Category: Silver Price

Gold higher at 1286.08 (+4.77) Silver 17.02 (+0.02). Dollar lower. Euro higher. Stocks called higher. U.S. 10-year 2.36% (+1 bp).

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Gold easier at 1278.20 (-1.25). Silver 16.95 (unch). Dollar better. Euro lower. Stocks called mixed. U.S. 10-year 2.36% (+1 bp).

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Gold easier at 1292.16 (-1.67). Silver 17.21 (-0.10). Dollar lower. Euro higher. Stocks called better, U.S. 10-year 2.35% (+1 bp).

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Gold higher at 1283.16 (+3.66). Silver 17.10 (+0.004). Dollar steady. Euro better. Stocks called mixed. U.S. 10-year 2.37% (-1 bp).

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Gold steady at 1280.28 (+0.72). Silver 17.11 (+0.078). Dollar steady. Euro easier. Stocks called higher. U.S. 10-year 2.35% (+3 bps).

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Gold higher at 1287.06 (+6.06). Silver 17.18 (+0.136). Dollar lower. Euro higher. Stocks called lower. U.S. 10-year 2.33% (-4 bps).

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Gold lower at 1274,51 (-3.60). Silver 16.99 (-0.049). Dollar lower. Euro higher. Stocks called lower. U.S. 10-year 2.39% (-2 bps).

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Gold better at 1277.23 (+1.58). Silver 16.89 (+0.038). Dollar lower. Euro higher. Stocks called lower. U.S. 10-year 2.38% (-2 bps).

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Gold easier at 1285.00 (-1.30). Silver 17.05 (+0.045). Dollar steady. Euro better. Stocks called lower. U.S. 10-year 2.37% (+2 bps).

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Gold And Silver: Something Different Is Occurring


GoldSeek/Dave Kranzler/11-08-17

…Something different – at least for now – is going on. Maybe it’s related to smart, big money knowing that the world is on the cusp of rampant, uncontrollable price inflation after the unprecedented money supply inflation of the last 9 years. And, in reality, the money supply inflation began with Greenspan in the late 1980s/early 1990’s. The U.S. money printing has been going on since Nixon closed the gold window and it went semi-Weimar in 2008-2014. The U.S. exported its inflation with the strong dollar policy and reserve status of the dollar. That has changed. The BoJ and the Peoples Bank of China have been printing money the last few years like a meth addicts on steroids. The ECB is a close third.

This monetary inflation was contained when it was just the Fed and maybe the BoJ printing in volume. Now the world is drowning in printed fiat currencies of every flavor. Price inflation is on the cusp of breaking out furiously in all currencies. This will translate into a furious break-out in the price of commodities, especially physically deliverable gold and silver bullion.

PG View: Something does indeed feel different: The price of gold has been quite resilient heading into year-end, despite very high December rate hike expectations, a stronger dollar and a stock market that continues to plumb record highs.

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Morning Snapshot: Gold Edges Higher to Another 3-Week High

USAGOLD/Peter Grant/11-09-17

Gold is up modestly in early U.S. trading, buoyed by a weaker dollar and a drop in stocks. The yellow metal has set a new 3-week high at 1288.19. Silver remains narrowly confined within the recent range, trading just above $17.

The next minor tier of resistance for gold is at 1291.08. A breach of this level would bode well for further tests above $1300.

Initial jobless claims for last week were higher than expected. Later today we’ll see September wholesale sales. There will also be a $15 bln 30-year bond auction.

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Gold higher at 1286.61 (+4.46). Silver 17.12 (+0.042). Dollar lower. Euro higher. Stocks called lower. U.S. 10-year 2.33% (unch).

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Morning Snapshot: Gold and Silver Firmer Within Recent Ranges

USAGOLD/Peter Grant/11-08-17

Gold is higher in early U.S. trading, probing the high end of the range within the range within the range. That first tier of resistance is marked by last week’s high at 1284.20. Above that, 1306.04 and 1357.50 define the high ends of the broader ranges. The low end of the ranges are well defined at 1263.00/1260.10

Silver is higher, trading just above $17. Resistances to watch are at 17.26 and 17.47. The latter is likely a trigger for a push back above $18.

Today’s calendar is very light with only EIA crude data from last week. There is a $23 bln 10-year note auction as well.

