Live Spot Gold
SPOT MARKET IS OPEN
closes in 6 hrs. 23 mins.Aug 04, 2020 10:37 NY Time
| Bid/Ask | 1986.20 / 1987.20 | |
| Low/High | 1968.80 / 1989.30 | |
| Change | +8.50 | +0.43% |
| 30daychg | +211.80 | +11.94% |
| 1yearchg | +546.20 | +37.93% |
| Alerts Charts |
Silver Price & PGMs
Aug 04, 2020 10:37 NY TimeKitco 10AM Silver Fix
| Silver | 25.00 | +0.68 |
| Platinum | 926.00 | +12.00 |
| Palladium | 1986.00 | +8.00 |
| Rhodium | 6950.00 | 0.00 |
Click on the metal names to
see the associated charts
(Kitco News, Tues. Aug. 4th, 2020) – Gold prices are slightly higher in early U.S. trading Tuesday, on a normal pause after Monday hitting a record high of $1,997.00, basis October Comex futures. Silver prices are a bit weaker following good gains scored Monday. October gold futures were last up $2.80 an ounce at $1,977.50. September Comex silver prices were last down $0.047 at $24.365 an ounce.
Gold and silver are continuing to see support from safe-haven demand amid the worrisome rise in Covid-19 infections, geopolitics and concerns about problematic price inflation in the coming months.
Global stock markets were mixed in overnight trading. The U.S. stock indexes are pointed toward modestly weaker openings when the New York day session begins.
“Most Americans will be blindsided by what’s about to happen,” says Dr. Ron Paul, the former U.S. Presidential candidate and Congressional veteran.
In overnight news, the central bank of Australia kept its monetary policy unchanged, but the bank said monetary stimulus and low interest rates will be required for some time to come.
The key U.S. data point of the week will be Friday’s jobs report for July from the Labor Department. The non-farm payrolls number is forecast to be up by around 1.25 million after rising by 4.8 million in June. However, don’t be surprised to see a miss from the forecasts, to likely move the markets.
The important outside markets today see Nymex crude oil prices weaker and trading around $40.25 a barrel. The crude oil market bulls have seen their price uptrend on the daily chart stall out and turn into sideways and choppy trading. The U.S. dollar index is weaker today. The yield on the benchmark 10-year U.S. Treasury note is presently around 5.4%.
U.S. economic data due for release Tuesday includes the weekly Goldman Sachs and Johnson Redbook retail sales reports, the ISM New York report on business, the IBD/TIPP economic optimism index, and manufacturers’ shipments and inventories.
![Live 24 hours gold chart [Kitco Inc.]](https://www.kitco.com/images/live/gold.gif?0.2924175530478188)
Technically, the gold bulls have the strong overall near-term technical advantage. Bulls’ next upside price objective is to produce a close in October futures above solid resistance at $2,000.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,900.00. First resistance is seen at the overnight high of $1,984.90 and then at Monday’s record high of $1,997.00. First support is seen at Monday’s low of $1,963.50 and then at $1,950.00.
![Live 24 hours silver chart [ Kitco Inc. ]](https://www.kitco.com/images/live/silver.gif)
September silver futures bulls have the strong overall near-term technical advantage. Silver bulls’ next upside price objective is closing prices above solid technical resistance at this week’s high of $26.275 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at $22.00. First resistance is seen at $25.00 and then at Monday’s high of $25.275. Next support is seen at $24.00 and then at last Friday’s low of $23.41.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com