Monthly Summary
September 2018

Precious metals started to gain momentum in September with gold spending most of the month in the green before ultimately falling to finish down 0.70%.  Silver fared better, finishing the month up 1.2%. Platinum and Palladium performed very well in September, gaining 4.0% and 10.5% respectively. Palladium finished at its highest level since January—over $1,080.00 an ounce.

Gold spent the first part of September relatively stagnant connected to the US dollar, which was also less volatile than it had been in recent months.  CPI data released on September 13 showed that consumer prices didn’t increase to expected levels, lessening concerns about inflation.  The news initially helped gold rise to its two-week high as the dollar fell amid the potential for a reduced interest rate hike later this year.  The dollar quickly recovered and gold retreated to the sub-$1,200.00 range.  Silver responded even worse, dropping close to the $14.00 threshold and hitting its lowest level since January 2016.

The following week, gold got a boost as US-China trade tensions reached a new high.  The US imposed new tariffs on $200 billion in Chinese goods and China responded with their own tariffs and refusing to agree to a meeting to continue trade negotiations.  The dollar dropped, and gold rose to the $1,210.00 range, its highest level of the month.

The Fed raised interest rates in late September, causing the US dollar to rise over 1% in two days and gold to plummet to 6-week low of $1,183.00.   Gold did begin to rebound as the US dollar began to cool down after the Fed’s decision to raise rates, but ultimately finished the month at $1,192.00.  

Historical Trends & Pricing

Commentaries

October 17, 2018

Gold is up $0.40 this morning, trading at $1,228.00, and is now up 3.5% since last Wednesday, its best weekly performance since December 2017. Stock futures are down across the board after posting their best-single day performance since March, with the Dow and S&P 500 rising 2.2% each.

October 12, 2018

Gold remains steady at the $1,220.00 range after rising nearly 3% yesterday to close at its highest level since late July.  The Dow and S&P 500 both dropped more than 5% in the past three days giving stocks their worst performance since February.  Gold’s appeal as a safe-haven investment resurfaced during this massive selloff, wiping away weeks of losses in a single day.

October 10, 2018

Gold is up $1.00, currently trading at $1,189.10 after falling stocks helped expunge the metal’s earlier losses today.  Gold slipped this morning, dropping to $1,185 as rising bond yields continue to put pressure on metals. Falling stocks helped boost gold, however, putting its price in the green as the Dow and Nasdaq are down 1.3% and 2.0% respectively—their lowest levels in several months.

October 08, 2018

Gold is down $15.70, currently trading at $1,186.50, slipping to its lowest level in over a week amid a strengthening dollar and rising treasury yields. The US dollar rose today as ongoing issues regarding Italy’s budget deficit disrupted the Euro and Chinese stocks continue to decline.  Treasury yields continue to pressure gold as well, remaining at their highest levels since 2011.

October 05, 2018

Gold is up $4.30 this morning, currently trading at $1,202.10, as today’s jobs report showed mixed data and had little effect on precious metals.  Only 134,000 jobs were created versus an expected 185,000, however, unemployment dropped to 3.7%, the lowest level in nearly 50 years. Overall, gold is holding up nicely to low unemployment and rising bond yields, which are at an eight-year high.

October 03, 2018

Gold remains flat around $1,203.00 this morning after gaining about 1.3% yesterday—one of its best single day performances in recent months.  Gold, the dollar, and US stocks all rose yesterday as Italy’s debt crisis took center-stage causing a dip in the Euro.  Today’s US jobs report also put downward pressure on gold as 230,000 jobs were created in September versus 185,000 expected. 

October 1, 2018

Gold is down today, currently trading at $1,188.60, as the dollar continues to climb—now hitting its highest level in three weeks. The Mexican peso and Canadian dollar also rose today amid a new NAFTA deal that includes Canada, helping to alleviate trade tensions in the region.  The new deal was received well on Wall Street, with major stock indices up across the board.

September 26, 2018

Gold is trading at $1,195.00 this morning, down $5.80, as the US dollar erased yesterday’s losses and is currently up .25% ahead of today’s Fed release.  Interest rates are overwhelmingly expected to rise today which has traditionally boosted the US dollar’s attractiveness to investors. Gold’s correlation to rising rates has been erratic, with some hikes helping and others hurting its price in recent years. 

September 24, 2018

Gold is currently at $1,203.50, up $6.50, as trade tensions hit a new high with China.  President Trump announced a 10% tariff on $200 billion in Chinese imports and China responded by imposing new tariffs against the US and declining an invitation to discuss a potential resolution.  The current tension caused the dollar to slip today as investors worry a trade war with China could hurt its value soon—even with interest rates likely to rise later this week.

September 21, 2018

Gold slipped today, currently down $9.20 trading at $1,197.50, as the US dollar rebounded after yesterday’s plunge to its lowest level since early July. Equity markets are also up with several major indices reaching record highs this week. Gold has gotten a boost from trade tensions with China this week, but record stocks and a climbing dollar continue to put downward pressure on metals.

September 19, 2018

Gold reached its highest level of the week today, currently up $5.70 trading at $1,204.00 as trade war fears loom and the US dollar dipped today.  US-China relations caused a slowdown in demand for the dollar as investors turned to metals amid the uncertainty of future trade between the two countries. Palladium and Platinum both hit their highest levels in over a month as well.

September 19, 2018

Gold reached its highest level of the week today.  It’s currently up $5.70 trading at $1204, as trade war fears loom and the US dollar dipped. US-China relations caused a slowdown in demand for the dollar as investors turned to metals amid the uncertainty of future tariffs between the two countries.  Palladium and Platinum both hit their highest levels in over a month as well.

September 17, 2018

Gold is up this morning currently trading at $1,202.50 as metals continue their boost from yesterday amid trade war fears with China.  President Trump announced new tariffs on $200 billion in Chinese imports which led to China threatening the US with tariffs.  After brushing off the back and forth banter between the US and China for months, many analysts believe this newest round of threats could be that last straw, and that a trade war is becoming more and more likely.

September 14, 2018

Gold fell today, currently down $7.10 trading at $1,196.00, after getting a boost yesterday on weak inflation data and a dropping dollar.  CPI data showed prices didn’t increase to expected levels, helping gold by potentially curbing future interest rate hikes.  The dollar recovered today, however, putting pressure back of metals.

September 12, 2018

Gold is currently up $5.80, trading at $1,202.90, after breaking the $1,200 barrier midday when the dollar slipped 0.25% as investors await the outcome of potential trade talks with China and tomorrow’s CPI report. Gold reached its highest level in nearly a week while the dollar backed down to its lowest level in about two weeks.

September 10, 2018

Gold remains relatively flat today, currently up $1.00 at $1,196.00. The US dollar declined 0.25% as fears of new China tariffs continue to rise—which helped boost gold slightly. However, Friday’s positive employment data continues to put downward pressure on metals, leaving prices static. 

September 7, 2018

Gold was trading up this morning, but dipped below the $1,200 threshold after strong employment data was released. 201,000 jobs were created in August (vs 190,000 expected) and wages increased 2.9% since August 2017, bolstering the best year-over-year pay increase since 2009. This data caused the dollar to climb and metals to fall, while having a minimal effect on equites.

Sign Up to receive the latest news and research

For Email Marketing you can trust