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Gold Jun 24 (GC=F)

COMEX - COMEX Delayed price. Currency in USD
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2,430.50+13.10 (+0.54%)
As of 04:59PM EDT. Market open.
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Pre. SettlementN/A
Settlement date2024-06-26
Open2,422.20
Bid2,430.00
Last price2,417.40
Day's range2,411.10 - 2,454.20
Volume276,240
Ask2,430.20
  • Yahoo Finance Video

    Why it's a 'perfect storm' for commodities right now

    Gold prices (GC=F) hit a record high today, boosted by increasing geopolitical uncertainty following the death of Iran's president. Blue Line Futures Chief Market Strategist Phil Streible and Wolfe Research Managing Director Timna Tanners join Market Domination to discuss why commodities — including other precious metals silver (SI=F) and copper (HG=F) — have seen such a boost. Streible explains that when trading commodities, investors need to identify two things: A supply-demand imbalance and market momentum. He says that in the instance of copper, demand is soaring amid a green energy revolution and an artificial intelligence push: "The combination pushes demand for copper, silver, and other metallic metals higher for the first time in over a decade, and this comes at a time when increased regulation makes it harder for additional supplies of these metals to come into light and end up in the end user's hands. So, it's just creating this global deficit right now. It's a perfect storm for commodities." "Don't let the facts get in the way of a good narrative here," Tanners warns. "The reality is, this is really a squeeze that's happening in the financial community more than in the physical market," she explains, saying that copper saw a lot of short squeezes. "When it comes to investing of any type, you always want to manage position sizing, making sure that it's risk capital that's involved," Streible adds. Tanners also notes that investors should be watching China in the commodities market, as its electric vehicle sector skyrockets and new measures to revitalize its property sector have been introduced. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl

  • Yahoo Finance Video

    Precious metals are in a 'buy the dip market': Expert

    BofA Global Research Head of Metals Research Michael Widmer joins Morning Brief to discuss the recent rise in commodity trading, specifically in precious metals like gold (GC=F), silver (SI=F), and copper (HG=F), and why he feels bullish on this sector. "This is firmly a buy-the-dip market. I think what we need to see at this junction is maybe a little bit stronger Chinese demand, maybe a little bit stronger demand from the Western consumers as well. And if that comes through, I think if we had a dip now, that would take us then very swiftly back up," Widmer affirms. When asked about the Chinese demand for copper, Widmer claims: "So you have the green industries which have carried the copper market in China. So that's... solar, that's wind, that's the EV side of things. And then a lot of the traditional economy, like the housing market, actually, subtracting from the copper demand. So what would make me much more comfortable at this junction is if we continue to see the green spending coming through while we have a little bit of a lower drag from the housing market." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino

  • Yahoo Finance Video

    Gold and sIlver prices continue record high runs

    Gold (GC=F) and silver futures (SI=F) surged to record highs last week and continue to show signs of life as geopolitical uncertainty continues to raise concerns across global markets. Yahoo Finance Senior Markets Reporter Jared Blikre joins Morning Brief to break down the movements in these metal commodities, along with crude oil prices (CL=F, BZ=F). For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino