The gold market is sharply higher on Wednesday as demand for safety takes center stage. The war in Gaza has taken a nasty turn for the worse. It was reported that an Israeli bomb hit a hospital in Gaza, killing 500 people. Hamas has blamed an Israeli air strike for the tragedy while Israeli has […]
The gold market has gotten a solid boost in recent trade from the Hamas attack on Israel that took place over the weekend. Hamas attacked Israel on Saturday in a move that took the country by surprise. The worst attack on Israel in some 50 years has already left 1500 dead and many more injured. Some […]
The gold market finished the session higher on Monday by nearly $10 per ounce. The upside in the market was relatively quiet, however, and will likely remain that way until the Fed announces its decision on rates Wednesday afternoon. The central bank is widely expected to hold rates steady this week while maintaining its recent […]
The gold market is slightly higher in early action Thursday following the release of the latest weekly jobless claims data. Jobless claims did not rise as much as expected this week, with the final figure coming in at 216,000 claims. Consensus estimates were looking for a rise of 232,000 claims. The better-than-expected data may alleviate […]
A rally in the Dollar Index as well as weaker crude oil prices were not the only factors sinking gold in today’s action. Weaker-than-expected data out of China overnight also sunk the metals and may keep the bulls second-guessing their intentions. The world’s second-largest economy saw its exports decline by 14.5% in July, year-over-year, and […]
The gold market is solidly lower in mid-afternoon trade on Tuesday. Amid the lack of fresh market inputs, investors are focusing their attention today on the key outside markets. Unfortunately for the bulls, all of these markets are in a bearish posture for gold today. The dollar is higher, crude oil is weaker and treasury […]
The gold market is holding strong and near-session highs following the latest Fed rate hike. The Fed just raised its main interest rate by another 25 basis points, putting interest rates at a 22-year high. The markets showed little initial reaction to the rate hike, which was fully expected to happen. Markets are likely to […]
The gold market is lower on Friday as a stronger dollar takes a toll. The solid rebound for the dollar this week is having a bearish effect on the metal, as slow, summertime trading also weighs. With no economic data set for release today, the market could simply drift the rest of the session as […]
The gold market is trading just above the unchanged mark in afternoon action Monday. Up by less than $1 per ounce, the yellow metal has been slightly higher and slightly lower on the day. Lazy summertime price action like this is typical this time of year, and several more weeks of this could be seen […]
The gold market did not see much bullish action after the weekend’s events in Russia. Spot gold is up by a few bucks per ounce in early afternoon action and any haven demand for the metal could be characterized as mild. The aborted insurrection in Russia over the weekend has raised some key concerns, including […]
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