The gold market was under some pressure earlier in the session. Following the June CPI print, gold moved rapidly lower down to a level of $1707. The metal quickly reversed, however, and now is up sharply on the day by nearly $15 per ounce. Despite the numerous bearish issues gold currently faces, the bulls have […]
The gold market is slightly lower in early action Tuesday. The yellow metal hit an 8.5-month low overnight and is seemingly stuck as the dollar continues to rise. The market is also being hampered by lower crude oil and a lack of fresh, bullish inputs. There are several major issues currently going on, none of […]
The gold market is lower again Monday as numerous issues weigh on the metal. A stronger dollar was a large factor in today’s price action as speculative positioning is now close to neutral. Bearish bets on gold have increased recently as hedge funds have dropped the metal, and long specs have seen a dramatic decline […]
The gold market is higher in early action Thursday as the bulls see a slight reprieve from recent selling pressure. Spot gold is higher by less than $5 per ounce, however, and has several hours to maintain those gains for a positive daily close. Gold hit a fresh 8.5-month low this week while silver also […]
The gold bulls appear to be taking a bit of a break. In the last two sessions, prices have declined from well over the $1800 level to a current price of around $1738. The bears came out aggressive again today, following up on recent declines. The bears took prices right through support at the $1750 […]
The gold market kicked off the holiday-shortened trading week on the wrong foot Tuesday as spot prices slid significantly. The spot gold market sold off sharply, and slid right through key support at the $1800 level. Prices are sitting in the $1766 area in later afternoon action and could be vulnerable to further selling pressure […]
After spending several weeks moving sideways, the gold bears appear to be trying to take control of the market. Prices have been under pressure for days now, and on Friday the bears were able to push spot gold prices below the $1800 level. The market has since come back several dollars per ounce, and currently […]
The gold market is declining on Thursday as the bears seek to build some momentum. Spot gold prices are down over $7 per ounce and now sitting around the $1810 level. The bears will likely look to make a run below the $1800 level in the days ahead, and if able to produce a close […]
The gold market is drifting a bit lower in early afternoon action on Wednesday as the dollar moves higher. The midweek dollar rally is keeping the gold bulls at bay and could have a lasting effect on the market if it continues to ascend. The dollar is likely taking its cues from the uncertainty in […]
The gold market is just below the unchanged line in mid-afternoon trade Tuesday. The market has been trading mostly sideways for the last few days now and appears unwilling, thus far, to stray far from the $1850 level. The bears have had a small edge in recent price action, however, and spot gold is now […]
The gold market kicked off the trading week on a sour note as risk appetite improved and worries over a recession eased. Spot prices are lower by over $3 per ounce in mid-afternoon action. The metal bulls are attempting to hold their own so far this week, and prices visited both sides of the […]
The gold market is weaker in mid-morning trade Thursday as commodity markets in general see a significant slump. Commodities are almost certainly being hit and hit hard by recession concerns and worries over declining demand in the months ahead. Gold and other markets appear to have undergone a switch from worrying about inflation to being […]
The gold market is a bit stronger today. Prices have still not retaken the $1850 level, however, and therefore could remain vulnerable to another wave of selling in the days ahead. Investors today are reacting to some conflicting market fundamentals, including a solid decline in yields and the dollar. Those declines are being offset by […]
There has been much discussion in recent weeks about the Fed and its plans for higher interest rates. The Fed has already raised the Fed Funds Rate a few times, including a surprise 75-basis point hike done last week. The central bank appears to want to show the world it means business, and will stop […]
The gold market has seen some significant ups and downs this past year. From riding high on easy monetary policy one minute to being drained on large rate hikes the next, the yellow metal has been all over the place. That trend has dissipated in recent months, however, as the market has maintained a trading […]
Following Wednesday’s surprise 75-basis point rate hike from the Fed, the gold market is higher as stocks are getting hammered. Although the 75-point hike was not totally unexpected, markets believed the Fed would raise rates by 50-points. The higher rate hike and expectations for another 75-point hike at the next FOMC meeting have heightened recession […]
The gold market is a bit softer today as the bears look to follow through on recent selling. A stronger dollar and rising yields are the primary culprits today behind gold’s weakness and may continue to limit the metal’s upside in the weeks ahead. Another hot reading on inflation today has done little if […]
The gold market erased solid early session losses today to reverse course and shoot higher. Spot gold prices are now sitting around a four-week high as risk aversion again takes hold and investors look for assets to hedge against the hottest inflation in over 40 years. The bulls have now scored a technically bullish “outside […]
The gold market is still not far from the $1850 level and could remain very subdued until next week. The FOMC meeting will take place next week and the announcement on policy is expected at its conclusion Wednesday afternoon. The three-week holding pattern that gold has been stuck in could continue until that day. Prices […]
The gold market was quiet today, very quiet in fact. Spot prices are now at $1851.70 in late afternoon trade. The bulls did score a victory, of sorts, as prices were ankle to maintain trade above the $1850 level. The bulls have their work cut out for them, however, if they want to put some […]
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