NY Mercantile - Delayed Quote USD

Palladium Dec 24 (PA=F)

1,042.00

+16.10

(+1.57%)

As of 1:08 PM EST. Market Open.

Why this platinum bull is bearish on buying bars at Costco

Costco (COST) sells platinum (PL=F) bars on its site, adding to its precious metal bar offerings. The wholesaler made headlines when it started selling physical gold bars to members. The abrdn director of ETF investment strategy Robert Minter, who manages the largest platinum ETF on the market, sits down with Josh Lipton and Jared Blikre on Market Domination Overtime to explain why he views platinum as a solid investment but is skeptical that investors buying bars from Costco will see the gains. “Investment-wise, it's actually a great story. It's just the execution of it that we would really disagree with,” Minter tells Yahoo Finance. He explains that a large portion of platinum demand comes from internal combustion engines and hybrid vehicles. As investors expected consumers to shift to electric vehicles, platinum prices fell, but EV adoption has been weak compared to initial expectations. "People need to do their homework before they buy these Costco or any other warehouse platinum bars. It can be really expensive to sell those at your local metals dealer. It can be upwards of 10% ... I have heard that a lot of people are actually buying the physical metals at a warehouse store to get the 2% cash back from the credit card. So math is your friend here. And 10% is obviously bigger than 2%. So you're going to lose all of it and then some in some transaction fees to sell it.” For those interested in investing in platinum, Minter says ETFs are a better option than purchasing physical bars through Costco. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Naomi Buchanan.

Yahoo Finance Video 30 days ago

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Commodities continue to see upside in first week of Q2 2024

The US dollar is moving higher after March's jobs data released Friday morning. Positive price action is reverberating across the commodity sector, notably cocoa futures (CC=F) and precious metals like gold (GC=F). Yahoo Finance Senior Markets Reporter Jared Blikre reviews the upsides seen across commodities in the first trading week of 2024's second quarter. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Luke Carberry Mogan.

Yahoo Finance Video 7 months ago

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Gold stumbles on strong US data, as traders strap in for more

Gold eased on Wednesday after data showed strong U.S. business activity, even as a weakened dollar limited losses, while investors looked ahead to more economic indicators to assess when the Federal Reserve might first cut interest rates. "Gold prices are pretty insulated from a hawkish repricing in rates markets, because there are signs that investors are historically under-positioned in gold despite markets expecting an imminent start to the Fed's cutting cycle," said Daniel Ghali, commodity strategist at TD Securities. A strong U.S. economy and pushback from central bank officials is leading some investors to rethink their bets on how quickly the Fed will cut rates this year.

Reuters 9 months ago

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Gold edges up as traders eye cues on US rate cuts

Gold prices inched higher on Tuesday, as investors awaited a slew of U.S. economic data this week for more cues to the Federal Reserve's timeline for interest rate cuts. Spot gold was up 0.2% to $2,025.09 per ounce by 2:00 p.m. ET (1900 GMT). Gold futures settled 0.2% higher at $2025.8.

Reuters 9 months ago

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Gold slides on trimmed US rate cut bets, rallying equities

Gold prices eased on Monday as investors rolled back expectations of a U.S. interest rate cut at the end of March, with a surge in equity markets further dampening interest in safe-haven bullion. Spot gold was down 0.5% at $2,020.09 per ounce at 1:49 p.m. ET (1849 GMT). Technical selling and a rally in stock markets are likely the two main factors limiting buying interest in the gold and silver markets, said Jim Wyckoff, senior analyst at Kitco Metals.

Reuters 9 months ago

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Precious Metal Prices Trade Sideways After Short-Lived Rally

The Global Precious Metals MMI saw a slight rise at the end of 2023, but the long-term forecasts for precious metals like gold, silver, palladium, and platinum remain bearish due to the lack of strong bullish momentum.

Oilprice.com 9 months ago

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Gold set for biggest weekly fall in six as rate cut optimism dulls

Gold firmed on Friday but was poised to record its biggest weekly decline in six, as comments from Federal Reserve policymakers through the week lowered expectations of an early rate cut. Spot gold rose 0.2% to $2,027.49 per ounce by 02:02 p.m. ET (1902 GMT), but was down 1% so far in the week. Over the week, the markets have been speculating about the Federal Reserve's timing for rate cuts that has reflected in gold prices, said Bart Melek, head of commodity strategies at TD Securities.

