The gold market is higher in early afternoon trade as the earlier dip was scooped up by bargain-hunting bulls. Spot prices are up over $10 per ounce following the conclusion of the day session as a combination of bargain hunting and short covering takes effect. The gold and other markets continue to monitor the ongoing […]
Following consecutive days of losses, the gold market saw a sharp rebound today. Spot prices rose by some $12.90 in mid-afternoon trade. As inflation continues its ascent to the highest level in some four decades, investors are increasingly looking for hedges against rising prices. The primary attraction appears thus far to be gold. As […]
The conclusion of the latest FOMC policy meeting has now come and gone. As expected, the central bank raised its Fed Funds rate by 25-basis points in what may be viewed as the opening salvo for rate hikes this year. The Fed alluded to possibly hiking rates as many as seven times this year in […]
The gold market is lower again today as the bears see some momentum building. While gold is well above the lows of the session, spot prices are still down sharply. Gold is lower on the day by over $21 per ounce currently after being lower by well over $30 per ounce earlier in the session. […]
After getting hammered late last week, the gold market is sharply lower again today to begin the new trading week. Spot gold prices are down significantly, declining by over $33 per ounce to $1957 and change. The metals are being sold off today as crude oil dipped below $100 per barrel and as risk appetite […]
Despite some seemingly bullish data released this morning, the gold market remains on the defensive following yesterday’s large sell-off. Spot prices are getting hit again today, declining by over $20 per ounce. Gold is well below the $2000 level at this time, and if the bulls do not step up soon could see further chart […]
After hitting fresh all-time highs for a brief period yesterday, the gold bulls appear to be booking some profits today following the recent sharp run higher. Key outside markets are also pointing to potential trouble for the gold market today. Stocks and cryptocurrencies are sharply higher while crude oil is lower. On a positive note, […]
The gold market hit a new all-time high today as risk aversion remains strong. News of a ban on Russian oil imports is playing a role today and the price of crude is higher by several percent. Higher prices for crude play into the ongoing inflation narrative, and stronger values for oil could translate into […]
The gold market is sharply higher in early action Friday as the war in Europe intensifies. The markets have also seen the latest non-farm payrolls data today, which showed a strong gain of some 678,000 jobs while estimates were looking for a rise of 440,000. Markets showed little to no reaction from the jobs data, […]
The gold market had gotten the day off to a strong start, rising by several dollars per ounce. That initial strength quickly dissipated, however, once markets got the latest weekly jobless claims data. The weekly claims saw a moderate decline, and the decline of about 18,000 jobs put weekly claims below consensus estimates. Continuing jobless […]
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