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Tag Archives: Platinum

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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Gold & Other Precious Metals Rally on Interest Rate Cut Anticipation

Gold rallied today after the US dollar weakened in anticipation of an interest rate cut from the Federal Reserve at the end of this month. Other precious metals joined the rally except for palladium. The Fed will make its monetary policy announcement on July 31. The CME FedWatch page shows that markets consider a rate cut basically guaranteed. Furthermore, markets price in about 70% chance of a 50 basis point...

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Video: Weekly Commodity Forecast – Gold, Platinum, Silver, Crude Oil for 8 – 12 July 2019

In the present video, Phil Carr from The Gold and Silver Club provides outlook for gold, platinum, silver, and crude oil for the week of July 8–12, 2019. He starts with discussing factors that were affecting commodity markets last week, specifically better-than-expected nonfarm payrolls, which led to significant losses for gold and other precious metals. Phil continues then with discussing charts of the commodities,...

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Gold Slumps on NFP, India’s Import Duty

Gold slumped today after the release of US nonfarm payrolls. Most other metals joined the decline, with the exception of palladium. US employers added 224,000 jobs in June versus the consensus forecast of 162,000. The report made the US dollar surge and speculators trim bets on interest rate cuts from the Federal Reserve. The CME FedWatch page was showing that markets no longer price in a 50 basis point cut this...

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Gold & Other Metals Rally on Prospects of Monetary Easing

Gold rose and other metals joined the rally today. The key reason for the rally were two nominations from US President Donald Trump for the vacant seats on the Federal Reserve Board. The  nominees are Christopher Waller, the executive vice president at the Federal Reserve Bank of St. Louis, and Judy Shelton, an economic adviser to the president during his 2016 campaign. It is expected that they will have...

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Metals Recover After Monday’s Slump

Gold and other metals were recovering after yesterday’s slump today. While the United States and China agreed not escalate the trade conflict further, may market participants are somewhat skeptical about chances of successful resolution of the disagreement between the countries. US President Donald Trump stoked concerns, saying that the trade deal with Beijing “has to be a deal that is somewhat tilted to our...

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Commodity Markets Act Confused Ahead of G20 Summit

Markets looked confused today, failing to find a clear trend. Crude oil was swinging between gains and losses. Most precious metals demonstrated losses, but palladium posted a sharp rally. Copper was falling initially but now is bouncing. The reason for such erratic behavior was the lack of clarity about the outcome of the Group of Twenty summit, specifically trade talks between the United States and China. On one...

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Metals Under Pressure as Dollar Firms

Metals were under pressure today as the US dollar firmed after comments of Federal Reserve officials. Not all metals logged losses, though, as platinum was flat and palladium managed to etch some gains. Comments from Fed members revealed that US policy makers were not as dovish as was previously thought and they are not planning to ease monetary policy aggressively. Metals, especially gold, tend to move opposite to interest rates,...

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