August 16, 2019

Gold and silver both dipped from their multi-year highs that were reached earlier this week as stocks continue to rebound from one of their worst weeks of 2019 on renewed stimulus hopes from several central banks.  Even with the decline, gold is still set to end the week up over 1%.

August 14, 2019

Gold and silver both rebounded from yesterday’s dip as the 10 year and 2 year treasury yields inverted for the first time since 2005, which has historically been a precursor to a recession.  Gold is up nearly 2% from yesterday’s low and equities are plunging as recession fears grow. 

August 12, 2019

Gold and silver both climbed today amid ongoing tension between the US and China.  The Chinese Central Bank set its currency slightly above the 7:1 ratio the US deems appropriate, leading to continued worries of currency devaluation.  Stocks are down to begin the week with the Dow, S&P 500, and the Nasdaq all trading about 1% in the red. 

August 9, 2019

Gold is teetering around $1,500 today after rising 3.4% this week on renewed trade war fears and weak earnings from Wallstreet.  Silver spent most of the day right under $17.00 after rising as high as $17.25 earlier this week.  Stocks are set to end the week down, but have recovered significantly from their Wednesday lows.

August 07, 2019

Equity markets continue to get slammed as weak earnings and ongoing strife with China are causing investors to jump ship in search of safer investments.  The sell-off has sent metals soaring and bond yields falling to a three-year low.  Gold and silver are currently trading at $1,506.40 and $17.07 respectively.

 

August 05, 2019

Gold is currently trading at $1,464.00, its highest level since March 2013, after China devalued its currency leading US-China relations to a new low during the trade war.  Equities are plummeting on the news, both globally and domestically.  The Dow, S&P 500, and Nasdaq are all down at least 2% midday with the Nasdaq getting hit hardest at 2.75%.      

August 2, 2019

Gold is holding steady above $1,440 after rebounding yesterday amid increasing trade tension with China.  After sharply dropping Wednesday during Jerome Powell’s less dovish than expected press conference, President Trump’s statement regarding new Chinese tariffs caused equities to plunge and gold to soar.  The Dow is currently down nearly 2.8% from this week’s high, and on course for its second worst week of 2019. 

July 31, 2019

Gold is down slightly, currently trading at $1,424.40, after getting a boost yesterday when the Bank of Japan announced it would hold rates but promised future easing if economic conditions worsened.  Now, investors are looking to the Fed which is expected to cut rates by 25 basis points.  U.S. equity markets are trading relatively flat ahead of the Fed’s decision.

July 29, 2019

Gold and silver are trading at $1,420.00 and $16.40 respectively,  as much of the volatility seen in recent weeks has subsided ahead of a big week for economic news.  The Bank of Japan is set to release its monetary policy on Tuesday, then the Fed will release its decision on Wednesday.  Key manufacturing and employment data are also due out later in the week. Stocks are mixed midday with the Dow up about 0.22% and the Nasdaq down about 0.55%.

July 26, 2019

Gold is currently up $3.60 at $1,418.00 as it tries to find direction amid divergent economic data. The ECB held interest rates steady but promised future easing due to slowing growth. Meanwhile, the Fed is expected to cut rates next week, but positive economic data yesterday and today may influence the extent of the cut.  Jobless claims, durable goods orders, and Q2 GDP all beat estimates. The U.S. dollar is trading at a 2-month high even as the Fed is likely to cut interest rates for the first time in over a decade next week.