Gold stays near the new record high — above $2,050 an ounce — on a weaker dollar and speculation of new stimulus measures to combat the worsening pandemic and economic crisis. The yellow metal slipped a tad after this morning’s report from private-payrolls processor ADP showed July had lower-than-expected job numbers for July. Continue reading →
Gold near new record this morning as the PCE price index show an muted, and expected increase this morning, while gold futures headed for the best month in more than four years amid a flight to quality as investors used the yellow metal as a haven following dismal U.S. economic numbers. Continue reading →
Gold surged on Iran tensions, heading above $1,600 an ounce for the first time in almost seven years after two bases housing U.S. troops in Iraq were attacked by Iran, worsening geopolitical tensions. Palladium reacted by hitting a new record high.This morning’s positive U.S. employment numbers have slightly impacted the yellow metal. Continue reading →
Gold trades above $1,500 at seven-week high on Comex early Friday, heading for its best year since 2010.
The yellow metal has advanced for the past four sessions, even amid an equities rally and optimism over a phase-one U.S.-China trade accord, which would typically be bearish factors. Gold climbed throughout the year as a hedge against uncertainty when it appeared that the negotiations had stalled. Continue reading →
Dillon Gage wishes you and your family the happiest of holiday seasons. The following is our schedule for the 2019 holiday season:
- Dec. 24th: Trading, Refinery & FizTrade close at Noon Central (CT).
- Dec. 25th: Dillon Gage Trading & Refinery closed. FizTrade opens at 5pm CT
- Dec. 26th: Normal trading and refinery hours resume
- Dec. 31st: Trading, Refinery and FizTrade close at Noon CT.
- Jan 1st: Dillon Gage Trading & Refinery closed. FizTrade opens at 5pm CT
- Jan 2nd: Normal trading and refinery hours resume
Gold rises in light trading ahead of the Christmas holiday as investors await more information on a U.S.-China trade accord.
The two sides announced that an agreement had been reached the week before last, but details have so far been scarce. Gold climbed throughout the year when it appeared the negotiations had stalled and is still on track for its best year since 2010, mainly because of the tariff war. Continue reading →
Gold up on weaker dollar this morning, even though the U.S.-China trade accord reduced the yellow metal’s attractiveness as an investment hedge. Continue reading →
Gold hanging tough this morning, recovering some of the turf it lost late yesterday as uncertainty over the U.S.-China trade standoff and the Brexit timetable diminished, causing equities to rally and reducing the yellow metal’s attractiveness as an investment hedge. Continue reading →
Gold steady on inflation data this morning as the markets await today’s policy statement from the Federal Reserve and amid speculation on whether the Trump administration will impose a new round of tariffs on China as scheduled on Sunday. Continue reading →
Gold modestly up this morning on less than positive economic news out of China. The yellow metal regained some of the ground it lost after slipping Friday on a better-than-expected U.S. jobs report.
The positive job number reduces the urgency for a trade accord with China and helps justify a Federal Reserve decision — widely expected Wednesday — to keep interest rates unchanged. Continue reading →
Gold slips on jobs report this morning, taking a bit of shine off a positive week. Lingering uncertainty over the potential U.S.-China trade deal kept the yellow more attractive as a hedge over the past few days.
This morning’s non-farm payroll numbers surged, up 266,000. The expected increase was 180,000. This is the biggest jump since January. The end of the GM strike boosted employment in motor vehicles and parts by 41,300, part of an overall 54,000 gain in manufacturing. Continue reading →
Gold near a one-month high as the yellow metal fluctuates through the early morning hours driven by disappointing job numbers and new hopeful trade comments from President Trump.
Gold rose significantly on Tuesday after U.S. President Donald Trump said that it might be better to wait until after the 2020 presidential election in November to sign a trade deal with China. Continue reading →
Gold rises on weak ISM data this morning. After drifting a bit lower early this morning on an equities rally, the yellow metal got a shot in the arm and the Dow took a hit when the ISM Manufacturing PMI dipped to 48.1 for November. That’s below an estimate of 49.4 and under October’s 48.3. Continue reading →
Gold holding above $1,450 despite stumbling on strong economic data released this morning. Three new pre-holiday reports show positive signs including a drop of 15,000 in U.S. weekly jobless claims, better-than-expected growth in the U.S. third quarter GDP (up an annual rate of 2.1% versus the forecast 1.9%), and the U.S. Commerce Department report showed an increase of .6% in U.S. durable-goods orders for October, that’s up from September’s revised 1.4% drop. Continue reading →
The Dillon Gage family wishes you and yours a very Happy Thanksgiving!
