The gold market is solidly higher today as the bulls gain further momentum. Spot prices are up over $15 per ounce as of this writing and currently stand at over $1969. The bulls could look for a push this week to take prices above resistance at the $2000 level. A failure at this level could […]
The gold market is moving up a tad in late morning trade Wednesday as investors await the minutes from the latest FOMC meeting. At the core of investors, angst is whether the central bank will actually elect to raise rates by more than 25-basis points at the next meeting and other meetings beyond that. The […]
The worries over inflation have caused the Federal Reserve to take on a much more hawkish approach to monetary policy than originally anticipated. The Fed has already raised rates by 25-basis points and now believes it will have to hike rates another six times for a total of seven rate hikes this year. Not only […]
The gold bulls are still in firm control of the market as prices rose Monday to kick off the new trading week. The yellow metal rose today on stronger crude oil prices as well as ongoing worries over inflation. The ongoing war in Ukraine between Russia and Ukraine continues on, and Russia’s crimes against civilians […]
The gold market is moderately higher in early action Thursday as the latest reading of inflation remains stubbornly high. The yellow metal is moving up as stocks show more weakness and as crude oil declines while the dollar strengthens. The Biden Administration has been discussing releasing crude from the Strategic Petroleum Reserve to the tune […]
The gold market is higher in mid-morning trade Wednesday as crude oil sees some upside. The metals are also seeing some corrective bouncing after being pushed to five-week lows yesterday. The strong rebound in crude oil prices from a low this week of less than $100 per barrel is also lifting gold and other commodities. […]
The gold market is getting the week started off on the wrong foot as prices are moderately weaker at lunchtime Monday. Spot gold is down over $20 per ounce around $1937 as higher bond yields and sharply weaker oil prices take a toll. Today’s declines may also simply be due to a pullback within an […]
The gold market is lower today in mid-morning action as longs book some profits following recent strong gains. Despite being down by over $10 per ounce earlier in the session, the gold market is now down just $3 per ounce. Some bargain hunting and risk buying ahead of the weekend are not unexpected, and the […]
The gold market is on the offensive today as crude oil prices continue their recent ascent. Crude prices are up by nearly $5 per barrel in late morning trade as the notion of a boycott of Russian oil takes hold. Stocks are solidly lower on the day thus far as risk aversion remains robust. Although […]
The gold market is lower in early action today as recent commentary from Fed Chairman Jerome Powell is being viewed as more hawkish than anticipated. Rising treasury yields today are being blamed for gold’s poor performance in the aftermath of Powell’s hawkish comments yesterday. Powell suggested yesterday that the Fed could consider hiking rates by […]
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