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Gold & Silver Market Analysis for Monday 13th of September
Kinesis Money – Macroeconomic Analysis
The devil is in the details and investors are paying massive attention to all macroeconomic data, trying to interpret the next steps of monetary policies of both the Federal Reserve and the European Central Bank (ECB). Inflation figures, in particular, are probably the most studied, as they hold the potential to be one of the main catalysts for pushing central banks to finally begin the so-called tapering (the process of reducing liquidity in the system).
Therefore, this week is offering an interesting series of data releases, including the inflation levels recorded last month in the U.S. and in Europe. Read More
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Is it time to buy gold? WGC says September has high confidence level
The World Gold Council (WGC) rarely comments on when it is best to buy or sell gold, but its recent report highlighted September as one of the most opportune times to purchase the precious metal.
“September has been one of the strongest months historically for the price of gold, and this could present an opportunity for investors as we head into the fourth quarter of the year,” the WGC said in a report.
Gold has delivered positive returns during the month of September “with a confidence level” of nearly 90%, the WGC said, citing its analysis. Read More
Gold and silver trade marginally lower heading into the European open
Gold is flat this morning leading into the European cash open this morning. Silver is 0.21% lower but the all-important U.S. CPI data could throw a spanner in the works later in the session. In the rest of the commodities complex, copper is down nearly half a percent and spot WTI continues to rise as investors fear the impact of Hurricane Nicholas. Read More
The Palladium capitulation continues
Today palladium is down another 2% and that means the price has fallen just over 30% in a 19 day period. On the technical front, the price has made a new lower high lower low after the previous wave low at $2276/oz broke to the downside. The main area of support that some analysts were interested in was the orange support zone and it provided no rest bite for the capitulation.
Moving forward the next technical support area is at the $1800/oz area. This would mean the $2000 psychological zone would need to be taken out first and at the moment the price is only $43 away. Read More
Commerzbank shares its view on the dollar
In their latest research note, Commerzbank has given its view on the U.S. dollar. Karen Jones FSTA and Axel Rudolph FSTA have been following the FX and precious metals markets closely and their insight has been valuable.
They went on to say, "the U.S. Dollar Index is finding some short-term support around the 55-week ma at 0.9180 and seeing some near-term strength, but this should remain somewhat limited. Maintain a negative bias." Read More
Gold sees price declines amid quieter marketplace
Gold and silver prices are lower in early U.S. trading Tuesday, as risk aversion has receded a bit early this week amid a calm trading environment at present. The safe-haven metals bulls need a fundamental spark to jumpstart price rallies. October gold futures were last down $9.70 at $1,782.60. December Comex silver was last down $0.321 at $23.475 an ounce. Read More
Gold prices see little movement following 0.3% rise in U.S. CPI
The gold market is off its session lows but remains under $1,800 an ounce as consumer inflation pressures rise less than expected in August.
Tuesday, the U.S. Labor Department said its U.S. Consumer Price Index rose 0.3% in August, after a 0.5% rise in July. The data missed consensus forecasts as economists were forecasting a 0.4% rise.
For the year, the report said that headline inflation rose 5.3%, in line with expectations. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or other advice.
