Live Spot Gold
SPOT MARKET IS OPEN
closes in 7 hrs. 40 mins.Oct 15, 2020 09:20 NY Time
| Bid/Ask | 1895.00 / 1896.00 | |
| Low/High | 1888.90 / 1904.50 | |
| Change | -6.20 | -0.33% |
| 30daychg | -58.00 | -2.97% |
| 1yearchg | +414.30 | +27.98% |
| Alerts Charts |
Silver Price & PGMs
Oct 15, 2020 09:20 NY TimeKitco 10AM Silver Fix
| Silver | 23.68 | -0.58 |
| Platinum | 836.00 | -20.00 |
| Palladium | 2224.00 | -26.00 |
| Rhodium | 10800.00 | 0.00 |
(Reuters, Thurs. Oct 15th, 2020) – Stocks slumped around the world as Europe’s biggest cities clamped down to curb the coronavirus amid waning prospects for more economic stimulus. Treasuries and the dollar rallied.
S&P 500 futures remained lower after U.S. jobless claims posted an unexpected increase to the highest level since late August. Some of the largest technology companies such as Apple Inc. and Tesla Inc. tumbled in premarket trading. Morgan Stanley was little changed even after a surge in profit, while Walgreens Boots Alliance Inc. climbed as the drugstore giant posted stronger-than-expected results.
GOLD, SILVER DOWN, USDX UP
(Kitco News, Thursday. Oct. 15th, 2020)- – Gold and silver futures prices are lower in early U.S. trading Thursday, once again being pushed down by a higher U.S. dollar index on this day. Both metals continue to act like raw commodities instead of safe-haven assets, as evidenced by losses in global stock markets today appearing to be another bearish element for the metals. December gold futures were last down $10.30 at $1,897.00 and December Comex silver was last down $0.455 at $23.94 an ounce.
Global stock markets were mostly down overnight. U.S. stock indexes are set to open the New York day session solidly lower. The worrisome spread of the Covid-19 virus in major industrialized countries and elsewhere, with Europe getting hit extra hard, has traders and investors in more risk averse modes late this week. France declared a state of emergency on Wednesday, regarding the spreading virus.
Reports Wednesday the U.S. Congress is nowhere close to a second, new major stimulus package for Americans has also dampened trader and investor sentiment. The marketplace is also getting a bit more jittery ahead of the U.S. elections in less than three weeks.
Reports this week say China is looking to punish foreign nations and companies by restricting their access to rare earth minerals. The National People’s Congress is expected to review draft legislation on the matter ahead of its potential decree and implementation next year. The law would be a serious threat to western manufacturers, even though China has been limiting the availability of key rare earth minerals for some time by using export quotas and selling mainly to companies with manufacturing bases in China.
The important outside markets early today see the U.S. dollar index higher. Nymex crude oil prices are lower and trading around $40.00 a barrel. The yield on the benchmark U.S. 10-year Treasury note is 0.698% today.
The weekly U.S. jobless claims will be in focus during the U.S. trading session, with new claims seen at around 830,000 in the latest week.
Other U.S. economic data due for release Thursday includes the Empire State manufacturing survey, the Philadelphia Fed business survey, the weekly DOE liquid energy stocks report and import and export prices.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com