Gold, Silver Slightly Lower Amid Upbeat Risk Appetite | Kitco News

10 Tuesday Apr 2018

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(Kitco News) – Safe-haven gold and silver prices are slightly lower in early U.S. trading Monday. Higher world stock markets overnight are a negative for the competing asset class of precious metals. However, a slightly weaker U.S. dollar index today is working in favor of the metals bulls. June Comex gold futures were last down $0.60 an ounce at $1,335.40. May Comex silver was last down $0.007 at $16.355 an ounce.

U.S. stock indexes are also pointed toward higher openings when the New York day session begins, which suggests better investor risk appetite in the marketplace to start the trading week. Still, traders and investors are wondering if the high volatility in the stock market will continue this week. Such would favor the stock market bears and the precious metals market bulls.

The markets have not reacted significantly to reports of missile strikes on the Syrian military overnight, after weekend reports that the Syrian army has used poison gas on its civilians. Reports said the missile strikes came from Israeli jets.

The U.S.-China trade dispute simmered down a bit during the weekend. Trump administration officials said on Sunday that trade sanctions against China are not imminent and there is time to work out a solution to the matter.

The key “outside markets” on Monday morning see the U.S. dollar index slightly lower. The greenback is seeing a corrective pullback today after hitting a five-week high on Friday. Meantime, Nymex crude oil prices are higher and trading just below $63.00 a barrel.

Gold Outlook Investors Watching $1,300 For Gold Next Week

15 Thursday Jun 2017

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Gold’s renewed momentum, following a disappointing May jobs report, is expected to continue into next week with some analysts saying that $1,300 could be a viable target.

Gold saw a major boost Friday after the release of a weaker-than-expected nonfarm payrolls report, which showed that 138,000 jobs were created in May, well below expectations for gains of 181,000 jobs.

August gold futures last traded at $1,279.60 an ounce, up 0.64% from last Friday, its fourth consecutive week of positive gains.

The rally in gold helped push up the entire precious metals complex higher with palladium posting its highest price in almost two years; September palladium last traded at $835.45 an ounce, up more than 6% from last week. July Comex silver futures last traded at $17.505, up 1% from last week. Meanwhile, July Platinum was the only weaker metal, last trading at 953.60 an ounce, down almost 1% from the previous week.