Live Spot Gold
SPOT MARKET IS OPEN
closes in 3 hrs. 58 mins.Mar 26, 2020 13:02 NY Time
| Bid/Ask | 1633.20 / 1634.20 | |
| Low/High | 1586.60 / 1656.40 | |
| Change | +20.30 | +1.26% |
| 30daychg | -1.40 | -0.09% |
| 1yearchg | +318.00 | +24.18% |
| Alerts Charts |
Silver Price & PGMs
Mar 26, 2020 13:02 NY TimeKitco 10AM Silver Fix
| Silver | 14.56 | +0.04 |
| Platinum | 732.00 | -4.00 |
| Palladium | 2258.00 | -22.00 |
| Rhodium | 6500.00 | +500.00 |
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(Kitco, Thurs. March 26th, 2020)- Gold prices are trading solidly up in midday U.S. trading Thursday, on some safe-haven demand and some chart-based buying despite strong gains in the U.S. stock market. Reason: The gold bulls are this week more confident to get out of some cash and do some buying of the safe-haven metal, still reckoning there will be rough seas ahead in the marketplace in the coming weeks, or longer. April gold futures were last up $15.50 an ounce at $1,648.70. May Comex silver prices were last down $0.163 at $14.71 an ounce.
Traders and investors quickly brushed off Thursday morning’s weekly jobless claims report, which showed a shocking rise of 3.2 million claims, which was larger than expected, but still not big surprise. This weekly report was the first one to more fully reflect a U.S. economy that has been severely crippled by the closure of most retail stores across the nation due to the coronavirus outbreak that continues to spread rapidly in the U.S.
U.S. stock index futures are sharply higher at midday, and if they hold those strong gains into the close it would be an early clue the stock indexes have put in at least near-term bottoms if not major bottoms. Global stock markets were mostly lower in overnight trading.
The U.S. equity market was boosted in part on overnight news the U.S. Senate passed a $2.2 trillion financial aid package for U.S. businesses and citizens negatively impacted by the Covid-19 outbreak. The measure was expected to be passed and now moves to the House of Representatives for a vote.
The important outside markets today see Nymex crude oil prices down and trading around $23.25 a barrel. The U.S. is pressuring Saudi Arabia to hold off on producing more oil that is helping to cripple the U.S. economy. It’s doubtful the Saudis will listen as they hate the U.S. fracking industry. The U.S. dollar index is again sharply lower as greenback bulls are fading fast after the USDX hit a 17-year high earlier this week. The 10-year U.S. Treasury note yield is trading around 0.81% Thursday.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com