A-Mark’s Bullion Update

Yesterday’s Federal Open Market Committee did not do many favors for the precious metals.  The hawkish commentary by the Federal Reserve included the declaration that asset purchases and quantitative easing will cease at the end of October.  While this wasn’t a surprise, it was strong enough wording to rattle the markets and open the doorway for new policy moving forward.   The Fed upgraded its assessment of the job market’s performance while indicating that short-term interest rates will remain near zero … Read More »

A-Mark’s Bullion Update

After four consecutive down days, gold is pressing slightly higher today.  In the overnight session, Asian buyers came in and lifted gold ahead of the $1,220 support area.  Data on Monday showed that Hong Kong gold imports jumped to a six month high in September as China stocked up ahead of its National Day holiday.  As the trading day moved into the NY session, the yellow metal received another boost from US Durable Orders figures. US Durable Orders fell for … Read More »

A-Mark Bullion Update

The Dow Jones is up 260 points and is trading decisively above its 200 day moving average for the first time since October 10th.  This, combined with a stronger USD, has gold and silver on the defensive today and off their recent highs.  Gold faked out day traders by closing above its 50 day moving average and the double top of resistance at $1,250 two days ago.  Normally a technical buy signal, gold instead is trading lower for the second … Read More »

A-Mark’s Bullion Update

After a wild last week for basically every market except the precious metals, the climate has calmed down substantially this week so far.  The Vix volatility index has halved since it traded over 31 last Wednesday.  Equities have found their footing and the Dow is on track for its third day of consecutive gains after forming a base at 16,000.  There is an overall risk-on sentiment and gold continues to press higher, even bucking its normal inverse correlation to stocks … Read More »

Precious Metals And Financial News 10-10-2014

Gold rose to a two-week high on Thursday as U.S. equities fell, a day after minutes of the latest U.S. Federal Reserve policy meeting prompted investors to push back their expectations for the timing of a Fed interest rate rise. [Read More On Fox News.]     Why A Gold Standard Does NotImply Price Stability. Going back to the gold standard quotes and conversations about tying the dollar back to gold. A nice chart on the price of gold over … Read More »

A-Mark’s Bullion Update

Gold was trading lethargically yesterday until the US Federal Reserve policy meeting prompted investors to push back their expectations for the timing of a Fed interest rate rise.  The Fed specifically mentioned the strength of the USD in its September meeting minutes and equities and gold both shot up.  Today, stocks have given up all of yesterday’s gains and the Dow is once again approaching its 200 day moving average at 16,590.  The sell off today is in part due … Read More »

A-Mark’s Bullion Update

With the USD index and US equities selling off, gold has been given a bit of a breather and is up marginally on the day.  In the overnight session, it traded down to psychological support at $1,200 before speculative profit taking and Asian physical buyers lifted it off its lows.  Overall, speculators are still on the bearish side of the precious metals with the latest commitment of traders showing that spec positions in gold are at their lowest level since … Read More »

A-Mark’s Bullion Update

Gold and silver had a rare up day yesterday with the US 10 year Treasury yield moving lower by about 10 basis points to 2.40%.  The rally for the precious metals was short lived though as all four are in negative territory once again today.  The USD has rallied from its lows in Asia in the overnight session which has put pressure once again on gold.  In the early NY trading day, data was released showing that US jobless claims unexpectedly … Read More »