Market Gage Gold Market Insights

Gold Hovering at $1,300

This morning we see the price of spot Gold trading either side of $1,300 dollars. Yesterday we witnessed the price of Gold making a new one month high during Asian trading hours. Continue reading →

Gold Reacts To Tariffs

Today the President imposes increased tariffs on China’s imports to the tune of 25 percent. The President said, it’s all ok, because with the increased tariffs, we are making more money than the best agreement can get us. Some seem to disagree. Most investors expect these costs, one way or the other, to be passed on to the American consumer. Continue reading →

Gold's Safe Haven Rally

Gold’s Safe Haven Rally

It’s about time the price of Gold is rallying. Gold has rebounded nicely, up 1% since the start of the week, driven by a pick-up in safe haven demand and seeing a decline in Equities prices caused by rising trade tensions between the United States and China. Continue reading →

Gold Trading Steady

Gold Trading Steady

Gold trading steady overnight, despite the President’s threat of raising tariffs on China. After reading the President’s tweet, equity investors started selling immediately off the headline, not waiting for the details. Continue reading →

Gold Takes A Little Dip

Gold Takes A Little Dip

ADP April job numbers came in better than expected this morning with 275,000 new jobs created in April, well over 180,000 level the street was expecting. In turn, this report boosted the Equity market and strengthened the U.S. Dollar. Continue reading →

Gold Still Recovering

Gold Still Recovering

The price of Gold continues to recover off the most recent lows, and that’s the good news. Affecting the price of Gold, is the Dollar Index which has appreciated by 1.5% over the past three months. Over the same period, the price of spot Gold has declined over 3 percent. Continue reading →

Gold Firms Recovery

Gold Firms Recovery

At the time of this report early Friday morning, the spot price of Gold has rebounded nicely to the $1,280 area after testing the mid $1,260 area just a couple of days ago. Continue reading →

Gold Rebounds

Gold Rebounds

Gold and Silver rebounded today after a harsh Tuesday with gold inching toward $1,280. That bounce back occurred despite the pressure from a strengthening U.S. Dollar and yesterday’s all-time highs in the S&P and Nasdaq, due to strong reported corporate earnings. Continue reading →

Gold Treading Water

Gold Treading Water

This morning, the price of Gold is seen treading water at $1,276 right in the middle of two levels. Support at $1,260 and the new resistance level
of $1,282. Continue reading →

Easter Holiday Hours

Easter Holiday Hours

Here are the Dillon Gage hours for Easter weekend.

Trading room and refinery hours:

  • Thursday, April 18th – Close at 4:00pm Central Time
  • Friday, April 19th – Closed
  • Saturday, April 20th – Closed
  • Sunday, April 21st – Closed
  • Monday, April 22nd – Open 7:30am Central Time

FizTrade™ electronic trading hours:

  • Thursday, April 18th – Close at 4:00pm Central Time
  • Friday, April 19th – Closed
  • Saturday, April 20th – Closed
  • Sunday, April 21st – Open at 5:00pm Central
  • Monday, April 22nd – Resume normal hours

A happy and safe holiday from the Dillon Gage family to yours!
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Gold Feeling Pressure

Gold Feeling Pressure

As we start this short week, investors seemed to be focused on other things like the religious holidays and spring break which are right at our doorstep. Surprisingly, we find the spot price of Gold under pressure, even with a softening dollar index. Continue reading →

Gold Shows Resilience

Gold Shows Resilience

As we reported in our last Market Gage, a significant short position in Gold still exists, but the price of Gold still shows resiliency as it seems the shorts do not have enough support to pull the rug out from the price. In other words, buying continues to emerge as soon a we come close to support levels. Continue reading →

Silver Demand Up 4% in 2018

Silver Demand Up 4% in 2018

Although several silver asset classes had their struggles last year, including commodities, there were three very positive developments in the 2018 silver market that helped raise silver demand up 4% in 2018, according to the Silver Institute’s new World Silver Survey 2019. Here are three of their significant findings:

“First, total silver demand increased for the first time since 2015, rising 4 percent to 1.03 billion ounces. Second, there was a robust recovery in retail investment, led principally by silver bar demand, which climbed sharply last year. Third, on the supply side, global mine supply fell for the third consecutive year, following a continuous streak of 13 annual increases before 2016. Silver scrap supply has been in retreat since 2012 and fell by nearly 2 percent last year. These factors led to another tightening of the supply/demand balance, contributing to a physical deficit of 29.2 million ounces (Moz) in 2018.”

The World Silver Survey 2019 is available as a downloadable PDF from the Institute’s website at silverinstitute.org

Trade Tensions Boost Gold

Trade Tensions Boost Gold

Gold investors are hoping to see the $1,300 price in the rear-view mirror as trade tensions increase between the U.S. and EU and as markets await clarity on the Brexit calamity.  Continue reading →

Gold Softens A Bit

Gold Softens A Bit

The price of Gold softened moderately overnight in the Far East and Europe, trading in just a $6 range. The good news is that the price is relatively steady. The bad news is at this moment is there doesn’t seem to be a catalyst to get the price of Gold back over the $1,300 level once again. Continue reading →

Gold Stationary

Gold Stationary

For the time being, the report of a trade deal with China is keeping the price of Gold stationary. The price of Gold is in a need of recharge, and that doesn’t seem likely, for the moment. Continue reading →

Gold’s Recovery Mode

At the time of this report early Friday morning, all four metals are found in recovery mode. Let’s take a deeper look at the two metals that have had a lot of action this week, particularly, this first one. Continue reading →

Palladium Broke Thru $1,300

Palladium’s Wild Day

Palladium is having wild day, just how wild depends how you look at it.

