Utilising MarketHive to Promote CryptoCurrency
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 […]
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, […]
