On Friday, interestingly enough, the Gold 100-day moving average settled exactly on the Dillon Gage asking price of $1,226.20. As we indicated in our last report, Wall Street traders were looking for a breakout in the price of Gold if it settled above that level. Continue reading →
The price of Gold getting a little boost from a slightly weaker U.S. Dollar and concerns over Italy’s budget crisis. Continue reading →
The price of Gold rallies and Equities decline after U.S. Treasury Secretary tweets he’s not going to the Saudi Arabia business conference. Continue reading →
The most recent rally in the price of Gold has stalled, after reaching its highest level since July, a day or two ago. Continue reading →
We have come to the fork in the road in the Gold market. Helping bring us to this point overnight was the continued sell off of Equities in the Far East and a weaker Dollar Index. Continue reading →
A play-by-play analysis.
It took a while for the yields on the 10-Year Treasuries to go over 3 percent. Matter of fact, we got as high as 3.25 percent. That eventually took a toll on Equities. Continue reading →
This morning the price of Gold is trading either side of unchanged, which is not surprising, as we see the U.S. Dollar Index also not moving. Continue reading →
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We start the week in negative territory as selling emerges overnight in the Far East. Bond markets are closed here for the holiday, but action in the Dollar Index has put pressure on the price of Gold and Silver. Continue reading →
Despite a strong rally in U.S. Treasury yields the last couple of days, the price of Gold still locked in trading range ($1,180 to $1,210). Continue reading →
Dealers reporting strong redemptions in the physical market yesterday as the price of gold rallied to the upside of its most recent trading range. Continue reading →
All four metals dipped overnight as the U.S. Dollar index continues its move higher, reacting favorably to the continued U.S. rate hikes. Continue reading →
Yesterday, a much stronger than expected US Durable Goods number (4.5 percent vs. expectations of a 2 percent number) rallied the dollar and put pressure on the price of Gold. Continue reading →
As expected, the Fed announces rate increase. The Federal Reserve announced a quarter-percentage-point increase in interest rate increase at 2 pm today, citing a strong labor market and economy.
The Fed raised the benchmark borrowing rate to a range of 2 percent to 2.25 percent, the third hike this year.
Immediately after the announcement, Gold dropped 5 dollars but has recovered somewhat since then.
Also announced was that another rate hike in December is expected, and at least 3 more next year.
The question now is, at what point will the consumer start to feel the pain of higher interest rates?
The real story is, and was, that everyone got real comfortable over a number of years enjoying cheap money.
Now that wages are increasing, the stock market is making new highs and, according to the Atlanta Fed, we are growing at a rate of 4.2 percent, the Fed has no choice but to stay the course and be aggressive.
Some economists I speak with believe they are not being aggressive enough. True they had a low starting point, but when the equity markets continue to shrug off higher interest rates, some claim things are not just matching up.
Tariffs and higher interest rates should put the brakes on the equity markets, but investors seem not to care.
I don’t know what it will take to get the price of Gold in rally mode, but with a stock market seemingly making new highs every day and more rate hikes to come something has to give. Will it be the fallout from the midterm elections or just someone in Washington waking up and realizing that government spending is out of control? And let’s not forget our debt issue, that needs to be addressed immediately.
Believe it or not, someday this party will end and many traders and economists I speak to, say it will be sooner rather than later.
I’m all ears if someone can tell me when.
Enjoy the rest of your day.
Disclaimer: This editorial has been prepared by Walter Pehowich of 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.
The U.S. dollar on the rise once again keeping the price of Gold under the $1,200 dollar level. Continue reading →
Once again, gold getting a bit of a boost this morning from U.S-China trade relation tensions, plus a dipping dollar is giving precious metals a bump. Continue reading →
To say that the price of Gold is spinning its wheels in the mud would be an understatement. Continue reading →
Gold still dancing around $1,200. The price of Gold is down more than 8 per cent this year to $1,205 a troy ounce, and down from a peak of $1,366 in January. Continue reading →
The U.S. Dollar gave up early gains overnight and now seems to be in retreat mode, as investors wait to see if the President announces new tariffs on about $200 billion of Chinese imports. Continue reading →
The Dollar Index has fallen below the 95 figure, giving the price of gold some support above the $1,200 dollar level. Continue reading →
China continues driving global silver market and will for years to come, fueled by continued industrial demand and silver mining activity. That’s according to a new report by Metals Focus that was commissioned by The Silver Institute, “Prospects for the Chinese Silver Market.” Continue reading →
Walter Pehowich is off today. The insights were prepared by a senior analyst.
It appears, Gold feels comfy just under $1,200. The overhanging concerns over tariffs combined with the strong U.S. Dollar are keeping the yellow metal in the just-under-$1,200 neighborhood. Continue reading →
It’s all over the news, the President wants to add more tariffs. If he follows through, the real losers will be the American consumer. Continue reading →
Gold hit by jobs growth numbers this morning. When the report came out that the U.S. economy added 201k in August, the yellow metal immediately sank back below the $1,200 level. Continue reading →
The buoyant U.S. dollar has finally taken a dip, boosting the price of both gold and silver this morning. The “Dollar Down, Gold Up” headline is giving gold bulls a smile, if only for a moment, as gold once again bumps up against $1,200 an ounce. Continue reading →
UPDATED AT 8:01 am CDT Sept 5, 2018
After pushing and working with Microsoft throughout the day yesterday, the Dillon Gage IT team reports that at this time all systems appear to be online and operational (and tested as such). We are cautiously giving the green light to resume normal operations.
