Posts Tagged precious metals prices
Gold & Silver Prices – Daily Outlook December 20
Posted by admin in Uncategorized on January 8, 2012
Gold and silver prices slightly declined again on the first day of the week, but currently they are moderately rising. The recent news of the unexpected rise in the German confidence report maybe among the factors to further rally the Euro and thus also precious metals prices. Today, the U.S. Housing starts and building permits report will be published, the Canadian consumer price index and Bank of Japan announces its monetary policy and rate decision.
Here is a market outlook of precious metals prices for today, December 20th:
Gold and Silver Prices –December Update
Gold price slipped on Monday by 0.08% to $1,596.7; silver price also declined by 2.69% to $28.87. The chart below shows the changes of gold and silver prices during the month (normalized gold and silver prices to November 30th 2011). During December gold price dropped by 8.8% and silver price by 12%.
The ratio between gold and silver prices inclined on Monday, December 19th and reached 55.30. During the month the ratio gained 3.6% as gold price has outperformed silver price.
Despite the sharp decline in gold and silver prices throughout the month, their daily percent changes’ standard deviations didn’t increase compared with their standard deviations in previous months and are well below the high standard deviations recorded back in September when both precious metals prices plummeted precipitately.
Traders Bearish on Gold – Goldman Predicts Rally in Commodities
The sharp declines in commodities prices including gold price was probably due to the sharp reduction in speculators’ bets on commodities; according to Bloomberg, wagers on gold futures declined to an eight week low. that being said, Goldman Sachs is still predicting that 2012 won’t be a recession year and commodities will maintain a 15% return in the upcoming year. This means that while gold price may further decline in the days to come, it may rally in the long run.
On Today’s Agenda
Canadian Core CPI: This report will refer to the core consumer price index changes during November 2011 that controls the volatile components such as energy, fruit and vegetables. According to the Canadian CPI report for October 2011, the CPI rose by 2.9% during the past 12 months. This news could affect the Canadian dollar which is strongly correlated with commodities prices.
U.S. Housing starts and Building Permits: the US Census Bureau will publish the U.S housing report; the housing starts was historically correlated with gold price – as housing starts declined, gold prices tend to rise the following day (even when controlling to the U.S dollar effect); in the previous report, the adjusted annual rate of housing starts slightly rose by 0.3%, while adjusted annual rate of building permits inclined by 10.9% (M-o-M) (see here the recent review);
Bank of Japan – Rate and Monetary Policy Decision: In the previous statement, the BOJ kept the interest rate unchanged at 0 to 0.1 percent. if the BOJ will prepare additional monetary stimulus plans, it may affect the forex market and commodities markets considering that Japan is among the leading countries in importing commodities such as gold and crude oil;
Forex Trading / Gold & Silver Prices – December Update
The Euro to U.S Dollar moderately slipped on Monday by 0.36% to reach 1.2999. Other forex exchange rates such as the Canadian dollar and Australian dollar also depreciated against the U.S dollar. if these currencies will change direction today and appreciate against the U.S. dollar, then it may affect gold and silver prices to incline.
American Stock Markets / Gold & Silver Prices – Update
The S&P500 index slightly dropped on Monday by 1.17% to 1,205.35. During December S&P500 index declined by 3.34%. The S&P500 index are strongly and positively correlated to gold and silver prices (during December the linear correlation was 0.546 and 0.704, respectively), so that if the stock market will rally from yesterday’s decline, it may also indicate that gold and silver prices are likely to follow and rise.
The chart below presents the development of precious metals prices and &P500 index during December (they are all normalized to November 30th). it shows that S&P500 index declined during the month but by a a lesser rate than gold and silver prices.
Current Gold and Silver Prices December 20th
The major precious metals are currently traded slightly up in the European markets:
Current gold price per ounce short term future (January 2012 delivery) is traded at $1,602.80 per t oz. a $6.1 or 0.38% increase as of 08:17*.
Current silver price per ounce short term future (January 2012 delivery) is at $29.110 per t oz – a $0.236 or 0.82% increase as of 08:16*.
Gold and Silver Prices Outlook:
Gold and silver prices didn’t do much yesterday, but many anticipate that the precious metals will rally from the sharp declines of last week and curb some of the falls of December. The upcoming reports of the housing market in the U.S. may affect gold price to rally if the reports won’t show an improvement. In the meantime, if the Stocks and Forex markets will rally today, this may also positively affect precious metals prices to rise.
