For the first time ever, the London Bullion Market Association (LBMA) will begin publishing more comprehensive data on the size of London's bullion market, where billions of dollars of gold are traded each day.
Tuesday was a rather slow day for international markets. With no fresh news to digest, the precious metals market slumped in early trading. The silver price may dip below $14/oz by the end of the session.
Global equities rebounded to start the week, but gold prices also jumped higher when markets opened on Monday. The yellow metal traded back near $1,200 per ounce.
The precious metals sank Friday right along with the stock markets thanks to nonfarm payrolls beating expectations and steeper wage growth. This increases the likelihood of more rate hikes from the Federal Reserve.
More trouble for emerging markets helped lift the precious metals modestly Thursday morning. Initial jobless claims hit nearly a five-decade low while the monthly nonfarm payrolls will be reported Friday.
Trade war fears reared their ugly head again Wednesday, driving global stocks and most emerging markets lower. The dollar also fell, which provided a modest lift to the precious metals.
The precious metals plunged at the opening bell Tuesday as U.S. markets reopened following the Labor Day holiday. Trade tensions rocked emerging markets, driving the dollar higher at the expense of gold and silver.
Global stocks traded lower for the second straight day heading into the long holiday weekend due to Labor Day. Meanwhile, the precious metals were mostly unchanged in early trading.
Core inflation hit the 2.0% milestone in the U.S. and Germany, but the precious metals were mostly unchanged in early trading Thursday. Stocks in the U.S. traded at all-time highs but markets fell in Europe.
After falling late in the afternoon Tuesday, the precious metals inched higher again amid choppy trading Wednesday morning. Bond yields were mostly unchanged while stocks continued to rally.