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Gold Hits Record Highs Rising with the US Dollar Over the last six weeks, gold and the US dollar have been moving higher in strong correlation. This is contrary to the typical moderately inverse relationship between the two Tier 1 bank assets. Gold & The Dollar I use the term “moderately” because the media and […]
Wall Street sees higher gold prices next week, Main Street gets pessimistic with NFP, Fed decision on the docket While gold would appear to have had a poor week, down over 2% since the open on Sunday night, a cursory glance at the weekly chart shows that virtually all of the losses were traders selling […]
Gold Price News: Gold Falls Back as Geopolitical Risks Ease Gold prices fell sharply at the start of the week, pulling back from near all-time highs as geopolitical risks were seen easing. Prices fell to around $2,320 an ounce by Tuesday afternoon, down from around $2,330 an ounce in late deals on Monday, and from […]
Sharp daily declines don’t spell the end of gold’s bull run – OANDA’s Kelvin Wong While gold has posted a pair of disappointing days this week, the technical picture still points to further price gains for the precious metal, according to OANDA Senior Market Analyst Kelvin Wong. “The price actions of Gold (XAU/USD) have shaped […]
Record gold prices are driving historic contract volumes across the metals complex – CME Group Gold’s recent surge to new all-time highs has coincided with historic performances for a wide range of metals contracts, including copper, silver, platinum, and lithium, according to the recently published Q2 2024 Metals Update from Chicago Mercantile Exchange (CME). The […]
Gold price could drop through the summer but will end the year around $2,500 – Capitalight’s Chantelle Schieven The gold market is seeing solid selling pressure after failing to hold its ground at $2,400 an ounce. Although the market has room to fall lower during the summer, one market analyst says that the precious metal […]
Gold has a new buyer – Lobo Tiggre Gold has a new buyer – Lobo Tiggre Gold's recent surge has been largely attributed to geopolitical tensions and economic uncertainties, but Lobo Tiggre, analyst and the Editor of the Independent Speculator says these are not the primary catalysts behind the rally. In a recent interview with […]
Main Street sows seeds of doubt for gold gains, but Wall Street believes conflict will continue to propel prices Gold prices followed a now-familiar pattern this week, trading in an elevated range until geopolitics shocked the market to highs, followed by retracement to a higher floor. Spot gold opened the week trading at $2,367 per […]
Gold shines amid geopolitical tensions and economic uncertainty Gold, the precious metal long revered as a safe-haven asset, experienced a respectable price increase on Friday, fueled by a confluence of geopolitical tensions and economic uncertainties. As of 5:25 PM EDT, gold futures based on the most active June 2024 contract settled at $2,413.80, after factoring […]
Gold Surges Despite Economic Strength and Hawkish Fed As of 5:30 PM EDT, gold futures for the most active April 2024 contract were fixed at $2,394.40, up $17.80 or 0.75%. Spot gold also rallied, currently trading at $2,378.76 after gaining $17.69 or 0.75% on the day. The precious metal managed to overcome headwinds from a […]