Gold prices plunged immediately upon opening Monday morning in Australia. This in response to a perceived favorable outcome of the one-on-one talks between presidents Trump and Xi Jinping at the G 20 meetings held in Osaka Japan. The keyword was “truce”, with both sides agreeing not to invoke further escalation of the trade war between our two superpowers. In essence the net result was that both countries pledged to once again begin to trade negotiations at a later date.
As of 4:30 PM EDT gold futures basis the most active August contract is currently at $1386.20, a net decline of $27.50 on... Read more
As traders and market participants await news from Saturday’s one-on-one meeting between President Donald Trump and Chinese President Xi Jinping, the precious metals markets are so quiet that you can hear a pin drop. This face-to-face meeting between the leaders of the two superpowers is so important that US equities as well as the precious metals are trading in a narrow and defined range with little action prior to this weekend’s meeting.
As of 5:00 PM EDT gold futures basis the most active April contract is currently trading up $0.30 at $1412.30. Although the last two trading days have been... Read more
As the two presidents of the United States and China prepare for their one on one talks at the G-20 meeting later on Saturday in Osaka Japan, it seems both sides have begun to posture their negotiations with a war of words emerging from both camps.
Prior to Saturday’s meeting between the leaders of the two superpowers both President Trump and Chinese President Xi have begun a war of words with recent statements conveying a willingness and desire to resolve the current issues, with caveats on both sides indicating necessary components needed to bring the two countries closer to a resolution.... Read more
After reaching a new high for 2019 yesterday gold prices have retreated as traders and investors take profits and await any news from the upcoming G-20 meeting. Gold futures basis the most active August contract traded to a high above $1440 yesterday before trading lower and closing fractionally lower on the day. This was followed by today’s trading in which market participants took gold futures to a low of $1405 before hitting the price higher off of those lows.
As of 4:44 PM EDT gold futures are currently bid at $1412.90 which is a net decline of $5.80 on the day. Dollar strength provided... Read more