Platinum (PL) News, Page 1
- Platinum977.00-8.3000(-0.8400%)21:02:28(GMT)|Real-Time Data, Quoted in USD
- OpenN/A
- Day's Range972.50 - 990.30
- ClassCommodities
- Bid/Ask976.30/977.70
- SymbolPL
- Subclass / SectorMetals
Palladium: Completely Reverse The Rumors for a Bubble Burst
During the first quarter of 2019, spot palladium was seen tumbling by more than 17% from record highs at $1,609.85, with the main catalyst of this drift possibly being the closing of positions as the end of the month and the end of the quarter (i.e. end of the contract) came.
Gold and Silver Recover After Lower Than Expected NFP
Gold reacted positively after the weak nonfarm payrolls data in the U.S. and it is recovering almost all its daily losses. Silver just exploded to the upside.
Gold Down Amid Trade Optimism, Copper Recovers From a 2-year Low
Metals are mixed on the day, gold and silver are posting losses, but copper is extending its recovery from 2-year lows, while palladium and platinum are consolidating highs.
Gold Ready to Close Its Best Month in Three Years
XAU/USD is trading sideways between 1,520 and 1,530. It seems that investors did the end-month rebalancing and profit-taking on Thursday, as the unit declined from highs at 1,550 and tested the 1,520.
Gold Jumps to 6-Year highs but Retraces after Yuan Appreciation
Market sentiment is currently on a fragile situation as experts are finally accepting that there will be no deal between the U.S. and China in the middle term. In fact, Goldman Sachs’ analysts now believe that an agreement will not be reached anytime soon.
China Retaliates and Sends Gold up to Multi-year Highs
The trade war between the United States and China has now entered in a new phase as experts are now considering that China abandoned any hope for a trade deal with the U.S. Real concern about global growth has taken the market. Risk aversion is the theme of the day,
Dollar Recovers Ground After NFP and Sends Gold, Metals down
Risk-Off sentiment is taking the market as the NFP report failed to move the market as the numbers were decent, mostly in line of expectations, but neither too good or too bad.
Gold down to 2-week lows as the Fed delivers but not too much
Jerry Powell sent a clear message yesterday. Not too fast regarding rate cuts and then the dollar soared, sending gold down. Perspectives of a one and done rate cut are now higher. However, yes, more rate cuts are not out of the table.
Metals on Consolidation Pattern Ahead the Fed
Also, keep in mind that today is the last day of the month, so, experts are waiting for significant movements right after the FOMC decision. Potential profit taking and rebalancing are on the cards for gold, silver, and other metals.
Gold, Metals Mixed Ahead of the Fed, BoJ, BoE, NFP
Technical conditions for gold are weak. Only the Fed would give life to the metal and give it enough power to break above the 1,430. Think that the 25 basis point is already priced in.
Gold Shaken After Upbeat US GDP, Here Comes the Profit Taking
XAU/USD is now testing the 1,425 area, where a confluence of 200 and 50 days moving averages are. Now, profit-taking is expected due to normal Friday conditions.
Silver To Highs and Bullish MA Crossover, Gold bounces back on IMF
Gold is finally trading positive after three negative days, while silver and platinum have jumped to fresh highs. The Gold/silver ratio is felling for the eighth straight day
Gold Sideways, Silver positive as Dollar Caps Upside Potential
Gold is trading around the 1,425 area. Technical studies suggest that the bearish pressure is considerable with the 1,400 area as the first support. Below there, 1,380 is the level to watch.
Gold, Silver Jumps to Highs Amid Positive Metal Sentiment
Gold sentiment is ready to take more gains, but fundamental and technical studies suggest more caution ahead of significant catalysts such as central banks and US economic data.
US Housing Data Supports Metals in the Short Term
Weak housing data fueled buyers to take positions. In any case, gold rebound seems to be short-lived as the dollar index remains strong, and the good US retail sales data is still in play.
