The gold market saw net outflows from its ETFs again in October. Global ETF outflows were some 59 tons or $3 billion for the month of October. The outflows put the total net holdings of global gold ETFs down 52 tons for the year. Gold ETFs began the year on the right foot, seeing significant […]
The gold market is sharply higher Friday as a key recession gauge hit a 40-year high. Investors are reacting to the news that the yield on two-year notes has overtaken the yield of 10-year notes by 50 basis points. This is the most significant yield curve inversion since the 1980s, the last time the Federal […]
The highly anticipated FOMC meeting has now come and gone. As was widely expected, the Fed did raise rates again by 75-basis points. Whether the central bank provided any clues about future dovishness is debatable. The stock markets initially reacted to the rate hike by moving sharply higher. As time wore on, however, equities eventually […]
Although you wouldn’t know it from the gold market’s recent behavior, central bank buying of the yellow metal has remained robust. These financial powerhouses have bought significant quantities of gold in the third quarter as inflation worries and other factors have fueled market volatility and investor angst. A quarterly report by the World Gold Council […]
The gold market is a bit weaker Monday as investors prepare for this week’s FOMC meeting announcement. It is widely expected that the Fed will again raise interest rates by 75-basis points, marking the fourth consecutive hike of 75-points by the central bank in recent months. It is also expected that the Fed will raise […]
The gold market is seeing some solid selling pressure in early action Friday. Just as gold rallied Wednesday as the dollar declined and yields stumbled, the gold market is today being sold off as the dollar and yields rebound. With few outside developments to drive the gold market, investors have been focused on its key […]
Following a decent rally yesterday in the aftermath of a weaker dollar and declining yields, the gold market is now weaker Thursday as the Dollar Index stages a rebound. Prices may also be feeling the pressure of a better-than-expected GDP report which showed the first estimate of Q3 GDP up 2.6%. This was higher than […]
The gold market is higher on Wednesday as spot prices have climbed a solid $12 per ounce to now sit at $1665. The yellow metal hit a two-week high today as it benefited from a decline in treasury yields and the dollar. Also lending the metal a hand was stronger crude oil prices. There […]
The gold bulls are getting a slight reprieve from the recent selling pressure today as spot gold is up by several dollars per ounce. Spot prices are higher by over $5 per ounce at just under $1655 in early afternoon trade. The day’s upside may prove fleeting, however, as prices could continue to cave in […]
Egypt does not appear to like the idea that its currency should be pegged to the U.S. Dollar. The new central bank governor and his team are already working on a new set of currencies and gold that would form a new currency indicator. In order to change the notion that Egypt is pegged to […]
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