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Both gold and silver sustained major technical chart damage in trading yesterday Immediately following the release of the U.S. Labor Department’s nonfarm payroll jobs report, we saw both gold and silver sell off sharply. Initial estimates by economists polled by Dow Jones were forecasting that July’s additional jobs would total above 800,000 individuals. While the vast majority believed that we would see a major uptick in the number of new jobs added last month, there were quite a few analysts…

Gold and silver are mixed heading into the European open Gold and silver are starting the session mixed on Friday. The yellow metal is trading at $1800/oz while silver has moved 0.10% higher to trade at $25.15/oz. In the rest of the commodities complex, copper trades 0.88% higher and spot WTI 0.61% in the black. After a positive closed on Wall Street on Thursday, the Nikkei 115 (0.33%) and ASX (0.36%) both traded well overnight but the Shanghai Composite bucked…

Gold is trading marginally lower leading into the European open Gold has kicked off the new week on the back foot. The precious metal is trading -0.33% lower but just above the $1800/oz psychological level. Silver is just marginally higher at the time of writing hovering at $25.50/oz. In the rest of the commodities complex, copper is trading close to $4.50/lb around 0.44% in the black and spot WTI has lost -0.75% after a few decent sessions. Risk sentiment in…

Gold and silver trade flat leading into the European open performing well again on Thursday gold is heading into the European open flat. Silver is also trading flat after pushing 2.17% into the black during yesterday's session. Looking at the rest of the commodities complex, copper is -0.71% lower and spot WTI is half a percent in the red. Indices in the Asia Pac area traded negatively. The Nikkei 225 (-1.80%), ASX (-0.33%) and Shanghai Composite (-0.43%) all lost ground…

Broader trends in the gold market still positive even as demand drops 10% in first half of 2021 Gold demand picked up in the second quarter, but it wasn't enough to undo the weakness seen at the start of the year, according to the latest research from the World Gold Council. Thursday, in its quarterly Gold Demand Trends report, the WGC said that global gold demand in the second quarter totaled 955.1 tonnes, virtually unchanged from the second quarter of…

Gold, silver and bitcoin rise ahead of the European open After a tough end to last week gold has started the week on the front foot rising 0.23% in the Asia Pac session. Silver is also trading well and has moved 0.23% higher to trade at $25.22/oz. In the rest of the commodities complex, copper is 0.40% higher and spot WTI has lost -1.18%. In the indices, the Nikkei 225 has risen 1.04% and the ASX traded flat. The Shanghai…