The gold market is being sold off heavily on Thursday. Spot gold is down some $30 per ounce and has now fallen back below the key $1800 level. The yellow metal made a solid upside run in recent days, but if the bulls are unable to hold the $1800 level, that run may have been […]
The Federal Reserve raised interest rates by another 50 basis points Wednesday afternoon as expected. Now that the rate hike is out of the way, investor attention will turn to the central bank’s dot plot. The Fed said following the hike that it would continue to tighten monetary policy to fight inflation. The Fed statement […]
In perhaps the most important economic report of the week outside of tomorrow’s Fed interest rate decision, inflation appears to be cooling further. The latest reading of the Consumer Price Index showed inflation rising at a rate of 7.1% year-over-year. That figure was lower than the 7.3% rise forecast by many analysts and appears to […]
The gold market is being hit hard Monday as the new trading week gets underway. Investors may simply be getting a little spooked about this week’s Fed decision on interest rates Wednesday. In addition to the Fed, there are several other central banks meeting this week that could also affect markets. Both the Bank of […]
The gold bulls are finishing off the week on the right foot. Spot gold prices are higher today by $8 per ounce, putting spot prices just under the $1800 level at $1797.50. With the market ending the trading week at a four-month high, the outlook for gold may be evenly split between the bulls and […]
The gold market is higher in mid-day action Thursday as the bulls hold their ground ahead of tomorrow’s inflation data. The bulls are taking advantage of the improved chart structure, which is inviting traders into the long side of the market, as well as improving risk appetite. The lessening of strict Covid-19 restrictions in China […]
The Gold market has been discussed significantly in recent months. The metal has had a hard time avoiding declines as the Fed has stayed the course thus far and continued to raise interest rates aggressively. Now that the Fed has signaled it may slow the pace of further rate hikes, the metal has seen a […]
The gold market saw a mild rebound Tuesday from the heavy decline seen Monday. Up less than $2 per ounce as of this writing, the gold market is well off its earlier session highs. As the day session closes in the green, however, the bulls have a small victory today. A weaker dollar and a […]
The gold market is solidly lower in early action Monday after being quite a bit higher earlier in the session. The yellow metal had hit a 3.5 month high before the bears took control today, and the overall trajectory of the market appears positive. The short-term technical advantage seen in the gold market could encourage […]
As we discussed briefly yesterday, markets are still reacting to the latest speech from Fed Chairman Jerome Powell. In the speech which took place yesterday, Powell took a decidedly dovish tone in his comments, essentially saying the Fed would now slow the pace of rate hikes starting as soon as next month. While Powell did […]
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