Reuters 9 months ago

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Gold retreats to over one-month low after data dims rate-cut hopes

Gold prices fell to a more than one-month low on Wednesday as strong economic data strengthened dollar and Treasury yields and lowered market expectations of a U.S. rate cut in March. Spot gold was down 1.2% at $2,003.89 per ounce as of 01:55 p.m. ET (1855 GMT), lowest since Dec.13.

Reuters 9 months ago

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GRAPHIC-As price parity beckons, substitution from palladium to platinum to wane

The rate at which platinum is displacing palladium in the manufacture of autocatalysts is slowing due to the sister metals approaching price parity, a trend which is likely to persist through this year, analysts said. Growing use of platinum in autocatalysts that reduce harmful emissions from internal combustion engines and rising sales of battery-powered electric vehicles was behind the 39% slump in palladium prices last year. Around 620,000 ounces of palladium were replaced by platinum in 2023 vs 385,000 ounces in 2022, according to the World Platinum Investment Council's (WPIC) November estimate.

Reuters 10 months ago

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Gold dips over 1% as dollar, yields rise on hawkish remarks by Fed's Waller

Gold prices fell over 1% on Tuesday, pressured by a firmer dollar and higher U.S. Treasury yields after Federal Reserve Governor Christopher Waller's hawkish remarks on interest rate cuts this year, but safe-haven buying limited bullion's downside. Spot gold was down 1.3% at $2,027.26 per ounce as of 2:36 p.m. ET (1936 GMT), after gaining in the previous three sessions. "Strong gains in the U.S. dollar index are pressuring the gold market as well as a rise in U.S. Treasury yields today on this first day back from the three-day holiday weekend," said Jim Wyckoff, senior analyst at Kitco Metals.

Reuters 10 months ago

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Gold rises as safe-haven demand, rate cut bets keep prices elevated

Gold prices advanced on Monday, as the metal's appeal was boosted by safe-haven demand owing to tensions in the Middle East, while markets raised bets that the Federal Reserve will cut rates as soon as March. Spot gold was up 0.2% at $2,052.10 per ounce, as of 10:34 a.m. ET (1534 GMT). The war between Israel and Hamas has passed the 100-day mark as Israel continues its fierce offensive, while the Houthi militia's threat to respond to U.S. air strikes on Yemen kept risks elevated.

Reuters 10 months ago

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Gold retreats to three-week low ahead of US inflation data

Gold prices fell to a three-week low on Monday, pressured by elevated Treasury yields as expectations for an imminent Federal Reserve interest rate cut faded, with investors looking ahead to this week's U.S. inflation data for more clarity. The release on Friday of data showing the U.S. added more jobs in December than expected by economists in a Reuters poll prompted some doubts in financial markets that the U.S. central bank would start cutting interest rates in March. "Maybe that takes some of the rate-cut odds off the table or lowers them to some degree," said Daniel Pavilonis, senior market strategist at RJO Futures.

Reuters 10 months ago

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Gold set for weekly decline as dollar, yields climb

Gold held steady on Friday after swinging up and down a percentage point on mixed U.S. economic data, but bullion eyed its first weekly decline in four weeks on an overall stronger dollar and higher Treasury yields. Prices were set to shed nearly 1% for the week. Official data showed U.S. employers hired more workers than expected in December, but separate data from the Institute for Supply Management (ISM) indicated that the U.S. services sector slowed considerably last month.

Reuters 10 months ago

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Gold gets a breather as US payrolls loom; palladium slips

Gold held steady on Thursday after four sessions of decline as investors braced for the U.S. non-farm payrolls data that could influence the Federal Reserve's interest-rate path, while palladium prices slipped on a dim long-term demand outlook. Spot gold edged up 0.2%, to $2,044.39 per ounce by 2:50 p.m. ET (1950 GMT), a day after hitting its lowest since Dec. 21. "The gold market bulls need a fresh new spark to jump-start a price rally," said Jim Wyckoff, senior analyst at Kitco Metals.

