Live Spot Gold
SPOT MARKET IS OPEN
closes in 6 hrs. 13 mins.Apr 24, 2020 10:47 NY Time
| Bid/Ask | 1723.80 / 1724.80 | |
| Low/High | 1710.20 / 1739.50 | |
| Change | -8.80 | -0.51% |
| 30daychg | +110.90 | +6.88% |
| 1yearchg | +447.80 | +35.09% |
| Alerts Charts |
Silver Price & PGMs
Apr 24, 2020 10:47 NY TimeKitco 10AM Silver Fix
| Silver | 15.18 | -0.06 |
| Platinum | 760.00 | -9.00 |
| Palladium | 1928.00 | +24.00 |
| Rhodium | 4500.00 | 0.00 |
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see the associated charts
Global stock markets were mostly weaker in overnight trading. U.S. stock indexes are pointed toward firmer openings when the New York day session begins. The U.S. Congress has just passed another nearly $500 billion aid package for U.S. businesses damaged by the Covid-19 pandemic. This week the total number of unemployed Americans surpassed 25 million, based on weekly jobless claims reports.
In overnight news, Germany’s closely watched Ifo business sentiment index fell to a record low of 74.3 in April from 85.9 in March. German companies “have never been so pessimistic about the coming months,” said an Ifo official.
(Kitco News) – Gold and silver prices are higher in early U.S. trading Friday, supported by ongoing safe-haven demand amid the coronavirus pandemic that continues to sap the life out of the global economy. The bullish technical, especially for gold, continue to invite the chart-based buyers, suggesting still more upside in the near term. June gold futures were last up $11.40 an ounce at $1,756.80. May Comex silver prices were last up $0.113 at $15.47 an ounce.
China’s central bank on Friday cut the rate charged on its targeted medium-term lending facility by 20 basis points, to 2.95%. The move was expected.
The other important outside markets today see Nymex crude oil futures higher and trading around $17.00 a barrel, following a strong two-day rally that appears to have stabilized the market. The U.S. dollar index is near steady but the greenback bulls remain strong. The 10-year U.S. Treasury note yield is trading around 0.6% this morning.
U.S. economic reports due for release Friday include the durable goods orders report and the University of Michigan consumer sentiment survey.
Technically, the gold bulls have the solid overall near-term technical advantage and have gained more power late this week. Bulls’ next upside price objective is to produce a close in June futures above solid resistance at $1,800.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at this week’s low of $1,666.20. First resistance is seen at $1,768.00 and then at the April high of $1,788.80. First support is seen at the overnight low of $1,730.60 and then at $1,700.00.
May silver futures bulls have gained the slight overall near-term technical advantage. Silver bulls’ next upside price objective is closing prices above solid technical resistance at the April high of $16.30 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at $14.00. First resistance is seen at this week’s high of $15.72 and then at $16.00. Next support is seen at Thursday’s low of $15.205 and then at $15.00.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com