After some initial exuberance following yesterdayโs FOMC meeting conclusion, investors have seemingly come to their senses today. Stocks are down and down huge, with the benchmark Dow Jones Industrial Average off by some 1200 points in late afternoon action. Spot gold is declining as is crude oil and equities, and it has seemingly become just […]
The markets are sitting tight and awaiting the latest FOMC meeting conclusion and announcement. It is widely expected that the Fed will raise rates by 50-basis points today rather than 25. Some have even suggested the central bank could elect to raise rates by 75-basis points today. Arguments can be made for all levels of […]
Wednesday afternoon could see some fireworks this week as the FOMC meeting concludes. It is now widely expected that the Fed will raise interest rates again, but will hike rates by 50 rather than 25-basis points as it did in the previous meeting. This could only be the first of several meetings, in fact, where […]
The gold bulls are fighting their way back today as stocks get hammered once again. The Dow Jones Industrial Average is down over 500 points at mid-day and could make fresh lows as the afternoon gets rolling. Numerous issues are driving risk aversion today, with the ongoing war in Ukraine being front and center. The […]
The gold market is just below the unchanged line in late morning action Thursday. The slight decline seen in gold is a far cry from the gains seen earlier in the session. Gold had popped higher upon the release of the latest GDP data which showed a contraction for Q1. GDP data showed a decline […]
The gold market is moderately lower today as the bearish slump continues for the metal. Down nearly $18 per ounce at lunchtime Wednesday, the gold market remains below the key $1900 support level. Rising government bond yields and a surging dollar are both taking a bite out of sentiment today. Eroding technicals are also making […]
Bulls Have Some Work To Do The gold bulls have their work cut out for them. The yellow metal is modestly higher today as it sees a corrective bounce from recent weakness. Spot gold is trying to recapture the $1900 level today as it sank to a nine-week low yesterday. Some bargain hunters have […]
The gold market is sharply lower at lunchtime Monday as fears over Covid take hold. Both gold and silver are lower today, hitting two-month lows in the process. The selling was not limited to precious metals, today, and the entire raw commodity sector was hit hard over demand worries as Covid again spreads through China. […]
Inflation has been the talk of the town for months now. After previously suggesting that price pressures were transitory in nature and likely to pass, the Federal Reserve now acknowledges the inflation problem and appears ready to act to put a halt to price pressures. The Fed has already raised the Fed Funds rate by […]
Gold is lower today as the stock markets move higher. The Dow Jones Industrial Average is up nearly 200 points in early action Thursday as investors shake off some risk aversion and appear hungry to buy. Whether todayโs rally is sustainable is another question entirely, however, as ongoing worries over the war in Ukraine and […]
The gold market is off to a quiet start Wednesday. Spot gold is $2.50 per ounce at $1952.60 in early going as investors take a wait and see approach to the trading day. Gold has come back after being down several dollars per ounce earlier in the day in what may be an encouraging sign […]
The gold market is sharply lower today as rising bond yields and a stronger dollar take their toll. Spot gold prices are down by over $25 per ounce at $1953 and change in mid-morning action. Thus far, the yellow metal has been able to hold key support in what may be an encouraging sign for […]
The gold bulls are knocking on the $2000 per ounce level today as the yellow metal sees moderate gains in early morning action. Spot gold prices are higher by over $10 per ounce in early action as flight to safety and chart buying drive prices higher. Traders and investors share three primary sources of concern […]
The gold market is off a few dollars per ounce in early action Thursday as the bulls take a breather. Spot gold prices are down by almost $6 per ounce on a busy economic data day as some back and fill trade takes place. Todayโs decline should not only not be a cause for concern […]
In a follow up to yesterdayโs upside, the gold market is moving solidly higher again today as hot inflation and bullish outside market activity fuel buying. Spot prices are up nearly $15 per ounce at lunchtime on Wednesday and are now well within striking distance of resistance at the $2000 level. The latest reading of […]
The gold market is solidly higher today as the bulls gain further momentum. Spot prices are up over $15 per ounce as of this writing and currently stand at over $1969. The bulls could look for a push this week to take prices above resistance at the $2000 level. A failure at this level could […]
The gold market is moving up a tad in late morning trade Wednesday as investors await the minutes from the latest FOMC meeting. At the core of investors, angst is whether the central bank will actually elect to raise rates by more than 25-basis points at the next meeting and other meetings beyond that. The […]
The worries over inflation have caused the Federal Reserve to take on a much more hawkish approach to monetary policy than originally anticipated. The Fed has already raised rates by 25-basis points and now believes it will have to hike rates another six times for a total of seven rate hikes this year. Not only […]
The gold bulls are still in firm control of the market as prices rose Monday to kick off the new trading week. The yellow metal rose today on stronger crude oil prices as well as ongoing worries over inflation. The ongoing war in Ukraine between Russia and Ukraine continues on, and Russiaโs crimes against civilians […]
The gold market is moderately higher in early action Thursday as the latest reading of inflation remains stubbornly high. The yellow metal is moving up as stocks show more weakness and as crude oil declines while the dollar strengthens. The Biden Administration has been discussing releasing crude from the Strategic Petroleum Reserve to the tune […]
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