Gold and Platinum Settle Higher While Silver and Copper Settle Lower

Michael Bullion Precious Metals Leave a Comment

Gold and Platinum Settle Higher While Silver and Copper Settle Lower Gold settled higher Thursday on continued weakness in the U.S. dollar.  A Chinese official announced that the news yesterday on slowing U.S. Treasury purchases was unfounded, and supporting that statement, the 30 year treasury auction today saw large foreign demand pushing bond yields down.  This continued Gold’s rise from …

Metals Settle Higher Amid Inflation and U.S. Dollar Concerns

Michael Bullion Precious Metals Leave a Comment

  Gold settled higher Wednesday on a weakened U.S. dollar, touching an intraday peak of $1,328.60, a 4 month high.  China announced that it is considering slowing U.S. Treasury purchases, pushing yields to new highs as well as putting downward pressure on the U.S. dollar.  The U.S. dollar felt additional pressure as U.S. import prices for December came in lower …

Daily Gold Commentary January 8, 2018

Michael Bullion Precious Metals Leave a Comment

Gold settled lower Monday with a rally in the dollar amid renewed expectations that the Federal Reserve will hike interest rates at their next meeting.  Even though the jobs report released Friday was slightly disappointing, showing less than expected job growth, investors still believe the Fed will raise rates in March as the San Francisco Fed President Williams iterated over …

Daily Gold Review

Michael Bullion General Commentary, Precious Metals Leave a Comment

Bullion on Bullion Gold settled slightly lower Thursday reversing the positive return from yesterday with the February contracts closing at 1269.2.  Demonstrating further economic growth, the November Leading Economic Indicators came out this morning matching expectations after beating expectations in October.  High consumer sentiment and manufacturing new orders were both sighted as main contributors by The Conference Board, the publisher …

Daily Gold Report

Sean Lusk Precious Metals Leave a Comment

Gold settled higher Wednesday, recouping part of the losses suffered over the last four sessions that sent prices to a nearly six-month low. Gold prices then climbed above the settlement level as the dollar continued to weaken in the wake of the FOMC rate hike as expected, for the third time in 2017. The central bank lifted a key short-term U.S. …

Daily Gold Report

Sean Lusk Precious Metals Leave a Comment

Gold and Silver traded higher today with silver showing impressive gains as it pushed through the 17.00 level to close up at 17.17 up .48 cents for the session. Gold was the weak sister showing modest gains of just about $8.00 to close at 1277.3. Pre-positioning ahead of the FOMC rate decision was one reason we had short covering in …

Weekly Gold Report

Sean Lusk General Commentary, Precious Metals Leave a Comment

Gold prices fell on Friday after the Senate approved a budget blueprint that paves the way for tax cuts, causing stocks, the dollar and bond yields to rise. For the week gold slipped almost two percent ($23.90) to close at 1280.5 basis December futures. December silver almost 34 cents to close the week at 17.07. The Republican-controlled Senate voted by 51-to-49 …

Daily Gold Report

Sean Lusk Precious Metals Leave a Comment

As noted on Friday’s report, gold and silver experienced an intraday reversal which most likely meant that both markets would experience follow through buying in the next few sessions. That is exactly what has occurred to start this week. December gold settled at 1293.8 and is currently up $18.90 for the week while silver settled up at 1720.5 and is …

Daily Gold Report

Sean Lusk Precious Metals Leave a Comment

Gold and Silver retreated again on Monday trading down to multi month lows before recovering near the close. December gold lost $9.00 to close at 1275.8, while silver firmed at the close to finish Monday’s session at 16.67 down only 2.5 cents. Higher bond yields sent the Dollar soaring while equity futures continue their unrelenting rally. Simply put a higher …