Gold, Silver Prices Up as Global Equity Markets Pause

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closes in 7 hrs. 57 mins.Dec 09, 2019 09:03 NY Time

Bid/Ask	1464.20 / 1465.20
Low/High	1459.90 / 1466.20
Change	+4.50	+0.31%
30daychg	+5.40	+0.37%
1yearchg	+216.40	+17.34%
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Silver Price & PGMs

Dec 09, 2019 09:03 NY TimeKitco 10AM Silver Fix

Silver	16.61	+0.04
Platinum	896.00	+2.00
Palladium	1872.00	+12.00
Rhodium	5500.00	0.00

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Kitco News

(Kitco News) – Gold and silver prices are trading modestly higher in early U.S. trading Monday. The safe-haven metals are seeing just a bit of buying interest as the world stock markets have seen buying interest limited early this week by a downbeat economic report coming out of China. February gold futures were last up $3.50 an ounce at 1,468.60. March Comex silver prices were last up $0.104 at $16.70 an ounce. 

Asian and European stock indexes were mixed overnight. The U.S. stock indexes are pointed toward slightly lower openings when the New York day session begins. The world marketplace is seeing just a bit of risk aversion to start the trading week, following weaker economic data coming out of China, the world’s second-largest economy. China’s exports fell 1.1% in November, year-on-year, including shipments to the U.S. declining 23% in the period. China’s exports were seen up 1.0% in November. Imports were up 0.3% in the same period, and were expected to be unchanged.

The U.S. economic highlight of the week is the Federal Reserve’s Open Market Committee meeting (FOMC) that begins Tuesday morning and ends Wednesday afternoon with a statement. The Fed is expected to make no changes in its monetary policy. The European Central Bank also meets on monetary policy Thursday.

Goldman Sachs is recommending investors buy some more gold in the coming months, due to stubbornly low global bond yields, the higher potential for stock market turbulence and the keener uncertainty of the 2020 U.S. presidential election.

The key “outside markets” today see the U.S. dollar index weaker. Meantime, Nymex crude oil prices are lower and trading around $58.75 a barrel. 

U.S. economic data due for release Monday is light and includes the employment trends index. The pace report picks up rapidly Tuesday and through the rest of the week.

Posted By :

Jack Dempsey, President

401 Gold Consultants LLC

jdemp2003@gmail.com