Live Spot Gold
SPOT MARKET IS OPEN
closes in 5 hrs. 27 mins.Jan 21, 2020 11:33 NY Time
| Bid/Ask | 1556.50 / 1557.50 | |
| Low/High | 1545.80 / 1568.00 | |
| Change | -3.90 | -0.25% |
| 30daychg | +78.10 | +5.28% |
| 1yearchg | +276.90 | +21.64% |
| Alerts Charts |
Silver Price & PGMs
Jan 21, 2020 11:33 NY TimeKitco 10AM Silver Fix
| Silver | 17.79 | -0.23 |
| Platinum | 1004.00 | -13.00 |
| Palladium | 2328.00 | -86.00 |
| Rhodium | 8900.00 | +500.00 |
Click on the metal names to
see the associated charts
(Kitco, Jan. 21st, 2020) – Gold and silver prices are modestly down in early U.S. futures trading Tuesday. The precious metals market bulls taking a breather amid some consolidation and backing and filling on the charts. Don’t be surprised to see bulls step in to “buy the dip” in prices, as there is some risk aversion in the world marketplace this week. February gold futures were last down $4.40 an ounce at 1,555.90. March Comex silver prices were last down $0.073 at $17.995 an ounce.
Asian and European stock markets were weaker overnight. U.S. stock indexes are pointed toward modestly lower openings when the New York day session begins.
There is keener risk aversion in the marketplace to start the U.S. trading week Tuesday, following the Martin Luther King holiday Monday. China is now battling a coronavirus that has killed at least four with hundreds more afflicted, and is rapidly spreading. The illness, which is apparently easily contracted, is being compared with the SARS virus killed hundreds 17 years ago. Would-be travelers in China and Asia are now likely to at least curtail their activities.
There is also focus on the World Economic Forum annual meeting in Davos, Switzerland. President Trump delivered an address to the group Tuesday, mostly touting U.S. economic growth during his administration’s tenure.
At the Davos confab, the International Monetary Fund released a report that forecast global economic growth at 3.3% in 2020 and 3.4% in 2021. Those figures compare with world economic growth of 2.9% in 2019.
Respected Bridgewater Associates fund manager Ray Dalio said at the Davos confab that gold should be part of an investor’s portfolio due to the uncertainties in the global marketplace that could derail the bull run in equities.
In other news, the closely watched German ZEW economic expectations index came in at 26.7 in January versus 10.7 in December, and better than forecasts. The reading in January was the highest in 4.5 years.
The markets are so far paying very little attention to the impeachment process of President Trump. The U.S. Senate this week will debate Trump’s trial parameters, with the trial itself likely starting afterward.
The key outside markets today see crude oil prices down and trading around $58.00 a barrel. The U.S. dollar index is slightly down early today.
There is no major U.S. economic data due for release Tuesday.
Posted By :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com