Morning Call
Monday, July 31, 2023Good morning. The precious metals are higher in early U.S. trading.
U.S. calendar features Chicago PMI, Dallas Fed Index, FedSpeak from Goolsbee.
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Blog posts tagged with 'gold'
Zaner Daily Precious Metals Commentary
Friday, July 28, 2023The gold and silver markets look to finish the week with a downward tilt following US data displaying a stronger-than-expected US economy.
In other words, surprisingly strong US data reversed the downward track in the dollar from earlier in the week and pushed up interest rates, and could have pushed the pendulum toward a US rate hike in September.
Unfortunately for the bull camp, the passing of the latest US and European rate hikes failed to provide a relief/pause in the headwinds from monetary policy tightening...[MORE]
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Gold heads for weekly loss on strong US economic data
Friday, July 28, 2023July 28 (Reuters) - Gold regained some ground on Friday as the dollar retreated, but still headed for its worst week in five after data pointing to a resilient U.S. economy soured bets for a dovish tilt in U.S. monetary policy.
Spot gold rose 0.6% to $1,956.69 per ounce by 1133 GMT, up from its lowest since July 12. U.S. gold futures gained 0.5% to $1,955.70...[LINK]
Morning Call
Friday, July 28, 2023Good morning. The #preciousmetals are mostly higher in early U.S. trading.
U.S. calendar features ECI, Person Income, PCE, Michigan Sentiment, Ag Prices.
Zaner Daily Precious Metals Commentary
Thursday, July 27, 2023With a noted decline in the US dollar overnight the gold and silver markets have been provided with fresh oxygen, and the bull camp has been given added confidence to extend yesterday's recovery.
Unfortunately for the bull camp, gold ETF holdings yesterday saw an outflow of 2,627 ounces, the 3rd straight day of outflows and ETFs have now seen net sales on the year of 2.02 million ounces.
Similarly, silver ETF holdings saw an outflow of 1.1 million ounces bringing the year-to-date "net sales" to 17.4 million ounces...[MORE]
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Gold flirts with 1-week peak as ECB rate verdict looms
Thursday, July 27, 2023July 27 (Reuters) - Gold hovered near a one-week high on Thursday as the dollar slipped on renewed expectations that an end to the Federal Reserve’s interest rate cycle was on the horizon, with focus on the European Central Bank’s impending decision.
Spot gold rose 0.3% to $1,977.19 per ounce by 1204 GMT, after earlier hitting its highest since July 20. U.S. gold futures were up 0.4% to $1,977.70...[LINK]
Morning Call
Thursday, July 27, 2023Good morning. The precious metals are mixed in early U.S. trading.
U.S. calendar features Q2 GDP Advance Report, Durable Orders, Goods Trade, Initial Jobless Claims, Pending Home Sales Index.
Zaner Daily Precious Metals Commentary
Wednesday, July 26, 2023With a slight corrective setback in the #dollar, this morning's recovery bounce in gold and silver is not surprising.
We suspect many traders are holding on the sidelines ahead of this afternoon's US Fed decision and statement. With market expectations pegging today's US rate hike as nearly a certainty, the focus of the markets will be on the tone and direction of future policy dialogue in the Fed's statement.
However, investors continued to exit gold ETF holdings with an outflow yesterday of 127,436 ounces while silver ETF holdings advanced minimally by 224,436 ounces, leaving both gold and silver holdings down 2.2% year-to-date...[MORE]
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Gold climbs as Fed seen nearing interest rate summit
Wednesday, July 26, 2023July 26 (Reuters) - Gold prices climbed on Wednesday due to some safe-haven demand before the U.S. Federal Reserve delivers a widely expected rate hike later in the day, as traders see the fight to tame inflation nearing its endgame.
Spot gold rose 0.4% to $1,972.22 per ounce by 1145 GMT, while U.S. gold futures gained 0.5% to $1,973.60...[LINK]
Daily Call
Wednesday, July 26, 2023Good morning. The precious metals are mostly lower in early U.S. trading.
U.S. calendar features New Home Sales, EIA Data, FOMC Policy Statement.