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 →

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 →