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Gold slipped earlier Monday to a one-week low amid signs that the U.S. and China were edging closer to a trade deal.
Equities and the dollar rallied, making gold less attractive as an alternative investment. Gold prices skyrocketed earlier this year as a hedge against uncertainty as the U.S.-China trade standoff worsened. Continue reading →
Gold firmed up early Friday amid doubts over whether the U.S. and China will manage to sign a trade deal this year.
Gold rose on trade-deal fears early Wednesday and have now leveled off in anticipation of the FOMC minutes which will be released this afternoon.
U.S. President Donald Trump renewed a threat of tariffs on Chinese imports on Tuesday. “If we don’t make a deal with China, I’ll just raise the tariffs even higher,” Trump said during yesterday’s Cabinet meeting, according to Reuters. Continue reading →
Gold slips on U.S. Retail Data released this morning for October that showed a rebound.
While October shopping was up, consumers cut back on big ticket items. Commerce Department reports retail sales increased 0.3%, primarily on motor vehicle purchases and higher gas prices. This reversed September’s 0.3% drop and topped a forecast rise of 0.2%.
Gold dipped yesterday after White House Economic Adviser Larry Kudlow said trade talks between the U.S. and China for phase one of a trade agreement were near the final stages. “We are coming down to the short strokes,” he told reporters late Thursday, according to Bloomberg. Continue reading →
Gold shrugs off inflation data this morning as the U.S. Consumer Price Index shows a 0.4% rise for October according to the U.S. Labor Department. Consensus forecasts were calling for a rise of 0.3% following September’s flat number. The October number marks the highest monthly increase since March. Continue reading →
Gold enjoyed a a bump up this morning on continued trade uncertainty over the U.S.-China trade accord and disappointing Chinese producer price data over the weekend.
The yellow metal settle at $1,462.90 an ounce Friday on Comex. It rose to $1,467.90 earlier this morning, but is back to $1,461.30. Continue reading →
Gold rebounded this morning, regaining part of a nearly 2% decline in the previous session, as sentiment about a U.S.-China trade pact wobbled.
U.S. and Chinese officials are actively considering rolling back some tariffs to reach the partial trade deal that they’re currently negotiating, Continue reading →
Gold is steady near a five-week high this morning on a weaker dollar and signs of a possible U.S.-China trade accord. It’s basically shrugging off overnight world stock market rallies which are giving the U.S. Stocks a big boost, heading for new all-time highs at the opening bell. Continue reading →
Jobs report dulls gold as the data released this morning shows U.S. jobs growth slowed less than expected in October and China’s factory activity expanded at its fastest pace in more than two years.
The non-farm payrolls data released by the Labor Department showed jobs growth in October came in at 128,000. Economists polled by Reuters had predicted just 89,000 jobs. However, growth still slowed from September.
Continue reading →
Gold slips on record stocks this morning. Any other major shifts in gold likely await the monetary policy decision this week from the Federal Reserve and further signs the U.S.-China trade dispute may be resolved in the coming weeks.
The S&P 500 hit a record high this morning. CNBC reporting a break above the all-time high set over the summer. The S&P rose 0.6% to trade above 3,027.98, the record set on July 26, prompted by investors’ positive view of the U.S. China trade talks. Continue reading →
Gold rises to two-week high earlier this morning after settling above the key $1,500-an-ounce threshold for the first time since Oct. 10. After gaining 1.1% this week, gold looks headed to its best week in five.
Investors fled to safety in the yellow metal amid weak economic data from the U.S. that also made it more likely that the Federal Reserve will boost interest rates for a third consecutive time next week. Meanwhile, the BBC reported that European Union ambassadors will meet to discuss how long a Brexit extension to offer the U.K. and Parliament considers Prime Minister Boris Johnson’s call for an early election in December. Continue reading →
Gold rises on flight to safety. Gold and silver rose this morning as investors fled to safe-haven assets after the U.K. Parliament blocked Prime Minister Boris Johnson’s timetable to exit the European Union by the end of this month.
