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Gold and silver trade flat leading into the European open
Gold and silver are trading marginally lower leading into the European open. The yellow metal is once again at the $1800/oz psychological pivot zone while silver defended the drop below $25/oz. In the rest of the commodities complex, copper has pushed 0.67% higher and spot WTI is trading flat after an impressive 5.78% climb on Wednesday. Read More
Silver price bounces off support below $25; weakness is overdone - Commerzbank
Overnight, silver prices dropped to a three-month low below $25.00 an ounce but have managed to push back above that critical psychological level during the North American session. September silver futures last traded at $25.215 an ounce, up nearly 1% on the day.
The silver market is also underperforming gold, with the gold/silver ratio currently trading above 71 points, a level not seen since the start of the year. Read More
Hold on to your gold; a Fed rate hike in 2023 could be too little too late for inflation - VanEck's Joe Foster
The gold market continues to struggle as investors focus on the potential for tighter monetary policy and transitory higher inflation pressures.
However, one fund manager says that the rally in the gold market is far from done as there is still plenty of uncertainty to support precious metals prices. In a report published last week, Joe Foster portfolio manager, of the VanEck Gold Strategy, said that he still sees potential for gold prices to push back to $2,000 an ounce by the end of the year as it could be too little too late for the Fed to stop the growing inflation threat. Read More
The Canadian Mint has seen an 81% jump in revenue
Royal Canadian Mint (MNT:TSX) has reported a strong performance in Q1 2021. Revenue from precious metal business increased to $852 million in Q1 compared to 2020 Q1 performance of $465.2 million. The report also noted that gold bullion volumes increased more than 65% Q/Q and were 328.5 thousand ounces (Q1 2020 – 198.1 thousand ounces) while silver bullion volumes increased 52% and were 9.9 million ounces (Q1 2020 – 6.6 million ounces). Read More
Gold erases overnight price losses on bullish data
Gold prices are near steady in early U.S. trading Thursday and have taken back moderate overnight losses after some friendly U.S. and Eurozone economic data. August gold futures were last up $0.90 at $1,804.30 and September Comex silver was last down $0.10 at $25.155 an ounce. Read More
Gold price holding $1,800 an ounce as U.S. weekly jobless claims rise by 51K
The gold market continues to hold important support above $1,800 an ounce but continues to see little movement to disappointing economic data as more Americans than expected apply for first-time unemployment. Read More
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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
