Wednesday morning is seeing more profit-taking in the gold market. The metal is already off the lows of the session, however, down less than $6 per ounce in mid-morning action. The yellow metal may be taking some heat today as the key outside markets have assumed a bearish posture. Crude oil is weaker today while […]
The gold market hit a fresh nine-month high earlier Tuesday before pulling back. The metal is being powered by positive chart structures, safe-haven demand and geopolitical risks as it continues to maintain trade above the $1900 level. Despite having reversed course this morning and now trading about $9 per ounce lower on the session, the […]
The gold market did not do much on Monday. The spot market is lower in mid-afternoon action by less than $1 per ounce. The profit-taking comes as no surprise following the metal hitting an eight-month high last week. Also possibly a factor in todayβs market action was a headline in a prominent financial newspaper that […]
As expected for some time now, the U.S. hit its debt ceiling today, forcing the Treasury Department to implement extraordinary measures to keep the nationβs bills paid. As the fight over debt rages on, both political parties will look to take advantage of the situation in the weeks ahead. The U.S. debt ceiling is just […]
The gold market is slightly lower in mid-day action Wednesday as short-term traders continue to book profits. Not helping the bulls either is the stronger dollar today and crude oil having backed off its high from earlier in the session. It has been a busy day for economic data, with the latest readings on the […]
The gold market saw some selling pressure on Tuesday as investors returned from the long Martin Luther King Jr. holiday weekend. At lunchtime Tuesday, gold is down by nearly $10 per ounce, but is holding above the key $1900 level. After hitting a fresh nine-month high overnight, gold saw fit to decline during the day […]
The gold bulls have taken the metal higher yet again Friday as the spot price exceeded the $1900 level and then some. The bulls are taking advantage of a few key factors to take the market higher. These factors include a continuing cooling of inflation data as well as an improving the University of Michigan […]
Billionaire investor Jeffrey Gundlach thinks so. The Doubleline Capital CEO believes now is the time to get into the yellow metal, as numerous key issues may soon come to a head. He cited last yearβs non-dollar performance in gold and how gold has now started to perform in dollar terms as well. Gundlach discussed how […]
The gold market is higher in action on Tuesday as the bulls look to continue the recent ascent in price. The metal is higher by a few bucks per ounce today, currently sitting just above the $1875 level. The bulls are well within striking distance of key resistance at the $1900 level and could look […]
The gold market was stronger on Monday as the bulls took advantage of the weakness in the dollar. Stronger crude oil prices also gave gold a boost as the yellow metal hit a fresh seven-month high. A bullish chart posture is also helping gold today as more and more momentum traders and short-term players enter […]
The gold market is sharply higher Friday as the bulls attempt to continue climbing a wall of worry. The yellow metal is higher after the key data point of the month, the jobs figures for December, were released. December saw a rise of 223,000 jobs while estimates were calling for a rise of 200,000 jobs. […]
The gold market is lower on Thursday as the market sees an expected pullback following recent strength. The yellow metal may be susceptible to more downside in the days ahead if the data stream is stronger than expected. That was already the case today when the latest ADP jobs data beat expectations handily. The ADP […]
The gold market is higher again today and hit a new six-month high earlier in the session. The yellow metal is being bid up as risk aversion remains robust. Investors are concerned about a variety of issues, including the risk of recession this year and the prospect of even higher inflation. The war in Ukraine […]
The gold market is kicking off the new year in the right way, with strong gains Tuesday that may attract more bullish follow through in the days ahead. Gold has already hit a six-month high today while silver has notched an eight-month high. What may make todayβs rally in gold even more impressive is the […]
Now that the final trading day of 2022 has come and is nearly gone, investors are likely to focus their attention on what the new year ahead may bring for the yellow metal. The gold market has had some solid momentum in the fourth quarter of 2022 that could very well find its way into […]
The gold bulls have done a good job, thus far, of holding recent gains for the metal. The yellow metal has held above the key $1800 level for a few days now, and the bulls have even put some more distance between that level and current prices. The question is whether the bulls can maintain […]
The gold market is sharply higher Tuesday as investors return from the Christmas Holiday. The idea of China scrapping its quarantine rule for inbound travelers is a major step for the globeβs second-largest economy to reopen its borders. The Chinese news is not only providing a major boost to gold and commodity markets, but is […]
The gold market is off to a poor start Thursday as prices have seen a sharp decline. As of this post, spot gold prices have now declined over $17 per ounce, putting them below the key $1800 level at $1796. U.S. Q3 GDP rose more-than-expected today, handily beating expectations which were calling for a reading […]
The gold market was quiet on Wednesday as it seems most investors have now taken off for the upcoming weekend holidays. The gold market did see some earlier small gains, as the market may still be digesting large gains seen earlier this week. The surprise move Tuesday by the Bank of Japan sent some shockwaves […]
The gold market was sharply higher on Tuesday as the bulls retook the $1800 level in convincing fashion. Spot gold now stands around the $1818 level and is up over $30 per ounce on the session. Increasing risk aversion as well as a weaker Dollar Index provided the bullish fuel today. Whether that trend continues […]
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