GOLD SPOT MARKET IS OPEN
closes in 2 hrs. 2 mins.
Oct 14, 2019 14:58 NY Time
Bid/Ask
1491.10 / 1492.10
+3.20
+0.22%
1yearchg
+273.60
+22.47%
Low/High
1485.10 / 1497.70
Change
+2.30
+0.15
30 day chg
+3.20
+0.22%
1yearchg
+273.60
+22.47%
Charts
Silver Price & PGMs
Oct 14, 2019 14:58 NY Time
Kitco 10AM Silver Fix
Silver
17.62
+0.11
Platinum
891.00
-3.00
Palladium
1687.00
+5.00
Rhodium
4900.00
0.00
(Kitco, Mon. Oct. 14th, 2019 – Gold and silver prices are moderately higher in midday U.S. trading Monday, on some safe-haven demand as trader and investor risk aversion is a bit keener to start the trading week. December gold futures were last up $7.10 an ounce at 1,495.80. December Comex silver prices were last up $0.116 at $17.66 an ounce.
The shine of last Friday afternoon’s U.S.-China “Phase 1” trade agreement has quickly worn off. After having the weekend to ponder the matter traders and investors now reckon the agreement is fraught with potholes that are likely derail it. There are now reports China wants more talks before even signing the Phase 1 agreement. “The devil is in the details,” as the saying goes.
Also, the optimism expressed late last week regarding a U.K.-European Union agreement on Brexit has dimmed.
There was more dour economic news coming out of China to start the trading week. China’s exports to the U.S. dropped 22% in September, year-on-year. China’s total exports fell 3.2% in the month. China’s total imports in September were down 8.5%.
All of the above are producing some new safe-haven demand for the gold and silver markets.
Nymex crude oil prices are solidly lower and trading around $53.00 a barrel today. The other key “outside market” sees the U.S. dollar index moderately up in midday U.S. trading.
There were no major U.S. economic data released Monday, as banks and the U.S. government are closed for the Columbus Day holiday.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com