Daily Market Update

GoldCore Precious Metals Update

With the Federal Open Market Committee (FOMC) stating that they are going to keep US interest rates at a low level and continue quantitative easing, the dollar is under fire today. It has slipped against the six major currency pairs and gold is taking up the slack. In the meantime, gold has pared back some of its early week losses and is currently trading at $953/oz, up from a low of $941/oz yesterday. The US dollar Index has fallen to 78.69 and the next level of support is 77.50 and then 76.0. Should the dollar fall below 76.0 we could see a further dollar decline back to the record low of 71.33 in April 2008. However, we could see another dollar rally prior to a further decline in its value.

Silver has also rebounded and is already up $0.21/oz this morning. It is currently trading at $14.74/oz.

Platinum Group Metals
Platinum is currently trading at $1,257/oz, palladium has moved up slightly to $270/oz and rhodium is $1,625/1,725/oz.

Mark OByrne


Gold’s Time Is Nigh

Gold and Silver Bullion - News and Commentary Gold little changed amid firm dollar (Reuters.com) Bitcoin Futures Trading Brings Crypto Into Mainstream (Reuters.com) Bitcoin exchange warns customers of system collapse if prices crash (CityAM.com) Investors Told to Brace for Steepest Rate[...]


98,750,067,000,000 Reasons to Be Worried About 2018

Gold and Silver Bullion - News and Commentary Gold inches up from near five-month low ahead of Fed meeting (Reuters.com) Gold slightly higher ahead of Fed meeting (Reuters.com) Asia shares take breather, Brent oil breaks above $65 (Reuters.com) Asia Stocks Mixed[...]


Gold and Silver Bullion – News and Prices

Gold and Silver Bullion - News and Commentary Asian Stocks Fall as Miners Decline; Yen Gains (Bloomberg.com) Gold prices ease despite slightly weaker dollar (Reuters.com) Bitcoin Hits New All-Time High Above $12,250 (GoldSeek.com) Don’t Expect Gold to Go Wild Next Year[...]