Market Updates
Keep up-to-date in the past week’s price action and the current geopolitical and economic factors driving the international and local precious metal markets.
What the end of Q2 says about the future of gold
Following last week's late strength, gold rose a further 2.07% this week, with all precious metals following suit and Palladium showing a steadying pace. This week, we look to the World Gold Council to wrap up Q2 and H1, with a strong focus on gold demand.
Precious metals make strong recovery amidst housing price fall
Gold, silver and platinum are all up, despite a tough month of consistent lows. The national median house price has fallen for the first time in two years, whilst the ECB follows its interest hike with the announcement of a new strategy.
Did RBA contribute to current inflation?
Gold maintains its position as a safe haven for wealth in times of concern and with new quarterly CPI data being released next week, investors and homeowners are rushing to add gold and precious metals to their portfolios as a hedge against rising inflation and increasing interest rates on the housing market.
Gold heads south for the winter
Thursday’s trading session saw the yellow metal shed US$25 per ounce, with gold nearly 2% lower overall for the week. Inflation in the US shows no signs of slowing, with the market pricing in a 1% hike from the Federal Reserve Bank this month. The Euro reached parity with the US dollar, further putting pressure on gold as greenbacks become the preferred safe haven investment.
Gold hits six-month low as interest rates rise
Gold’s dramatic sell-off this week has brought out the bargain hunters. A strong US dollar continues to put pressure on gold, as the Euro gets closer to parity this week…
Gold supported as US Treasury yields dip
Spot gold is marginally lower this week. The yellow metal has been largely forming a consolidation pattern over the past two weeks. Federal Reserve Bank rate increases are putting pressure on gold but US Treasury yields dipped lower, providing some relief.
Gold stays calm under pressure from Fed
Gold is down overall this week, lower by 0.66% to US$1,822. Despite falling, spot gold is holding its ground against the Federal Reserve Bank’s warnings of further aggressive rate hikes.
Markets dive and gold proves its mettle
After a bumpy week, gold is back to the important psychological level of US$1,850. The Federal Reserve Bank shocked the market this week, raising rates 75 basis points instead of the expected 50 basis points, and the Swiss National Bank raised rates for the first time in 15 years.
Gold treads familiar waters
Gold treads familiar waters this week, sticking around US$1,850 ahead of the June FOMC meeting. Silver jumps, platinum retreats, and central banks become more bullish on gold…
All precious metals rally this week
Gold rallied this week and remains above US$1,850, as a weaker than expected US jobs report put pressure on the US dollar. Platinum has its best week since the start of March, up almost 10% as automakers return to normal…
Will a US recession drive gold higher?
Overall spot gold rose 2% this week to US$1,853 per ounce, with an intra-week high of US$1,869.68. The May Federal Reserve minutes contained no surprises, with more aggressive hikes off the table for now and half-percent increases expected at the next few meetings.
Gold steady as default and stagflation risks grow
Gold rose 0.50% this week to US$1,842, likely driven by technical buying as the US dollar fell from its two-decade high. Major US indices have had some of their worst falls since the early days of the pandemic, and stagflation fears grow in Asia and Europe.
The three things needed for a gold bull market are already here
Gold continued its fall this week, down 3.15% in total, though Au lost 1.6% in trading on Thursday night. Investors are seeking refuge in gold as equity markets are hit much harder. High inflation data and fears of a slowing global economy pushed equity markets down to 18-month lows overnight.
Gold price rises on Fed decision
Gold has rebounded this week after the Federal Reserve Bank announced a May rate hike. Au dipped down ahead of the Fed meeting, but spot gold will close higher overall this week…
Gold battles a strong greenback
Spot gold was pushed down last week to back below US$1,900. Greenbacks remain strong as the Federal Reserve Bank is expected to increase rates at next week’s FOMC. Major currencies are falling compared to the US as pressure mounts on gold…
Gold nestles in before the Fed speaks
After rejecting US$2,000 per ounce last week, look for gold to consolidate between US$1,940–60 in the lead up to the May Fed meeting.
Is gold ready to crack US$2,000 per ounce again?
Spot gold traded US$10 per ounce higher on US CPI data, reaching a four-decade high. Though Au had a muted response to the high inflation numbers coming out of the US, largely because the US remains strong and real yields continue to rise. One economist says we may be nearing the peak…
Gold rejects the lows and moves sideways
Managed money positioning has declined in gold for the fourth week in a row, and gold-backed ETF inflows have eased. Gold is coming under pressure from rising real yields and falling crude prices, though it looks to have found support nearby…
Gold inches up
Spot gold has struggled to move this week, though the yellow metal appears to be finding support around these levels. With the Fed ‘lift off’ underway, there is little noise to nudge gold in either direction. Futures positioning in gold has reduced for the third consecutive week, which contrasts with gold backed ETFs where inflows have increased.
Gold is 2022’s ‘store’ of value
The Russia-Ukraine conflict continues. This was unable to provide support to gold this week. US Treasury yields jumped as the Federal Reserve Bank raised rates, further dampening the enthusiasm for precious metals…
Gold cracks US$2,000 per ounce
Spot gold traded above US$2,000 again this week, reaching an intra-week high of US$2,069. Ongoing conflict from Russia and inflation fears drove gold up…
Stocks fall and gold rallies
Gold continues to rally amongst the Russian-Ukrainian conflict. The Australian Friday trading session has been an extremely volatile, with gold rallying to an intra-session high of US$1,951 on news of Russian shelling at a Ukrainian nuclear facility.
Gold soars as Russia invades Ukraine
News of Russia’s first missile strike saw gold leap nearly 1% in five minutes, with the yellow metal extending to an intra-session high of US$1,974 shortly after Russia’s second missile assault. Gold is higher by 0.28% overall in the past seven days, however yesterday’s trading was extremely volatile.
Invasion threat lifts gold
Inflation didn’t move gold, but geopolitical tensions did. Gold’s rally this week has been driven higher on fear. Maintaining this seven-month high may be challenging unless institutional money flows into gold…
Gold at a two-week high
Spot gold reached its highest level overnight in two weeks as US inflation soared to a 40 year high. Fears of entrenched inflation in the US and a lack of promising signs in the recent US jobs data are leaving market watchers to speculate on just how aggressive the Federal Reserve Bank’s rate increases will be…