shopper approved
    2942.12
    -0.34
    32.81
    -0.22
    989.27
    -2.96
    1013.55
    4.05

    JMBullion.com Blog

    Metals Market Broadsheet: August 5-9

    The global market meltdown touched off on Aug. 2 by a dismal U.S. jobs report continued to pound the market through most of last week. Recession fears sent The Dow Jones Industrial Average into a nosedive last Monday with a loss of more than 1,000 points and chomped 3% out of the S&P 500 for…

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    Metals Market Broadsheet: July 29-Aug. 2

    Bullion investors found plenty of reasons last week to believe that gold and silver have room – maybe quite a bit of it – to run in the short term. Federal Reserve Chairman Jerome Powell, whose dovish scenario of a potential interest rate cut being “on the table” in September if market conditions held, set…

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    Metals Market Broadsheet July 22-26

    Bullion traders navigated a heady week packed with sell-offs and profit-taking, Capitol Hill curveballs, and a barrage of sometimes conflicting financial data on housing, inventories, second-quarter GDP, and inflation that left more than a few Wall Street observers wondering which way the U.S. economy was heading. Throw in a generous dash of market uncertainty –…

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    Metals Market Broadsheet July 15-19

    Gold grabbed most of the headlines last week as the yellow metal set a new all-time high on Tuesday, shattered that record a day later, and then shed those gains to close out the series of whirlwind trading sessions. It was a different story for silver, which struggled after China – a top consumer of…

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    Metals Market Broadsheet, July 8-12

    Last week’s surge in both gold and silver was bookended by cautious optimism from bullion traders, hoping to collect enough evidence to prove that an interest rate cut in September was all but a formality. They cherry-picked some encouraging remarks from the two-day Capitol Hill testimony of Federal Reserve Chairman Jerome Powell, who told federal lawmakers the…

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    Metals Market Broadsheet, July 1-5, 2024

    Precious metals investors entered last week looking for the kind of spark that could lift gold and silver out of its spell of sideways, one step forward, two steps back, trading. They got an explosion. It came in a litany of reports exposing a deteriorating U.S. economy – including data showing that job creation among…

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    Metals Market Broadsheet June 24-28

    It seemed gold and silver were beginning to run out of steam around midweek, bobbing and weaving around dismal economic reports that revealed just how far new U.S. home sales plummeted in May and consumer confidence dipping last month. A much-needed jumpstart came on the heels of Thursday’s report on U.S. durable goods orders that beat Wall Street expectations and Friday’s…

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    Mixed Trading for Gold, Silver After Key Report Shows Inflation Cooled in May

    Gold and silver were mixed in trading Friday morning as a key economic gauge for the Federal Reserve showed inflation cooled last month, renewing market hopes that policymakers will finally be convinced to lower interest rates later this year.  Data from the U.S. Bureau of Economic Analysis reported that personal consumption expenditures, or PCE, were unchanged…

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    Atlanta Fed Chief Still Supporting One Interest Rate Cut in 4Q

    Atlanta Federal Reserve Bank President Raphael Bostic continued Thursday to back one interest rate cut this year, saying if federal policymakers wait too long for inflation to meet their 2% target, they risk “sapping too much momentum from the economy and the labor market.” Bostic made the remarks in an essay posted to the regional bank’s website….

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    Gold Jumps on Reports Showing Uptick in Durable Goods Orders, Lower Unemployment Claims

    After dipping to a two-week trading low a day earlier, gold broke out in a big way Thursday morning after a report showing an increase in U.S. durable goods orders that beat Wall Street expectations.  Data from the Commerce Department showed that new orders for manufactured durable goods in May increased $0.3 billion – or 0.1%…

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    Debate, PCE Estimates Could Move Markets to Close out Busy Week

    Investors will be closely watching tomorrow’s first presidential debate and Friday’s key personal consumption expenditures price index estimates for May, which are two events that could provide some early Fourth of July fireworks. Kicking off the home stretch, Democratic President Joe Biden is set to debate Republican challenger Donald Trump Thursday night, marking the start…

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    Gold, Silver Down on Report Showing New U.S. Home Sales Plummeted in May

    Gold and silver traded down Wednesday morning after a report showing that new U.S. home sales took a nosedive last month, another piece of evidence pointing to inflation’s relentless grip on the housing industry.  The figures from the U.S. Census Bureau and Department of Housing and Urban Development showed sales of new single-family houses last month at…

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    Citing Risks, Fed Officials Offer No Timetable on Interest Rate Cuts

    While the economy and labor market have shown signs of resilience, the U.S. has made only modest strides in lowering inflation this year, justifying the need to keep restrictive monetary policy in place for the time being, two Federal Reserve officials said Tuesday.  The separate speeches by Federal Governors Lisa Cook and Michelle Bowman both…

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    Gold, Silver Dip on Report Showing Weakened Consumer Confidence

