Zaner Precious Metals Report

Thursday, August 22, 2019 8:53:07 AM America/Chicago

The gold bulls were likely disappointed with the FOMC meeting notes on Wednesday, which showed that Fed officials were divided about how many more easing steps they would take this year, but the market only seemed to suffer some momentary weakness in the wake of the release.

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Zaner Precious Metals Report

Wednesday, August 21, 2019 8:43:08 AM America/Chicago

Strong earnings numbers from Home Depot, Lowe's, and Target are positive indicators for the consumer and for the economy. The recession talk from last week has died down, and both of these factors are negative for gold, at least in the near term.

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Zaner Precious Metals Report

Tuesday, August 20, 2019 8:49:11 AM America/Chicago

Gold and silver were higher overnight as they continued to consolidate inside the extremely wide ranges from August 13th. This follows a two-day setback in which a "risk on" mood developed in the markets following supportive measures by the Peoples Bank of China and the German government and hints of a move by the ECB next month.

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Zaner Precious Metals Report

Monday, August 19, 2019 9:06:00 AM America/Chicago

Gold and silver were lower overnight as the equities and the dollar were higher and Treasury yields rose. Precious metals have several long term factors in their favor, particularly the uncertain economic condition driven by the trade war with China and the prospect that major central banks will be cutting rates as threats of global recession emerge.

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Zaner Precious Metals Report

Friday, August 16, 2019 9:03:20 AM America/Chicago

The gold market disappointed some bulls with its lack of a significant upward thrust yesterday following the latest anxiety wave from another lower low for the move in US equities yesterday afternoon. Furthermore seeing the market reversed chart direction this morning and seeing the prospect of a risk-on day in equities gives the bear camp the edge to start today.

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Zaner Precious Metals Report

Thursday, August 15, 2019 8:30:33 AM America/Chicago

[I]nvestors continue to push money toward gold and silver in a flight to quality move and it should be difficult to completely eliminate economic slowing concerns without an improvement in trade relations or a series of strong US data points.

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Zaner Precious Metals Report

Wednesday, August 14, 2019 9:16:36 AM America/Chicago

Following the most expansive trading range of the last 12 months, the gold market is a little off balance this morning because of the tempering of US/Chinese trade tensions.

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Zaner Precious Metals Report

Tuesday, August 13, 2019 11:31:47 AM America/Chicago

Certainly a number of bullish forces are operating this morning to justify strength in gold prices but in our opinion the magnitude of the gains in the face of only marginal declines in equities and in the face of modest strength in the dollar highlights the gold and silver markets expanding potentials.

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Zaner Precious Metals Report

Monday, August 12, 2019 11:51:34 AM America/Chicago

The markets also saw predictions that gold would reach $1600 an ounce in the coming six months with those predictions accompanied by the heaviest fund investment in gold since 2016. Apparently Goldman Sachs thinks gold will hit $1,600 in six months while Citi indicated gold could rise to that level in 6 to 12 months.

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Zaner Precious Metals Report

Friday, August 9, 2019 8:25:32 AM America/Chicago

Like all markets that go up aggressively in a compacted period of time, the gold and silver markets were in need of both technical and fundamental corrective price action following a series of multi-year highs posted earlier this week.

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Posted in News By Zaner Metals