First Trust Ise Global Platinum Index Fund ETF News

(Kitco News) - New momentum in the gold market as prices push to $1,900 is raising the profile of all precious metals, with platinum and palladium both seeing strong moves outperforming the sector.

I guess that markets will definitely not lack volatility over the next few days.

Platinum price succeeded to take advantage of the positive factors by forming new bullish wave to …

Silver and platinum advanced, while palladium declined.

Gold prices climbed to an eight-month high on Tuesday, as heightened tensions between Russia and the West over Ukraine prompted investors to shun riskier assets and opt for safe-haven bullion. Spot gold was up 0.3% at $1,876.71 per ounce, as of 0350 GMT, after hitting its highest level since June 11 at $1,878.88 earlier in the day. US gold futures rose 0.5% to $1,879.00. Due to the Ukraine crisis, gold is supported through the inflation channel because of higher crude oil prices and through the risk aversion channel because of lower stocks, said Stephen Innes, managing partner at SPI Asset Management. Spot gold may rise into $1,872-$1,879 range "If we lose that Ukraine impulse, then gold comes off quite quickly," Innes said. Asian shares dropped as investors contemplated the implications of a potential imminent Russian invasion of Ukraine. "The (gold) market seems to be ignoring major central banks right now because investors are lost in the fog of war and it becomes very difficult to have a salient macro or fundamental view in this type of market where you really have to just go trade on a hair trigger," Innes said.

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Gold prices were stuck in a tight range on Thursday as investors awaited US inflation data that could offer fresh clues about the pace of the Federal Reserve''s monetary policy tightening. Spot gold rose 0.1% to $1,833.99 per ounce by 0424 GMT, trading close to Wednesday''s high of $1,835.60. US gold futures fell 0.1% to $1,835.40. Due out later in the day, the US consumer price index for January was expected to have risen 0.5%, culminating in an annual rise of 7.3%, which would be the largest such increase since 1982, according to a Reuters poll. A robust inflation reading is expected to burnish gold''s appeal as an inflation hedge, but interest rate hikes to contain pricing pressure would raise the opportunity cost of holding non-yielding bullion. "I think the dollar is going to weaken off despite yields going higher because every other central bank is raising interest rates to defend against inflation," said Stephen Innes, managing partner at SPI Asset Management. "If the Fed starts ramping up rates too quickly, it''s not good for the economy, especially with every other central bank doing the same thing in unison.

Dont compare these with returns from traditional investments since the proportion and purpose of alternative investments is vastly different.

Queen Elizabeth II reaches 70 years on the throne on Sunday (6 February) and hosted a reception at Sandringham House on the eve of her historic Accession Day. The monarch, who was just hours away from becoming the first British sovereign to reach a historic 70 years on the throne, joined members of the local community in the ballroom of the Norfolk estate to mark the milestone. At the event, the 95-year-old monarch cut an iced Victoria sponge cake decorated with the Jubilee emblem to begin her Platinum year.

XPO Logistics (XPO) has renewed its platinum partnership with Truckers Against Trafficking for 2022

We discuss rising inflation and how investors can protect their portfolios.

We discuss rising inflation and how investors can protect their portfolios.

Gold prices moved in a narrow range on Wednesday, anchored by a retreat in the dollar as investors squared positions in the run-up to US consumer prices data later in the week. Spot gold was little changed at $1,784.72 per ounce by 1351 GMT, having retreated slightly from the session''s peak at $1792.90 before moving back into a tight range. US gold futures rose 0.5% to $1,793.20 per ounce. With markets more optimistic as worries over the Omicron coronavirus variant ease, gold has joined the bandwagon in part because of its inverted correlation with the dollar, Ricardo Evangelista, senior analyst at ActivTrades, said. But gold''s upside may be limited and it was not likely to move above the $1,810 level, especially with the narrative shifting back to central banks'' tightening policy, which was likely to drive further US dollar gains, Evangelista added. Although a move higher in benchmark US Treasury yields dimmed gold''s appeal, this was offset by a retreat in the dollar index as a softer US dollar decreases bullion''s cost for overseas buyers.

View: Source Global platinum ETF holdings have slipped by 92 koz to 3.76 moz in the year-to-date. They were up 116 koz in the first half The post Platinum and gold ETFs retreat in 2021 appeared first on MineralFunds.com .