At the time of this report, Palladium hit an intraday spot low of $1,441, down at one point over $100 dollars. Continue reading →

Fed says No rate hike this year

FLASH – No 2019 Rate Hike

The Fed signals no rate hike this year with one increase in 2020, saying it will leave rates unchanged, because economic growth has slowed.

Additional notes from today’s minutes, the Fed says:

  • It will taper balance-sheet roll off, sees it halting end-sept. Fed sees slower household spending, business investment.
  • Economic growth has slowed from solid 4q.
  • Core inflation remains near 2%

Markets seemed to be caught be surprise by the Feds long-term outlook…The price of Gold rallied from $1,302 to $1,318 on the news.
The Dow Industrial average reverses on the news and rallies almost 200 point to the up side. Ten-year Treasuries trading earlier this morning at 2.6 percent now after the news trading at 2.53 percent.

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.

All Eyes on Fed

All Eyes on Fed

All eyes on the Fed today. Their two-day meeting ends at 2pm EST time with a decision on rate hikes. This will be followed by the Fed Chairman’s news conference at 2:30 pm. Continue reading →

Gold Teetering at $1,304

Gold Teetering at $1,304

At the time of this report, we see the price of Gold back above $1,300, sparked by a weaker than expected Empire State manufacturing survey. The yellow metal is teetering at the previous resistance level of $1304. This seems to be an important level as the market either accelerates or declines depending on if the trend is up or down from this level. The price of Gold had fallen just below $1,300 yesterday largely on the fading strength in the U.S. dollar.
Continue reading →

Gold Breaks Above $1,300

Gold Breaks Above $1,300

Overnight, higher bond prices and a weaker Dollar Index have caused holders of short positions to head for the exits. If you look at the time and sales volumes during the gold rally today, as soon as we broke thru the $1,304 level of resistance volumes picked up and the short covering rally accelerated. Continue reading →

Watching EU Equities

Watching EU Equities

Just this past Monday, we reported that a number of countries in the EU were enjoying double digit gains in their Equity Markets since the start of the year. Continue reading →

Global Econ. Improves - Gold Drops

Global Econ. Improves – Gold Drops

The recent rallies in the Gold and Silver markets are over because of the improving outlook for the global economy. The anticipated trade deal with China and a favorable Brexit outcome are now strong possibilities, so investors are giving up their Gold and Silver holdings for an investment back into the Global Equity Markets. Continue reading →

Gold Under Pressure

Gold Under Pressure

Surprisingly, we start the day seeing the price of Gold under continued pressure. As the price of Gold declined and penetrated the significant spot level of support at $1,318, selling emerged and the selloff accelerated as many Wall Street Gold traders saw this as an opportunity to put on short positions. Continue reading →

Dollar Hits 3-Week Low

Dollar Hits 3-Week Low

This morning, we see the U.S. Dollar at a three-week low after the Fed Chairman’s comments yesterday. Jerome Powell said that the U.S. economy should keep growing at a solid, though somewhat slower pace this year, but he indicated that there are global economic risks to contend with, continued volatile financial markets and uncertainty about U.S. trade policy. Continue reading →

Gold Range Bound

Gold Primarily Range Bound

The President said today that significant progress has been made over the weekend in the China trade negotiations, and with that, he has decided to cancel the March first deadline. Off that headline, we see stock futures up triple digits as investors seemingly applaud the news.
Continue reading →

Gold Reactions Baffling

Gold Reactions Baffling

Wednesday’s minutes from the January Fed meeting revealed that the group was not sure whether they would raise interest rates again, this year.

Regarding the balance sheet, almost every Fed participant said it would be desirable to announce sooner rather than later a plan to stop reducing the Federal Reserve’s asset holdings before the end of the year. Continue reading →

Palladium In Uncharted Waters

Palladium In Uncharted Waters

The U.S. Dollar is virtually unchanged this morning awaiting the release of the Federal Reserve’s January meeting minutes at 2 pm Eastern, which could bring more clarity to the future of rate hikes. Continue reading →

Palladium Hits Another High

Palladium Hits New High

As key emblems of our nation’s coinage, the honorees of President’s Day hold a special place in our hearts. It’s also a bit quieter place as U.S. financial markets are on holiday. Continue reading →

Gold Hits Weekly High

Gold Hits Weekly High

Good news is often found on a Friday and this week is no different, as we see gold reaching a weekly high, despite the factor of a stronger U.S. dollar in the mix. The yellow metal is shining today, with spot prices up over $7 an ounce at $1,321.40. Continue reading →

Dollar Unable to Maintain Rally

Dollar Unable to Maintain Rally

Today, let’s take a look at technical data analysis, starting with gold. The price of gold rebounded yesterday after testing the spot level of support at the $1,303 – $1,304 area. Time and sale figures revealed that there were significant bids at those levels keeping the price of gold from falling any further. Continue reading →

Gold Slowly Slides

Gold Slowly Slides

The price of Gold continues it slow move to the downside. This price action coincides with the slow movement to the upside in the Dollar Index. Currently over the 96 handle, the US Dollar Index has experienced virtually no volatility in recent days due to the lack of any significant news stories. Continue reading →