Gold futures gained Tuesday to mark the highest finish since early September, even as a closely watched U.S. dollar index tried to end its streak of declines. “The near-term trend remains higher for gold, and that is in line with inflation taking hold,” said analysts at the Sevens Report. “That, in turn, is weighing on real interest rates, which is bullish for gold.”
Palladium futures on Thursday climbed past $1,100 an ounce for the first time on record, leaving some traders to wonder whether palladium has the ability to continue its rally and surpass the value of gold.
Gold hit its highest since late September on Tuesday, extending a year-end rally that saw the metal rise 4.4 percent in the last three weeks of 2017, as a further retreat in the dollar drove prices above $1,310 an ounce. Palladium prices meanwhile bounced to a new 17-year high, within $5 of their all-time peak, as tightening emissions controls and a swing away from diesel cars in Europe fueled fears of a shortage of the…
Remember gold? It seems like only six years ago the shiny metal was flavor of the month, hitting a record $1,900 a troy ounce while its backers prophesied the end of the fiat money system.
Gold held near a two-month low on Wednesday, under pressure from an advancing dollar ahead of a vote on the U.S. tax reform plan, but a potential government shutdown lent support to prices. Spot gold had inched 0.1 percent lower to $1,264.260 an ounce by 14:20 GMT after it hit its weakest since Oct. 6 in the previous session.
Over the past month, there has been a deluge of news heralding a new era of palladium, which has soared above the $1,000 per ounce mark for the first time in the past 16 years. Moreover, palladium also overtook platinum and is still being traded at a premium to it. The overwhelming majority (78 percent) of the world’s palladium is used in gasoline-fueled cars’ catalytic converters, with minor volumes going into electronic resistor production and…
U.S. Fed, Bank of England, Bank of Japan meet this week Trump to announce Fed chair, with Powell tipped for post Gold steadied on Monday as traders stayed on the sidelines before this week’s central bank meetings and policy news, including President Donald Trump’s expected announcement of the next Federal Reserve chair. The U.S. central bank kicks off a two-day policy meeting on Tuesday, while the Bank of Japan and Bank of England also meet…
Chart Patterns The prices of the metals dropped $20 and $0.39, a downhill slide interrupted on Thursday by speculation fueled by some economic data, and which resumed on Friday.
The price of several metals has traditionally been looked at paired with that of another metal. For example, gold and silver prices are looked at in isolation and relative to each other, in part because both metals make up a major part of the jewelry trade.
The secret of creating gold has fascinated alchemists for thousands of years, but now scientists have finally solved the mystery. Precious metals are forged in the cataclysmic collision of neutron stars and then flung out into the universe where they eventually aggregate with other stardust into larger bodies, like planets or comets.