The gold market is on sale now, as prices nearly hit a 2.5-year low Thursday. The yellow metal is being hit by a number of bearish factors, including recession worries, demand concerns and a hawkish Fed. With spot prices now well below the $1,700 level, there may be little in the bearsβ way of taking […]
Following some recent inflation data, markets appear to be concerned the Fed will not only hike rates aggressively again this month, but will continue to do so in the months ahead. The idea of aggressive rate hikes by the central bank has put a dent into the gold market, and as of this writing the […]
The biggest economic data point of the week has now come and gone. The latest reading on the Consumer Price Index was not a good one, either, and took with it any hopes for the Fed to take it easy this month when it meets to hike rates again. The Fed will now almost certainly […]
The gold market was higher on Monday as a slumping dollar took its toll. The currency posted a two-week low today, not long after posting a 20-year high last week. A decline in treasury yields today also played a role in goldβs upside today. Stocks were quite strong today, with markets showing little signs of […]
The gold market finished the trading week on the strong side of the ledger, moving higher by about $7.50 per ounce. The bulls are trying to put some distance between spot prices and the $1700 level. Although spot prices remain below the $1720 level, the bulls do now have a bit more breathing room. […]
The gold market is higher Wednesday as losses in the dollar and falling yields boost demand. Despite the declines in the dollar and yields today, crude oil did see a large drop that took prices to an eight-month low, limiting goldβs upside in the process. The bulls have put some distance between the market and […]
The gold market is higher today as the non-farm payrolls data was a bit better-than-expected. According to the report, the U.S. added 315,000 jobs in August. Consensus estimates were looking for an increase of 295,000 jobs. While this headline figure is solid at first glance, the report did also contain some negatives. Both June and […]
The gold market is lower today as a stronger dollar and higher yields take a toll on the market. A lower crude oil market is also not helping gold at all as the metal sinks to the key $1700 level. While the market appears ready to close right at $1700, the bears are very close […]
The gold market is under some light selling pressure in early action Wednesday. The yellow metal has remained lower despite the ADP jobs figures coming in lower-than-expected. The ADP employment data showed a rise of just 132,000 jobs in August. Estimates were looking for an addition of 300,000 jobs. Although some analysts may use […]
The gold market is lower on Tuesday as the bulls continue to lose ground. Growing risk appetite, lower crude oil, and deteriorating technicals are keeping the gold bulls at bay and allowing the bears to move the market. Spot gold is down nearly $15 per ounce in early action as prices now sit around the […]
The Fed Symposium has now come and gone, along with Chairman Jerome Powellβs highly anticipated speech this morning. The Fed Chief did not provide much in the way of new information, but did suggest the Fed was ready and determined to stay the course in its fight against inflation. Powell reiterated the Fedβs thinking […]
The gold market is slightly higher in very quiet trade Thursday morning. Markets may simply be taking a wait-and-see approach to tomorrowβs speech by Fed Chairman Jerome Powell. He is expected to provide some important clues tomorrow about the Fedβs policy plans and may give markets much to think about as they await the next […]
The gold market is higher in early action Tuesday after starting the day off on a weaker note. Spot prices are up some $15 per ounce and are now back above the key $1750 level. The bulls have been reawakened today as some weaker-than-expected economic data could be changing market opinions about the Fed and […]
The gold market is lower this morning after hitting a three-week low in recent action. The dollar is pushing higher once again, hitting a five-week high overnight and now back near 20-year highs. The stronger dollar, along with some risk aversion today, are both weighing heavily on gold in early morning action. The Federal […]
The gold market is lower in late morning trade Friday as a stronger dollar takes a toll. The yellow metal is now near the $1750 level as the bears have distanced the market from the key $1800 mark. The pullback in prices should not come as much of a surprise, however, following goldβs recent upside […]
The gold market is just slightly higher in early action Thursday as the metal sees a corrective rebound and some short covering. The yellow metal is largely ignoring some stronger-than-expected economic data today and seems to have fully digested the release of the latest Fed meeting minutes yesterday afternoon. The Fed minutes can be […]
The gold market is off on Wednesday morning as concerns over demand take a toll. The weaker-than-expected data out of China this week combined with already-robust concerns over a U.S. recession may be more than the gold bulls can bear. Spot prices are slipping again today, down over $10 per ounce in early action. Outside […]
Days after hitting the $1800 level, the gold bulls are still struggling to maintain some upside momentum. Spot gold is down today by a few dollars per ounce as bearish outside market action takes place. The higher dollar and lower crude oil are having a bearish impact on gold as well as stocks hitting multi-month […]
The gold market is off to a tough start as the trading week gets underway. The yellow metal is being sold off hard today in early action as some disappointing data from China takes a toll. The recent Chinese data showed weakness in July for real estate, factory output, investment, and more. It has added […]
The gold market is higher in Friday afternoon action as the bulls continue their push towards the $1800 level. The market is now just over this key level, and if it can sustain prices above it could be gearing up for a rapid run higher. The yellow metal is a bit higher from where it […]
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