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Tag Archives: Platinum

Precious Metals Retreat Ahead of FOMC

Precious metals retreated today following yesterday’s rally, most likely due to profit-taking. Metals rallied yesterday on the news about an attack on Saudi oil facilities. Precious metals often rally on news about geopolitical tensions because investors use them as a safe haven. Uncertainty about the Brexit was also contributing to safe-haven demand. Now, traders wait for the monetary policy meeting...

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Metals Rally Ahead of ECB

Gold rose today, and other precious metals joined the rally. Market experts speculated that the rally was just a result of short-covering ahead of the European Central Bank monetary policy meeting later today. Market participants expect the ECB to make its policy more accommodative, a move that will likely boost the US dollar. And that is not a good outlook for metals priced in the greenback. At the same...

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Commodity Tracker: 6 charts to watch this week

Globalization of natural gas markets, OPEC’s struggle to balance oil supply and price, and platinum coming to the fore as an investment vehicle are all covered in this week’s selection of essential charts from S&P Global Platts editors. 1. Global gas price differentials keep tightening…   What’s happening? Gas spot prices across regions have converged in recent weeks due to the continued gas glut in an increasingly globalized gas market, with surplus LNG cargoes...

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Gold & Other Precious Metals Sink on US-China Trade Talks, Copper Rallies

Gold tanked today. Other precious metals joined the decline, showing significant losses as well. Palladium was an exception, managing to carve out reasonable gains. The major piece of news today was the report that the United States and China are going to resume their trade negotiations. While no specific date was set, sources talked about “early October”. That was enough to make traders seek higher-yielding risky assets,...

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Metals Rally as Traders Wait for Fed Rate Cut in September

Gold and, to a lesser extent, other precious metals are considered to be safe assets, meaning that traders buy them in times of fear and uncertainty. And with the market sentiment being positive today, one could expect industrial metals, like copper, to rally and precious metals to fall. But while copper did indeed rally, gold managed to hold ground, while other precious metals even logged substantial gains. Market analysts...

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Recession Fears Drive Precious Metals Up

Gold rallied today, and other precious metals joined the rally, with silver being the biggest victor. Market analysts speculated that the reason for the rally was fear of a global economic recession, which prompted investors to seek a safe haven. The dreaded yield curve inversion remained in place after the prolonged weekend in the United States ended. Experts point out that inversions of the yield spread...

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Monthly Macro Monitor: Market Indicators Review

This is a companion piece to last week’s Monthly Macro report found here. The Treasury market continues to price in lower nominal and real growth. The stress, the urgency, I see in some of these markets is certainly concerning and consistent with what we have seen in the past at the onset of recession. The move in Treasuries is by some measures, as extreme as the fall of 2008 when we were in a full blown panic. That to me, is evidence that this move is overly emotional since the...

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Gold & Silver Remains Under Pressure from FOMC Minutes

Gold and silver extended yesterday’s decline today. Copper joined the decline but platinum and palladium managed to rally. Markets continued to digest the monetary policy meeting minutes released by the Federal Open Market Committee yesterday. Traders were hoping to see signs that the FOMC plans aggressive monetary easing. Instead, the minutes showed that the interest rate cut in July was “mid-cycle...

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Precious Metals Under Pressure After FOMC Minutes

Precious metals were under pressure today after the monetary policy minutes released by the Federal Open Market Committee today. The US dollar gained after the release. Consequently, dollar-priced commodities came under pressure. Prices for gold, silver, and palladium declined but platinum managed to avoid losses. The FOMC released minutes of its July policy meeting at which the range for the federal funds rate was lowered...

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Precious Metals Under Pressure from Positive Market Sentiment

Gold fell about 1% today. Silver and platinum fell as well but palladium managed to gain. Copper rose too. Today’s market sentiment was favorable to riskier assets, not safer ones. The delay of US tariffs on Chinese imports and sanctions against Huawei made investors bolder and more willing to risk, buying assets with high risk and high return instead of safe ones. Precious metals, especially gold, are often used...

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