Live Spot Gold
SPOT MARKET IS OPEN
closes in 5 hrs. 34 mins.Feb 27, 2020 11:26 NY Time
| Bid/Ask | 1647.20 / 1648.20 | |
| Low/High | 1641.00 / 1661.20 | |
| Change | +6.40 | +0.39% |
| 30daychg | +80.40 | +5.13% |
| 1yearchg | +327.80 | +24.84% |
| Alerts Charts |
Silver Price & PGMs
Feb 27, 2020 11:26 NY TimeKitco 10AM Silver Fix
| Silver | 17.81 | -0.09 |
| Platinum | 903.00 | -9.00 |
| Palladium | 2676.00 | +5.00 |
| Rhodium | 11200.00 | 0.00 |
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see the associated charts
(Kitco News, Thurs. Feb. 27th, 2020) – Gold and silver prices are posting good gains in early U.S. futures trading Thursday, as bargain hunters have stepped in to buy this week’s big dip in prices. Also, it appears traders and investors are once again doing some safe-haven buying amid the coronavirus fears. April gold futures were last up $12.60 an ounce at $1,655.80. March Comex silver prices were last up $0.196 at $18.03 an ounce.
Global stock markets were lower overnight and are now down over – (900) points again as the coronavirus outbreak continues to spread and trader and investor fears continue to rise. The outbreak will significantly impact global growth for at least the first quarter of 2020, and maybe beyond. Prognosticators are trying to gauge the ultimate impact of the illness on the world economy but nobody really has a clue on the matter. That uncertainty is what is roiling the markets at present, and will likely continue to do so for the near term. U.S. stock indexes were pointed toward sharply lower openings this morning as the New York day session is now well underway at mid – morning , Thursday Feb. 27th, 2020.
President Trump held a news conference Wednesday evening and named Vice President Pence as heading up the U.S. effort to combat the illness and its spread. Trump also said he thinks U.S. equities are selling off because of the socialist-leaning Democratic presidential candidates.
The yield on the benchmark U.S. Treasury 10-year note on Thursday fell to a record low of
1.29%. There’s an old market adage that “the bond market knows and stock traders are schmoes.” U.S. Treasury yields started falling last week, before the big sell off in the global stock markets. What the U.S. Treasury market is telling traders and investors now is that serious economic damage will be inflicted by the coronavirus—both at home and abroad, including the possibility of a U.S. recession on the horizon.
Most market watchers now expect future easing of monetary policies by the major central banks of the world, to stimulate their economies and help ward off the negative economic impacts of the coronavirus outbreak.
Nymex crude oil prices lower, at a 14-month low, and trading around $47.60 a barrel in early trading Thursday. The U.S. dollar index is trading down today.
U.S. economic data due for release Thursday includes the weekly jobless claims report, the second estimate of fourth-quarter gross domestic product, pending homes sales, the Kansas City Fed manufacturing survey, and durable goods orders.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com