A-Mark Bullion Update

6-20-2017 Two weeks ago, gold failed to break above the $1,300 handle for the second time this year.  It drifted lower and investors cut long positions as the FOMC approached last week.  The FOMC raised the fed funds target rate to 1.00% – 1.25% and the commentary suggested that interest rates will normalize faster than financial markets expected.  Gold traded lower in the wake of the FOMC and has trended down for the last four consecutive trading days.  Support is … Read More »

A-Mark Bullion Update

9.13.2016 The markets were a sea of red today with the Dow Jones falling over 250 points and closing below its 100 day moving average for the first time since late June.  A slump in crude oil and energy equities led the broader stock market and commodities complex lower.  Uncertainty concerning next week’s Federal Reserve monetary policy decision appears to be well-ingrained in the market’s mentality right now and participants are becoming increasingly risk averse.  Gold has traded lower for … Read More »

A-Mark Bullion Update

7.19.2016. Just as the market was about to close this past Friday, news broke out of a military coup in Turkey.  Gold immediately rallied $15 as geopolitical concerns over the NATO-member attracted bids to the safe haven allure of the yellow metal.  It became apparent fairly quickly over the weekend that the coup had failed though and the gold market opened on Sunday afternoon $6 lower than where it closed on Friday.  With US equities still showing strength and the … Read More »

A-Mark Bullion Update

5/26/2016. With the UK closed this coming Monday for a bank holiday and the US heading into a three day weekend for Memorial Day, the markets are likely to finish out this week quietly.  The USD has finally started to back off its recent highs with the USD index trading lower for the second day in a row.  This has not translated into a sustained rally in gold though, participants still view this as a “sell rally” type market right … Read More »

A-Mark Bullion Update

5.17.2016 .US equities started off hot today but quickly reversed course after the release of US economic data and commentary from a Federal Reserve official.  Consumer prices jumped the most in more than three years as CPI m/m came in at .40% versus economists’ estimates of .30%.  The rise in consumer prices, an indication of inflation picking up towards the Fed’s eventual goal of 2%, was largely attributed to gasoline prices surging the most in four years.  Atlanta Fed President … Read More »

A-Mark Bullion Update

May 10, 2016. US non-farm payrolls disappointed on Friday of last week, adding just 160,000 jobs in the month of April.  This was the worst figure since October of last year and well below the consensus estimate of 200,000.  Despite the economic release, the USD shrugged off the news and the USD index is now up for the sixth day in a row.  USD strength weighed on gold over the weekend and Asia entered the market as a seller on … Read More »

A-Mark Bullion Update

5/5/2016, After failing to close above psychological resistance at $1,300 for two days in a row, gold has now backed off the key level and has made lower lows for three consecutive days.  Besides the technical failure, weak physical demand and the USD gaining ground against a basket of currencies has spurred steady selling in gold this week.  The China Gold Association stated that Chinese gold consumption in the first quarter of 2016 fell 3.91% versus the same quarter last … Read More »

A-Mark Bullion Update

May 2,2016 With the UK and several other major markets out on holiday yesterday, gold cracked above the $1,300 psychological threshold for the first time in over a year.  The move took place in thin trading conditions and despite being predominantly technically driven, the yellow metal was also aided by an overall weak USD. Gold tested above $1,300 yet again today but was unable to sustain gains.  On the heels of positive US economic data, Federal Reserve President of Atlanta Dennis … Read More »

A-Mark Bullion Update

4.14.2016. After holding as support for five consecutive trading days last week, the 50 day moving average in gold finally gave up today. Gold topped out at $1,260 on Tuesday but sold off yesterday and has collapsed today more than $20.  Even yesterday’s geopolitical tension in the form of two Russian fighter jets exhibiting aggressive flight maneuvers near a US military vessel in the Baltic Sea was not enough to stem the selling pressure on gold.   The yellow metal was … Read More »

A-Mark Bullion Update

4/5/2016. Gold was looking vulnerable but managed to hold above its 50 day moving average for the third day in a row today.  Following consecutive down days, gold gained ground as equities floundered and turned further south.  Japan’s Nikkei hit a two month low which spurred physical demand in the broader Asian region.  While China exhibited an appetite for gold overnight, it is still worth noting that Indian demand is disappointing with data showing that February imports fell by a … Read More »