If you should encounter any further issues with FizTrade, please refresh the browser. If that doesn’t work, please send an email to thewitt@dillongage.com.
(Yesterday morning, everything in Microsoft’s South Central U.S. region went offline thanks to a temperature spike that caused their Azure servers to automatically shut down to avoid damage.)
Thank you for your understanding and patience.
The Dillon Gage Team
Here are Dillon Gage’s Labor Day Weekend hours. We will be available for trading and refining during the following times.
Electronic trading available on FizTrade.com:
Dillon Gage trading desk and refinery:
Have a safe and happy Labor Day!
After pogoing back and forth above and below $1,200 this week, it appears Gold hangs tough pre-Labor Day. Continue reading →
The price of Gold is in negative territory this morning, as it feels the pressure of a stronger Dollar Index. Continue reading →
If you have been listening to the Cable Financial News Networks of late, you have likely heard them talking a lot about the flattening yield curve.
So what are they referring to? Continue reading →
Equity prices are on the rise and so is the price of Gold after Fed chairman Jerome Powell said the Central Bank has no intention of accelerating the pace of rate hikes. Continue reading →
This morning, a weaker Dollar Index is keeping the price of Gold in positive territory. Continue reading →
The price of Gold marches higher as the value of the U.S. Dollar continues to soften. As Gold approaches the $1,200 dollar level, traders still holding short positions (and there are many) must be thinking twice about holding on to a possible losing trade. Continue reading →
Gold prices moved higher overnight in the Far East despite a stronger dollar and higher equity prices. Continue reading →
The price of Gold takes a pause today after dropping almost 3 percent this week. The price of Silver experienced a 5 percent decline and PGMs also took it on the chin as Platinum declined 6 percent and Palladium fell over 5 percent. Continue reading →
This is very difficult to confirm, but the talk on Wall Street by some Gold traders is that this sell off in the price of Gold is rumored to be emerging-market central bank selling. Continue reading →
The price of Gold continues to slip in a downward spiral overnight in Asia weakening to its lowest level since January, 2017. Continue reading →
ADDISON, Texas (Aug. 14, 2018) – Dillon Gage Metals, one of the world’s largest precious metals wholesale firms and leading technology innovator in the industry, recently launched its first Digital Metals product, DGGold. Continue reading →
Early this morning, selling emerged out of Europe bringing the price of Gold below the all-awaited $1,200 dollar level. Continue reading →
This morning we find price of Gold under Dollar’s pressure. The U.S. Dollar continues to rise against most major currencies today hitting a fresh 52 week high of 96.18 in light trading activity, as investors focus on global trade tensions and a strong U.S. economy. Continue reading →
It’s becoming even more difficult these days to try to analyze a market that, for the most part, is standing still. Continue reading →
The U.S. dollar regained its oomph over the weekend, after losing a bit of steam on Friday. In turn, the selling pressure on gold and silver is on the rise. In fact, gold is trading close to last week’s 12-month low, while the dollar index is very close to the 12-month high it hit a few weeks ago. In short, the dollar’s back up – gold soft. Continue reading →
Surprise – gold ticks up on jobs report. After a lackluster week, the yellow metal regained a little shine this morning after weaker-than-expected growth numbers in the U.S. labor market were released for July. Continue reading →
All eyes will be on the Federal Open Market Committee as it finishes its two-day meeting today. No rate is expected at 2 pm when their statement is to be released. Continue reading →
We start the week with little, if any, news to report that will affect the price of Gold. Continue reading →
When I talk with financial advisors, most indicate that for the most part their clients are happy with their current equity holdings. Continue reading →
All four precious metals in positive territory today as continued weakness in the dollar is the major contributor. Softer Bond yields across the globe also playing a part. Continue reading →
We start Monday looking forward to the release corporate earnings and the all-awaited second quarter GDP figures. Making this a busy week for financial news, indeed. Continue reading →
After the dollar index reached 95.66 yesterday, surpassing the June high of 95.54 (but failing to hold above that level), a short covering Gold rally ensued. Continue reading →
Yesterday, two levels in the price of Gold were violated giving the shorts confidence there is more selling to come. So, let’s do a gold technical overview. Continue reading →
Economic data released Friday from China revealed that both exports and imports came in less than expected, indicating that the trade war impact has begun. Going forward, these figures now suggest that we can expect slower global economic activity. Continue reading →
Brexit aside…there appears to be little risk aversion in the markets, leading to gold and silver drifting lower this morning, after firming up a bit yesterday afternoon. Continue reading →
The stubborn success of the U.S. dollar as of late continues to be a yoke around the neck of precious metals, keeping gold & silver stuck in neutral. Continue reading →
Walter Pehowich is on vacation this week. The insights are from a senior Dillon Gage analyst.
Hold on…as instabilities rock the market landscape.
July 4th may be in the rearview mirror, but the fireworks appear to just be getting started—all in the name of a looming U.S. China trade war between the economic giants. Continue reading →
It’s official, a trade war has begun between the U.S. and China as the Trump administration has imposed tariffs on approximately $34 billion worth of Chinese products. Continue reading →
Have a happy and safe Fourth of July!
*Subject to change without notice. Hours are dependent upon Globex Market hours.
The Dollar Index is trading higher this morning putting pressure on all four metals. Continue reading →
A recent report released by the World Gold Council revealed that first-quarter identifiable Gold demand slowed to a 10-year low of 973.5 tons. Continue reading →
The Trump administration is pulling back on its harshest measures on Chinese investments in U.S. technologies. Continue reading →
Gold continues its sell off stance as short sellers continue to add on their positions, as seen in last Friday’s commitment of traders report. Continue reading →
