The team at Gainesville News is dedicated to bringing you relevant updates and analysis about the precious metals markets, as well as news in the broader financial markets. Our reporting reflects the crucial—and often overlooked—role that gold, silver, platinum and palladium play in the global economy, and how these metals interact with other assets and economic developments. We want to empower our readers with the latest information and industry perspectives on important events affecting the markets. We also provide occasional stories concerning geopolitics, important domestic developments, and other topics of interest. We always strive for objectivity and accuracy. Due to their diverse knowledge and professional backgrounds, our contributors also share their opinions where such insights may apply.
Each of the precious metals lost ground Wednesday as the dollar continued to rally. Markets were still way of possible steps toward a trade war, yet crude oil prices surged higher.
After the dreaded "death cross" formation appeared on technical charts, gold prices sank to a six-month low below $1,260 per ounce on Tuesday. The other precious metals also fell while stocks looked to recover.
Spot gold touched as high as $1,270 per ounce before falling back to about unchanged Monday. Wall St opened lower while government bonds were largely steady around the globe.
The unique example of a 1792 gold coin owned by George Washington himself is coming to public auction in August for the first time since 1890. The coin was part of the legendary Eric P. Newman Collection.
Turkey has joined several other countries that are seeking to repatriate their sovereign gold held by the Federal Reserve in the United States. Does this paint a bleak future for the dollar as the world's reserve currency?
Crude oil prices rallied Friday after OPEC reached an agreement to increase production, but only modestly. Spot gold held mostly unchanged at $1,267 per ounce in early trading.
Gold prices continued to dwindle lower Thursday. The yellow metal traded below $1,265 per ounce when markets opened in New York. Oil prices tumbled and the Dow Jones index approached its eighth straight day of losses.
A strong dollar continued to weigh on precious metal prices, but spot gold managed to hang around $1,275/oz Wednesday morning. Stocks on Wall St looked to break their losing streak as demand for bonds took a breather.
The precious metals fell again when markets opened in New York on Tuesday morning. Gold briefly touched as low as $1,270 per ounce while platinum sank to its lowest level so far in 2018.
The precious metals all posted significant losses on Friday, pushing the gold price to its lowest level of 2018. Spot gold opened about unchanged at $1,280 per ounce Monday morning.