The past week has been one to forget for the gold bulls. The decline of some 4% this week markets the worst weekly close since June of last year. Gold prices have shed about $70 per ounce on the week, and more selling could be in store if the bulls do not stop the bleeding […]
The gold market is down today and down sharply. A sharply higher dollar index is taking a big toll on the yellow metal today as the currency hits a 20-year high. Not only that, but deteriorating technicals have put the market into a “sell the rallies” mode that may see further selling of any upside […]
The gold market is seeing a respite from the recent selling today as key outside markets give the bulls reason to buy. The metal may also be seeing some benefit today from another red-hot inflation report that could keep it supported over the long-term. The yellow metal remains vulnerable to changes in inflation, Covid lockdowns […]
The gold market is seeing some moderate selling pressure on Tuesday despite seeing gains earlier in the session. Spot gold prices have now fallen below key support at $1850, and if they close below this level it could set the stage for further downside in the days ahead as more longs throw in the towel. […]
Spot gold prices are firmer in mid-morning action today as the latest jobs data did not disappoint. The non-farm payrolls data for April showed a rise of 428,000 jobs while the unemployment rate stood steady at 3.6%. This figure beat expectations for a rise of 400,000 and came just short of the March figure which […]
After some initial exuberance following yesterday’s FOMC meeting conclusion, investors have seemingly come to their senses today. Stocks are down and down huge, with the benchmark Dow Jones Industrial Average off by some 1200 points in late afternoon action. Spot gold is declining as is crude oil and equities, and it has seemingly become just […]
The markets are sitting tight and awaiting the latest FOMC meeting conclusion and announcement. It is widely expected that the Fed will raise rates by 50-basis points today rather than 25. Some have even suggested the central bank could elect to raise rates by 75-basis points today. Arguments can be made for all levels of […]
Wednesday afternoon could see some fireworks this week as the FOMC meeting concludes. It is now widely expected that the Fed will raise interest rates again, but will hike rates by 50 rather than 25-basis points as it did in the previous meeting. This could only be the first of several meetings, in fact, where […]
The gold bulls are fighting their way back today as stocks get hammered once again. The Dow Jones Industrial Average is down over 500 points at mid-day and could make fresh lows as the afternoon gets rolling. Numerous issues are driving risk aversion today, with the ongoing war in Ukraine being front and center. The […]
The gold market is just below the unchanged line in late morning action Thursday. The slight decline seen in gold is a far cry from the gains seen earlier in the session. Gold had popped higher upon the release of the latest GDP data which showed a contraction for Q1. GDP data showed a decline […]
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