December 11, 2019

Gold and silver are both trading at weekly highs, currently $1,471.30 and $16.82 respectively,  ahead of today’s FOMC meeting conclusion.  Rates are expected to remain unchanged but Fed Chair Powell’s press conference and the Fed’s outlook for 2020 could stir markets a bit.  Palladium is having a record-breaking week and is now trading above $1900.00 as supply concerns out of South Africa continue to push it higher.  The US dollar and stocks are relatively flat heading into this afternoon.

December 09, 2019

Both equities and metals are relatively quiet to begin the week with gold and silver trading flat and stocks down marginally.  This week’s FOMC meeting will provide some insight into future monetary policy but will unlikely shake up markets like they have in the past this year, as the likelihood of an additional rate cut is near zero.  US-China relations will remain in focus as markets digest any new trade revelations ahead of Sunday’s tariff deadline.

December 06, 2019

Gold and silver are currently down 1.1% and 2.5% respectively, on pace for one of their worst days in recent months after the US jobs report shattered expectations.  In November, 266,000 jobs were added (vs. 180,000 expected) and unemployment dropped to 3.5%, a 50-year low (vs. remaining at 3.6% expected).  Equities are surging today after the report was released, with the  Dow, Nasdaq, and S&P 500 all up over one percent.

 

 

December 04, 2019

Gold and silver continued their recent surge this morning in early trading after yesterday’s comments from President Trump about delaying a trade deal until after the 2020 election sent metals soaring and equities sliding. Later this morning, however, reports that an initial trade deal may be likely much sooner,  reversed Tuesday’s market moves sending gold and silver falling, currently down $5.10 and $0.33 from yesterday’s settlement prices. Stocks are up significantly on the news, trying to break a three-day losing streak.  The past two days once again illustrated how volatile markets have become as a result of ongoing trade tension.

December 2, 2019

Gold and silver are currently trading at $1,464 and $16.92, down slightly from last week’s highs reached after President Trump signed a bill supporting Hong Kong protestors, further increasing trade tension between the US and China. Equities begin the week in the red as well after weak manufacturing data missed estimates and showed the US is in its fourth consecutive month of contraction. The Nasdaq is currently down 0.90% and the Dow and S&P 500 are each down around 0.60%. 

November 27, 2019

Stocks are up across the board and on pace for their best month since June after unexpected positive economic data helped fuel the S&P 500, Nasdaq, and Dow to new records.  Durable goods orders came in at 0.6% (vs. -0.9% expected) and weekly jobless claims were 213,000 (vs. 221,000 expected).  Q3 GDP was also revised upward to 2.1%.  Gold and silver are down as safe haven assets are losing some appeal to equities on this data.

November 25, 2019

Gold and silver continue their downward trend as equities begin a shortened trading week up across the board.  Gold is currently trading at a two-week low as the US and China appear to be heading in the right direction towards some form of a resolution. China announced it will enact tougher penalties against IP violations, which is an aspect that had been somewhat overlooked in initial trade negotiations.  The S&P 500 and the Nasdaq each hit new record highs today with the Dow not far behind, currently up 138 points.

November 22, 2019

Gold is down slightly after a relatively involatile week for markets as equities are trying to snap a three-day losing streak.  Trade war uncertainty continues to weigh on investors as relations between the US and China are seemingly becoming more unpredictable.  The OECD warned yesterday that global GDP will likely drop to 2.9% for 2019 and remain stagnant for the next few years, contributing much of the decline to the US and China.

November 20, 2019

Gold and silver dipped earlier but have since rebounded on increased trade tension between the US and China.  Concern that phase one of a trade deal will not be completed in 2019 coupled with China’s response to the US Senate unanimously passing a bill supporting Hong Kong protesters suggests that relations are deteriorating.  Equities dropped significantly on the news, with the Dow and S&P 500 both down about 0.90%.

November 18, 2019

Gold and silver are up slightly to begin the week as the WTO warned today that global trade is likely to remain sluggish in Q4, fueled by rising tariffs and increasing uncertainty between the US and China.  Investors continue to receive mixed signals regarding the progress of a trade deal which has equities trading virtually flat.