gold futures

gold futures

November 23, 2015

Gold, silver and copper traded near multi-year lows on Monday, as a broadly stronger U.S. dollar dampened appetite for the metals.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.16% at a seven-month high of 99.81.

Dollar-priced commodities become more expensive to investors holding other currencies when the greenback gains.

Demand for the greenback continued to be underpinned by expectations that the Federal Reserve is on track to raise interest rates next month.

Gold for December delivery on the Comex division of the New York Mercantile Exchange dropped $10.10, or 0.94%, to trade at $1,066.20 a troy ounce during U.S. morning hours. It earlier fell to $1,065.70, not far from last week’s low of $1,062.00, a level not seen in almost six years.

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silver futures options

silver futures

May 1st, 2014

Silver is being undermined by its association with gold.

While makers of everything from jewelry to solar panels are buying the most silver in nine years, prices are languishing. Investors are dismissing industrial demand and instead focusing on the waning appeal of precious metals as a haven, with the Federal Reserve paring economic stimulus measures, inflation muted and equities rallying.

Silver has been dragged down by a yearlong slump in gold, the commodity most widely held by investors in exchange-traded funds, following a decade-long rally that saw prices for both surge more than sixfold. The five most-accurate precious-metals analysts tracked by Bloomberg over the past two years predict silver will average $18.80 an ounce in the third quarter, the lowest since 2010, and gold will drop 7.3 percent.

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silver futures and options news

silver futures move higher

April 29th, 2013

Silver Futures – The slump in silver this month has spurred demand for products from Silver Bullion Pte, one of Singapore’s largest suppliers of coins and bars to retail investors, depleting inventories and doubling delivery times.

Holdings of bars fell to just 54 ounces from 60,000 ounces two and a half weeks ago, according to founder Gregor Gregersen. It now takes at least six weeks for new supplies to arrive in the country up from two to three weeks previously, he said. The company, set up in 2009, counts the Perth Mint in Australia and the Royal Canadian Mint among its suppliers.

Gregersen’s comments add to signs from across Asia that the plunge in silver, as well as gold, has triggered higher demand from physical buyers who see an opportunity to expand holdings. While silver has led declines in commodities this year, losing 20 percent in New York, the amount held in exchange-traded products worldwide remains 2.3 percent higher in 2013. The metal is used both as an investment as well as by industry.

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silver options trading

silver futures rise

April 24th, 2013

Silver Futures – Silver demand climbed 0.9 percent in 2012 as investors bought exchange-traded products backed by the metal, Thomson Reuters GFMS Ltd. said.

Demand rose to 1.048 billion ounces from 1.039 billion a year earlier, GFMS said in a report published today by the Washington-based Silver Institute. Investors bought 160 million ounces as the value of holdings in ETPs rose to a record $18.9 billion at yearend, up 16 percent from a year earlier, the report said.

Silver prices gained 8.3 percent in New York last year as the U.S., China and Japan announced stimulus measures to shore up their economies, boosting the appeal of precious metals as a store of value. The metal has plunged 24 percent in 2013 as subdued inflation and a rally in equities cut demand. Slowing growth in China, the world’s second-biggest buyer, may crimp silver’s use in industrial applications.

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April 3rd, 2013

Silver futures for immediate delivery, which tumbled into a bear market yesterday, may decline toward $26 an ounce, a level last traded in 2010, according to Barclays Plc.

The metal’s close below a support level of $27.95 an ounce yesterday will prompt technical selling and pressure prices, Dhiren Sarin, chief technical strategist for Asia Pacific, said today by phone from Singapore. Since the beginning of 2011, spot silver has tested the $26 level four times and managed to stay above that, making it a key support, he said.

Silver entered a bear market yesterday when it closed more than 20 percent below an Oct. 4 high. The reading on the 14-day relative strength index was 24.55 today, below the level of 30 that’s taken as a signal of a possible rebound.

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December 27th, 2012

Silver futures for March delivery advanced 1.1 percent to $30.365 an ounce. Earlier, the price dropped as much as 1.1 percent.

Gold futures rebounded after U.S. Senate Majority Leader Harry Reid said that the budget dispute probably won’t be resolved before Jan. 1, boosting demand for the metal as a haven.

Republicans won’t cooperate, said Reid, a Nevada Democrat. The impasse leaves the U.S. closer to more than $600 billion in automatic tax increases and spending cuts set to begin in 2013. Earlier, gold fell as much as 0.5 percent.

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silver futures options

silver prices rising

December 19th, 2012

Silver Futures – Silver Bullion Pte, one of Singapore’s largest suppliers of coins and bars to retail investors, says sales tripled since October, part of a global surge in demand that drove holdings to a record.

“Our clients are worried that a major currency crisis or mass bankruptcies would occur,” said Gregor Gregersen, the 36- year-old founder of Silver Bullion, whose sales now average about S$6 million ($4.9 million) a month. “It all has to do with falling confidence in the heavily indebted Western governments and financial institutions.”

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silver futures charts

Silver Futures Fall

December 13th, 2012

Silver Futures

Silver futures had the biggest drop in five weeks and gold futures fell the most in a week as mounting concerns on the U.S. economy and budget impasse eroded demand for the precious metals.

Gold futures for delivery in February dropped 1.2 percent to settle at $1,696.80 an ounce on the Comex in New York, the biggest decline for a most-active contract since Dec. 4.

Silver futures for March delivery slumped 4.2 percent to $32.355 an ounce, the biggest slide since Nov. 2.

On the New York Mercantile Exchange, platinum futures for January delivery dropped 2 percent to $1,612.80 an ounce, the first loss in seven sessions.

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silver futures charts

Silver futures advance

December 10th, 2012

Silver futures and gold advanced Monday as some investors stocked up on precious metals ahead of the U.S. Federal Reserve’s policy-setting meeting while others sought a haven from concerns about Europe’s political upheaval.

The most actively traded contract, for February delivery, rose $8.90, or 0.5%, to settle at $1,714.40 a troy ounce on the Comex division of the New York Mercantile Exchange.

The Federal Open Market Committee is due to hold a two-day policy-setting meeting starting Tuesday. Some precious-metals investors hope to see the central bank extend “Operation Twist,” its inflation-resistant Treasury purchasing program, while others speculate that a new easing effort will be announced.

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gold futures and options

Gold futures move higher

November 29th, 2012

Gold futures rose for the first time in four days on speculation that the Federal Reserve will buy more debt to boost the U.S. economy. Silver climbed to a seven-week high.

“I will be assessing the employment and inflation outlook in order to determine whether we should continue Treasury purchases into 2013,” Federal Reserve Bank of New York President William C. Dudley said in a speech in New York. Treasury Secretary Timothy F. Geithner began talks with congressional leaders on a budget accord.

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