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Gold prices slide lower as UofM consumer sentiment rises to 63.5 Stronger-than-expected U.S. consumer sentiment is adding further selling pressure to gold and is solidifying expectations that the Federal Reserve will raise interest rates by 25 basis points next month. Friday, the University of Michigan said the preliminary reading of its Consumer Sentiment Index rose […]
Gold, silver hit 13-mo. highs on tame U.S. PPI, slumping USDX Gold and silver prices are sharply higher in midday U.S. trading Thursday and scored 13-month highs. The metals bulls are being fueled by a tame U.S. inflation report, a slumping U.S. dollar index and rising crude oil prices. Gold bulls are now confident they […]
Gold, silver up, but down from daily highs on some profit taking Gold and silver prices are modestly higher but nearer the daily lows in midday U.S. trading Wednesday. Some profit-taking pressure from the shorter-term futures traders kicked in after both metals touched 13-month highs in the immediate aftermath of a tamer U.S. inflation report […]
Gold solidly down on profit taking, rebound in USDX Gold prices are sharply lower in midday U.S. trading Monday, on some profit-taking pressure from the shorter-term futures traders and as the U.S. dollar index is solidly up today, on a rebound after last week hitting a two-month low. Silver prices are just modestly down. Still, […]
Gold/Silver: The critical indicator every silver trader is watching Happy Easter to all of you, and with Good Friday here, the markets enjoy an early close after the release of the monthly Nonfarm payroll report. The number narrowly beat expectations showing an increase of 236,000 jobs, and the initial reaction gave a favorable boost to […]
The Fed, US dollar may stop gold's record run next week With so much uncertainty dominating financial markets, most analysts expect it's only a matter of time before gold prices hit new record highs above $2,000 an ounce. However, with the market looking slightly overstretched, it might be challenging for gold to hit its new […]
Gold sees routine corrective, profit-taking pullback Gold prices are modestly down in midday U.S. trading Thursday. Silver prices are slightly up. Both metals are seeing some normal chart consolidation after hitting 12-month highs on Wednesday. Gold and silver bulls still have the strong near-term technical advantage to suggest the path of least resistance for prices […]
Gold futures consolidate forming a base at recent highs above $2030 The solid breakout that moved gold futures above $2000 to a high of $2043 yesterday, and $2049.20 today indicates a new level of support well above $2000 per ounce. Currently, the most active June 2023 futures contract is fixed at $2037.10 a net decline […]
Breakout in gold takes futures to a high of $2043.40 in striking range of record high A solid breakout in gold moved futures pricing well above $2000 in trading today. Currently, the most active June 2023 contract is trading up $39.10 or 1.94% and fixed at $2039.40. That puts gold within striking range of the […]
Gold futures close above $2000 for the first time since March 2022 It has been just a little over one year ago that gold futures traded and closed above $2000 per ounce. On March 8, 2022 gold futures opened above $2000 per ounce, traded to a high of $2078 and closed at approximately $2043. Even […]