Silver Futures Market News and Commentary
Dec Comex gold (GCZ19) this morning is up +8.0 (+0.55%), and Dec silver (SIZ19) is up +0.168 (+1.01%).
Precious metals are higher this morning on weak stocks along with slack global price pressures that are dovish for world monetary policy.
Stocks prices are weaker today, which is boosting safe-haven demand for precious metals, after Tuesday's comments from President Trump raised uncertainty about a U.S./China trade deal. President Trump on Tuesday said "tariffs will be raised substantially" if a trade deal is not reached with China.
Global price data today was dovish for central bank policies and gold prices. The U.S. Oct core CPI rose by +2.3% y/y, slightly weaker than expectations of +2.4% y/y. Also, UK Oct CPI eased to a 2-3/4 year low of +1.5% y/y and was weaker than expectations of +1.6% y/y. Finally, the Japan Oct PPI of +1.1% m/m and -0.4% y/y was slightly weaker than expectations of +1.2% m/m and -0.3% y/y.
Fund liquidation of gold continues and... Read more