Predictably, futures contract expiry is coinciding with precious metals weakness. But it ignores weakness in the dollar, likely to prompt further dollar selling in favour of gold.Another week of universal apathy. It is the end of the first half of 2025 with book squaring in mind, and the...
Read MoreThe shorts on Comex took the day off yesterday, being the Juneteenth National Independence Day. But their problems continue nevertheless…In European trade this morning, gold was $3350, down $85 from last Friday, while silver was $36.00, down 30 cents after a high of $37.31 on Tuesday. Yesterday...
Read MoreThe dollar’s trade weighted index just hit multi-year lows. To make things worse, Israel attacked Iran overnight, escalating ME tensions. Comex gold is waking up to the implicationsLast week, it was silver. This week it is gold. In European trade this morning, gold was $3416 having hit a high...
Read MoreFor some time, the behaviour of gold and silver prices has diverged, with silver’s underperformance since 2 April now correcting. This report looks at silver’s price drivers.This week, silver broke out into 12-year high ground on huge Comex volume, while gold with a firm undertone continued...
Read MoreWholesale market operators who rely on being able to roll leases on maturity face the prospect of having to buy back bullion which has simply vanished.In a week when the US Court of International Trade ruled that the constitution gave congress the power to levy tariffs and not the president,...
Read MoreIt’s the best of times for gold; the worst of times for dollars. Led by long-dated JGBs, global government bond markets are wobbling. We can see where this is going…This week saw moderately firmer prices for gold and silver following a near-four-week consolidation. In European trade this...
Read MorePerhaps global economic ills will be put on pause for the summer. But the entire investment world will be looking for the dip to buy the best performing asset of recent months — GOLDIn a continuing consolidation, gold and silver sold off this week. In European trading hours this morning, gold...
Read MoreAfter the post-liberation day volatility, all markets seek direction. However, the signs are that the negative trend for equities and bonds, and positive trend for PMs will continue in time.This week, consolidation has continued for gold and silver. In early European trading this morning, gold...
Read MoreGold consolidates its rise from mid-December. The May Day holiday in China and with much of Europe shut as well, was an opportunity for the Comex shorts to punish the longs.This morning marks the ninth trading session since gold briefly hit $3500. And yesterday saw a dramatic markdown...
Read MoreNot only has the US dollar embarked on a new bear market versus currencies, but the best way to play it is by selling dollars for gold. PBOC actions appear to confirm this view.After gold’s dramatic run to $3500 on Tuesday, gold has backed off on profit-taking. This morning in European trade...
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