The gold market is higher in mid-morning trade Wednesday as crude oil sees some upside. The metals are also seeing some corrective bouncing after being pushed to five-week lows yesterday. The strong rebound in crude oil prices from a low this week of less than $100 per barrel is also lifting gold and other commodities. […]
The gold market has had a tough day. Prices for gold fell by over $25 per ounce at the lows of the session as investor appetite for risk is higher today. Lower crude oil prices and higher yields are not doing the metal any favors, either. The bulls have stepped in to buy the earlier […]
The gold market is getting the week started off on the wrong foot as prices are moderately weaker at lunchtime Monday. Spot gold is down over $20 per ounce around $1937 as higher bond yields and sharply weaker oil prices take a toll. Todayβs declines may also simply be due to a pullback within an […]
The gold market is lower today in mid-morning action as longs book some profits following recent strong gains. Despite being down by over $10 per ounce earlier in the session, the gold market is now down just $3 per ounce. Some bargain hunting and risk buying ahead of the weekend are not unexpected, and the […]
The gold market is on the offensive today as crude oil prices continue their recent ascent. Crude prices are up by nearly $5 per barrel in late morning trade as the notion of a boycott of Russian oil takes hold. Stocks are solidly lower on the day thus far as risk aversion remains robust. Although […]
The gold market is lower in early action today as recent commentary from Fed Chairman Jerome Powell is being viewed as more hawkish than anticipated. Rising treasury yields today are being blamed for goldβs poor performance in the aftermath of Powellβs hawkish comments yesterday. Powell suggested yesterday that the Fed could consider hiking rates by […]
The gold market is higher in early afternoon trade as the earlier dip was scooped up by bargain-hunting bulls. Spot prices are up over $10 per ounce following the conclusion of the day session as a combination of bargain hunting and short covering takes effect. The gold and other markets continue to monitor the ongoing […]
Following consecutive days of losses, the gold market saw a sharp rebound today. Spot prices rose by some $12.90 in mid-afternoon trade. As inflation continues its ascent to the highest level in some four decades, investors are increasingly looking for hedges against rising prices. The primary attraction appears thus far to be gold. As […]
The conclusion of the latest FOMC policy meeting has now come and gone. As expected, the central bank raised its Fed Funds rate by 25-basis points in what may be viewed as the opening salvo for rate hikes this year. The Fed alluded to possibly hiking rates as many as seven times this year in […]
The gold market is lower again today as the bears see some momentum building. While gold is well above the lows of the session, spot prices are still down sharply. Gold is lower on the day by over $21 per ounce currently after being lower by well over $30 per ounce earlier in the session. […]
After getting hammered late last week, the gold market is sharply lower again today to begin the new trading week. Spot gold prices are down significantly, declining by over $33 per ounce to $1957 and change. The metals are being sold off today as crude oil dipped below $100 per barrel and as risk appetite […]
Despite some seemingly bullish data released this morning, the gold market remains on the defensive following yesterdayβs large sell-off. Spot prices are getting hit again today, declining by over $20 per ounce. Gold is well below the $2000 level at this time, and if the bulls do not step up soon could see further chart […]
After hitting fresh all-time highs for a brief period yesterday, the gold bulls appear to be booking some profits today following the recent sharp run higher. Key outside markets are also pointing to potential trouble for the gold market today. Stocks and cryptocurrencies are sharply higher while crude oil is lower. On a positive note, […]
The gold market hit a new all-time high today as risk aversion remains strong. News of a ban on Russian oil imports is playing a role today and the price of crude is higher by several percent. Higher prices for crude play into the ongoing inflation narrative, and stronger values for oil could translate into […]
The gold market is sharply higher in early action Friday as the war in Europe intensifies. The markets have also seen the latest non-farm payrolls data today, which showed a strong gain of some 678,000 jobs while estimates were looking for a rise of 440,000. Markets showed little to no reaction from the jobs data, […]
The gold market had gotten the day off to a strong start, rising by several dollars per ounce. That initial strength quickly dissipated, however, once markets got the latest weekly jobless claims data. The weekly claims saw a moderate decline, and the decline of about 18,000 jobs put weekly claims below consensus estimates. Continuing jobless […]
The gold market is sharply higher at lunchtime Tuesday as keener risk aversion and anxiety continue to plague markets. The gold bulls have overtaken key resistance on a closing basis today, as prices have run right through the $1923 level like a knife through warm butter. The question now becomes whether the bulls can make […]
The gold market is showing some strong upside in early action Monday as the new trading week gets underway. The general sense of βrisk-offβ is being fueled by several issues, with the ongoing Russian/ Ukrainian war being at the forefront.Β As the geopolitical situation deteriorates further, the risks to stocks and risk assets may increase […]
The war in Ukraine has had a profound effect on global markets. Yesterdayβs full-on assault by Russian troops opened the door to further sanctions, West aggression, and other issues that could complicate the situation further. Markets are singing a very different tune today, however, as it appears that Russia may be open to dialog. After […]
Its official-Russia has launched a full-scale invasion of Ukraine. After stationing troops along the border for weeks, Russia has now given the order to move into Ukraine. The news sent markets into a tailspin. Stocks were down sharply earlier in the day, with the Dow Jones Industrial Average declining by over 700 points at the […]
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