Gold Cash (GCY00)
Gold Futures Market News and Commentary
Dec Comex gold (GCZ19) this morning is down -4.2 (-0.28%), and Dec silver (SIZ19) is down -0.077 (-0.44%). Precious metals prices are weaker today as Brexit optimism undercuts gold prices and a slowdown in China's economy bolsters industrial metals demand concerns and pressures silver prices. 10-year UK gilt yields are higher today, which is bearish for gold prices, on optimism the UK Parliament on Saturday will pass the Brexit deal that UK Prime Minister Johnson struck with the EU on Thursday. Silver prices fell back on industrial metals demand concerns after today's data showed China Q3 GDP rose +6.0% y/y, weaker than expectations of +6.1% y/y and the slowest pace since the early 1990s. Losses in precious metals were limited on comments today from Dallas Fed President Kaplan that helped push the dollar index down to a 1-3/4 month low and suggest he is in favor of additional Fed interest rate cuts when he said "global growth is decelerating due to trade tensions and the U.S. is not im... Read more
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