Gold rebounds in holiday trading 

Gold rebounds in holiday trading 

Gold rebounds near one-week high in holiday trading after posting two consecutive weekly losses on signs that the Federal Reserve will hold interest rates elevated for a few more months. The yellw metal getting support from a weakened dollar and Middle East tensions. Continue reading →

Gold rises on haven demand

Gold rises on haven demand

Gold rises steadily overnight on haven demand after the attack on U.S. troops in Jordan. The yellow metal’s rebound sparked by the spread of Middle East strive follows a second consecutive weekly drop. Continue reading →

Gold entrenched in tight range

Gold entrenched in tight range

Gold entrenched in a tight range early Friday, up-ticking on this morning’s inflation data, but headed for a second weekly drop. An important inflation gauge released Friday showed that the rate of price increases cooled as 2023 came to a close, bolstering hopes for Federal Reserve Interest rate cuts. Continue reading →

Gold heads for first weekly drop in four

Gold heads for first weekly drop in four

Gold heads for first weekly drop in four after the minutes of the Federal Reserve’s December meeting were released on Wednesday, reducing expectations that interest rate cuts were imminent and strengthening the dollar and Treasury yields. The yellow metal dropped briefly on this morning’s positive jobs numbers, but rebounded quickly. Continue reading →

Gold loses ground on jobs data

Gold loses ground on jobs data

Gold loses ground on jobs data, heading for its first weekly drop in four weeks. The spot price of the yellow metal lost a tad over $10 an ounce in response to the surprisingly positive employment numbers. Gold also came under pressure as the dollar strengthened. Continue reading →

Gold Powers To New Record

Gold Powers To New Record

Gold powers to a new record with spot prices hitting $2,110.80 an ounce early Monday amid haven demand linked to the war between Israel and Hamas and speculation that the Federal Reserve will begin cutting interest rates next year. The yellow metal then receded below the $2,100 on profit taking. Continue reading →

Gold steady near $2,000

Gold steady near $2,000

Gold steady near the $2,000-an-ounce threshold early Wednesday on a weaker dollar and reduction in U.S. bond yields amid renewed hopes that the Federal Reserve will pause its series of interest rate hikes. Continue reading →

Gold fell as bullish bets fizzled

Gold fell as bullish bets fizzled

Gold fell early Monday as last week’s bullish bets that the Federal Reserve may be about to end its cycle of interest rate hikes fizzled out. 

Trading was also expected to be light this week going into the U.S. Thanksgiving holiday on Thursday. Last week, gold posted its first weekly gain in three on interest rate speculation and, subsequently, a weaker dollar and Treasury yields. Gold comes under pressure when interest rates, the dollar and Treasury yields are strong, and last week was the dollar’s worst in four months. 

Front-month gold futures rose 2.4% last week to settle at $1,984.70 an ounce on Comex, though the December contract slipped 0.1% Friday. Bullion gained 6.9% in October after falling 5.1% in September and dropping 2.2% in August. The metal is up 8.7% in 2023. The December contract is currently down $12.00 (-0.60%) an ounce to $1972.70 and the DG spot price is $1972.20.

CME FedWatch Tool shows that 99.8% of the investors it tracks are betting that the Fed will keep its federal funds rate unchanged in December, a shift from 90.9% a week ago, and .2% of the investors think the Fed will lower the rates by 25 basis points. The Fed has boosted interest rates by 5.25 percentage points since March 2022 to curb inflation to the 2% level. The Fed kept interest rates unchanged at 5.25% to 5.50% earlier this month. The central bank has raised interest rates only once since May. 

Minutes of the last Fed policy meeting in November are due out Tuesday and will be closely watched by investors for further signals on monetary policy. 

In other economic news, U.S. weekly initial jobless claims come out Wednesday, early because of the Thanksgiving holiday. Final consumer sentiment data for November are also due out Wednesday. U.S. manufacturing PMI comes out Friday. The U.S. retail holiday sales season, which is often used as an economic indicator, begins at the end of this week with Black Friday. 

Separately, gold came under some pressure following a deal between Israel and Hamas for the group to release hostages taken during the Oct. 7 attack on Israel. This is likely to trigger a multiday pause in the conflict. That’s bearish for gold, a haven asset in times of geopolitical uncertainty. 

December silver futures increased 7.1% last week to settle at $23.85 an ounce on Comex. March is now the most-active contract, and it fell 0.3% Friday to $24.20 Friday. Silver increased 2.2% last month after decreasing 9.5% in September and slipping 0.6% in August. It’s down 0.7% in 2023. The December contract is currently down $0.257 (-1.08%) an ounce to $23.595 and the DG spot price is $23.48.

Spot palladium surged 9.2% last week to $1,071.00 an ounce, and it advanced 1.6% Friday. Palladium dropped 10% in October after rising 3% in September and sliding 5.3% in August. Palladium has plummeted 41% so far this year. Currently, the DG spot price is up $27.10 an ounce to $1096.00.

Spot platinum rose 6.4% last week to $905.10 an ounce and edged up 70 cents Friday. Platinum gained 3.5% in October after declining 6.6% last month and advancing 1.7% in August. Platinum is down 15% in 2023. The DG spot price is currently up $10.10 an ounce to $913.80.

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 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 yo-yos on inflation data

Gold Yo-yos on inflation data

Gold yo-yos on inflation data, hitting a one-week high early Wednesday after the dollar and Treasury yields weakened following yesterday’s inflation report. The yellow metal started to waffle, dipping on profit-taking, then regaining some ground on this morning’s inflation report. The small boost was followed by a shallow dip caused by further profit-taking. Continue reading →

Gold falls on Powell's hawkish comments

Gold falls on Powell’s hawkish comments

Gold falls early Friday on Federal Reserve Chairman Jerome Powell’s hawkish comments. The yellow metal is heading for a second consecutive weekly decline, after the Fed chair increased speculation that the central bank may not be done yet with its series of interest rate hikes. Palladium tumbled to its lowest level since 2018. Continue reading →

Dillon Gage Attains RJC Certification

Dillon Gage Attains RJC Certification

Dallas (October 31, 2023) Dillon Gage, the global leader in physical precious metals trading and technology attains its latest milestone, The Responsible Jewellery Council (RJC) certification against RJC’s 2019 Code of Practices (COP). This certification, issued for three years, underscores Dillon Gage’s unwavering dedication to responsible jewelry practices and its commitment to promoting ethical, social and environmental responsibility across its operations. Download press release Continue reading →