Here is a reminder of the top events and reports that are planed for today and tomorrow (all times GMT):
13:00 – Canadian Core CPI
13:30 – U.S. Housing Starts
13:30 – U.S. Building Permits
Tentative – Bank of Japan – Rate Decision
13:30 – Core Retails Sales Canada (October 2011)
15:00 – U.S. Existing Home Sales
15:30 – EIA Crude Oil Market Report
Monthly Analysis and Outlook:
- Gold and Silver Prices Monthly Outlook for December 2011
- Natural Gas Prices Monthly Outlook for December 2011
About the Author: Lior Cohen, M.a in Economics, a commodities analyst and blogger at Trading NRG.
Gold & Silver Prices – Daily Outlook December 20
Gold & Silver Prices – Daily Outlook December 23
Posted by admin in Uncategorized on December 27, 2011
Gold and silver prices slightly declined yesterday for the second consecutive day, even though other commodities prices such as crude oil prices inclined and American stock markets moderately rose on Thursday. Currently, gold and silver are traded slightly up. Today, the U.S. new home sales report will be published, the U.S. core durable goods and Canadian GDP by Industry report.
Here is a market outlook of precious metals prices for today, December 23rd:
Gold and Silver Prices –December Update
Gold price slightly declined on Thursday by 0.19% to $1,610.6; silver price also declined by 0.69% to $29.05. The chart below shows the development of gold and silver prices during December (normalized gold and silver prices to November 30th 2011). During December gold price decreased by 8.0% and silver price by 11.5%.
The ratio between gold and silver prices slightly rose on Thursday, December 22nd and reached 55.45. During the month the ratio gained 3.9% as gold price has outperformed silver price.
U.S. Initial Claims Declined Last Week
According to the recent U.S. jobless claims weekly report, initial claims of 4,000 for the week ending on December 17th; to reach 364,000 claims (seasonally adjusted data); the insured unemployment rate also declined by 0.1 percent point to 2.8% for the week ending on December 10th.
U.S GDP Q3 2011 was Revised Down to 1.8%
The growth rate of the real U.S GDP 2011 in the third quarter of 2011 was revised down again from 2.0% in the initial estimate to 1.8% growth rate in the recent estimate; in the previous quarter (Q2 2011) the real U.S GDP rose by only 1.3%; thus the growth rate in the Q3 2011 was moderately higher than in the previous quarter and was also the best performing quarter so far in 2011. This may have been among the factor to adversely affect gold and silver prices to slip yesterday.
On Today’s Agenda
Canadian GDP by Industry: In the last report regarding September, the real gross domestic product advanced by 0.2%. the monthly increase was stem in part from a gain in good and services. This report might affect the trade on the Canadian dollar currency (for the full previous report);
U.S Core Durable Goods: This monthly report will examine the changes in U.S. orders of durable goods in the manufacturing sector during November. During October 2011, manufactured durable goods decreased by $1.4 billion to $197.7 billion; Non-defense new orders for capital goods also dropped by $3.5 billion or 4.6% to $71.6 billion (for the full report);
U.S. new Home Sales: This report will present the development in the real estate market during November 2011 and change in the U.S new home sales; in the previous report (October 2011), the sales of new homes reached an annual rate of 307,000 – a 1.3% increase; if this upward trend will progress, it may further indicate a moderate increase in the U.S real estate market and may positively affect commodities prices.
Forex Trading / Gold & Silver Prices – December Update
The Euro to U.S Dollar changed direction again and slightly rose on Thursday by 0.03% to reach 1.3051. on the other hand, other forex exchange rates such as the Canadian dollar also appreciated against the U.S dollar. if major currencies will depreciate against the U.S. dollar, it may also affect gold and silver prices to bounce back.
Current Gold and Silver Prices December 23rd
The major precious metals are currently traded slightly up in the Asian markets:
Current gold price per ounce short term future (January 2012 delivery) is traded at $1,610.70 per t oz. a $0.1 or 0.01% increase as of 00:21*.
Current silver price per ounce short term future (January 2012 delivery) is at $29.200 per t oz – a $0.153 or 0.53% increase as of 00:21*.
Gold and Silver Prices Outlook:
Gold and silver prices moderately declined for the second straight day, and thus continued the downward trend they have had during December. the rally in other commodities prices mainly crude oil and natural gas prices, Forex markets (such as Euro and AUD) and American Stock indexes (including S&P500) didn’t coincide with yesterday’s falls of precious metals prices. if the upcoming American reports including the U.S. home sales and core durable goods will show further improvement, this may change the direction of the recent downward trend of gold and silver prices.
