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Gold, silver prices down on demand worries, bearish outside markets Gold and silver prices are solidly lower near midday Tuesday. Weaker economic data coming out of China has prompted increased concerns about consumer and commercial demand for precious metals. Meantime, bearish outside market forces on this day are working against the metals markets—firmer U.S. dollar […]
Debt ceiling negotiations will resume on Tuesday which supports gold prices A second debt limit meeting between President Joe Biden and Senate majority leader McCarthy and other top congressional leaders will be held tomorrow, Tuesday, May 16. The divide between both sides was too wide for any progress to result from their first meeting. Staff […]
More than a quarter of Americans now view gold as the best long-term investment Gold is holding above $2,000 an ounce, but it's not making any new significant gains. And silver is down more than 6% in the last five days. Weaker economic data has reignited recession fears, keeping gold and silver on the sidelines […]
Gold price troubled by U.S. dollar's moves as Fed's rate expectations diverge After hitting a high of $2,055 an ounce this week, a move higher in the U.S. dollar weighed on the gold market, forcing the metal to end the week lower. Analysts point to divergence in Federal Reserve interest rate expectations as additional noise […]
Biden and McCarthy locked in disagreement postponing negotiations The Washington standoff over raising the debt ceiling has raised economic concerns on a global basis. A nonpartisan congressional report cited a "significant risk” of a historic default within the first two weeks of June. A report by the U.S. Congressional Budget Office confirmed statements by Treasury […]
Gold, silver hit by heightened recession worries Gold prices are lower and silver prices sharply lower in midday U.S. dealings Thursday. Some fresh banking jitters and weaker U.S. economic data today have rekindled concerns about an economic recession being on the horizon. Gold and silver market bulls are somewhat frustrated their metals are not performing […]
Gold, silver sell off on profit taking; US PPI now in focus Gold and silver prices are lower at midday Wednesday and have erased the modest gains seen in the immediate aftermath of a U.S. inflation report that was close to market expectations. Profit taking from the speculative futures traders is featured in both markets. […]
Gold, silver traders tread water ahead of U.S. debt talks, CPI Comex gold and silver futures prices are not straying too far from unchanged levels at midday Tuesday. Precious metals traders are very tentative ahead of important government and economic developments in the U.S. that will soon come into play for the marketplace. June gold […]
With the chance of a U.S. default in a matter of weeks, U.S. Treasury Secretary Janet Yellen warned that if the debt ceiling is not lifted, it could trigger a "constitutional crisis." "It's Congress's job to do this. If they fail to do it, we will have an economic and financial catastrophe that will […]
News Bites The U.S. and China are on 'brink of war' as gold touches record highs and banking sector troubles intensify Gold's price action was defined by major volatility this week. Gold Comex futures tested record highs as the banking sector troubles intensified. Markets also dissected Federal Reserve Chair Jerome Powell's messaging, while Friday's stronger-than-expected […]