The gold market is off to a strong start as the new trading week gets underway. Spot gold is higher by over $11 per ounce in early afternoon action. The bulls are within striking distance of the $1800 level and could challenge the area sometime this week. Dollar weakness and declining yields are the primary […]
The gold market is ending the trading week on a sour note Friday as prices have declined substantially. Spot gold is down over $15 per ounce as the day session winds down following the release of much stronger-than-expected jobs data. The U.S. added some 528,000 jobs in July, far above the estimates for an addition […]
The gld market is sharply higher Thursday as risk aversion and chart based buying are featured. The four-week high hit by gold today puts the bulls within easy striking distance of the $1800 level at which the next major test may occur. If the bulls can produce a close above $1800, it may not only […]
The gold market is taking a breather today as the bulls may have exhausted their near-term energy in recent days. Spot prices are down in late morning trade, albeit only by less than $1 per ounce. With the market currently sitting around the $1760 area, the bulls are still well within striking distance of the […]
The gold market is higher again today as bullish momentum continues to build. Prices hit a nearly four-week high today as increased risk aversion and keener safe haven demand fuel buying. Spot gold is rapidly approaching the $1800 level at which a key technical level could be taken out. If the bulls are able to […]
The laser several days have been interesting for the gold market. It started on Wednesday of last week as the Federal Reserve announced its decision to raise rates by another 75-basis points. Despite the large rate hike, the Fed was not seen as being as overwhelmingly hawkish as some had anticipated. Chairman Powell left the […]
The gold bulls are building on the rally of the last few days as the trading week comes to a close. Since the Fed raised rates by another 75-points on Wednesday, the gold market is higher by some 2%. The bulls have now out some significant distance between the market price and support at $1700. […]
The Fed raised interest rates on Wednesday for the fourth time in 2022. The Fed lifted rates by .75% while also admitting that the economy is slowing. The central bank hiked rates by .75% for the second time in a row as it looks to get control over inflation which sits at a 40-year high. […]
Ahead of this week’s FOMC meeting and the likely hike in interest rates that will follow it, the IMF is now warning about the possibility of a global recession. According to the International Monetary Fund, global growth is now expected to decline .4% to a rate of 3.2% in 2021. The decline in growth was […]
The gold market is picking up where it left off last week. Spot gold is down over $8 per ounce in early afternoon action Monday. The market may be relatively quiet ahead of this week’s FOMC meeting. The Fed meeting is likely to announce a 75-basis point rate hike, although there are some expectations for […]
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