The gold bulls appear to be gaining momentum today, as spot prices are sharply higher in early morning action. Gold is up over $24 per ounce as inflation fears again drive buying. Silver has notched a seven-week high while gold is pushing up against a key resistance level. The next few sessions for gold could […]
The gold market is lower today as traders return from the long holiday weekend. As the benchmark Dow Jones Industrial Average craters by over 600 points in early afternoon trade, the gold market is not faring much better. Spot gold prices are currently down about $8 per ounce as the day session comes to a […]
The gold market is slightly lower in mid-morning trade Friday. The yellow metal is not showing much of a reaction to changing inflation expectations and a corresponding drop in consumer sentiment data. The latest University of Michigan Consumer Sentiment data declined to a reading of 68.8, down from the previous month’s reading of 70.0. The […]
The gold market saw some relief yesterday as Fed Chairman Jerome Powell testified regarding his nomination to retain his seat as Fed Chair for another four year term. The price of gold shot higher, rising well over one percent, on the notion that the Fed may maintain a high degree of flexibility as it looks […]
The gold market is under significant selling pressure again today as investors react to Wednesday’s release of the latest FOMC meeting minutes. The minutes were decidedly more hawkish in nature and suggested the Fed could start raising interest rates sooner than expected or more than expected. The market seemingly was caught off-guard and both stocks […]
The U.S. Mint recently announced that demand for physical gold hit its highest level since 2009. The mint said sales of its iconic American Gold Eagle coin were up 48% from the previous year, totaling some 1.25 million ounces of various denominations. Although gold saw some very strong months early in the year, the later […]
The gold market is seeing some buying Tuesday as the metal bounces back from the significant sell-off seen on Monday. After a poor start to the trading year, gold is attempting to hold its ground higher Tuesday as some key pieces of economic data missed expectations. The yellow metal is holding above the key $1800 […]
The gold market is seeing some solid buying on New Year’s eve, the final trading day of the year. The yellow metal is putting in a good showing today to cap off the end of a losing year in which the metal declined by several percentage points for its worst annual decline since it lost […]
The gold market has certainly seen some ups and downs in recent months. Worries over inflation, dollar weakness and uncertainty over central bank policies have all been bullish for gold. An increasingly hawkish Fed has, however, pierced that balloon of bullishness and let out much of the air in recent weeks. The Fed has not […]
The gold market is slightly lower in mid-day trade. Despite declines being seen in the Dow Jones Industrial Average of over 600 points, the yellow metal has been unable to generate any type of bid. There are several issues likely at work today putting a risk-off mentality into the markets, and the ongoing viral […]
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