The gold market ended the session and week higher Friday as the bulls retook previous resistance at the $1800 level. Spot prices ended the day up over $23 per ounce at $1815. The strong showing today comes on the heels of this weekโs FOMC tapering announcement and could be the beginning of a sustainable run […]
The gold market is moving modestly higher in mid-morning trade Monday as the new trading week gets going. Spot prices are up almost $7 per ounce putting the yellow metal at $1790 and change. Despite some recent upside, the gold market has lacked any sustainable follow through on rallies or breakdowns in recent months. This […]
The gold market is sharply lower in mid-morning trade as the latest reading on inflation remained elevated. It was reported this morning that the third-quarter Employment Cost Index showed a rise of 1.3%. This reading was higher than estimates which were looking for a rise of .9%. The 4.4% year-over-year reading falls into the camp […]
The gold market is off to a slow start Wednesday as the trading week nears the halfway point. Spot gold is slightly lower in early morning action, trading down some $5.40 per ounce. The decline has not taken the yellow metal far from the $1800 level, however, and the bulls are still very much within […]
The gold market is off to a strong start as the new trading week gets underway. The yellow metal is modestly higher in early morning trade, with spot prices climbing back above the key $1800 level to sit at $1807 and change. The question many investors may now have is whether the metal will be […]
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 sharply higher in late morning trade today as concerns over inflation mount. Spot gold is up some $16 per ounce, now standing at $1785 and change. After some rough going in recent weeks, the metal has recovered and is now within striking distance of previous resistance at the $1800 level. […]
The gold market is seeing some upside in early action Tuesday as the International Monetary Fund, or IMF, trimmed its global growth forecast. The organization cited numerous reasons for the cut that included supply chain issues, the Delta variant and price pressures. The forecast for 2021 now stands at 5.9%, down from 6%. There were […]
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 moving higher in early action Friday as markets digest the latest jobs data. The September non-farm payrolls report released earlier today showed weak job growth. The country added just 194,000 jobs for the month while consensus estimates were calling for an additional 500,000 jobs raised. The September figure was even lower […]
Congress has reportedly reached a deal to avoid a debt crisis as the U.S. approaches the point it runs out of cash. Democrat Chuck Schumer announced today that Democrats and Republicans had reached an agreement on raising the debt ceiling by $480 billion. The agreement hikes the governmentโs borrowing authority until early December at which […]
The stock market saw some significant declines on Monday as the new trading week got underway. The question many investors may now be asking is whether October will hold more declines in store or even if a major market crash is imminent. The direction of equities is important for gold, as lower stocks may drive […]
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. Todayโs 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 Bidenโs 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, yesterdayโs 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 […]
The gold market is down in early action Thursday and down hard. Spot prices are lower by some $42 per ounce as futures traders play the short side of the market. The selling has taken prices well below previous resistance at $1800 and thus far the $1750 area is holding the bears in check. […]
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