Gold Slipped Early Monday September 30, 2019 Gold slipped early Monday as the U.S. dollar traded near a three-week high, making the yellow metal less attractive as investor risk appetite grows. Gold’s direction today is likely to be determined by the latest twists in the trade standoff between the U.S. and China. Bloomberg reported that the Trump administration is considering ways to limit U.S. money going into Chinese, but the U.S. Treasury said it has no plans to stop Chinese companies from listing on U.S. exchanges. The December gold contract slid 0.6% last week to settle at $1,506.40 an ounce on Comex. SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.22% to 922.88 metric tons on Friday from Thursday, Reuters said. Hedge funds and money managers raised their bullish positions in Comex gold and reduced bullish bets on silver contracts in the week ended Sept. 24, the U.S. Commodity Futures Trading Commission data showed Friday. Silver slipped 1.1% last week, with the December contract settling at $17.65 an ounce on Comex. The metal is down 3.8% this month through Friday. Spot palladium hit a new record Friday and climbed 2.6% last week to $1,684.40 an ounce amid continued worries about supplies from South Africa and increased demand from China. It was set to cap a monthly rally of almost 10%. Spot platinum decreased 1.6% last week and is heading for a monthly decline. Investors continue to closely watch the state of the global economy and the possibility of further monetary easing as well as tensions in the Middle East. Key monthly manufacturing data from around the world is set for release at the beginning of the month. Two indicators of China’s manufacturing activity beat expectations on Monday, CNBC reported. The U.S. ISM Manufacturing Index is due out on Tuesday. Together, the data from the U.S. and China will provide the latest measure of how the trade war between the two countries is affecting their economies. The closely watched monthly U.S. jobs report also comes out Friday. The CME FedWatch Tool shows that 59.9% of investors think the Fed won’t cut interest rates when policy makers next meet Oct. 30. The probability of a third consecutive 25-basis-point reduction was 40.1% early Monday. And, in an interview broadcast Sunday on “60 Minutes,” Saudi Arabia’s crown prince warned of an oil-price spike to “unimaginably high numbers” if the world doesn’t come together to deter Iran. Saudi Arabia and the U.S. have blamed Iran for a drone strike on Saudi oil facilities earlier this month. 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.