    Gold and silver were down in Tuesday morning trading after a report showing that consumer confidence weakened in June, another sign pointing to the precarious nature of the U.S. economy.  The Conference Board’s Consumer Confidence Index dipped in June to 100.4, down from 101.3 in May, as consumers’ concerns about the future persisted. Economists had projected a…

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    Bank of America Takes Bullish Forecast on Gold: $3,000 by End of 2025

    Increasing demand by investors, geopolitical tensions, central bank demand, and federal monetary policy could see gold climb to $3,000 per ounce within the next year to 18 months, according to a bullish outlook on the yellow metal by a Bank of America analyst.  The note published by Michael Widmer, a commodity strategist at the bank, lays out…

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    Fed Official: Policymakers Must Consider Whether Interest Rates Appropriate for Cooling Economy

    Policymakers need to consider whether the current benchmark interest rate is appropriate for an economy that is showing signs of cooling outside of inflation, a Federal Reserve official said Monday. Federal Reserve Bank of Chicago President Austan Goolsbee said in an interview that while the current restrictive monetary policy is in place to “guard against…

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    Metals Market Broadsheet June 17-21 

    After a sluggish start to last week, gold and silver came out swinging after Wednesday’s Juneteenth market holiday. But the gains were short-lived. Friday’s S&P Global flash PMI composite output index – showing that U.S. business activity expanded at its fastest pace in 26 months in June – sent both commodities plummeting. Meanwhile, investors with high hopes…

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    Gold, Silver Tumble on Report US Economy Grew at Fastest Pace in 26 Months in June

    Gold and silver tumbled Friday on the heels of a report showing that U.S. business activity expanded at its fastest pace in 26 months in June, signaling a strong finish to the second quarter. The S&P Global flash PMI composite output index climbed to 54.6 in June, a notch higher than May’s index of 54.5 and its…

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    RBC: Gold Vulnerable After Record Highs, Taking Cautious Outlook

    One of the world’s largest banks is advising a cautious outlook on gold, saying “unrealized vulnerabilities” pose a threat to the yellow metal after its record run last month.  Analysts with RBC Capital Markets, part of the Royal Bank of Canada, said in a note that there are some “unrealized vulnerabilities to the pillars of gold’s rally.”…

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    Survey: Inflation, Global Unrest Spur Banks’ Increase of Gold Reserves

    survey-inflation-global-unrest-spur-banks-increase-of-gold-reserves

    Persistent high inflation, geopolitical instability, and a desire to strategically diversify resource holdings were among the top reasons cited by central banks on why gold will continue to be a favored reserve asset in 2024 and beyond, a survey by an industry trade group found. The results of the 2024 Central Bank Gold Reserves Survey,…

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    Gold, Silver Jump on Lackluster Housing, Unemployment Data

    Gold, Silver Jump on Lackluster Housing, Unemployment Data

    Gold and silver broke out of the midweek holiday with a strong showing on Thursday after a flurry of reports on building permits, housing starts, and unemployment muted hopes the economy was finally on the backside of its inflation fight. Gold was up $33.13 at $2,362 per ounce and silver climbed $0.94 to break through…

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    Fed Members Optimistic on Inflation Fight, Want More Data Before Deciding on Rate Cuts

    Fed Members Optimistic on Inflation Fight, Want More Data Before Deciding on Rate Cuts

    Several Federal Reserve officials struck an optimistic tone Tuesday in the country’s protracted struggle to get a handle on inflation but warned against easing the current restrictive monetary policy too soon for fear of jeopardizing hard-won economic progress. Federal Reserve Governor Adriana Kugler, Federal Reserve Bank of Richmond President Thomas Barkin, and Boston Federal Reserve…

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    Gold Trades in Positive Territory As May’s Retail Sales Show Increase

    Gold Trades in Positive Territory As May’s Retail Sales Show Increase

    After a sluggish start to the week, gold was trading in positive territory early Tuesday as a report showed that U.S. retail sales rose by a modest 0.1% in May. The data released by the U.S. Census Bureau still fell short of Wall Street expectations of a 0.2% bump, an ever-present indication that inflation still…

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    Philly Fed President: One Rate Cut ‘Appropriate’ in 2024 if Data Holds

    Philly Fed President: One Rate Cut ‘Appropriate’ in 2024 if Data Holds

    One reduction in the benchmark interest rate would be “appropriate” by the end of the year so long as current data pointing to a slowdown in inflation holds steady, a Federal Reserve official said Monday. Philadelphia Federal Reserve President Patrick Harker also cautioned in a speech that the Fed was still “surrounded by an air…

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    Gold, Silver Dip as Investors Await Data on Retail Sales, Home Construction

    Gold and silver dipped slightly in early morning trading Monday as investors awaited critical data later this week on retail sales, new home construction, and a report card on the health of the country’s manufacturing and service sectors. With several members of the Fed also scheduled to deliver public comments later this week, Wall Street…

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