Blog posts tagged with 'gold'

Gold was down overnight as it tried to hold onto its October gains. As expected, Anthony Blinken left the Holy Land with no solutions or real support. But this political and military lull in the Middle East conflict has created a dull to slightly bearish trading environment for gold.

With the war lacking flight to quality type anxiety, traders will now start to turn their focus back to the Fed Chairman speech on Wednesday.

Despite two-sided volatility in the dollar last week and a range of 220 points, ultimately a downside breakout to the lowest level since September 20th is a major technical signal of a top in the dollar...[MORE]

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Nov 6 (Reuters) - Gold inched lower on Monday as risk appetite picked up, while traders awaited further cues on the U.S. central bank’s monetary policy path with Federal Reserve chair Jerome Powell and a slew of Fed members’ speeches due this week.

Spot gold was down 0.3% at $1,987.29 per ounce at 1152 GMT after rising above the key $2,000 level on Friday. U.S. gold futures fell 0.2% to $1,994.50...[LINK]

The gold market has held steady overnight as the world awaits this morning's US non-farm payrolls data.

On the political front Asian nations are now asking Iran to go get their foreign nationals from Hamas, while Anthony Blinken arrives in Israel to try and negotiate a "humanitarian pause".

This comes after the IDF started to demolish houses belonging to terrorists in Gaza. Israeli defense forces were reported to have cut Gaza into two, wedging their forces from the Mediterranean coast to isolate the Hamas-rich northern part of Gaza...[MORE]

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Nov 3 (Reuters) - Gold was headed for its first weekly loss in nearly a month on Friday as the safe-haven rally cooled, while traders largely kept to the sidelines ahead of the U.S. non-farm payrolls data due later in the day.

Spot gold ticked up 0.1% to $1,987.79 per ounce by 1154 GMT, trading in a tight $6 range. U.S. gold futures also rose 0.1% to $1,995.40...[LINK]

The technical and fundamental bias has shifted up for gold and silver following the latest update on the status of US Fed policy.

Obviously, the idea that the Fed will be on hold in the December 13th meeting, the downside breakout in US treasury yields today, and the definitive reversal/gap downslide in the dollar early this morning gives the edge to the bull camps in gold and silver.

However, the initial gains are somewhat disappointing given the noted favorable shift in market psychology, especially with the potential for the war to provide out-of-nowhere buying...[MORE]

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Nov 2 (Reuters) - Gold prices rose on Thursday, supported by a retreat in the U.S. dollar and Treasury yields as investors wagered that the Federal Reserve may have concluded rate hikes after the central bank held interest rates steady.

Spot gold was up 0.3% at $1,988.40 per ounce at 1120 GMT. U.S. gold futures gained 0.5% to $1,996.70...[LINK]