Silver Jul '20 (SIN20)
Silver Futures Market News and Commentary
August gold (GCQ21) on Friday closed down -5.80 (-0.33%), and July silver (SIN21) closed up +0.113 (+0.44%).
Gold and silver prices on Friday settled mixed. A rally in the dollar index to a 2-month Friday and hawkish Fed comments were bearish for metals. On the positive side, a decline in T-note yields on Friday supported gains in metals, along with weakness in stocks that sparked some safe-haven demand for precious metals.
Lower global bond yields are bullish for precious metals. The 10-year T-note yield on Friday fell -5.6 bp to 1.448%. The 10-year German bund yield fell -0.5 bp at -0.200%, and the 10-year UK gilt yield is dropped -2.3 bp to 0.752%.
Stronger-than-expected global price pressures are positive for gold demand as an inflation hedge. German May PPI rose +1.5% m/m and +7.2% y/y, stronger than expectations of +0.7% m/m and +6.4% y/y. The +7.2% y/y gain was the largest year-on-year increase in 12-1/2 years. Also, Japan May national CPI ex-fresh fo... Read more
- Precious Metals Settle Mixed on Dollar Strength and Lower Global Bond Yields
August gold (GCQ21 ) on Friday closed down -5.80 (-0.33%), and July silver (SIN21 ) closed up +0.113 (+0.44%). Gold and silver prices on Friday settled...
- Gold: The Fed Wreaked Havoc on the Precious Metals
Gold declined yesterday, or I should say, it rushed down at breakneck speed. And while it might have been a surprise for some, it wasn’t for me.
- FOMC Sees Two Rate Hikes in 2023. Gold Didn’t Like It!
The newest Fed’s statement and dot-plot indicated a much more hawkish tone among the FOMC members than the markets expected, and gold dropped.
- Precious Metals Post Moderate Gains on Lower Global Bond Yields and Weakness in Stocks
August gold (GCQ21 ) this morning is up +4.00 (+0.23%), and July silver (SIN21 ) is up +0.249 (+0.91%). Gold and silver prices this morning are moderately...
- Gold Closes Sharply Lower at 6-Week Low after the FOMC Signaled a Faster Pace of Rate Hikes
August gold (GCQ21 ) on Thursday closed down -86.60 (-4.65%), and July silver (SIN21 ) closed down -1.956 (-7.03%). Gold and silver prices on Thursday...
- FOMC Surprise Takeaways
The Fed didn‘t play ostrich on inflation, but didn‘t take action either. While acknowledging that 2021 inflation would come at 3.4%, it hinted at 2...