Live Spot Gold
SPOT MARKET IS OPEN
closes in 6 hrs. 25 mins.Mar 09, 2020 10:35 NY Time
| Bid/Ask | 1671.10 / 1672.10 | |
| Low/High | 1657.30 / 1686.50 | |
| Change | -2.00 | -0.12% |
| 30daychg | +101.10 | +6.44% |
| 1yearchg | +373.40 | +28.77% |
| Alerts Charts |
Silver Price & PGMs
Mar 09, 2020 10:35 NY TimeKitco 10AM Silver Fix
| Silver | 16.85 | -0.47 |
| Platinum | 867.00 | -36.00 |
| Palladium | 2377.00 | -74.00 |
| Rhodium | 11500.00 | +300.00 |
Click on the metal names to
see the associated charts
(Reuters, Mon. March 9th, 2020) – Wall Street’s main indexes dropped 7% and the Dow Jones Industrials crashed 2,000 points in what would be its biggest one-day fall ever, as trading resumed on Monday following a 22% slump in oil prices.
Trading on U.S. stock exchanges was halted immediately after opening on Monday, as the S&P 500 fell 7%, triggering an automatic 15 minute cutout put in place after the 2008-9 financial crisis.
Saudi Arabia’s move to raise oil production significantly after OPEC’s supply cut agreement with Russia collapsed sent ripples across global financial markets already panicking about the impact of the coronavirus outbreak.
Crude oil logged its worst day in almost three decades, sending oil majors Chevron Corp (CVX.N) and Exxon Mobil Corp (XOM.N) down more than 9%. The energy .SPNY index slumped 20.1%.
Gold Up Slightly as Oil Fears Abound
(Kitco News) – Gold prices are moderately higher in volatile early U.S. futures trading Monday, after hitting a seven-year high above $1,700.00 overnight. Risk aversion is very high to start the trading week. Global stock markets are melting down, while currency and commodity markets are in turmoil. The e-mini S&P stock index futures are locked limit down in overnight trading, which overnight prompted some selling pressure in gold due to the old trading adage that during keen market turmoil, when traders can’t sell what they want they sell what they can. April gold futureswere last up $8.10 an ounce at $1,680.50. May Comex silver prices were last down $0.313 at $16.95 an ounce.
Global stock, commodity and financial markets were jolted overnight following the weekend news that Saudi Arabia said it would drastically lower its crude oil prices and pump more crude oil following a failed OPEC meeting in which Russia refused to lower its crude production. Nymex crude oil prices fell to a four-year low of $27.34 a barrel overnight before coming off those lows but still trading down nearly $9.00 a barrel at around $32.50. The one-day loss in crude oil prices is the biggest in almost 30 years, dating back to the 1991 first gulf war.
Global stock markets sold off sharply overnight and the U.S. stock index futures are pointed toward sharply lower to limit-down price moves when the New York day session opens.
The benchmark 10-year U.S. Treasury note saw its yield dive to a record low of 0.387% overnight, and its currently trading around 0.5%. The U.S. 30-year Treasury bond’s yield dropped below 1.0% overnight. U.S. Treasury bond futures overnight at one point saw prices trade over 13 points higher. For perspective, a one-point move in T-Bond prices (32/32) is normally consider a big move.
Posted By :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com