The gold market is higher on Friday to cap off an interesting trading week. The yellow metal is up by nearly $12 per ounce in mid-afternoon action and is rapidly approaching the $1800 level. The metal broke out of its recent trading range following the latest FOMC meeting and thus far has not looked back. […]
The gold market is lower on Wednesday as investors monitor the midterm elections results from Tuesday. Although some races are still too close to call, it appears that the red wave many thought could be calling has fallen far short of expectations. Many Republican candidates have flopped, leading many to wonder how the party may […]
The gold market is sharply higher at midday Tuesday as a combination of factors drive buying in the metal. The market is seeing some benefit from short-covering, bargain hunting, and risk aversion as the crypto markets are sold off today. One crypto exchange has reportedly halted withdrawals today, and that has spooked investors into buying […]
The gold market saw net outflows from its ETFs again in October. Global ETF outflows were some 59 tons or $3 billion for the month of October. The outflows put the total net holdings of global gold ETFs down 52 tons for the year. Gold ETFs began the year on the right foot, seeing significant […]
The gold market is sharply higher Friday as a key recession gauge hit a 40-year high. Investors are reacting to the news that the yield on two-year notes has overtaken the yield of 10-year notes by 50 basis points. This is the most significant yield curve inversion since the 1980s, the last time the Federal […]
The highly anticipated FOMC meeting has now come and gone. As was widely expected, the Fed did raise rates again by 75-basis points. Whether the central bank provided any clues about future dovishness is debatable. The stock markets initially reacted to the rate hike by moving sharply higher. As time wore on, however, equities eventually […]
Although you wouldn’t know it from the gold market’s recent behavior, central bank buying of the yellow metal has remained robust. These financial powerhouses have bought significant quantities of gold in the third quarter as inflation worries and other factors have fueled market volatility and investor angst. A quarterly report by the World Gold Council […]
The gold market is a bit weaker Monday as investors prepare for this week’s FOMC meeting announcement. It is widely expected that the Fed will again raise interest rates by 75-basis points, marking the fourth consecutive hike of 75-points by the central bank in recent months. It is also expected that the Fed will raise […]
The gold market is seeing some solid selling pressure in early action Friday. Just as gold rallied Wednesday as the dollar declined and yields stumbled, the gold market is today being sold off as the dollar and yields rebound. With few outside developments to drive the gold market, investors have been focused on its key […]
Following a decent rally yesterday in the aftermath of a weaker dollar and declining yields, the gold market is now weaker Thursday as the Dollar Index stages a rebound. Prices may also be feeling the pressure of a better-than-expected GDP report which showed the first estimate of Q3 GDP up 2.6%. This was higher than […]
The gold market is higher on Wednesday as spot prices have climbed a solid $12 per ounce to now sit at $1665. The yellow metal hit a two-week high today as it benefited from a decline in treasury yields and the dollar. Also lending the metal a hand was stronger crude oil prices. There […]
The gold bulls are getting a slight reprieve from the recent selling pressure today as spot gold is up by several dollars per ounce. Spot prices are higher by over $5 per ounce at just under $1655 in early afternoon trade. The day’s upside may prove fleeting, however, as prices could continue to cave in […]
Egypt does not appear to like the idea that its currency should be pegged to the U.S. Dollar. The new central bank governor and his team are already working on a new set of currencies and gold that would form a new currency indicator. In order to change the notion that Egypt is pegged to […]
The gold market is higher at midday Thursday as treasury yields and the dollar have pulled back. Higher yields and a stronger dollar have been major obstacles to any upside in gold in recent months. The pullback in these markets today is giving the bulls a little reason to buy amid the recent trend lower. […]
The gold market is being hit hard today as rising bond yields and a stringer dollar take their toll on the metal. Down nearly $20 per ounce, the gold market has now hit a three-week low. The yellow metal does not seem to have much going for it this week as risk appetite is a […]
Inflation has been the topic of much financial discussion in recent months. The high pace of inflation, clocked at 40-year highs, has made everything more expensive. From gasoline to groceries to shelter to clothing, the prices of everyday goods and services have continued to rise. The strong bout of inflation has given the Federal […]
The gold market is lower on Friday as a soaring dollar and rising bond yields take a toll on sentiment. Down nearly $30 per ounce as of this writing, the market is now back below the important $1650 level and could see a test of $1600 in the days ahead. Risk aversion is higher this […]
The Fed has concluded its latest policy meeting today. The end of the meeting saw the central bank raise rates by another 75-basis points, for the third consecutive time. The Fed seems intent on getting inflation under control. The central bank discussed the economic slowdown likely to ensue and how unemployment is likely to rise. […]
Risk aversion in the marketplace remains elevated this week as markets prepare for another aggressive rate hike from the Fed on Wednesday. The Fed is widely expected to implement another aggressive rate hike of 75-basis points. Some have even priced in the chances of a full 100-point hike. Whatever the Fed does, the markets may […]
The gold market saw a bounce on Friday to finish out the trading week. The market is now sitting right on long-term support at the $1675 level. A battle may be seen early next week over this area as the bulls look to keep the three-year uptrend intact. If the bars are able to take […]
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