A-Mark Bullion Update

6.7.2016. Friday’s US non-farm payroll figure came in significantly worse than expected with employers adding the fewest number of workers in almost six years during the month of May.  The USD tanked and gold skyrocketed as the markets pushed back expectations of a Federal Reserve rate hike in June.  Gold was already on tenuous ground after trending lower all of May and the poor payroll figure was the catalyst it needed to catch bids.  It rallied all the way up … Read More »

A-Mark Bullion Update

5.19.2016. Prior to the FOMC statement yesterday, gold was already on shaky ground as it continually tested support ($1,268 at the time) on a trendline dating back to the beginning of the year.  Post FOMC, gold was unable to maintain its footing above this area and the yellow metal completely broke down.  The Fed minutes rattled markets that had, until recently, all but ruled out the possibility of a US interest rate rise in June.   Fed officials stated that a … 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

April 29, 2016. Yesterday, the Federal Reserve maintained the status quo on its key interest rates for the third time this year. The Fed’s monetary policy stance remains accommodative with the goal being further improvements in the labor market and a return to 2% inflation. After gold’s typical volatile jitters immediately following the FOMC, the yellow metal calmed down leading into the Asian time zones. In the overnight session, gold was trending lower until the Bank of Japan surprised the … Read More »

A-Mark Bullion Update

April 27. 2016. Gold came into the US session today feeling heavy and looking like it would break below support at $1,230, the fourth point on a trendline dating back to mid-January.  It was given a lifeline by weaker than expected US economic data and was able to catch bids to reverse its course though.  US durable goods disappointed, coming in at .80% for the month of March versus the consensus of 1.9% by economists.  The USD fell to session … 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

Gold’s run up on Tuesday following the Belgian terrorist attacks was short-lived.  Safe haven bids vanished as Tuesday’s trading session moved later into the US time zones with gold retreating into the mid-$1,240s to close the day.  The markets have acclimatized to these types of terrorist incidents and with each passing one, it appears that the longevity of gold’s immediate upwards reaction becomes increasingly brief.  The USD has five days of consecutive gains against the euro which has contributed to … Read More »