Gold Sticks Above $1900

Gold Sticks Above $1900

Gold sticks above $1900, firming its position beyond that psychological threshold as U.S. Treasury yields fell and Federal Reserve officials signaled that the central bank’s monetary policy would continue to be accommodative. Continue reading →

Gold Near Four-Month High

Gold Near Four-Month High

Gold returns near four-month high after briefly dipping this morning on a strengthening dollar. Meanwhile investors await the minutes of the Federal Reserve’s last policy meeting for insight into whether members of the Federal Open Market Committee are divided on their accommodative monetary stance and approach to inflation. Continue reading →

Gold Waffles on CPI Data

Gold Waffles on CPI Data

Gold waffles between positive and negative territory on CPI data. The yellow metal jumped over $10 an ounce to $1,844.70 on surprising inflation surge, but has since lost ground. It had dropped at the beginning of the trading day as the dollar strengthened and the treasury yields advanced. Continue reading →

Congrats, Terry Hanlon

Congrats, Terry!

Congratulations to Terry Hanlon, President of Dillon Gage Metals, on being named one of the most influential people in numismatics by Coin World. Continue reading →

Gold Takes A Dip

Gold Takes A Dip

Gold takes a dip in morning trading, but is still pretty steady after a report showed U.S. inflation rose more than expected last month. The news boosted equities while the dollar weakened, lending support to the yellow metal Continue reading →

Gold Off One-Month High

Gold Off One-Month High

Gold off one-month high, pushed earlier in the trading day by a rebounding dollar and Treasury yields, then suppressed further by this morning’s Producer Price Index (PPI) report that rose much higher than expected in March. The dollar came off a two-week low in early trading. Continue reading →

Gold Slipped from Two-Week High

Gold Slipped from Two-Week High

Gold slipped from its two-week high early Wednesday as global equities climbed and the dollar rebounded on strong U.S. economic data, as concern grows that central bank tapering might start sooner than expected. Now all eyes and ears turn to today’s 2 p.m. EDT release of the Fed minutes from their March 16th meeting. Continue reading →

Gold Still Pressured by Jobs

Gold Still Pressured by Jobs

Gold still pressured by Friday’s very positive US jobs numbers that have elevated hopes of an imminent economic recovery. Those hopes added support to global equities, further taking some shine off of gold, although the yellow metal is hanging tough above the $1,720 an ounce mark. Continue reading →

Easter Holiday Hours

Below are our Easter weekend holiday hours.

Trading room and refinery hours:
• Thursday, April 1st – Close at 4:00pm Central Time
• Friday, April 2nd – Closed
• Monday, April 5th – Resume normal hours Continue reading →

Gold Slips on Economic Recovery

Gold Slips on Economic Recovery

Gold slips on economic recovery early Monday as the U.S. dollar index strengthened to its highest in several months and global economic uncertainty decreased. Advances in U.S. Treasury yields also pressured gold, because strength in the other assets raises the opportunity cost of holding bullion. Continue reading →

Gold Holds Steady

Gold Holds Steady

Gold holds steady this morning but still looks to be heading for its first decline in three weeks against continued strength in the U.S. dollar and Treasury yields. Rising geopolitical risks and a third wave of the pandemic are lending gold support. Continue reading →

Gold Muted Ahead of FOMC

Gold Muted Ahead of FOMC

Gold muted ahead of FOMC, losing a little altitude as U.S. bond yields climb this morning. Inflation fears boosted both the precious metal and U.S. Treasury yields, which were near their highest levels in more than a year. Investors are primarily awaiting a policy statement from the U.S. Federal Reserve. Continue reading →

Gold Falls On Strong Dollar

Gold Falls On Strong Dollar

Gold falls this morning on strong dollar that hit a 3-month high. The yellow metal slumped $17 an ounce briefly, but spot gold is once again challenging $1,700.

Gold had risen in the early hours of the trading day as U.S. Treasury yields slipped and the passage of a U.S. stimulus measure made the yellow metal more attractive to investors anticipating inflation.

Treasury yields climbed to a one-year high Friday, and their advance has pressured gold, as the two assets are typically inversely correlated. Gains in yields are seen as bearish for gold because they increase the opportunity cost of holding bullion. But yields, gold and the dollar are all traditional hedges against inflation.

April gold futures dropped 1.8% last week to settle at $1,698.50 an ounce on Comex after decreasing 0.1% Friday. It was the metal’s third weekly decline and added to a drop in February, which was the worst month for gold since 2016. Gold climbed $372 — or 24% — in 2020 because of uncertainty about the economy and the pandemic. The April contract is currently off by $6 to $1,692.20 and the DG spot price is $1,695.10.

