The gold market is moving higher in early action Friday as markets digest the latest jobs data. The September non-farm payrolls report released earlier today showed weak job growth. The country added just 194,000 jobs for the month while consensus estimates were calling for an additional 500,000 jobs raised. The September figure was even lower […]
Congress has reportedly reached a deal to avoid a debt crisis as the U.S. approaches the point it runs out of cash. Democrat Chuck Schumer announced today that Democrats and Republicans had reached an agreement on raising the debt ceiling by $480 billion. The agreement hikes the government’s borrowing authority until early December at which […]
The stock market saw some significant declines on Monday as the new trading week got underway. The question many investors may now be asking is whether October will hold more declines in store or even if a major market crash is imminent. The direction of equities is important for gold, as lower stocks may drive […]
The gold market is down in early action Thursday and down hard. Spot prices are lower by some $42 per ounce as futures traders play the short side of the market. The selling has taken prices well below previous resistance at $1800 and thus far the $1750 area is holding the bears in check. […]
The gold market is off to a stronger start in mid-am trade Monday. After being down earlier in the session, the bulls have circled up and driven prices higher by nearly $8 per ounce. The gains are coming ahead of tomorrow’s CPI report which could show inflation continuing to rear its ugly head. A […]
The gold market is surging higher following the latest jobs data which showed a dramatic miss. The non-farm payrolls data for August showed just 235,000 jobs created with an unemployment rate of 5.2%. The jobs created figure was a major miss from consensus estimates which were looking for some 720,000 jobs created. The data may […]
Recent data from the World Gold Council suggests that global central banks remain strong buyers of gold. Global central banks added just over 30 tons in July to their holdings, a figure that was inline with net purchases the month before. Gross purchases for July tallied some 34.3 tons, while net purchases for June had […]
The gold market is off to a quiet start as the new trading week gets underway. As the unofficial last week of summer gets started, markets will be looking forward to the return of training volumes and potential volatility. The market has seemingly digested last week’s Fed commentary from the symposium held in Wyoming. […]
The highly anticipated speech by Fed Chairman Jerome Powell hit the wires earlier Friday. Powell seemingly suggested that the central bank is strongly considering tapering its monthly security purchases, or QE, before the end of the year. The Fed Chairman did, however, take a more cautious tone about tapering, which could mean that he […]
The gold market is thus far not showing much reaction to the Fed symposium taking place in Wyoming this week. More than one Fed official has, thus far, suggested that the time to begin tapering stimulus may be closer than anticipated. The markets may show little, if any, reaction however before the streaming commentary of […]
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