Although the gold market finished Mondayโs session lower by over $5 per ounce, the metal was fairly quiet throughout the day today. Now at $1787 and change as of this writing, the bulls have not let the bears take the market too far below the key $1800 level. The gold market may, in fact, remain […]
After seeing some significant declines the last few days, the gold bulls are out in force on Friday. The bulls are pushing the yellow metal higher and to within striking distance of the key $1800 level. Recession fears are continuing to build, as a contraction in both manufacturing and the service sector weighs on sentiment. […]
The gold market is being sold off heavily on Thursday. Spot gold is down some $30 per ounce and has now fallen back below the key $1800 level. The yellow metal made a solid upside run in recent days, but if the bulls are unable to hold the $1800 level, that run may have been […]
The Federal Reserve raised interest rates by another 50 basis points Wednesday afternoon as expected. Now that the rate hike is out of the way, investor attention will turn to the central bankโs dot plot. The Fed said following the hike that it would continue to tighten monetary policy to fight inflation. The Fed statement […]
In perhaps the most important economic report of the week outside of tomorrowโs Fed interest rate decision, inflation appears to be cooling further. The latest reading of the Consumer Price Index showed inflation rising at a rate of 7.1% year-over-year. That figure was lower than the 7.3% rise forecast by many analysts and appears to […]
The gold market is being hit hard Monday as the new trading week gets underway. Investors may simply be getting a little spooked about this weekโs Fed decision on interest rates Wednesday. In addition to the Fed, there are several other central banks meeting this week that could also affect markets. Both the Bank of […]
The gold bulls are finishing off the week on the right foot. Spot gold prices are higher today by $8 per ounce, putting spot prices just under the $1800 level at $1797.50. With the market ending the trading week at a four-month high, the outlook for gold may be evenly split between the bulls and […]
The gold market is higher in mid-day action Thursday as the bulls hold their ground ahead of tomorrowโs inflation data. The bulls are taking advantage of the improved chart structure, which is inviting traders into the long side of the market, as well as improving risk appetite. The lessening of strict Covid-19 restrictions in China […]
The Gold market has been discussed significantly in recent months. The metal has had a hard time avoiding declines as the Fed has stayed the course thus far and continued to raise interest rates aggressively. Now that the Fed has signaled it may slow the pace of further rate hikes, the metal has seen a […]
The gold market saw a mild rebound Tuesday from the heavy decline seen Monday. Up less than $2 per ounce as of this writing, the gold market is well off its earlier session highs. As the day session closes in the green, however, the bulls have a small victory today. A weaker dollar and a […]
The gold market is solidly lower in early action Monday after being quite a bit higher earlier in the session. The yellow metal had hit a 3.5 month high before the bears took control today, and the overall trajectory of the market appears positive. The short-term technical advantage seen in the gold market could encourage […]
As we discussed briefly yesterday, markets are still reacting to the latest speech from Fed Chairman Jerome Powell. In the speech which took place yesterday, Powell took a decidedly dovish tone in his comments, essentially saying the Fed would now slow the pace of rate hikes starting as soon as next month. While Powell did […]
Much has been made of the Fed and its aggressive policy tightening in the last several months. Many investors have wondered when, not if, the Fed would send markets a signal that the aggressive hiking may stop and that a pause or even reversal could be in store. Such a signal may have been provided […]
The dollar has been a major factor in goldโs lack of upside in recent months. The Dollar Index has moved up to its highest level in years as the Federal Reserve signaled its plans to continue raising interest rates aggressively. The Fed has, thus far, continued to do so with another 75 point rate hike […]
The gold market has been closely linked to the Dollar Index and the crude oil market for some time now. The yellow metal was lower Monday as the dollar moved higher and as crude oil sank. The metal is seeing the opposite effect on Tuesday, however, as the crude oil market is higher and the […]
The rally in the dollar today comes after the Dollar Index hit a 3-month low last week. The dollar has been riding the coattails of the Fed, which has so far stuck with its plans for aggressive rate hiking. Next month could bring some key changes to the Fedโs rhetoric, however, and the central bank […]
The gold market is lower in late morning action on Thursday as bearish outside market action takes a toll. Not only are outside markets in a bearish posture for gold today, but some hawkish Fed commentary is also playing a role in goldโs downside. A strong rally in the dollar today combined with significantly weaker […]
The gold market is lower by about $4 per ounce in early afternoon action Wednesday. The market may be due for a pullback in price levels following the recent upside it has seen. On todayโs action, the selling has been limited due to a decline in the dollar and treasury yields. Any buying interest has […]
The gold market is higher by a few dollars per ounce in the early afternoon of Tuesday. The metal had been lower earlier in the day by several dollars, only to bounce back on the word of Russian Missiles being fired into Ukraine, with two of them reportedly traveling into Poland and killing two people. […]
The gold market is a tad higher in late afternoon trade Monday as the bulls look to catch their breath after the recent upside. The market has held last weekโs gains, thus far, and a change in market dynamics could keep gold moving offensively in the weeks to come. The Federal Reserve recently signaled a […]
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