Blog posts tagged with 'gold'

Good morning. The precious metals are lower in early U.S. trading.

U.S. calendar features Empire State Index, FedSpeak from Harker.

While the dollar index overnight did not show a definitive downside extension, the charts and Fed news favor the bear camp in the Dollar which in turn favors the bull camps in both gold and silver.

Apparently, the meeting minutes from the September Fed meeting produced concern among Fed members with the threat against growth rising and perhaps paralleling the risk of inflation.

In fact, most Fed members viewed the economic outlook as highly uncertain resulting in a consensus of proceeding carefully before raising rates again...[MORE]

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Oct 12 (Reuters) - Gold extended gains to a two-week high on Thursday, as the dollar and Treasury yields ticked down on the Federal Reserve’s cautious tilt in tone ahead of a U.S. inflation print that could offer further rate cues.

Spot gold was up 0.5% at $1,882.59 per ounce by 1138 GMT, its highest level since Sept. 27. U.S. gold futures were up 0.4% at $1,895.40...[LINK]

Gold and silver prices continue to rise as this week's early financial market trends have extended into another session with higher equities, a weaker dollar, and most importantly sharp declines in implied US treasury yields.

We mention strength in the equity markets as we have detected bullish sensitivity in gold and silver to positive economic developments recently as if a portion of the trade is anticipating improved physical and investment demand from improved global economic sentiment.

Not surprisingly, the bull camp should be emboldened by the extensions down in treasury yields and the dollar as that removes significant headwinds and could become a very significant bullish theme if that action continues...[MORE]

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Oct 11 (Reuters) - Gold prices rose to a near two-week high on Wednesday, as U.S. Treasury yields extended their retreat after dovish comments from Federal Reserve officials indicated that interest rates may have peaked.

Spot gold was up 0.6% at $1,871.90 per ounce by 1132 GMT, its highest level since Sept. 29. U.S. gold futures rose 0.6% to $1,886.30...[LINK]

Despite news that Country Garden failed to make an international debt payment overnight the US dollar forged a downside extension and posted the lowest trade since September 29th thereby underpinning gold around yesterday's highs.

Furthermore, uncertainty in the Middle East has fostered further short covering in US treasuries removing another outside market pressure from the gold and silver trade.

Unfortunately for the bull camp, tonight China will release its new loan tally for September, and with expectations calling for a significant jump over August, that news could lift the Chinese currency and in turn moderate Chinese domestic flight to quality buying of gold...[MORE]

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Oct 10 (Reuters) - Gold prices edged down on Tuesday after clocking a sharp rise in the last session as risk sentiment improved and bond yields rebounded, while investors awaited the U.S. inflation data due later this week.

Spot gold climbed to $1,865.19 per ounce, its highest since Sept. 29, earlier in the day and was last down 0.3% at $1,855.10 by 1217 GMT...[LINK]

Not surprisingly, gold and silver are benefiting from the uncertainty created by the attack on Israel by Hamas.

Fear of hostilities throughout the Middle East usually results in a knee-jerk reaction rally in gold, especially with respect to events involving Iran.

However, many gold traders are rightly suspicious of the rally and are likely to step into fresh short positions once it becomes clear other countries/parties are not entering the conflict...[MORE]

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