Reuters 10 months ago

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Gold begins new year restrained by stronger dollar

Gold entered 2024 under pressure from a jump in the U.S. dollar, but held its ground on expectations the Federal Reserve will cut interest rates this year and rising concerns over attacks on shipping in the Red Sea. But the possibility of escalation in the Red Sea kept gold prices supported, said Daniel Pavilonis, senior market strategist at RJO Futures. Gold prices surged 13% in 2023 in their first annual rise since 2020 and are forecast to reach record highs in 2024, as lower interest rates reduce the opportunity cost of holding non-yielding bullion.

Reuters 10 months ago

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2023 Was a Bad Year for Commodities

While 2023 hasn’t turned out to be the poor year for stock markets that many market-watchers predicted, commodities have not seen a great year.

Oilprice.com 10 months ago

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Gold to enter 2024 with sights set on record highs

(Reuters) -Gold investors anticipate record high prices next year, when the fundamentals of a dovish pivot in U.S. interest rates, continued geopolitical risk, and central bank buying are expected to support the market after a volatile 2023. "Following on from a surprisingly robust performance in 2023 we see further price gains in 2024, driven by a trifecta of momentum chasing hedge funds, central banks continuing to buy physical gold at a firm pace, and not least renewed demand from ETF investors," Saxo Bank's Ole Hansen said. On Dec. 4, gold hit a record high of $2,135.40 on bets of U.S. monetary policy easing in early 2024 after a perceived dovish tilt from Federal Reserve Chair Jerome Powell, surpassing the previous record scaled in 2020.

Reuters 10 months ago

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Gold sits above $2,000 on track for best year since 2020

Gold prices traded around steady on Friday as they headed towards the end of their best year since 2020 at levels comfortably above $2,000 an ounce, buoyed by hopes the U.S. Federal Reserve could cut interest rates as early as March. "The ship is moving towards calmer waters, so to speak - a lower rate environment, which means a lower dollar, and so gold should do better," Marex analyst Edward Meir said. Gold investors anticipate record-high prices next year, when the fundamentals of a dovish pivot in U.S. interest rates, continued geopolitical risk and central bank buying are expected to support the market.

Reuters 10 months ago

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Gold eases after hitting 3-week high as dollar, US yields rise

Gold prices eased on Thursday, after hitting a more than three-week high earlier, as an uptick in the U.S. dollar and Treasury yields undermined the support from expectations of rate cuts by the Federal Reserve early next year. "There's not a lot of trading volume right now in any of the markets so that usually causes smaller moves, especially when we're approaching a big number like an all-time high," said Chris Gaffney, president of world markets at EverBank. "The reason prices have gone back near the horizon and rallied again towards the end of the year is all about interest rate expectations and a weaker dollar."

Reuters 10 months ago

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Gold hits three-week high on hopes of US Fed cutting rates

Gold scaled a three-week peak on Wednesday as traders bought zero-yield bullion in anticipation of U.S. interest-rate cuts next year, while a dip in the dollar and bond yields also supported prices. Spot gold was up 0.5%, at $2,076.45 per ounce - its highest since Dec. 4 - by 2:10 p.m. ET (1910 GMT) and on track to gaining nearly 14% in 2023, if gains hold. U.S. gold futures settled 1.1% higher, at $2,093.10.

Reuters 10 months ago

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Palladium Dec 24 (PA=F)

Why this platinum bull is bearish on buying bars at Costco

Commodities continue to see upside in first week of Q2 2024

Gold stumbles on strong US data, as traders strap in for more

Gold edges up as traders eye cues on US rate cuts

Gold slides on trimmed US rate cut bets, rallying equities

Precious Metal Prices Trade Sideways After Short-Lived Rally

Gold set for biggest weekly fall in six as rate cut optimism dulls

Gold retreats to over one-month low after data dims rate-cut hopes

GRAPHIC-As price parity beckons, substitution from palladium to platinum to wane

Gold dips over 1% as dollar, yields rise on hawkish remarks by Fed's Waller

Gold rises as safe-haven demand, rate cut bets keep prices elevated

Gold retreats to three-week low ahead of US inflation data

Gold set for weekly decline as dollar, yields climb

Gold gets a breather as US payrolls loom; palladium slips

Gold begins new year restrained by stronger dollar

2023 Was a Bad Year for Commodities

Gold to enter 2024 with sights set on record highs

Gold sits above $2,000 on track for best year since 2020

Gold eases after hitting 3-week high as dollar, US yields rise

Gold hits three-week high on hopes of US Fed cutting rates