Gold is attempting to get its legs underneath it this morning with little in the way of news to influence the price in the early going. Gold is up a moderate $4 at $1320 in quiet trading. Silver is up 12¢ at $16.47. Commodity prices are pushing higher and that could help the precious metals as the day moves along. The U.S. Labor Department will report on January's consumer prices on Wednesday and producer prices on Thursday. The market will be... moreby Michael J. Kosares
EARLY REPORT 2-12-2018
Gold is attempting to get its legs underneath it this morning with little in the way of news to influence the price in the early going. Gold is up a moderate $4 at $1320 in quiet trading. Silver is up 12¢ at $16.47. Commodity prices are pushing higher and that could help the precious metals as the day moves along. The U.S. Labor Department will report on January's consumer prices on Wednesday and producer prices on Thursday. The market will be watching to see if the trends established in December's CPI report (a 3.6% annualized rate) carried through to January's numbers.
Stocks are in recovery mode this morning – at least so far. In this morning's Financial Times, Bridgewater's Bob Prince warned of "more volatility as we are entering a new macroeconomic environment." J.P. Morgan's John Normand issued a similar warning at the end of last week saying that he believes there has been an important sentiment shift – "a regime change one where you sell-the-rallies rather than buy-the dips."
Chart of the Day
Chart note: Gold's performance since 2000 illustrates its potential as an investment for the times. After 12 straight years of positive returns (2001-2012), we had one sideways year (2014) sandwiched between two years of declines (2013 & 2015). Over the last two years (2016-2017), gold has once again delivered positive returns – a performance many gold market analysts view as a harbinger of things to come. If you are looking for an overview of gold's past history, we offer a page in conjunction with the St. Louis Federal Reserve you might find interesting: Gold trends and indicators in chart form.