U.S. President Joe Biden’s $1.9 trillion pandemic relief package passed the U.S. Senate on Saturday after an earlier version cleared the House of Representatives the weekend before. But only Democrats supported the measure, meaning that any future legislation is likely to be contentious. The House is expected to pass the Senate version of the bill within the next few days and send it to Biden to sign into law.

The measure is designed as a shot in the arm to the U.S. economy and labor force, which are still reeling from the coronavirus pandemic, one year on.

The U.S. economy gained a better-than-expected 379,000 jobs in February, and the unemployment rate fell to 6.2% from 6.3%, according to data released Friday by the Labor Department. But around 4 million people have been out of work for 27 weeks or longer.

The COVID-19 virus has killed more than 2.59 million people worldwide and sickened more than 116.8 million. About 25% of the cases — and 20% of the deaths — are in the U.S. The country has almost 29 million cases, more than any other nation.

Investors will be watching for core U.S. inflation data on Wednesday and weekly initial jobless claims figures on Thursday for further economic indicators.

May silver futures decreased 4.4% last week to settle at $25.29 an ounce on Comex after losing 0.7% Friday. The metal decreased 1.8% in February, its first retreat in three months. Silver gained 1.9% in January and 47% in 2020. The May contract is currently up $0.048 an ounce to $25.335 and the DG spot price is $25.01.

Spot platinum retreated 4.9% last week to $1,136.90 an ounce after slipping 0.3% Friday. The metal rallied 11% in February amid forecasts for higher demand and tighter supplies. The autocatalyst metal advanced 0.5% in January and 11% in 2020. Currently, the DG spot price is up over $15 an ounce to $1,150.00

Spot palladium rose 0.7% last week $2,355.00 an ounce, though it slipped 0.4% Friday. It gained 4.9% in February after plummeting 9% in January and rallying 26% in 2020. The DG spot price is currently down $20 an ounce to $2,339.90.

 

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 Fighting Back Above $1,700

Gold Fighting Back Above $1,700

Gold fighting back above $1,700 after slipping on strong jobs data this morning. The yellow metal dropped under $1,700 an ounce on Thursday, pressured by increasing U.S. Treasury yields and a stronger dollar. The bond market boosted yesterday after the U.S. Federal Reserve Chairman Jerome Powell indicated that the central bank probably wouldn’t intervene to curb yields. Continue reading →

Shipping Delay Alert

Shipping Delay Alert

Federal Express has informed us that they continue to experience a ripple effect of delays from the storms a few weeks ago. We have been told that the hub in Memphis, which is their main sort facility, is overwhelmed. Sadly, they are not able to provide us with any insight as to when these packages will be processed. Continue reading →

Gold Rose on Dollar and Stimulus

Gold Rose on Dollar and Stimulus

Gold rose early Monday on dollar weakness and stimulus vote. The yellow metal had been near its lowest level in more than eight months, but climbed over $20 an ounce early today on the energy from Saturday’s vote by the U.S. House of Representatives that passed President Joe Biden’s $1.9 trillion stimulus measure. Gold has since lost a bit of altitude. Continue reading →

Operations Alert

Updated Tuesday, 2/16/21, at 9:30 am CDT

Shipping activities will resume today on a limited scale at our Distribution Center as power in the state of Texas continues to stabilize and extreme weather subsides.

We will begin packing orders, however these will not be picked up by the carriers until next week. If you see tracking numbers in FizTrade, but no movement of the shipment, this is the reason.

Thank you again for your patience and understanding.

Gold Up As Investors Buy Dip

Gold Up As Investors Buy Dip

Gold up as investors buy the dip, returning the bullion to near $1,800 an ounce after it fell to a seven-month low overnight. In addition to a bargain hunter bounce, the yellow metal is benefitting from a softened U.S. dollar. Continue reading →

Gold Rises As Dollar Slips

Gold Rises As Dollar Slips

Gold rises early Wednesday as dollar slips to a one-week low and expectations of a U.S. stimulus package — seen as bullish for the yellow metal — mounted. The bullion also took a strong bounce up on this morning’s inflation data. Continue reading →

Gold Up on Renewed Stimulus Hopes

Gold Up on Renewed Stimulus Hopes

Gold up Monday as investors focus on renewed stimulus hopes, boosting the yellow metal over $20 an ounce. The yellow metal’s attraction as an inflation hedge counterbalanced the equities rally and rising dollar that were also driven by the potential for a substantial U.S. relief package. Continue reading →