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Gold consolidates but remains on a 'golden cross path' higher – NDR's Tim Hayes The gold market could continue to consolidate around $2,000 an ounce as the Federal Reserve prepares to raise interest rates one last time and then hold the line until inflation is under control, according to one analyst. However, even this new […]
Info from Thursday’s GDP and Friday’s PCE report will guide investors This week will contain two exceedingly important government reports on the US economy. These two reports will be exceedingly important in guiding the final decision of the Federal Reserve at the FOMC meeting next week. Beginning on Thursday the Bureau of Economic Analysis (BEA) […]
Gold price plunges $30, but analysts focus on Fed pause after May rate hike Gold tumbled $30 on the day and dropped below the critical $2,000 an ounce level, but analysts said there is enough buying interest to boost prices back up. Significant volatility in the U.S. dollar and Treasury yields markets took a toll […]
Gold is just stepping back to build a running start After a month of massive volatility, markets are now comfortable with the idea that the Federal Reserve is not done raising interest rates. Not only is a 25-basis point hike for May firmly priced in, but markets have now pushed back the timing of any […]
The hawkish Fed narrative continues to underscore the need for further rate hikes The recent volatility that led to diminished bullish market sentiment for gold has diminished as gold continues to effectively find support at $2000 per ounce and above. Today gold traded to a low of $2002.20, effectively above the current critical support level […]
Fed narrative alarms traders who believe that a rate pause is imminent after the May rate hike Recent volatility led to diminished bullish market sentiment for gold causing a price break and taking gold futures to $1980.90 before recovering. This morning in New York traders witnessed a quick and powerful price decline in gold breaking […]
Gold has found support above $2000 aided by the belief the Fed will pause hikes soon Over the last 10 trading days, gold futures have effectively closed above $2000 per ounce. Although on an intraday basis, gold has moved below $2000 on three occasions, gold prices recovered and closed above $2000 on each instance. On […]
Gold futures trade to $1993.40 and recover back above $2000 As of 4:25 PM EST, gold futures basis the most active June 2023 contract is trading down $8.50 or 0.42% and fixed at $2007.20. In earlier trading market participants actively moved gold below the key psychological level of $2000, taking June gold to its intraday […]
Gold prices remains under pressure as U.S. retail sales drop 1% in March Recession fears could start to pick up again as U.S. consumers cut back on their spending, with retail sales numbers dropping more than expected last month. U.S. retail sales dropped 1.0% in March, following a revised 0.2% decline in February, according to […]
Wild daily swings define gold price action on its path to record highs, focus on Fed speak and bank earnings next week The gold market is ending the week with another massive move. After rising to a 13-month high Thursday, gold gave up all weekly gains Friday, falling $40 on the day. On the macro […]