What Are Gold and Silver Prices Today?
Precious Metals: News and Analysis
The precious metal equities post small gains. Another deposit in GLD, but no change in SLV once again. More big silver eagles sales at the U.S. Mint---and more decent in/out movement in both gold and silver at the Comex-approved depositories on Thursday.
U.S. stocks opened in the red Friday but quickly bounced back amid concerns about China's growth and heightened global tensions over Ukraine.
Remember the numerous calls for the yellow metal to fall below $1,000 per ounce? Now the spot price is close to $1,372.
Despite the tepid gold and silver price action, the shares turn in decent gains. After a withdrawal on Tuesday, GLD adds more gold---and no changes reported in SLV. No sales report from the U.S. Mint. More gold shipped into the Comex-approved depositories on Wednesday---and a smallish amount of silver shipped out.
While the slowdown in China remains a factor for a boost to gold, Kitco.com's Jim Wyckoff says gold's safe haven appeal is currently adding the most support to its price.
Oil and Natural Gas News
The refiner is poised to benefit from the sweet spot between West Texas International and Brent prices plus the oil flowing from the Permian Basin.
Estimates for the refiners are too low because of this Permian discount.
A 'test' release of strategic petroleum reserves is one of many factors in the recent drop in crude prices below $100, Dan Dicker tells Jim Cramer.
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