Grant on Gold Blog

Thursday, November 14, 2019 12:45:24 PM America/Chicago

Gold firmed to new highs on the week, bolstered by the further dimming of trade deal optimism, a softer dollar and mounting global growth risks.

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Posted in News By Peter Grant

Zaner Precious Metals Report

Thursday, November 14, 2019 8:40:36 AM America/Chicago

Given the massive three-week slide in gold and silver prices (gold declined $73 and silver declined $1.62) both markets clearly had the technical capacity to respect key chart support levels and therefore some of the bounce this week is attributable to needed technical short-covering action.

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Posted in News By Zaner Metals

Grant on Gold Blog

Wednesday, November 13, 2019 11:03:22 AM America/Chicago

Gold firmed in late trading yesterday to close higher on the day and we're seeing some modest upside follow-through today. The yellow metal is trading about $20 off Tuesday's 13-week low.

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Posted in News By Peter Grant

Zaner Precious Metals Report

Wednesday, November 13, 2019 9:24:29 AM America/Chicago

Instead of seeing trade relations calm they appear to have eroded and that has provided risk-off buying of gold and silver in the early going today. It is also possible that some of the gains in gold and silver prices this morning are the result of anticipation of geopolitical anxiety flowing from the kickoff of the impeachment hearings in Washington.

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Posted in News By Zaner Metals

Grant on Gold Blog

Tuesday, November 12, 2019 1:21:15 PM America/Chicago

Gold remains defensive in New York trading, weighed by persistent outflows in the paper market. The yellow metal set a fresh 13-week low in early U.S. trading.

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Posted in News By Peter Grant

Zaner Precious Metals Report

Tuesday, November 12, 2019 8:58:35 AM America/Chicago

While the December gold contract did not technically forge a lower low this morning, the charts remain negative and the overall macroeconomic environment doesn't have the feel of enough anxiety to reverse that bias.

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Posted in News By Zaner Metals

Zaner Precious Metals Report

Monday, November 11, 2019 9:59:04 AM America/Chicago

The gold market has failed to benefit from a potential rekindling of economic uncertainty from trade and that partially stems from the fact that overall market sentiment shifted positive following the last US payroll reading but also because of a series of negative gold demand developments.

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Posted in News By Zaner Metals

Zaner Precious Metals Report

Friday, November 8, 2019 10:12:01 AM America/Chicago

As we have been indicating for the past two weeks, the gold and silver markets were very vulnerable to a liquidation wave as internal fundamentals have consistently shifted in favor of the bears, and that combined with a sudden let down in global safe-haven interest from the trade front leaves the prospect of more longs fleeing to the sidelines.

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Posted in News By Zaner Metals

Zaner Precious Metals Report

Thursday, November 7, 2019 7:14:55 AM America/Chicago

Fortunately for the bull camp in gold and silver the markets in general have not fully embraced comments from China indicating that tariffs will be unwound on both sides of the Pacific in a phased approach, perhaps because news that the signing of the deal appears to have been knocked back to December and anything can happen over the next month.

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Posted in News By Zaner Metals

Zaner Precious Metals Report

Wednesday, November 6, 2019 6:54:40 AM America/Chicago

From a short-term perspective, the gold market may have found a temporary reprieve as the pendulum on trade talks appears to have shifted slightly back away from progress. In other words, headlines suggesting China's request to roll back tariffs might be a firm demand could derail talks unless those demands are accompanied by notable Chinese concessions. Without Chinese concessions, we highly doubt President Trump will consider a rollback.

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Posted in News By Zaner Metals
    
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