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Gold, silver see routine profit taking Gold and silver prices are solidly lower in midday U.S. trading Monday. Normal corrective pullbacks and some profit taking by the shorter-term futures traders were featured to start the trading week, following recent good price gains for both metals. A firmer U.S. dollar index on this day also worked […]
Hawkish Fed surprise could knock down gold price next week Even though gold is looking to end the week above $1,800 an ounce, there is a high chance for a move lower as the Federal Reserve can still surprise on the hawkish side, according to analysts. Despite the rally, the precious metal is trading essentially […]
Russia's gold reserves a target in U.S. defense spending bill The U.S. continues to target Russia's massive gold reserves in an effort to sanction the country for its nearly year-long invasion of Ukraine. Thursday, the U.S. House of Representatives passed the annual National Defense Authorization Act, which will boost defense spending to a record $858 […]
Gold trades sideways as investors wait for next week’s FOMC and CPI report Unlike yesterday’s double-digit gain in gold prices, today we see gold once again consolidating as it did on Tuesday. Tuesday’s price consolidation in gold indicated that the dramatic decline that occurred on Monday was more akin to a one-and-done scenario than the […]
Gold breaks above its 200-day moving average then moves back below it Gold futures basis the most active February 2023 contract opened in New York at $1783.30 and traded to a high of $1803.20 just above its 200-day moving average which is currently fixed at $1800.70. The price point of this long-term moving average at […]
Gold consolidates after trading to a double top near $1825 yesterday Market participants are acutely aware of next week’s FOMC meeting which begins on Tuesday, December 13, and concludes the following day. Following the conclusion of the last FOMC meeting of the year, the Federal Reserve will release a statement which will be followed by […]
Gold, silver hit hard by profit taking, bearish outside markets Gold and silver prices are sharply lower in midday U.S. trading Monday after hitting multi-month highs overnight. The metals are being hit by heavy profit taking from the shorter-term futures traders and by bearish outside markets. The U.S. dollar index is solidly higher and crude […]
Will $1,800 bring the gold bulls back? Analysts look for follow-through buying next week rowing expectations that the Federal Reserve will slow the pace of rate hikes are creating new momentum in the gold market as prices ended the week above $1,800 an ounce. However, some analysts aren't entirely convinced that new capital is coming […]
Solid performances from gold & silver and a jobs report above expectations Solid performances from gold & silver and a jobs report above expectations Both gold and silver had stellar performances this week. This week the precious metals moved on both the jobs report and chairman Powell’s speech on Wednesday. Gold futures opened today at […]
Gold, silver rally amid bullish outside markets, dovish Powell Gold and silver prices are sharply higher in midday U.S. trading Thursday, with gold notching a 3.5-month high and silver a six-month high. A slumping U.S. dollar index, higher crude oil prices and falling U.S. Treasury yields on this day are all boosting the precious metals […]