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Gold higher at 1281.41 (+3.63). Silver 17.06 (+0.063). Dollar steady. Euro easier. Stocks called mixed. U.S. 10-year 2.31% (-1 bp).

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Morning Snapshot: Gold Ease Slightly Within Range

USAGOLD/Peter Grant/11-07-17

Gold is slightly lower today after yesterday’s late surge stalled shy of last week’s high at 1284.20. A breach of this level is needed to clear the way for renewed probes above $1300.

Continued dollar strength is helping to keep gold in check. The dollar index edged to a new 15-week high in overseas trading. Risk aversion associated with the Saudi corruption crackdown and President Trump’s trip to Asia are seen as underpinning the precious metals.

Silver gave back more than half of yesterday’s solid intraday gains overseas, but is back trading above $17 presently. The mid-October high at 17.41 is seen as key short-term resistance. Supports we’re watching at at 16.59 and 16.30.

Today’s economic calendar has JOLTs job openings for September, IBD/TIPP Economic Optimism Index and consumer credit. We’ll also hear FedSpeak from Janet Yellen and vice-chair Quarles.

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Gold easier at 1277.47 (-2.79). Silver 17.07 (-0.104). Dollar higher. Euro lower. Stocks called mixed. U.S. 10-year 2.32% (+1 bp).

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Gold surges, presently up about 1% at 1282.00. Move seems independent with dollar, stocks, yields little changed. Silver +2.3% at 17.21.

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Morning Snapshot: Gold Up Slightly to Start the Week

USAGOLD/Peter Grant/11-06-17

Gold is up slightly to start the week, but still well contained within the recent range. The dollar index edged to a new 15-week high of 95.08, and this strength continues to limit the upside for the yellow metal.

Lower U.S. yields and mixed stocks suggest a tempering of risk appetite. That is seen as supportive to the precious metals.

Silver is consolidating at the low end of Friday’s range after failing to sustain last week’s push back above $17. The low end of the broader range remains well protected at $16.30.

The U.S. calendar is very light today, but we will hear Fed Speak from NY Fed President William Dudley. The press is reporting that Dudley will announce his early retirement as soon as today. Outgoing Fed Chair Yellen speaks tomorrow.

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Gold better at 1272.01 (+2.23). Silver 16.91 (+0.076). Dollar firm. Euro lower. Stocks called mixed. U.S. 10-year 2.32% (-2 bps).

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Gold and silver retreat into their respective ranges as dollar firms after solid factory orders and services ISM offset the NFP miss.

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Morning Snapshot: Gold Edges Up Within Range Following NFP Miss

USAGOLD/Peter Grant/11-03-17

Gold is up slightly this morning, nonplussed by the NFP miss and still locked within the recent range. The dollar index remains narrowly confined as well near its 3-month highs, which is helping to limit the upside for the yellow metal. Silver is up as well, maintaining recent gains above $17.00.

U.S. nonfarm payrolls rose 261k in October, below expectations of +318k and whispers in the neighborhood of +400k. As I said in commentary yesterday, forecasters set a pretty high bar, creating the risk for disappointment. September NFP was revised higher from -33k to +18k, so at least the negative print is off the books. The unemployment rate ticked down to 4.065%.

So after a terrible number in September and a smaller than expected post-Hurricane rebound in October, how is it that the jobless rate ticked lower? Zerohedge explains:

…the number of people who exited the labor force soared by a near record 968,000 in October – the third highest on record – pushing the total number of people not in the labor force to a record 95.385 million, as the civilian labor force shrunk by whopping 765,000 in one month. — Zerohedge

Average hourly earnings came in unchanged for October, below expectations of +0.2%. The annualized rate of wage growth slowed to 2.4%.

Some are claiming this should be attributed to hurricane disruptions, but the chart presented by Bloomberg suggests that wage growth was meeting resistance ahead of 3% long before this hurricane season. This is something the Fed is likely to be watching very closely going into year-end, because if already tepid wage growth has stalled, it does not bode well for the inflation pressures that Fed keeps contending are just around the corner.

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Gold lower 1274.36 (-3.40). Silver 17.10 (-0.066). Dollar and euro steady. Stocks called higher. U.S. 10-year 2.34% (unch).

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