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Gold Jun '24 (GCM24)

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Gold Futures Market News and Commentary

Dollar Retreats on US-Iran Peace Optimism and Below-Estimate PPI Report

The dollar index (DXY00) today fell to a 6-week low and is down by -0.33%.  The dollar is under pressure today amid easing geopolitical concerns after Reuters reported that the US and Iran are considering extending a two-week ceasefire that expires on April 22 and could resume negotiations this week in Pakistan. The dollar extended its losses today after US March producers rose less than expected.

US Mar PPI final demand rose +0.5% m/m and +4.0% y/y, weaker than expectations of +1.1% m/m and +4.6% y/y.  Mar PPI ex-food and energy rose +0.1% m/m and +3.8% y/y, weaker than expectations of +0.4% m/m and +4.1% y/y.

Swaps markets are discounting the odds at 1% for a +25 bp rate hike at the April 28-29 FOMC meeting.

The dollar continues to be undercut by a poor outlook for interest rate differentials, with the FOMC expected to cut interest rates by at least -25 bp in 2026, while the BOJ and ECB are expected to raise rates by at least +25 bp in 2026. 

EUR/USD (^EURU... Read more

A hundred dollar bill being torn by Alona Siniehina via iStock
Dollar Retreats on US-Iran Peace Optimism and Below-Estimate PPI Report

The dollar index (DXY00 ) today fell to a 6-week low and is down by -0.33%. The dollar is under pressure today amid easing geopolitical concerns after...

Silver bullion by SonerCdem via iStock
Silver $77 & Climbing | Is $86 Next? | Three Scenarios to Watch

Silver trades near $77 as markets assess whether $86 is within reach, with Phil Streible breaking down the setup and three scenarios in focus on Metals...

Aluminum by Tom Via Pixabay
Higher Aluminum Prices Are a Win for Alcoa Stock, Says Morgan Stanley. Should You Buy AA Here?

Disruptions in the Middle East have been cited as the primary reason for the firm's upgrade of Alcoa's stock.

Stacked silver bars by Tookapic via Pixabay
Silver Volatility Surges as Global Uncertainty Shakes Metal Markets

Silver made a very sharp decline and dropped more than 40% from the all time highs back in January. This is something we were concerned about, as a higher...

A one dollar bill floating in water by Wirestock via iStock
Dollar Turns Lower After President Trump Said Iran Wants a Deal

The dollar index (DXY00 ) on Monday fell by -0.24%. The dollar gave up an early advance on Monday and fell to a 1.25-month low after stocks recovered...

Pile of money with hands by Sergey Nazarov via iStock
Dollar Strengthens as US-Iran Peace Talks Break Down

The dollar index (DXY00 ) today is up by +0.15%. The dollar is climbing today on increased safe-haven demand after the US-Iran peace talks broke down...

Heavy, Unusual Volume in Amazon Options Ahead of Earnings in Two Weeks

A Barchart report today shows huge, unusual volume in Amazon Inc options ahead of its earnings due out at the end of the month. Investors are piling into...

Hogs Trading with Tuesday Weakness

Lean hog futures are showing 40 to 60 cent losses at midday, as April is steady ahead of the Wednesday expiration. USDA’s national base hog price was...

Cotton Retreating on Tuesday

Cotton futures are trading with contracts 9 to 60 points in the front months. The US dollar index was $0.273 lower at $97.890. Crude oil is down $6.53...

Cattle Rallying on Tuesday

Live cattle futures are up $1.95 to $2.80 in most contracts on Tuesday. Last week’s cash trade was at $246-249 in the South, with some northern action...

Corn Holding onto Strength at Midday

Corn futures are trading with contracts fractionally to 3 cents in the green so far on Tuesday’s midday. The CmdtyView national averageCash Corn price...

Soybeans Reverting Lower at Tuesday’s Midday

Soybeans are trading with 4 to 7 cent losses at midday. The cmdtyView national average Cash Bean price is down 4 1/2 cents at $10.91. Soymeal futures are...

Wheat Rally Extending to Tuesday

The wheat complex is showing gains across most contract son Tuesday, with the three exchanges higher. Chicago SRW futures are 5 to 6 on the day. KC HRW...

Regency Centers' Quarterly Earnings Preview: What You Need to Know

Regency Centers is ready to release its fiscal first-quarter earnings this month, and analysts project a single-digit FFO rise.

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