The gold market is higher, albeit not by much, as the markets figure out which way they wanna run in the aftermath of another inflation report that came in not as hot as expected. The lower inflation data may be a positive for risk assets such as stocks, and that may keep some selling pressure […]
The gold market has had a ride this morning as the latest data for the Consumer Price Index was released. According to the U.S. Department of Labor, the headline inflation rate declined from the previous month. July registered a reading of 8.5% versus estimates looking for a rise of 8.7%. On a monthly basis, the […]
The gold market is a bit quiet Tuesday as investors await some key inflation data due out this week. On Wednesday, markets will get the latest reading on the Consumer Price Index, or CPI. Thursday will feature the latest reading of the Producer Price Index, or PPI. The CPI data is expected to register a […]
The gold market is off to a strong start as the new trading week gets underway. Spot gold is higher by over $11 per ounce in early afternoon action. The bulls are within striking distance of the $1800 level and could challenge the area sometime this week. Dollar weakness and declining yields are the primary […]
The gold market is ending the trading week on a sour note Friday as prices have declined substantially. Spot gold is down over $15 per ounce as the day session winds down following the release of much stronger-than-expected jobs data. The U.S. added some 528,000 jobs in July, far above the estimates for an addition […]
The gld market is sharply higher Thursday as risk aversion and chart based buying are featured. The four-week high hit by gold today puts the bulls within easy striking distance of the $1800 level at which the next major test may occur. If the bulls can produce a close above $1800, it may not only […]
The gold market is taking a breather today as the bulls may have exhausted their near-term energy in recent days. Spot prices are down in late morning trade, albeit only by less than $1 per ounce. With the market currently sitting around the $1760 area, the bulls are still well within striking distance of the […]
The gold market is higher again today as bullish momentum continues to build. Prices hit a nearly four-week high today as increased risk aversion and keener safe haven demand fuel buying. Spot gold is rapidly approaching the $1800 level at which a key technical level could be taken out. If the bulls are able to […]
The laser several days have been interesting for the gold market. It started on Wednesday of last week as the Federal Reserve announced its decision to raise rates by another 75-basis points. Despite the large rate hike, the Fed was not seen as being as overwhelmingly hawkish as some had anticipated. Chairman Powell left the […]
The gold bulls are building on the rally of the last few days as the trading week comes to a close. Since the Fed raised rates by another 75-points on Wednesday, the gold market is higher by some 2%. The bulls have now out some significant distance between the market price and support at $1700. […]
The gold market is higher again today, having pushed slightly above the $1750 level. Gloomy economic data is the primary factor in todayβs upside, with the Federal Reserve possibly taking a more dovish approach also playing a role. The U.S. economy unexpectedly showed a contraction for the second-quarter today. Consumer spending was at its […]
The Fed raised interest rates on Wednesday for the fourth time in 2022. The Fed lifted rates by .75% while also admitting that the economy is slowing. The central bank hiked rates by .75% for the second time in a row as it looks to get control over inflation which sits at a 40-year high. […]
Ahead of this weekβs FOMC meeting and the likely hike in interest rates that will follow it, the IMF is now warning about the possibility of a global recession. According to the International Monetary Fund, global growth is now expected to decline .4% to a rate of 3.2% in 2021. The decline in growth was […]
The gold market is picking up where it left off last week. Spot gold is down over $8 per ounce in early afternoon action Monday. The market may be relatively quiet ahead of this weekβs FOMC meeting. The Fed meeting is likely to announce a 75-basis point rate hike, although there are some expectations for […]
The question of how gold may fare in the weeks ahead has become increasingly about its ability to tolerate another 75-point rate hike next week. The yellow metal has ended a five-week losing streak but still has numerous obstacles in the way of higher prices. After the European Central Bank, or ECB, raised rates […]
Could poor economic data give the gold market a boost? That seems to be the case today as gold rises following a larger-than-expected rise in weekly jobless claims. The U.S. Department of Labor reported today that weekly jobless claims rose by 7,000 to a level of 251,000. This is up from last weekβs figure of […]
There has not been much to report on the gold market in recent weeks. The bears did cause prices to slide, however, and the market has been eyeing a test of the $1700 level for days now. Volatility within the market has seemingly collapsed in what could be a sign of a large move to […]
The gold market is steady in early afternoon trade Tuesday as the market appears to be awaiting some fresh inputs. The outside markets are playing a large role in price action this week. Weaker crude oil and rising treasury yields are both keeping any upside limited. Dollar weakness, however, may be giving the market […]
The gold bears have gained some momentum this week. The bulls have held the bears from doing even more damage, however, in what may be viewed as a market positive. The bears took the price of gold below the $1700 level Friday before the bulls jumped in and took prices back above this key level. […]
The gold bears are now pressing their positions, taking prices below the $1700 level in earlier action Thursday. Although the yellow metal has since bounced back above $1700, the bears appear to be in firm control of the market at this point. That could mean that a capitulation type of event may be in store […]
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