Previous Reports

Daily Report: Tue, 06/25/2019 - 18:16

Gold futures once again have traded to a higher high, higher low and higher close than the previous day. As of 4:30 PM EDT the most active August futures contract is currently fixed at $1426.20, which is a net gain of $8.00 on the day. In fact, gold traded to an intraday high of $1442.90, before giving back some net gains in reaction to statements made by Fed Chairman Jerome Powell today at the Council on Foreign Relations.

According to MarketWatch, “Federal Reserve Chairman Jerome Powell on Tuesday suggested that an interest-rate cut in July, widely expected by investors and economists, is... Read more

Daily Report: Mon, 06/24/2019 - 18:36

Gold continues the dynamic rally which is been in play for just about a month, with today’s gains of $24.00 taking the precious yellow metal to $1424.10, a net increase of +1.71%. Although dollar weakness provided a tailwind to the rising precious metals prices, the effect of dollar weakness was marginal at best.

We can see that both in the futures as well as the spot markets. August futures for example gained 1.71%, as the dollar index dropped by 0.23%, meaning that approximately 1.5% of the 1.71% gain today was directly attributed to buyers. Physical gold is currently fixed at $1420.30,... Read more

Weekly Report: Fri, 06/21/2019 - 17:45

Trading to a high of $1415.40 in intraday trading today, gold futures basis the most active August contract not only traded to a new record high for this year, but closed above $1400 per ounce. As of 4:10 PM EDT August futures are currently fixed up $6.00 at $1402.90. That is a net increase of +0.42%. While there are many underlying fundamental factors one of the largest influences recently has been a weakening U.S. dollar.

Today the dollar index is off by almost 0.5% and fixed at 95.705. So as far as the futures markets are concerned dollar weakness is absolutely the primary cause of today’s... Read more

Daily Report: Thu, 06/20/2019 - 17:56

If the majority of market analysts are correct, when they proclaimed that investors and traders have been factoring in a series of rate cuts by Federal Reserve, along with rate cuts by other global central banks, then why did gold rise by almost $45 today?

Yesterday the Federal Reserve announced that it would keep fed funds rates where they are, but changed their language in reference to future actions. They took out the word “patient” to describe their willingness to be data dependent, as they added “uncertainty” to describe the current economic scenario that they are dealing with.

... Read more