A-Mark Bullion Update

7.20.2017   The euro has been on a steady rise so far in 2017 and it reached yearly highs today on the heels of the European Central Bank press conference.  ECB President Mario Draghi said the bank saw signs of “unquestionable improvement” in European Union growth and intimated that plans are underway for policymakers to begin adjusting their quantitative easing program. The euro rallied to over 1.16 and dragged gold back over $1,240 with it. Gold hasn’t seemed to really … Read More »

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 »

US Gold Exports Are Up Huge. Where Is All The US Gold Going?

US Gold Exports

The United States has gold mines. The United States also imports tons of gold every year. The US Treasury says that the US has vaults full of gold. Yet, the government routinely leases and sells gold. In a way, the gold markets of today are much like the shell and pea con-game of old. There are numerous gold trades every day, but who really has the gold? Recently, Goldseek.com published an article written by Steve St. Angelo of SRSrocco Report, … Read More »

A-Mark Bullion Update

On Friday, US non-farm job growth for the month of May came in much weaker than expected at 138,000 jobs added, widely missing the consensus of 181,000.  The USD sold off and gold, which had been stalling, closed out the week at five week highs.  The lackluster jobs data has made participants reassess the Fed’s policy for the remainder of the year.  With the likelihood of a September rate hike easing, President Trump dealing with potential legal issues, and geopolitical … Read More »

A-Mark Bullion Update

5-23-2017 Two weeks ago market participants were convinced that gold would sink down to the $1,200 handle.  That sentiment has quickly shifted with the euro marching higher and with headlines including a possible impeachment of President Trump, another North Korean ballistic missile test over the weekend, and an ISIS terrorist incident at a concert in London last night.  Gold is now in a higher range yet again with the 200 day moving average providing support on dips and a triple … Read More »

A-Mark Bullion Update

5.9.2017 On Sunday night, the market’s breathed a sigh of relief as Emmanuel Macron easily beat the right-wing populist and nationalist candidate Marine Le Pen in the French presidential election.  With Japan returning from Golden week to find much lower gold prices, gold received an initial bump up on Sunday evening trading.  The pop higher was short lived though as the Macron victory encouraged broader market selling.  Geopolitical tensions, in general, have subsided substantially in the last few weeks (especially … Read More »

A-Mark Bullion Update

Over the weekend, France’s presidential election narrowed down to two candidates in Emmanuel Macron and Marine Le Pen.  Macron is ahead of Le Pen in election polls heading into next month’s presidential election and his agenda is considered to be market friendly, including labor market reforms as well as cutting excessive public spending.  Macron’s current position in the election, the avoidance of a nightmare run off between Le Pen and Melenchon, and North Korea failing to launch a nuclear missile … Read More »

A-Mark Bullion Update

Escalating tensions with North Korea have kept gold buoyant and hovering right under the highs of 2017 thus far. On Sunday, North Korea attempted a missile launch (non-nuclear) but it failed “almost immediately” according to South Korean and US military officials. The launch took place just hours before US Vice President Pence arrived in South Korea for a visit. Also, satellite images suggest that North Korea is ready and willing to carry out another nuclear test. This information comes just … Read More »

A-Mark Bullion Update

Various headlines concerning geopolitical uncertainties have resulted in volatile price action for gold since Thursday of last week.  The US’ surprise attack on a Syrian airbase last Thursday night gave gold immediate legs and allowed it to make 6 months highs.  In response to the use of chemical weapons on civilians, US President Trump authorized a military strike which destroyed a fifth of Syrian President Assad’s working warplanes.  The day following the strike, gold lost all of its gains as … Read More »

A-Mark Bullion Update

3.29.2017 Since the beginning of March, US equities have been on a steady decline but the selling pressure waned over the past two days.  The Dow held its 50 day moving average yesterday and rallied 150 points today.  The Dow’s losses over the past month eventually translated into increased risk appetite and safe haven buying for gold.  The yellow metal has made stable gains since holding the $1,200 area in mid-March.  US equities upwards price action today caused gold to … Read More »