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Gold Price to New Heights ? Since its low in November 2022, the price of gold in dollars has climbed nearly +15% (compared to +4.5% in euros). The rising cost of gold production and the declining profitability of mining companies largely explain this movement. As early as November 2022, we were insisting on the strong […]
Gold price to take direction from Powell's testimony, U.S. jobs report next week After five consecutive weeks of losses, the gold market posted its first weekly gain. Analysts say the precious metal will now take direction from the upcoming Federal Reserve Chair Jerome Powell's testimony and the February employment report. After testing the lows at […]
Gold/Silver -he next bull wave begins It was a turning point for Precious Metals this week as Gold, Platinum, and Silver all rose after six straight down weeks. The rally came on the heels of a stronger U.S. Dollar and another cycle high in Treasury Yields. The physical buying this year has been robust, and […]
Rising USDX, U.S. Treasury yields put price pressure on gold, silver Gold and silver prices are weaker in early U.S. trading Thursday, as rising U.S. Treasury yields and an appreciating U.S. dollar on the foreign exchange market are bearish outside market forces working against the metals market bulls on this day. April gold was last […]
Gold and silver are tactical plays ahead of data storm, Powell's Senate testimony – Pepperstone Precious metals could be a tactical play ahead of a data storm in the next two weeks, including Federal Reserve Chair Jerome Powell's testimony before the U.S. Senate, said Pepperstone's head of research Chris Weston. It is getting harder to […]
Gold trades higher for a second consecutive day overcoming dollar strength After four consecutive days in gold traded to a lower high, a lower low, and a lower close than the previous day, traders have witnessed a pivot that began yesterday. Gold futures traded to the lowest value today hitting an intraday low of $1810.80. […]
Gold trades lower until you factor in dollar weakness Gold would have traded lower today if it was not for the dollar's weakness. The dollar is currently down 0.543 points or 0.52% with the dollar index fixed at 104.615. Concurrently, gold futures basis most active April contract is trading up $7.00 or 0.40% and fixed […]
Gold at risk of a major drop as prices at 'pivotal point' – analysts With the latest inflation numbers stressing out markets across the board, gold is at a "pivotal point," according to analysts who are not ruling out a deeper selloff if gold drops below $1,800 an ounce. This week's big surprise was the […]
War-time economy and gold's $2k target Gold is at a pivotal point as prices approach $1,800 an ounce. Analysts say that gold is at risk of a much deeper selloff if that support level is lost. Here's a look at Kitco's top three stories of the week: 3. The hawkish Federal Reserve minutes from February. […]
PCE inflation index jumps to 5.382% YOY or 0.6% in January The preferred inflation index used by the Federal Reserve; the core Personal Consumption Expenditures (PCE) index jumped to its highest value since last summer. The core PCE increased by 0.6% in January when compared to the prior month, taking the year-over-year PCE to 5.382%. […]