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Gold $3,331.37 $7.47 0.22% Silver $37.16 $0.15 0.41% Platinum $1,358.26 $(3.04) -0.22% Palladium $1,136.54 $(6.09) -0.53%
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Blog posts tagged with 'precious metals'

Zaner Daily Precious Metals Commentary
Thursday, March 21, 2024

Precious metals have broken out to the upside in a very positive reaction to the FOMC meeting results.

June gold has reached a new record high while May silver reached a 3 1/2-month high early in today's action, and both are holding onto those gains this morning.

Gold and silver have benefited from the sizable pullback in the dollar after it reached a 3-week high before the FOMC meeting results. While the dollar has found its footing, it remains well below Wednesday's high and is providing support to metals markets...[MORE]

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Zaner Daily Precious Metals Commentary
Wednesday, March 20, 2024

While gold prices have regained the upper hand on silver, both are holding in relatively tight price ranges this morning.

After this afternoon's Fed meeting results and Fed Chair Powell's press conference, gold and silver are likely to break out of those tight ranges.

The dollar has rallied to a 3-week high in a "buy the fact" reaction to the first Bank of Japan rate hike in 17 years, and that continues to pressure gold and silver prices...[MORE]

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Zaner Metals at the ANA Money Show
Tuesday, March 19, 2024

The Zaner Metals team attended the American Numismatic Association Money Show last week.

Zaner Team

The Broadmoor is a spectacular venue and the crowds didn't seem deterred at all by the snowstorm that began on Wednesday and continued into Thursday.



The Upstate Coin & Gold client appreciation dinner at the United States Olympic Museum was amazing!

We had many great conversations about hedging #preciousmetals inventory, eCommerce solutions, and inventory management. We hope to continue those conversations in the weeks ahead.

Shout-out to Dane and Adam of Olevian Numismatic Rarities, Tom Hallenbeck of Hallenbeck Coin Gallery, Inc., and all the rest for freely sharing your valuable industry insights. We fully anticipate incorporating some of your ideas into upcoming product releases.

It was great to see old friends and make new connections. We look forward to seeing all of you at upcoming shows.

In the meantime, if you have questions about our product offerings or wish to get set up with a demo of the Tornado Hedging Platform, please give us a call at 312-549-9986.

Zaner Daily Precious Metals Commentary
Tuesday, March 19, 2024

While gold and silver saw divergent trading action at the start of this week, they are both on the defensive early on.

There was a role reversal Monday with gold regaining the upper hand on silver as both remain close to 2024 price highs.

The dollar has extended its mid-March recovery to a 3-week high in the wake of the Bank of Japan's first rate hike since 2007 as the Yen had a "sell the fact" reaction falling to a new low for the move and that in turn put early pressure on precious metals prices...[MORE]

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Zaner Daily Precious Metals Commentary
Thursday, March 14, 2024

Even though April gold posted a solid gain in Wednesday's trade, further confirmation of residual/sticky US inflation today could unleash an additional and perhaps more aggressive long liquidation washout.

Fortunately for the bull camp, the US dollar has not rallied on stubborn signs of sticky US inflation and declining US rate cut hopes, but that could change if Tuesday's inflation concern is reconfirmed by today's inflation news.

It should also be noted that Bitcoin posted new all-time highs again and, most gold mining shares showed significant gains yesterday with Newmont and Barrick up 1.7%, Harmony gold up 3.6% and Sibanye Stillwater up 6.7%...[MORE]

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Zaner Daily Precious Metals Commentary
Wednesday, March 13, 2024

While the dollar has not shown fresh direction following its aggressive recovery bounce yesterday, the upward bias from the charts and a measure of newfound respect for lingering inflation reduces the prospect of US easing in June.

However, gold and silver should be cushioned by continued chatter about a European rate cut in June.

In today's action, the markets could simply "mark time" as the other shoe to drop (Thursday's PPI) could easily rekindle another upward pulse in the dollar and downward pulse action in gold and silver...[MORE]

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Zaner Daily Precious Metals Commentary
Tuesday, March 12, 2024

There is no doubt the gold market has expended a tremendous amount of speculative buying fuel in achieving a $200 rally and today the trade will finally see the true origin of the rally.

In our opinion, part of the significant rally in gold is the market's attempt to mirror the record rally in Bitcoin, with a lesser force from hopes of a June rate cut.

Clearly, traders are becoming price-sensitive as Friday's massive range-up move has stalled and trading volume has moderated significantly...[MORE]

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Gold pulls back from record high ahead of US CPI data
Tuesday, March 12, 2024
March 12 (Reuters) - Gold edged further away from a record peak on Tuesday as it looks set to break nine straight sessions of gains ahead of critical U.S. inflation data that could pave the way for imminent interest rate cuts by the Federal Reserve.
 
Spot gold fell 0.5% to $2,171.59 per ounce as of 1207 GMT, trading below a record high of $2,194.99 it hit on Friday. U.S. gold futures also dipped 0.5% to $2,177.50...[LINK]
Zaner Daily Precious Metals Commentary
Monday, March 11, 2024

With outside market action remaining in favor of the bear camp early today, the bull camp remains hopeful that this week's inflation data will further revive the prospect of a US rate cut, which in turn would continue to pressure the dollar and treasury yields lower.

However, the gold market is vulnerable this morning following comments from the Indian Bullion and Jewelers Association suggesting Indian wedding season demand will soften due to record pricing.

Along those lines, the domestic Indian gold trade has seen prices shift into a discount relative to global markets, with Chinese premiums narrowing...[MORE]

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Gold steady after record run as US inflation data looms
Monday, March 11, 2024
March 11 (Reuters) - Gold prices held steady on Monday after hitting a series of record highs last week, while investors waited for U.S. inflation data for insights into the Federal Reserve's rate cut timeline.
 
Spot gold was little changed at $2,176.30 per ounce at 1121 GMT, after hitting a record high for the fourth consecutive session on Friday at $2,194.99 as data indicated the U.S. labour market was slowing...[LINK]