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Gold $2,083.11 $(1.28) -0.06% Silver $23.14 $(0.02) -0.09% Platinum $890.98 $5.19 0.59% Palladium $971.25 $20.13 2.12%
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Blog posts of '2023' 'September'

Zaner Daily Precious Metals Commentary
 
Gold gets some respite but still poised for quarterly fall

Sep 29 (Reuters) - Gold prices edged up on Friday as a rally in the U.S. dollar and Treasury yields stalled, but was on track for monthly and quarterly declines on increased hopes that the U.S. Federal Reserve would keep interest rates higher for longer.

Spot gold rose 0.2% to $1,867.80 per ounce by 1148 GMT. U.S. gold futures gained 0.4% to $1,885.10...[LINK]

Morning Call
Good morning. The precious metals are higher in early U.S. trading.
 
Quote Board
 
U.S. calendar features Adv. Indicators: Goods Trade, Personal Income, PCE, Chicago PMI, Michigan Sentiment Final, Ag Prices, FedSpeak from Williams.
Zaner Daily Precious Metals Commentary

While December gold has avoided a fresh lower low in the early Thursday trade the path of least resistance remains down with outside market forces firmly anchored in the bear camp.

Unfortunately for the bull camp, the markets will face another critical US initial claims reading, with last week's reading posting the lowest weekly claims since early February!

At present, analyzing the gold market has become simplistic with unending strength in the dollar dominating the gold market...[MORE]

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Gold holds near 6-month low as higher US rates bite

Sep 28 (Reuters) - Gold prices were subdued on Thursday, having slid to their lowest in about six months in the last session, as an elevated U.S. dollar and Treasury yields continued to exert pressure on the non-yielding metal.

Spot gold was steady at $1,874.29 per ounce by 0939 GMT, hovering near its lowest level since March 13 hit on Wednesday. U.S. gold futures traded at $1,891.30...[LINK]

Gold holds near 6-month low as higher US rates bite

Sep 28 (Reuters) - Gold prices were subdued on Thursday, having slid to their lowest in about six months in the last session, as an elevated U.S. dollar and Treasury yields continued to exert pressure on the non-yielding metal.

Spot gold was steady at $1,874.29 per ounce by 0939 GMT, hovering near its lowest level since March 13 hit on Wednesday. U.S. gold futures traded at $1,891.30...[LINK]

Morning Call
Good morning. The precious metals are higher in early U.S. trading.
 
Quote Board
 
U.S. calendar features GDP Third Report (2.3% exp), Initial Jobless Claims, Pending Home Sales Index.
 
FedSpeak due from Goolsbee, Cook, Powell, & Barkin.
Zaner Daily Precious Metals Commentary

Another new high in the dollar equals another new low in gold and ongoing but less significant pressure on silver.

In addition to the cascading pressure from the strengthening dollar, both gold and silver continue to see an exodus of investment from ETF holdings.

Yesterday gold ETF holdings declined by 66,197 ounces and silver holdings declined by 1.26 million ounces, leaving net sales this year in gold at 5.15 million ounces and net sales of silver this year at 28.2 million ounces...[MORE]

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Gold retreats on dollar's ascent as higher Fed rate bets prevail

Sep 27 (Reuters) - Gold fell to its lowest in over a month on Wednesday on the dollar’s ascent as markets braced for the prospect of interest rates staying elevated for longer.

Spot gold was down 0.3% at $1,895.13 per ounce by 0932 GMT, its lowest level since Aug. 22. U.S. gold futures eased 0.3% to $1,913.30...[LINK]

Morning Call
Good morning. The #preciousmetals are mostly lower in early U.S. trading.
 
Quote Board
 
U.S. calendar features Durable Orders, EIA Data.