Commodity Blog

Commodity news, technical and fundamental analysis, market data on precious metals, energies, industrial metals, and soft commodities


Gold & Silver Gain, Rally in Danger

July 22, 2014 at 22:59 by Vladimir Vyun

Gold and silver ticked up at the current trading session after falling at the previous session. Geopolitical risks continue to feed demand for safe assets, supporting precious metals. The conflict in Gaza continues, while international investigators are trying to determine the cause of Malaysian plane’s crash over Ukraine.

Yet there is still a danger for the metals’ rally in form of speculations about possible future moves of the US Federal Reserve. Today’s economic reports from the United States were mostly good, suggesting that the Fed may start monetary tightening sooner. Such outlook may be very detrimental to the metals in the long run, especially in case geopolitical tensions ease and risk premium fades.

December futures for delivery of gold edged up 0.11 percent to $1,309.50 per troy ounce as of 22:54 GMT on COMEX today following the drop by 0.9 percent earlier. September futures for silver rose a little by 0.1 percent to $21.02 per ounce.

If you have any questions and comments on the commodities today, use the form below to reply.

Leave a Reply