Greenhulk
2021-10-14
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Precious metal stocks rose in morning trading as gold rallied
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U.S. gold futures jumped 1.6% to $1,786.60.</p>\n<p>Other precious metals followed along, with spot silver rising 2.3% to $23.05 per ounce, platinum gaining 2% to $1,027.09 and palladium adding 4.7% to $2,142.30.</p>\n<p>\"Gold is just following yields at the moment. The initial reaction after CPI (consumer price index) data was a big spike in yields, which is now starting to fade away,\" said Daniel Pavilonis, senior market strategist at RJO Futures.</p>\n<p>Gold initially pared gains as benchmark U.S. 10-year Treasury yields rose above 1.6% following data showing U.S. consumer prices increased solidly in September and were poised for a further rise in coming months.</p>\n<p>But a subsequent pullback in yields, which reduced the opportunity cost of holding non-interest bearing gold, drove a strong rally in precious metals.</p>\n<p>\"It's a situation where gold is an inflationary metal, which should be going up, but initial rate shocks capped its upside potential,\" Pavilonis said.</p>\n<p>The metal also drew support from a slide in the dollar and worries that high inflation would hit global economic growth.</p>\n<p>\"Given how the stagflation talks continue to drain global sentiment and promote risk aversion, this could support gold bugs,\" said FXTM analyst Lukman Otunuga.</p>\n<p>Investors now await the release of minutes from the U.S. central bank's September meeting at 1800 GMT, amid expectations for tapering of economic support as soon as next month.</p>\n<p>Meanwhile, a group of banks that partnered with the London Metal Exchange to launch gold and silver futures in 2017 is preparing to abandon the project after hoped-for volumes did not materialise.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPrecious metal stocks rose in morning trading as gold rallied\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-10-13 23:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Precious metal stocks rose in morning trading as gold rallied.</p>\n<p><img src=\"https://static.tigerbbs.com/4fe4f0486ca6f21fe8b20e29f17ac82a\" tg-width=\"404\" tg-height=\"659\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/79a17b221ca6189c1e4cb044ec6edf53\" tg-width=\"415\" tg-height=\"359\" referrerpolicy=\"no-referrer\"></p>\n<p>Gold rose more than 1% on Wednesday on a retreat in the dollar and U.S. Treasury yields, with investors' focus on minutes from the Federal Reserve's latest policy meeting for confirmation of its tapering strategy.</p>\n<p>Spot gold was up 1.6% at a near four-week high of $1,788.01 per ounce by 10:21 a.m. EDT (1421 GMT). U.S. gold futures jumped 1.6% to $1,786.60.</p>\n<p>Other precious metals followed along, with spot silver rising 2.3% to $23.05 per ounce, platinum gaining 2% to $1,027.09 and palladium adding 4.7% to $2,142.30.</p>\n<p>\"Gold is just following yields at the moment. The initial reaction after CPI (consumer price index) data was a big spike in yields, which is now starting to fade away,\" said Daniel Pavilonis, senior market strategist at RJO Futures.</p>\n<p>Gold initially pared gains as benchmark U.S. 10-year Treasury yields rose above 1.6% following data showing U.S. consumer prices increased solidly in September and were poised for a further rise in coming months.</p>\n<p>But a subsequent pullback in yields, which reduced the opportunity cost of holding non-interest bearing gold, drove a strong rally in precious metals.</p>\n<p>\"It's a situation where gold is an inflationary metal, which should be going up, but initial rate shocks capped its upside potential,\" Pavilonis said.</p>\n<p>The metal also drew support from a slide in the dollar and worries that high inflation would hit global economic growth.</p>\n<p>\"Given how the stagflation talks continue to drain global sentiment and promote risk aversion, this could support gold bugs,\" said FXTM analyst Lukman Otunuga.</p>\n<p>Investors now await the release of minutes from the U.S. central bank's September meeting at 1800 GMT, amid expectations for tapering of economic support as soon as next month.</p>\n<p>Meanwhile, a group of banks that partnered with the London Metal Exchange to launch gold and silver futures in 2017 is preparing to abandon the project after hoped-for volumes did not materialise.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EXK":"Endeavour Silver","FSM":"Fortuna Silver Mines Inc","PAAS":"泛美白银","CDE":"科尔黛伦矿业","AG":"First Majestic Silver Corporation","AEM":"伊格尔矿业","KGC":"金罗斯黄金","NEM":"纽曼矿业","USAU":"美国黄金公司","MAG":"MAG银矿","GOLD":"巴里克黄金","HMY":"哈莫尼黄金","GFI":"金田","SLV":"白银ETF(iShares)","AU":"AngloGold Ashanti Ltd ADS","EGO":"埃氏金业","HL":"赫克拉矿业"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194709817","content_text":"Precious metal stocks rose in morning trading as gold rallied.\n\nGold rose more than 1% on Wednesday on a retreat in the dollar and U.S. Treasury yields, with investors' focus on minutes from the Federal Reserve's latest policy meeting for confirmation of its tapering strategy.\nSpot gold was up 1.6% at a near four-week high of $1,788.01 per ounce by 10:21 a.m. EDT (1421 GMT). U.S. gold futures jumped 1.6% to $1,786.60.\nOther precious metals followed along, with spot silver rising 2.3% to $23.05 per ounce, platinum gaining 2% to $1,027.09 and palladium adding 4.7% to $2,142.30.\n\"Gold is just following yields at the moment. The initial reaction after CPI (consumer price index) data was a big spike in yields, which is now starting to fade away,\" said Daniel Pavilonis, senior market strategist at RJO Futures.\nGold initially pared gains as benchmark U.S. 10-year Treasury yields rose above 1.6% following data showing U.S. consumer prices increased solidly in September and were poised for a further rise in coming months.\nBut a subsequent pullback in yields, which reduced the opportunity cost of holding non-interest bearing gold, drove a strong rally in precious metals.\n\"It's a situation where gold is an inflationary metal, which should be going up, but initial rate shocks capped its upside potential,\" Pavilonis said.\nThe metal also drew support from a slide in the dollar and worries that high inflation would hit global economic growth.\n\"Given how the stagflation talks continue to drain global sentiment and promote risk aversion, this could support gold bugs,\" said FXTM analyst Lukman Otunuga.\nInvestors now await the release of minutes from the U.S. central bank's September meeting at 1800 GMT, amid expectations for tapering of economic support as soon as next month.\nMeanwhile, a group of banks that partnered with the London Metal Exchange to launch gold and silver futures in 2017 is preparing to abandon the project after hoped-for volumes did not materialise.","news_type":1},"isVote":1,"tweetType":1,"viewCount":148,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/822453955"}
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