Tag Archives: metal market

Precious Metals Decline On Steady Risk Appetite

04 Monday Feb 2019

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Risk appetite in equity and forex markets and positive US dollar in the broad market caused precious metals to decline in broad market.

Precious metals today saw sharp downside move as market scenario returned to normal following an eventful month. Given the fact that there is no major market altering events in the week ahead and the fact that market is set to see a week full of first tier macro data updates, investor sentiment is positive with plenty of risk appetite across all major global markets. Further US Dollar gained strength in the broad market following upbeat US NFP data and ISM Manufacturing PMI released last Friday. The dollar has retained its strength across Asian and early European market hours which also added to precious metal market bears.

Brent Crude Climbs Above $60 Per Barrel

Positive US dollar in broad market is always bearish for greenback denominated precious metals. A higher value of USD discourages participants from emerging markets owing to higher exchange rate which further reduces activity in the precious metals market. Risk appetite is currently very high in broad market as headlines last week hinted that China & U.S. managed to come to an agreement on many key issues which improved chances of a trade deal between two nations. As of writing this article, spot gold XAUUSD is trading at $1310.92 per ounce down by 0.51% on the day while US gold futures GCcv1 was trading at $1314.90 per ounce down by 0.54% on the day. Meanwhile, spot silver XAGUSD is trading at $15.75 per ounce down by 0.92% on the day.

Read more via: https://www.fxempire.com/news/article/precious-metals-decline-on-steady-risk-appetite-550655

Asian Metal Market Update

09 Wednesday Jan 2019

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Big moves will be there in metals, energies and the US dollar Index only after the outcome of US-China trade talks are known. Till then, the consolidation phase will be there. Focus of the world in on a Chinese slowdown. Long term metal investors are on the sidelines as they expect slower and lower Chinese demand. If the trade talks succeed and all issues comes to an end once and for all, then also, the Chinese economic growth will not happen overnight. It will take at least another quarter to see actual higher and sustained growth.

Read more via: http://news.goldseek.com/InsigniaConsultants/1547042683.php

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

10 Tuesday Apr 2018

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Photo courtesy of colourbox.com

(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.

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

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