Gold Down Amid Better Than Expected US Retail Sales
On Tuesday, XAU/USD is trading 0.27% negative in the day at 1,410. Gold looks contained by the 1,420 resistance and supported by the 20-day moving average at 1,405.
Gold Opens the Week with Sideways as China Reports a Good GDP
Gold is currently moving in a small range between 1,410 and 1,420; the unit is 0.08% negative at 1,415. Technical indicators don’t show much upside potential for now. On the bigger picture, gold is trading sideways between 1,385 and 1,440.
Gold Fights to Stay Positive in the Day; Palladium on Consolidation Mode
Gold is trading at 1,404, 0.10% positive on the day, but the pair is losing steam as it jumped as high as 1,412 overnight. Technical indicators in the daily chart suggest more dovishness in the short term. For now, the 20-day moving average is acting as a support with the
Gold and Metals Turn Negative Amid Inflation Data and Risk Appetite
Currently, gold is trading 0.35% negative on the day at 1,413. Technical indicators are mixed with moving averages aligned to the upside but RSI and momentum showing some retracement expected.
Gold and Metals Rally as Fed’s Powell Hints a Rate Cut in July
Gold and all metals are focused on Federal Reserve’s chairman Jerome Powell testimony before the US Congress. Also, what he is saying regarding the United States economy.
![Metals such as gold and silver were trading negative on Friday on a mix of improving market sentiment and a profit booking movement ahead of the weekend. However, both metals reacted to the upside following the weaker than expected nonfarm payrolls data published today. The same story happened with palladium and platinum that are now recovering positions. Copper is extending its already daily gain. U.S. job market extends its weak note The United States created 130K new jobs in August, well below the 158K expected by market and the previous data of 159K. The last month was revised 5K down from 164K. On the other hand, the wages growth rose 3.2% in August, above the 3.1% expected by the market. However, the number is a slowdown from July's revised 3.3% data. The unemployment rate remained at 3.7% another month, while the participation rate of the labor force rose to 63.2% in August from 63.0% in the previous month. Gold recovers almost all losses after NFP [caption id="attachment_598622" align="alignnone" width="1713"] XAUUSD 1-hour chart Gold September 6[/caption] Gold reacted positively after the weak nonfarm payrolls data in the U.S. and it is recovering almost all its daily losses. Early in the day, the metal broke below the 1,520 area and fell to test the 1,500 critical level, but after the employment report, it jumped to be traded at 1,517. Currently, the unit is trading 0.16% negative on the day at 1,516. On the week, the metal is ready to close its second negative week in a row as the unit has not been able to break above the 1,550 area. XAU/USD needs a run above the 1,527 to close positive on the period. Meanwhile, it is posting a 0.30% weekly decline. Silver turns positive after NFP [caption id="attachment_598623" align="alignnone" width="1713"] XAGUSD 1-hour chart Silver September 6[/caption] Silver just exploded after the nonfarm payrolls data on Friday and recovered all its previous daily losses to turn positive on the day at 18.65. Previously in the day, silver was trading down amid improved risk sentiment and profit-taking ahead of the weekend. XAG/USD fell from the 18.60 area to trade at 18.00, its lowest level since August 27. However, the U.S. employment report ignited the pair and sent it back to 18.70, where it is trading right now with a 0.35% daily gain. On the week, silver is ready to close its fifth positive week in a row, thought the unit is trading well below weekly highs at 19.50. Copper negative after testing the 2.6400 are [caption id="attachment_598624" align="alignnone" width="1713"] XCUUSD 1-hour chart Copper September 6[/caption] Copper is trading negative on Friday as investors are closing positions around the 2.6400 area before the weekend. After testing the 2.6420 level, its highest price in over a month, XCU/USD is currently moving 0.25% at 2.6180. XCU/USD is ready to close its second positive week. The base metal is posting a 3.10% weekly gain right now. It would be its best week in over six months.](https://responsive.fxempire.com/cover/60x40/foil1/_fxempire_/2019/09/Gold-And-Silver.jpg)
