A-Mark Bullion Update

Yesterday, US home sales for the month of May came in better than expected and rose by 5.1% to 5.35 million units, the best figure since 2010.  Gold had already failed two days in a row at its 200 day moving average and the positive US homes data was reason enough for it to retreat 1.50% yesterday.  Greece is in the headlines yet again with a 48 hour extension being granted for the country from its creditors.  Greece needs a … Read More »

A-Mark Bullion Update

On the heels of the US Federal Reserve signaling that it will be even more cautious than expected in the shift towards monetary policy normalization, gold rallied to three week highs today.  Traders had positioned themselves on the short side of gold recently based on positive US data but they were caught off guard with yesterday’s FOMC statement.  Short covering was a clear aspect of gold’s positive price action today in which the yellow metal gained nearly 2%.  While the … Read More »

A-Mark Bullion Update

After three consecutive days of gains, gold took a breather today as the USD fought back against recent losses.  US Retail Sales m/m data increased by 1.2% in May while April figures were revised upwards by .2%.  Besides this positive USD news, there was also some discord in Europe related to Greece from earlier in the trading day.  The International Monetary Fund announced that it had left talks in Brussels over fundamental differences of opinion with Greece.  Greece, however, needs … Read More »

A-Mark Bullion Update

The markets were a sea of red today with equities and commodities alike succumbing to liquidation pressure.  Gold is at five week lows but managed to tread water above initial support at $1,170.  Improving economic conditions in Europe combined with anxiety over US nonfarm payrolls tomorrow had market participants trimming positions today.  The IMF urged the Federal Open Market Committee to hold off raising interest rates until the first half of 2016.  This should have been positive for gold but … Read More »

A-Mark Bullion Update

Greece is back in the headlines and there is optimism that Athens will accept a new proposal from creditors.   Eurozone inflation rose for the first time in six months while US factory orders unexpectedly fell in April.  The combination of these headlines has the euro up nearly 2% today, having moved solidly through previous resistance at 1.10.  Gold has had a disappointing reaction to the weaker USD today and is up a paltry $3.  After ultimately failing to hold above … Read More »

A-Mark Bullion Update

Yesterday’s Federal Open Market Committee minutes failed to cause a stir in the precious metals markets.  According to the minutes, most participants think it is unlikely that economic data in June will provide satisfactory evidence to raise the target range for the federal funds rate.  Notably, dollar strength may have a greater and longer lasting adverse effect on exports than previously anticipated.  Gold finished out the trading day after the minutes in the exact same way it started it, lethargically … Read More »