Gold, silver see profit-taking pressure Thursday

Gold, silver see profit-taking pressure Thursday

From kitco.com

Gold and silver futures prices are weaker in midday U.S. trading Thursday, on some profit-taking pressure from the shorter-term futures traders following recent gains. The precious metals had been supported this week by friendly daily outside markets that included higher crude oil prices, a weaker U.S. dollar index and a slight drop in U.S. Treasury yields. February gold futures were last down $8.30 at $1,819.00 and March Comex silver was last down $0.062 at $23.15 an ounce. The U.S. got another key inflation report today. The December producer price index rose by 0.2% from November. The December PPI was expected to ... (full story)

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Fed's Evans: Don't believe inflation will stay this high
From @breakingmkts|Jan 13, 2022
tweet at 1:30pm: FED'S EVANS: DON'T BELIEVE INFLATION WILL STAY THIS HIGH tweet at 1:30pm: Fed's Evans: Fed Strongly Expects 2, 3, 4 Rate Hikes This Year, â€˜We'll See How It Plays Outâ€™ - Need To Be Adjusting MonPol To Something Closer To Neutral - After Bond Purchases Ends We Will Start Thinking About How To Bring B/Sheet Down tweet at 1:37pm: Fed's Evans: -This is the year when we rebalance monetary policy - Inflation will fall as the supply chain improves, but demand will fall slightly as interest rates rise - Given strong inflation, the Fed's approach on monetary policy is wrongfooted tweet at 1:40pm: *EVANS: ALIGNED WITH FOMC MEDIAN EXPECTATION OF 3 HIKES IN 2022
December CPI Data Suggests U.S. Inflation May Be Stabilizing, But Hasn’t Peaked Yet
From blog.pimco.com|Jan 13, 2022
While the overall pace of core U.S. inflation in December 2021 remained strong, underlying details in the Consumer Price Index (CPI) data suggested some stabilization from the ...
Treasury Auction Results
From treasurydirect.gov|Jan 13, 2022
table Despite Modest Tail, 30Y Auction Is Solid With Strong Foreign Demand Similar to yesterday's 10Y auction (and price action), moments ago the Treasury held the ...

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Fed's Evans expect unemployment to be around 3.5% by end of year
From @breakingmkts|Jan 13, 2022|1 comment
tweet at 1:59pm: FED'S EVANS EXPECT UNEMPLOYMENT TO BE AROUND 3.5% BY END OF YEAR tweet at 1:59pm: FED'S EVANS: I BELIEVE IT WILL TAKE A COUPLE OF YEARS TO GET RATES TO NEUTRAL, BUT THIS MIGHT BE HASTENED.
Despite Modest Tail, 30Y Auction Is Solid With Strong Foreign Demand
From zerohedge.com|Jan 13, 2022
Similar to yesterday's 10Y auction (and price action), moments ago the Treasury held the final coupon auction for the week and the first 30Y auction for the year, when it sold $22 ...
Fed's Clarida: Starting policy normalisation in 2022 consistent with new inflation targeting...
From @BreakingLive_|Jan 13, 2022
tweet at 3:01pm: FED'S CLARIDA: STARTING POLICY NORMALISATION IN 2022 WOULD BE PERFECTLY CONSISTENT WITH THE NEW FLEXIBLE AVERAGE INFLATION TARGETING FRAMEWORK. tweet at 3:00pm: FED'S CLARIDA: THE UNDERLYING RATE OF INFLATION IN THE US ECONOMY IS STILL HOVERING AROUND THE FED'S LONGER-RUN TARGET OF 2%.