Following Wednesday’s surprise 75-basis point rate hike from the Fed, the gold market is higher as stocks are getting hammered. Although the 75-point hike was not totally unexpected, markets believed the Fed would raise rates by 50-points. The higher rate hike and expectations for another 75-point hike at the next FOMC meeting have heightened recession […]
The gold market is a bit softer today as the bears look to follow through on recent selling. A stronger dollar and rising yields are the primary culprits today behind gold’s weakness and may continue to limit the metal’s upside in the weeks ahead. Another hot reading on inflation today has done little if […]
The gold market erased solid early session losses today to reverse course and shoot higher. Spot gold prices are now sitting around a four-week high as risk aversion again takes hold and investors look for assets to hedge against the hottest inflation in over 40 years. The bulls have now scored a technically bullish “outside […]
The gold market is still not far from the $1850 level and could remain very subdued until next week. The FOMC meeting will take place next week and the announcement on policy is expected at its conclusion Wednesday afternoon. The three-week holding pattern that gold has been stuck in could continue until that day. Prices […]
The gold market was quiet today, very quiet in fact. Spot prices are now at $1851.70 in late afternoon trade. The bulls did score a victory, of sorts, as prices were ankle to maintain trade above the $1850 level. The bulls have their work cut out for them, however, if they want to put some […]
The gold market is higher Tuesday as the bulls step in and buy the dip. The day’s gains are keeping the recent uptrend alive and have pushed spot prices back to resistance at the $1850 level. Stock market weakness and crude oil strength may also be playing a role in gold’s upside today as bargain […]
The gold market is slightly lower in early trade Monday as the new trading week gets underway. Spot gold prices are just below key resistance at the $1850 area and could be pushed lower if the bulls fail to retake this level again very soon. Also adding support for gold are a lower dollar and […]
The gold market is being sold off Friday after the non-farm payrolls data beat expectations. The non-farm payrolls data for May showed a rise of 390,000 jobs with estimates looking for a rise of 328,000. The unemployment rate did not dip, however, and stood at 3.6%. Average hourly earnings also rose by 5.24% annually. The […]
The gold bulls are taking a run at higher prices once again today. Spot gold prices are now firmly back above the key $1850 level and are approaching the $1870 area. If the bulls are able to maintain the day’s gains, there could be a run towards the $1900 level in the days ahead. A […]
The gold market is seeing higher prices in early afternoon trade as choppy trade continues. The market has trade on both sides of the unchanged level today as investors ponder several key issues. The dollar and yields are both on the rise today, which is a negative for gold. Some bargain hunting and short covering […]
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