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Strong Bullish sentiment in gold as Powell talks down inflation threat The rising inflation threat is creating some significant bullish sentiment in the gold market, even as Federal Reserve Chair Jerome Powell tries to talk down those growing concerns Early Friday, gold prices rose to a six-week high, pushing above $1,800 an ounce; however, most […]
Inflation threat can drive gold prices back to $1,830 next week The growing inflation threat remains the most extensive support for the gold market as analysts see the potential for prices to test critical resistance around $1,830 in the near term. Friday morning, gold prices pushed to a six-week high as rising inflation pressures have […]
Gold price to double as Fed kicks off tightening and economy flatlines Gold has the potential to double once the Federal Reserve begins to tighten and hike rates to fight off hotter-than-expected inflation, said Peter Boockvar, chief investment officer at Bleakley Advisory Group. "If you inflation adjust gold for its 1980 high, it can go […]
Gold, silver rally on inflation worries Friendly charts Gold and silver prices are solidly higher near midday Wednesday. Concerns about rising inflation are prompting buying interest in the hard asset metals. Also, the technical postures for both precious metals have turned more bullish recently. December gold futures were last up $13.80 at $1,784.20.December Comex silver […]
Gold sees slight gains, silver solidly up and hits 5-wk high Gold and silver prices are higher in midday U.S. trading Tuesday, with silver sharply up and notching a five-week high. Gold prices have backed well down from the session high on profit taking by the shorter-term futures traders. A drop in the U.S. dollar […]
Another failure at $1,800, what happened? Gold's trading pattern got many analysts excited this week, with some even saying that hotter-than-expected inflation data was a game-changer for gold. But things didn't pan out as expected, with gold tumbling nearly $30 on Friday following a strong retail sales number out of the U.S. So what happened? […]
Gold's technical problem – 'Massive resistance' at $1,800 keeps gold price down – analysts Gold ran into "massive resistance" at the $1,800 an ounce level, triggering a $30 retreat Friday. And analysts say that gold won't commit to a rally until there is enough interest to take gold past its key technical barriers. Weighing on gold […]
Multiple factors create a perfect storm pressuring gold lower A combination of events collectively has put tremendous bearish pressure on gold pricing. At least for today, the combination of all of these events has resulted in a perfect bearish scenario causing a $30 drop-in gold futures. As of 5:10 PM EDT, the most active December […]
Gold, silver hit 4-week highs on improved charts, inflation worries Gold and silver prices are higher in midday U.S. trading Thursday and hit four-week highs. The metals are being propelled up by improving near-term chart postures and lingering concerns about rising and even problematic price inflation. December gold futures were last up $4.30 at $1,798.80. […]
Gold price remains near daily highs as Fed sees tapering beginning in mid-November Federal Reserve minutes from the September meeting showed central bank officials looking to start reducing their bond-buying stimulus program as soon as mid-November or mid-December, with plans to wrap up in the middle of next year. "Participants generally assessed that, provided that […]