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Precious Metals Review

Market information and news is critical for precious metal investing. However, many investors have limited time to sort through the massive amounts of market data and gold, silver and platinum news. The Monex Precious Metals Review consolidates the week's activities in a concise snapshot of the precious metal markets.

PRECIOUS METALS REVIEW - December 13,2019
In the precious metals markets this week...
GOLD

The Monex AM closing price on Friday was $1,477, up $14 for the week. Monex spot gold prices opened the week at $1,463. . . traded as high as $1,486 on Thursday and as low as $1,460 on Monday. Gold support is now anticipated at $1,460 then $1,438, and then $1,420. . . with resistance anticipated at $1,485, then $1,498, and then $1,513.

SILVER

The Monex AM closing price on Friday was $16.96, up $.33 for the week. Monex spot silver prices opened the week at $16.63. . . traded as high as $17.12 on Thursday and as low as $16.57 on Monday. Silver support is now anticipated at $16.80, then $16.44, and then $16.18. . . and resistance anticipated at $17.02, then $17.18, and then $17.31.

PLATINUM

The Monex AM closing price on Friday was $929, up $30 for the week. Monex spot platinum prices opened the week at $899. . . traded as high as $951 on Thursday and as low as $897 on Monday. Platinum support is now anticipated at $908, then $889, and then $866. . . and resistance anticipated at $945, then $958, and then $977.

PALLADIUM

The Monex AM closing price on Friday was $1,914, up $31 for the week. Monex spot palladium prices opened the week at $1,883. . . traded as high as $1,971 on Friday and as low as $1,875 on Monday. Palladium support is now anticipated at $1,899, then $1,867, and then $1,818. . . and resistance anticipated at $1,955, then $1,977, and then $2,005.

Watch Managing Partner of the CPM Group, Jeffrey Christian, in our latest "A Year for Accumulation" video. You'll gain insight on recent moves in the metals market, the economy, and current events which could have an impact on how investors accumulate their metals in 2019 https://www.monex.com/year-for-accumulation/
QUOTES OF THE WEEK...
From Justin Lahart in 12/11 www.wsj.com All The Fed Wants For Christmas Is 2% Inflation

'''The Federal Reserve is bent on inflation heading higher. That doesn't mean it can do much about it.

The Fed's policy-setting committee on Wednesday concluded their final meeting of the year by leaving its target range on overnight rates unchanged, with projections showing that the bulk of Fed officials expect to stay on hold through the end of next year.

Given that this year's three rate cuts were meant to buffer the economy against uncertainties in trade and growth, and given those uncertainties are expected to abate next year, the Fed's low-rate stance might strike some investors as curious. But over the past year the central bank has become increasingly concerned about how low inflation has been, even as the unemployment rate has slipped to a 50-year low. The prospect of the U.S. entering the low-rate, low-inflation low-growth trap that has enmeshed Europe and Japan is something that it wants to avoid.

Earlier Wednesday, the Labor Department reported consumer prices excluding food and energy-the so-called core used to measure inflation's underlying trend-was up 2.1% in November from a year earlier. That suggests the core reading for the Fed's preferred inflation measure, from the Commerce Department, was likely up just 1.6%, calculate JPMorgan Chase economists.

It seems likely that inflation will perk up somewhat in the year ahead, with many economists forecasting that the Fed's preferred core measure will flirt with the 2% target the Fed has set for overall inflation. But the Fed is worried that people's inflation expectations, which help set the course of future inflation, have been ground down to the point that keeping inflation around 2% will be very hard. So now it is countenancing letting inflation exceed 2% in an attempt to re-anchor expectations higher.

But wanting to let inflation go above 2% and inflation actually getting there are separate things. The Fed's commitment to keeping rates low will certainly be supportive for the economy, but its ability to push growth higher is limited - especially when, with its target range on interest rates now at just 1.5% to 1.75%, there is so little room to cut further. The Fed can wish for higher inflation but wishing won't make it so.''

...And Kayla Tausche and Jacob Pramuk in 12/12 www.cnbc.com US Reaches A Phase One Trade Deal With China in Principle Pending Trump's Approval

''The Trump administration has reached a phase one trade deal with China in principle, pending approval from President Donald Trump, three sources close to talks told CNBC on Thursday.

Trump met with top advisors on Thursday about trade with China and whether to delay the next round of U.S. tariffs. Duties of 15%, set to take effect Sunday, would affect about $160 billion in Chinese-made goods including toys, computers, phones and clothing.

The White House has offered to scrap those duties and slash some existing tariffs in half, two sources told CNBC. The U.S. proposed cutting existing duties on $360 billion in Chinese products by 50%.

Trump has focused on the U.S. agricultural products China will purchase as part of the deal, one of the sources told CNBC. China had committed to buying about $40 billion in goods, while the president wanted the figure closer to $50 billion.

The world's two largest economies have moved to rein in a trade war that threatens to drag on global growth. It is unclear exactly how the agreement between Washington and Beijing differs from a partial deal the president announced in October.

Major U.S. stock indexes jumped following news of the deal in principle. Investors hope the U.S. and China can reach an accord before the tariff deadline and avoid a potentially damaging escalation in their nearly 2-year-old trade war.

On Thursday morning, Trump signaled optimism about an agreement with China. He tweeted that the U.S. has moved close to a trade deal with Beijing after several false starts and near misses.

'Getting VERY close to a BIG DEAL with China. They want it, and so do we!' the president wrote.

Aside from his advisors, the president also huddled with major business figures on Thursday, CNBC has learned. Business Roundtable CEO Joshua Bolten, Cummins CEO Tom Linebarger, Stanley Black and Decker CEO James Loree and Union Pacific CEO Lance Fritz, among others, met with Trump. It is unclear if the meeting overlapped with the China trade discussions.

Trump's acknowledgment that the U.S. wants a deal marked a shift in tone from recent weeks. He has repeatedly contended that Beijing needs an agreement more than Washington does, and suggested he was content waiting until after the November 2020 election to strike a deal - a statement that disappointed investors.''



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This is not a recommendation to buy or sell.

Last update: Dec 13, 2019 11:11:13 AM

This is not a recommendation to buy or sell.