Here is a reminder of the top events and reports that are planed for today (all times GMT):
13:30 – Canada GDP by Industry
13:30 – U.S Core Durable Goods
15:00 – U.S. new Home Sales
Monthly Analysis and Outlook:
- Gold and Silver Prices Monthly Outlook for December 2011
- Natural Gas Prices Monthly Outlook for December 2011
About the Author: Lior Cohen, M.a in Economics, a commodities analyst and blogger at Trading NRG.
Gold & Silver Prices – Daily Outlook October 31
Posted by admin in Uncategorized on November 4, 2011
Gold and silver traders enjoyed from sharp gains to gold and silver prices during most of last week. the G20 summit, the FOMC meeting, the ECB rate decision and the U.S. labor report are the main events for the upcoming week that could influence bullion traders. currently gold and silver prices are traded sharply down. the yen is sharply falling against the USD as Japan intervened in the forex market. Today, Euro Area Annual Inflation will be published, Canada’s GDP report, China Manufacturing PMI and BOA Cash Rate Statement.
Here is a market outlook of precious metals prices for today, October 31st:
Gold and Silver Prices – October Update
Gold price slipped on Friday by 0.03% to $1,747.2; silver price on the other hand slightly inclined by 0.50% to $35.29. The chart below presents the development of gold and silver prices during October (normalized gold and silver prices (September 30th 2011=100)). during October, gold price increased by 7.7% and silver prices by 17.3%.
The ratio between gold and silver prices slightly fell on Friday, October 28th to 49.51. during October, silver price inclined by a slightly larger rate than gold price as the ratio slipped by 8.2%.
Japan Weakens its Currency again
Japan stepped into the forex exchange rate markets again and caused a sharp depreciation of he YEN against the USD and other currencies in order to protect the county’s exporters. this news may also be among the reasons for the sharp appreciation of the USD against other currencies and consequently could also be a partial explanation for the sharp falls in major commodities including gold and silver.
G20 and EU Debt Crisis
The upcoming G20 Summit to be held in Cannes, France on November 3rd and 4th will probably revolve around the EU debt crisis: the EU leaders will try to persuade additional countries to contribute to the EU rescue fund or to boost the IMF fund. if other countries will support the fund, it could ease the debt concerns and help rally the financial markets.
On Today’s Agenda:
Euro Area Annual Inflation (September): the inflation in Euro Area grew to 3.0% in September; if the upcoming report will show a rise in the inflation rate, it may further lower the chances of an ECB interest rate reduction;
Canada GDP by Industry: this report will present the changes in major industrial sectors for August 2011, and may affect the CAD exchange rate and consequently major commodities prices.
China Manufacturing PMI: this index will cover 800 companies in 20 industries in China; this index indicates the changes in China’s manufacturing sectors growth rate; Bank of Australia –Rate Statement: the overnight money market interest rate of Australia’s Reserve Bank remained flat at 4.75% since November 2010;
Forex Exchange Rates / Gold & Silver Prices – October
The Euro to U.S Dollar exchange rate slightly slipped on Friday by 0.30% to reach 1.4147; other currencies also were traded slightly down against the USD including CAD and AUD. during last week, the sharp gains in the “risk currencies” (i.e. AUD and CAD) coincided with the rally of gold and silver prices. if said currencies will continue to decline today, this shift may also pull down gold and silver prices.
U.S. Treasuries / Gold Price – October
The U.S. 10-year Treasury yield sharply declined on Friday by 0.08 percent points to 2.34%; during October the 10 year treasury yield rose by 0.42 percent point. the LT yields have zigzagged in recent days as the stocks and commodities markets rallied during most of last week. if the yields will continue to rise as it did during most of the month, this might indicate a growing risk appetite in the markets that could help boost the demand for commodities as well as stocks.
Current Gold and Silver Prices per Ounce
The precious metals prices are currently traded sharply down in the Bullion markets:
Current gold prices per ounce short term future (November 2011 delivery) is traded at $1,711.6 per t oz. a $35.6 or 2.04% decrease as of 07:30*.
Current silver prices per ounce short term future (November 2011 delivery) is at $34.290 per t oz – a $0.998 or 2.83% decline as of 07:31*.
The current ratio of gold to silver prices per ounce is at 49.91.
Gold and Silver Prices Outlook:
Gold and silver prices ended the week with light changes after they had rallied during the week. the current drop in gold and silver prices might be related to the “last day of the month speculation”, as traders are closing positions on their gold and silver contracts. the current drop also coincides with the sharp falls in the major currencies against the USD such as YEN, EURO, AUD and CAD. following the sharp gains during recent days in gold and silver prices, there might be a correction today as we are existing October.
