Live Spot Gold
SPOT MARKET IS OPEN
closes in 5 hrs. 20 mins.Feb 08, 2021 11:40 NY Time
| Bid/Ask | 1834.50 / 1835.50 | |
| Low/High | 1806.60 / 1840.10 | |
| Change | +19.30 | +1.06% |
| 30daychg | -15.50 | -0.84% |
| 1yearchg | +264.50 | +16.85% |
| Alerts Charts |
Silver Price & PGMs
Feb 08, 2021 11:40 NY TimeKitco 10AM Silver Fix
| Silver | 27.41 | +0.68 |
| Platinum | 1160.00 | +37.00 |
| Palladium | 2263.00 | -11.00 |
| Rhodium | 19300.00 | +300.00 |
(Kitco News) – Gold and silver futures prices are trading higher in early U.S. dealings Monday, as some perceived bargain-basement buying is featured to start the trading week after both metals suffered significant losses last week. April gold futures were last up $10.70 at $1,823.70 and March Comex silver was last up $0.186 at $27.20 an ounce.
Global stock markets were mostly higher overnight, with Asian stock indexes near record highs. U.S. stock indexes are pointed toward higher openings and record highs when the New York day session begins. Trader and investor attitudes remain “risk on” to start the trading week.
“Slowing coronavirus infections, continued rollout of vaccines and anticipation of President Biden’s $1.9 trillion rescue package are keeping the bull market well and truly alive,” said one broker in a morning email dispatch. U.S. Treasury secretary Janet Yellen said Sunday the U.S. economy could see full employment by 2022 if Congress passes the proposed stimulus package.
In other overnight news, Bitcoin-U.S. dollar prices are sharply higher and hit a new all-time high above $42,000 in early U.S. trading. The BC bulls got an electric jolt to the upside when it was just announced that Tesla has invested $1.5 billion in Bitcoin and that the electric vehicle maker will incorporate Bitcoin into its operation. Gold prices also pushed higher about the same time the Tesla news came out.
The key “outside markets” today see the U.S. dollar index firmer after hitting a two-month high late last week. The greenback is trending higher and many of the other major currencies are in near-term price downtrends now. Meantime, Nymex crude oil futures prices are higher, hit a 13-month high overnight, and are trading around $57.60 a barrel. Brent crude oil futures pushed above the $60.00 level overnight. The yield on the benchmark 10-year U.S. Treasury note stands at 1.195%, a post-pandemic high.
U.S. economic data due for release Monday is light and includes the employment trends index.
![Live 24 hours gold chart [Kitco Inc.]](https://www.kitco.com/images/live/gold.gif?0.2924175530478188)
Technically, the February gold futures bears have the overall near-term technical advantage amid a four-week-old price downtrend in place on the daily chart. Bulls’ next upside price objective is to produce a close in February futures above solid resistance at $1,878.80. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the November low of $1,771.30. First resistance is seen at $1,835.70 and then at $1,850.00. First support is seen at today’s low of $1,807.30 and then at $1,804.70.
![Live 24 hours silver chart [ Kitco Inc. ]](https://www.kitco.com/images/live/silver.gif)
March silver futures bulls have the overall near-term technical advantage. Silver bulls’ next upside price objective is closing prices above solid technical resistance at the January high of $28.105 an ounce. The next downside price objective for the bears is closing prices below solid support at $25.00. First resistance is seen at the overnight high of $27.40 and then at $27.635. Next support is seen at the overnight low of $26.93 and then at $26.50
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com