Live Spot Gold
SPOT MARKET IS OPEN
closes in 5 hrs. 38 mins.Feb 21, 2020 11:22 NY Time
| Bid/Ask | 1642.40 / 1643.40 | |
| Low/High | 1625.30 / 1650.10 | |
| Change | +23.20 | +1.43% |
| 30daychg | +83.90 | +5.38% |
| 1yearchg | +319.40 | +24.14% |
| Alerts Charts |
Silver Price & PGMs
Feb 21, 2020 11:22 NY TimeKitco 10AM Silver Fix
| Silver | 18.48 | +0.15 |
| Platinum | 976.00 | -2.00 |
| Palladium | 2590.00 | 0.00 |
| Rhodium | 11100.00 | +100.00 |
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see the associated charts
(Kitco News) – Gold and silver prices are solidly up in early U.S. futures trading Friday. Gold notched another seven-year high, while silver hit a six-week high, on safe-haven demand as the negative effects of the coronavirus outbreak on the global economy remain highly uncertain but appear to be increasing. April gold futures hit a new contract high overnight and were last up $17.10 an ounce at $1,637.60. March Comex silver prices were last up $0.161 at $18.48 an ounce.
Asian and European shares were mostly down overnight. U.S. stock indexes are pointed toward weaker openings when the New York day session begins. Risk-off trading attitudes are keen as the trading week winds down, as the coronavirus continues to spread in Asia, and its impact on the global economy is perceived to be getting much more serious.
Reports overnight said China’s auto sales fell over 90% in February as coronavirus restrictions prevented buyers from visiting car dealerships. Over 21 million autos were sold in China in 2019, making China the world’s largest auto market. The Hubei province is still in lock-down and officials there have pushed back the date for businesses to reopen to 10 March. That date could be further delayed if covid-19 is not contained by then.
China recorded over 800 new cases Thursday (up from around 400 Wednesday), with the total number of afflicted now at over 75,000 and over 2,200 dead. South Korea has reported over 200 confirmed covid-19 cases. The capital has banned all rallies in major downtown areas.
Manufacturing indexes from the major world economies are starting to show the negative effects of the covid-19 outbreak. U.S. companies are also mentioning the illness as impacting their bottom lines when earnings reports are released.
The key outside markets today see crude oil prices lower and trading around $53.00 a barrel. Meantime, the U.S. dollar index is weaker on a corrective pullback after hitting a multi-month high Thursday.
U.S. economic data due for release Friday includes the US flash manufacturing PMI, the services PMI, and existing home sales.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com