Here is a reminder of the top events and reports that are planed for today and tomorrow (all times GMT):
11:00 – Euro Area Annual Inflation (September)
13:30 – Canada GDP by Industry
2:00– China Manufacturing PMI
4:30 – Reserve Bank of Australia – Cash Rate Statement
10:30 – GB GDP Q3 2011
15:00 – U.S. ISM Manufacturing PMI
For further reading:
- Weekly Outlook for October 31 – November 4
- Did the Liquidity Trap cause the Hike in Gold Price?
- Gold & Silver Prices | Weekly Recap 24-28 October
Lior Cohen, M.a. commodities analyst and blogger at Trading NRG.
What A Rare Coin Dealer Does
Posted by admin in Uncategorized on October 26, 2011
A rare coin dealer actually has many more responsibilities than just selling you the coins you want. While that may be the only part you really care about, you should understand just how much goes into making sure you get a fair price whenever you buy or sell your coins. There is a lot that goes into keeping up with the latest coin and precious metals news, and all of that is how you can manage to make a profit on the coin collection that you’re building.
Even if your rare coin dealer is only dealing in coins as a hobby, you can be sure that he or she knows the state of the prices for precious metals. after all, there are several coins in American history that contain significant amounts of precious metals, especially silver. If your rare coin dealer doesn’t understand the precious metals prices of the day, the prices of the coins could be off by several dollars. for instance, a silver dollar with significant silver content would have recently gone up several dollars in value because the price of silver is now reaching over forty dollars per ounce. You can’t benefit from this knowledge if your coin dealer doesn’t know to share it.
A rare coin dealer must also know which coins are truly valuable and desirable and which are just on the scene because of hype. It’s really easy to get the latest coin collecting newsletters and fall for the coins that everyone seems to be seeking. The hottest thing on the market might be a rare cent piece that’s going for thousands of dollars. If you splash out and buy it, you must realize that it could be worthless once everyone moves on to the next big thing. It’s not a great investment at all if you lose thousands of dollars on it, and that’s why a rare coin dealer should be your closest professional contact.
With the help of your coin dealer, you could truly put together a formidable coin collection. Choose the coins that are likely to continue steadily rising and avoid those that have drawn a lot of attention lately. You will be pleased with your progress when you find that your coin collection actually has the power to sustain you and your family throughout your retirement years. It’s a lot easier than you might think, and it only gets easier when you have a coin dealer that you can trust.
US Mint Silver Sets Return at Pre-Suspension Prices
Posted by admin in Uncategorized on September 21, 2011
The above two products are again available from the U.S. Mint, returning from a suspension at the same prices.
The United States Mint on Monday, September 12, returned to selling two silver sets which were suspended on September 2 due to volatile and soaring precious metals. The sets came back at their same pre-suspension prices.
The Mint halted sales of the 2010 United States Mint Silver Proof Set ($64.95) and the 2010 United States Mint America the beautiful Quarters Silver Proof Set ($39.95) after silver reached as high as $43.50 an ounce. since, the white metal has taken a pounding, dropping as low as $39.75 an ounce on Monday.
Each of the Mint’s silver sets has faced several suspensions this year due to surging precious metals. Prices for the 2010-dated issues were actually raised in March to prevent their selling at levels close to their melt values. The 2010 Silver Proof Set, which contains 1.34 ounces of silver, went up from $56.95 to $64.95. The 2010 Quarters Silver Proof Set, which has 0.904 ounces of the white metal, had its price increased from $32.95 to $39.95.
Based on how precious metals have moved this year, it would seem likely that the sets could again get suspended down the road. as of this writing, silver prices have already returned to $41 an ounce. at that level, the melt values the 2010-2011 Silver Proof Sets and 2010-2011 America the beautiful Quarter Silver Sets are $54.87 and $37.07, respectively.
The United States Mint has a published pricing policy in place for its gold and platinum numismatic products, as it will increase or decrease their prices once a week if the weekly average of precious metals shifts significantly higher or lower. more than a dozen gold products were halted on the same day as the silver sets, but they returned for sale nearly one week ago (at higher prices).
The Mint does not have a published pricing policy for its silver offerings. Before these product prices change, their sales are typically suspended until a review takes place and a notice is given on the Federal Register, which is an official daily publication for rules, proposed rules, and notices of Federal agencies and organizations. in this instance, the white metal dropped enough where adjustments were not implemented.
Gold Price
