The gold bulls are off to a slow start this week as trading resumes following the Thanksgiving-shortened last week. Gold is lower in mid-morning action, down by over $7 per ounce. Prices were firmer earlier in the session as investors appeared able to brush off the Omicron Covid strain and focus their attention elsewhere. That […]
The gold market had an interesting day, running sharply higher before seemingly running out of gas and falling back again. The market still finished the day session up modestly, but the day was a loser from a technical standpoint. After rising to well above the $1800 level in earlier action, the bulls found reason to […]
The gold market is slightly higher in mid-morning trade Monday after moving lower earlier in the session. Spot prices are up some $1.40 per ounce as the market appears to be awaiting further inputs. Rising bond yields and a stronger dollar may be the story today. The benchmark 10-eay treasury yield currently sits around […]
The gold market is seeing some degree of volatility as the new trading week gets underway. The yellow metal has seen a rapid reversal in mid-morning trade today. After being down several dollars per ounce, the market has now sprung higher with spot prices rising by some $7 per ounce. The earlier downside in […]
The gold bulls are out today as shorts cover and bargain hunters step into the market. The price of gold is up by nearly $40 per ounce and has likely squeezed many of the futures shorts out of the market. Today’s rally could set the stage for further price gains in the sessions ahead as […]
The gold market is seeing some minor buying activity as shorts look to cover some positions. The yellow metal is still quite a ways from the $1800 level, however, and may remain vulnerable to further selling pressure. Even with the Fed shakeup this week, the metal is still not seeing much of a bid and […]
The gold market is off to a slow start as the new trading week gets underway. Spot prices are little moved from unchanged, trading up some thirty cents per ounce. The market is focused on government spending today as two key issues come up for a vote later in the week. President Biden’s infrastructure […]
The gold market remains weak today following a variety of data that could allow the Fed to move forward with its tapering plans this year. Despite the rise in weekly jobless claims today of 16,000, yesterday’s Fed meeting is being viewed in a more hawkish light today and that is likely the primary culprit behind […]
The gold market is trying to hold onto some gains following a hectic day yesterday. The markets do appear to remain nervous, however, stocks are in the green (for now anyway) and there seems to be calmer heads prevailing today. Chinese markets remain closed today for a holiday. Property developer Evergrande remains the center […]
The markets are off to a rough start in early action Monday as stocks sink. Investors are becoming increasingly concerned about a Chinese property developer and its financial condition. The company, Evergrande, is in substantial trouble and markets are worried about the risk of contagion. China may now be facing its own form of a […]
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