Blog posts tagged with 'silver'

With a risk-off environment in equities and commodities overnight gold and silver overnight have paused/retrenched after significant gains.

However, the initial landscape today favors further corrective action as US treasury yields have broken out to the upside perhaps in anticipation of today's US Federal Reserve Chairman speech which many expect to reiterate the "higher for longer" mantra.

On the other hand, the Fed has recently expressed concern for the drag on the economy from surging long-term rates and the Chairman might address that situation today...[MORE]

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Oct 18 (Reuters) - Gold edged higher to near 2-1/2-month high on Thursday as fears of an escalation in the Israel-Hamas conflict kept demand for safe-haven assets intact, with focus also on U.S. Federal Reserve Chair Jerome Powell’s speech later in the day.

Spot gold rose 0.1% to $1,950.49 per ounce by 1141 GMT after hitting its highest since Aug. 1 in the previous session. U.S. gold futures eased 0.3% to $1,962.30...[LINK]

Good morning. The precious metals are mostly higher in early U.S. trading.

U.S. calendar features Philly Fed Index, Initial Jobless Claims, LEI, Existing Home Sales.

FedSpeak due from Powell, Jefferson, Goolsbee, Bostic Harker, Barr & Logan.

While we suspect the bombing of a hospital in Gaza has sparked the sharp upside extensions in gold and silver prices today, it is also possible that a measure of improved physical demand hope from stronger-than-expected Chinese data is adding to the bullish mix today.

While not a definitive supportive element in the early going, the dollar is poised just above a downside breakout point on the charts and could fail if estimates for US building permits match or come in below estimates.

However, with crude oil prices jumping by more than $2.00 overnight, fear of a broadening of the conflict in the Middle East creates the potential for a large flight to quality event and rekindles fear of inflation potential inspired by surging energy prices...[MORE]

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Oct 18 (Reuters) - Gold rose more than 1% on Wednesday after a deadly blast in Gaza raised fears of an escalation in the Middle East conflict and pushed investors towards safe-haven assets.

Spot gold rose 1.1% to $1,944.90 per ounce by 1131 GMT, its highest since Sept. 20. U.S. gold futures jumped 1.2% to $1,958.90...[LINK]

While outside market moves are not significant, gold is posting minimal gains despite strength in the dollar and weakness in treasury prices!

However, some international traders see risk premiums falling with the US presidential visit to Gaza with the idea that diplomatic efforts could calm the situation.

Unfortunately for the bull camp global economic activity is showing signs of slowing with global manufacturing softening and demand for industrial metals declining and that casts a shadow over precious metal markets...[MORE]

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Oct 17 (Reuters) - Gold prices edged higher on Tuesday as investors took stock of developments in the Middle East and awaited Federal Reserve Chair Jerome Powell’s speech later this week for cues on the U.S. interest rate path.

Spot gold was up 0.2% at $1,923.78 per ounce by 1122 GMT, and U.S. gold futures rose 0.1% to $1,936.70...[LINK]