Live Spot Gold
SPOT MARKET IS CLOSED
opens in 2 hrs. 45 mins.
Jan 20, 2020 12:59 NY Time
| Bid/Ask | 1560.40 / 1561.40 | |
| Low/High | 1558.30 / 1563.50 | |
| Change | +3.70 | +0.24% |
| 30daychg | +82.00 | +5.55% |
| 1yearchg | +279.10 | +21.78% |
| Alerts Charts |
Silver Price & PGMs
Jan 20, 2020 12:59 NY Time Kitco 10AM Silver Fix
| Silver | 18.03 | +0.03 |
| Platinum | 1017.00 | -5.00 |
| Palladium | 2414.00 | +119.00 |
| Rhodium | 8400.00 | +700.00 |
Click on the metal names to
see the associated charts
(Kitco, Jan. 20th. 2020) – Gold prices are on track for another rally into the $1,700 an ounce price range on the back of frothy equity markets, this according to Patrick Ceresa, founder and chief market derivatvies strategist at Big Picture Trading.
“I feel that generally, the bull trend for gold is intact as long as gold can hold above $1,500 during this consolidation that we’re in. If that’s the case, then this is actually a compelling buy on dip on gold for a move towards $1,700,” Ceresna told Kitco News on the sidelines of the Vancouver Resource Investment Conference.
On equities, Ceresna said the S&P 500 is due for a 200 to 300 point drop this quarter.
The market is keeping a close eye on palladium as the metal continues its parabolic rise, writes TD Securities. “In the midst of MLK day trading, the market will be keeping a close eye on the palladium market, whose parabolic rise continues to see prices print new all-time highs,” strategists at TD Securities says. “While PGM prices have been rising in tandem, with palladium trading parabolically and platinum printing highs not seen since 2017, their positioning dynamics are diverging.” Palladium’s fundamentals point to even higher prices going forward. “We reiterate that palladium’s particularly strong fundamentals suggest that it can continue to trade far beyond cost-dynamics, and given that speculative length remains a minor risk, we see a smaller risk for a sharp decline in prices than the counterfactual,” the strategists add.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com