Our Almost Famous Gold Newsletter
Welcome to Our Almost Famous Gold Newsletter with Richard Schwary, written regularly after the CME close. This commentary will look at the gold, silver, platinum and palladium markets and consider what happened to create these changes on the trading floor. It will also offer world class commentary from other sources in a balanced and straightforward manner.
This Almost Famous Gold Newsletter is not designed to sell products or hype markets. It will offer an opinion about market direction from an old time bullion dealer with 50 years of physical trading experience.
Our Almost Famous Gold Newsletter may include talk about premiums, why they change and how this drives public choice. On occasion we remind readers to be careful about “so-called” bullion products offered by telemarketers who should be ashamed of themselves.
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The Gold Newsletter Week in Review
Gold – At Record Highs
Commentary for Friday, Oct 18, 2024 (www.golddealer.com) – Today gold closed up $22.70 at $2713.70, and silver closed up $1.46 at $33.03. Safe haven demand has pushed gold to record highs, which will increase bullish sentiment and ramp up buzz. But what I find fascinating about this latest move to the high ground is the increasing number […]
Gold – Higher on Rate Cut Expectations
Commentary for Friday, Oct 11, 2024 – Today gold closed up $37.00 at $2657.60, and silver closed up $0.51 at $31.52. This was a relatively important week for the metals because traders tested support, recovered, and again moved higher, even as dollar strength remained steady. So, there is buzz out there to excite the bullish base […]
Gold – Fed Taps the Brakes
Commentary for Friday, Oct 4, 2024 (www.golddealer.com) – Today gold closed down $11.30 at $2645.80, and silver closed down $0.06 at $32.13. The price of gold this week traded between $2668.00 and $2631.00 suggesting that traders are getting used to these higher prices. The same thing is true for silver which traded between $31.08 and $32.34. While […]
Gold – Pulls Back from Record Highs
Commentary for Friday, Sept 27, 2024 (www.golddealer.com) – Today gold closed up $2.45 at $2646.75, and silver closed up $0.02 at $31.54. Gold closed the week on a quiet note, which presents a small red flag because traders pushed prices higher 4 out of 5 days this week. Today’s defensive pricing is likely the result of lower […]
Gold – Rate Cuts Fuel Bullish Sentiment
Commentary for Friday, Sept 20, 2024 (www.golddealer.com) – Today gold closed up $31.90 at $2619.90, and silver closed up $0.09 at $31.18. Both gold and silver surged Thursday and Friday as traders and momentum players jumped on the higher prices created by lower interest rates and a solid technical outlook. So, the theme this week might pose […]
Gold – Bullish Sentiment Increases
Commentary for Friday, Sept 13, 2024 – Today gold closed up $30.10 at $2581.30, and silver closed up $0.96 at $30.70. Both gold and silver made new recent highs today as traders anticipate an aggressive interest rate cut at the upcoming FOMC meeting (September 17th and 18th). The notion of lower interest rates has been part […]
Gold – A Dovish Fed?
Commentary for Friday, Sept 6, 2024 (www.golddealer.com) – Today gold closed down $17.90 at $2493.50, and silver closed down $0.91 at $27.81. The bullish gold trade got a piece of good news from New York Fed President Williams this week: ‘It is now appropriate to dial down the degree of restrictiveness in the stance of policy’. And […]
Gold – It’s About Inflation
Commentary for Friday, August 30, 2024 (www.golddealer.com) – Today gold closed down $31.90 at $2493.80, and silver closed down $0.83 at $28.73. Traders took profits today, pushing the price of gold lower as the PCE (Personal Consumption Expenditures) continued to suggest that inflation is moving lower. And yet, during the same week there were experts who believed […]