on opposing economic data as traders look towards key U.S. report on inflation due out at the end of the week. This morning, price of the yellow metal sees a tug-of-war, buoyed by a weaker stock market and stronger crude oil, but weighed down by a firming dollar. Continue reading →

Gold rises on weak dollar and treasuries as strong crude oil prices lead the way. The yellow metal rebounded from last week’s decline, the first in three weeks. Continue reading →

Gold aims for third weekly gain, even after slipping 0.1% to $1,866.27 per ounce from a near one-month high of $1,873.79 early in the trading day.This morning’s positive payroll data has had little effect on the bullion. Continue reading →

Gold climbs back from near two-week low as investors buy the dip. The yellow metal had fallen earlier in the trading day as the dollar and U.S. Treasury yields strengthened, making the bullion a less attractive investment, particularly for holders of other currencies. Continue reading →

Gold heads for second weekly gain as the dollar weakens. The yellow metal solidified its position above $1,850 despite this morning’s inflation report that indicates prices may have peaked. Continue reading →

Gold slips from a two-week high early Wednesday as the dollar strengthens from its lowest level in a month. Continue reading →

Gold rises as dollar weakens, with the yellow metal climbing over 1% to a one-week high early Monday as the dollar dropped, increasing the attraction of gold to holders of other currencies. Continue reading →

Gold touches one-week high early Friday, aiming for its first weekly gain in five weeks, after the dollar came off two-decade highs, reigniting haven demand for the yellow metal. Continue reading →

Gold traded near three-and-a-half-month lows early Wednesday on a strong dollar and expectations of a continued aggressive monetary policy stance from the Federal Reserve. Continue reading →

Gold clinging above the $1800-an-ounce threshold after dipping briefly below that psychological barrier in early trading, under pressure from dominant dollar. The yellow metal is little changed near three-month lows. Continue reading →

Gold slips early Friday, headed for its fourth consecutive weekly decline on muscular dollar. The currency flexing its strongest power in two decades pressured the yellow metal which briefly dropped below $1,800 this morning as bearish traders took the lead. Continue reading →

Gold reclaims some turf on Wednesday morning’s inflation data from the CPI, one of the economic indicators the Fed uses to pace future interest-rate hikes. Earlier Wednesday the yellow metal traded near three-month lows, but began its recovery when the dollar and treasury yields dipped ahead of the CPI report. Continue reading →

Gold slips on stronger dollar but sticks above $1860 an ounce. The yellow metal fell early Monday as the dollar strengthened toward a 20-year high on high inflation and the prospect of an economic slowdown. Continue reading →

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 →