Jon Nadler, Kitco Metals Inc.

Precious Metals CommentarySpot dealings opened with lower prices in all but palladium this morning in New York. Gold lost $9 to be bid at $1,618 per ounce while silver declined 42 cents to the $28.32 mark per ounce. Platinum fell $2 to $1,478 the ounce while palladium bucked the trend and climbed $1 to $626 per ounce…

Background market indications showed the US dollar rising 0.65% on the trade-weighted index (to 81.88) while crude oil […]


Precious Metals CommentaryVolatility and indecision patterns dominated Thursday’s trade in gold and silver while platinum and palladium posted solid gains on the session.

The yellow metal darted back and forth from gains to losses and traded over a relatively wide, $20 range as market participants attempted to capitalize on the most recent increase in jobless claims, then on the hefty decline in US May consumer prices, and finally on the continuing flow of euro crisis-related news […]


Precious Metals CommentaryThe midweek session in precious metals opened with some price softness across the complex but the situation soon shifted a bit towards the firmer side of prices (at least in gold which rose to near $1,620 an ounce) as poor US May retail sales data once again rekindled QE "Fedspectations" in the speculative crowd…

Silver, which briefly touched just above $29 but was last seen nearly unchanged, at that same figure. More on silver and on gold from both a technical as well as supply/demand perspective follows later […]


Precious Metals CommentaryFriday’s last minute "I won’t go home flat just in case" type pop in gold prices netted the yellow metal a $6.40 gain on the day but it fell short of erasing the 1.9% decline that gold suffered on the week.

Polled market observers had gone into last week’s action convinced that bullion was going to build on the large gains achieved on the previous Friday. Alas, Fed Chairman Bernanke took the bullish wind out of their speculative sails with […]


Precious Metals CommentaryA renewed slide in gold prices commenced shortly after the release of the Fed’s Beige Book on Wednesday afternoon and it then intensified into Thursday with the parsing of the Bernanke Congressional testimony.

Both of these events contributed to frustrating the commodity bulls who expected more bad news from the Beige Book and more than just hints of an imminent QE from the Fed Chairman […]


Precious Metals CommentaryGold prices added over 1% ahead of the ECB rate-setting meeting this morning as the post US jobs data-sparked Friday rally continued to unfold. Yesterday was characterized as a non-event in the market as prices meandered in a very tight price range.

Still, market observers feel that the pros are not yet in the game and that their presence is essential for an extension of the move to beyond $1,640 and certainly $1,680 per ounce […]


Precious Metals CommentaryThe worst month for gold prices in 30 years was suddenly followed by the best daily climb since last August on Friday, the first day of the new month.

The principal catalyst for the $66 upward move in bullion was the unexpectedly dismal report on May’s US job creation activity as reported by the US Labor Department […]


Precious Metals CommentaryFor the time being, the US jobs data (which — at 69,000 jobs added — was not at all what the markets had hoped for) could provide the fuel for a short-term bounce towards the $1,600 area and once again reignite hopes for the Fed to offer some form of QE. More about that contentious topic will follow below.

Doing the math is a pretty precise… exercise and it leaves no room for positive spin. The negative performance math stacks up as follows for the month of May […]


Precious Metals CommentaryGold’s worst price run since 1999 continued as the abbreviated trading week got underway and unfolded in New York on Tuesday.

The now three month-old downtrend in prices saw the yellow metal touch bid levels under the $1,550 mark during the Tuesday early afternoon hours as the euro finally caved under renewed selling pressure and flared-up eurozone anxieties and breached the pivotal $1.25 level […]


Precious Metals CommentaryThis morning’s opening in precious metals was showing gold prices marginally higher, spot silver bids somewhat lower, and some mild gains in platinum and palladium.

Rhodium fell $25 to $1,275 per ounce. Pre-long-weekend book-squaring –and not just in precious metals- was beginning to become manifest as participants began tallying up the week that was […]