An election in the U.K. looked more likely after the House of Commons — within minutes — voted to back the government’s new withdrawal bill and then rejected the timetable. European Council President Donald Tusk said after the vote that he would recommend that EU leaders agree to an extension. Johnson will seek an election if a delay is granted, the BBC reported, citing an unidentified person in Johnson’s office. Continue reading →
Overnight, the U.S. dollar index dropped to a nine-week low giving gold and its precious metals family a boost.
Investors are still looking for signals on Brexit, the U.S.-China trade talks and whether the Federal Reserve will cut interests rates for a third time at the end of the month. Continue reading →
Gold hopes for weekly advance. After climbing over $1,500 yesterday on mixed economic data from the U.S. in the morning and decidedly bleak Chinese economic data, the yellow metal dipped again closer to $1,490 this morning as the U.S. stock market regained some ground.
Low retail numbers boosting gold this morning. U.S. retail sales fell in September for the first time in seven months. Sales dropped 0.3% as households slashed spending on building materials, online purchases and especially automobiles according to the latest data from the U.S. Commerce Department. A 0.2% rise had been forecast. These unexpected numbers are raising concerns that the slowdown in the American manufacturing sector could be bleeding into the consumer side of the economy.
Continue reading →
Gold rebounds on renewed trade doubts after taking a hit on Friday’s optimistic headlines of a trade deal between U.S. and China. After surging on Friday, stock markets are heading down as investors grow pessimistic on the “handshake” deal.
On Friday, gold fell after it was reported that China had agreed to more than double its annual purchases of U.S. agricultural products to as much as $50 billion, while U.S. President Donald Trump agreed to hold off on another round of tariff increases set for this week.
Continue reading →
Gold eases on renewed trade hopes as the standoff between the U.S. and China NOW appears to be on a positive track. Precious metals are now awaiting reaction to the next potential market mover, the release of this afternoon’s FOMC minutes.
Late yesterday, gold got a headwind when tariff talks had seemed to worsen in the leadup to talks between the two nations Thursday and Friday in Washington. But now, Bloomberg is reporting that China is still open to agreeing to a partial trade deal, citing an official with direct knowledge of the talks. The headline boosted U.S and Eurozone stock markets and took a bit of shine off the yellow metal. Continue reading →
Gold steady ahead of trade talks, remaining little changed early Monday as investors looked for signs about the direction of the negotiations between the U.S. and China, which are scheduled to resume this week in Washington.
Investors have turned to bullion as a hedge against uncertainty when the talks appear to be stalling. The next round of discussions is scheduled for Oct. 10 and Oct. 11. Continue reading →
Part 2: Pricing and Supply
In the first installment of our three-part platinum series, we outlined how significant changes are being made in the platinum market as the metal moves away from outdated sources of demand, finds new avenues of demand in technology, and once again begins to appeal to investors. Today we’ll look at how the factors affecting supply and price are showing further signs that 2019 may finally start to bring a reversal of fortune for platinum. Continue reading →
Gold eyeing $1,500 again this morning on safe haven investing. The yellow metal had rebounded Tuesday when weak U.S. manufacturing data for September spurred fears of a global economic slowdown. Gold received a further boost from this morning’s ADP U.S. new jobs report which fell shy of expectations furthering economic growth concerns.
Private sector employment increased by 135,000 jobs in September, but the August number was 157,000. According to ADP: “The average monthly job growth for the past three months is 145,000, down from 214,000 for the same time period last year.” Continue reading →
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. Continue reading →
Gold fighting this morning against a stronger dollar. Late Thursday, investors turned to the dollar as an alternate safe-haven asset amid political uncertainty in the U.S.
The dollar Index hit a new high for 2019 in the early hours today responding to a weakened euro as well as domestic concerns. Continue reading →
Part 1: Shifting demand
Gold and Silver’s rebound may be catching the headlines lately, but behind the scenes, platinum has also been showing new signs of life.
For decades, platinum’s winning combination of scarcity and demand boosted prices to levels far exceeding gold. But demand drivers have shifted in recent years, forcing the once-shining star to fall behind its other industrial metal peers. In this three-part series, we’ll look at how platinum is adapting to the latest technology and signs that 2019 may finally start to bring a reversal of fortune for this battered metal. Continue reading →