The question of how gold may fare in the weeks ahead has become increasingly about its ability to tolerate another 75-point rate hike next week. The yellow metal has ended a five-week losing streak but still has numerous obstacles in the way of higher prices. After the European Central Bank, or ECB, raised rates […]
Could poor economic data give the gold market a boost? That seems to be the case today as gold rises following a larger-than-expected rise in weekly jobless claims. The U.S. Department of Labor reported today that weekly jobless claims rose by 7,000 to a level of 251,000. This is up from last week’s figure of […]
There has not been much to report on the gold market in recent weeks. The bears did cause prices to slide, however, and the market has been eyeing a test of the $1700 level for days now. Volatility within the market has seemingly collapsed in what could be a sign of a large move to […]
The gold market is steady in early afternoon trade Tuesday as the market appears to be awaiting some fresh inputs. The outside markets are playing a large role in price action this week. Weaker crude oil and rising treasury yields are both keeping any upside limited. Dollar weakness, however, may be giving the market […]
The gold bears have gained some momentum this week. The bulls have held the bears from doing even more damage, however, in what may be viewed as a market positive. The bears took the price of gold below the $1700 level Friday before the bulls jumped in and took prices back above this key level. […]
The gold bears are now pressing their positions, taking prices below the $1700 level in earlier action Thursday. Although the yellow metal has since bounced back above $1700, the bears appear to be in firm control of the market at this point. That could mean that a capitulation type of event may be in store […]
The gold market was under some pressure earlier in the session. Following the June CPI print, gold moved rapidly lower down to a level of $1707. The metal quickly reversed, however, and now is up sharply on the day by nearly $15 per ounce. Despite the numerous bearish issues gold currently faces, the bulls have […]
The gold market is slightly lower in early action Tuesday. The yellow metal hit an 8.5-month low overnight and is seemingly stuck as the dollar continues to rise. The market is also being hampered by lower crude oil and a lack of fresh, bullish inputs. There are several major issues currently going on, none of […]
The gold market is lower again Monday as numerous issues weigh on the metal. A stronger dollar was a large factor in today’s price action as speculative positioning is now close to neutral. Bearish bets on gold have increased recently as hedge funds have dropped the metal, and long specs have seen a dramatic decline […]
The gold market is higher in early action Thursday as the bulls see a slight reprieve from recent selling pressure. Spot gold is higher by less than $5 per ounce, however, and has several hours to maintain those gains for a positive daily close. Gold hit a fresh 8.5-month low this week while silver also […]
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