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Gold price (XAU/USD) drifts lower during the Asian session on Thursday, albeit it remains confined in a familiar range held over the past week or so amid mixed fundamental cues. The overnight hawkish remarks by FOMC members, including Federal Reserve (Fed) Chair Jerome Powell, reaffirmed...
Gold is headed for its third straight week of gains as an improving U.S. inflation picture boosts expectations for a Fed rate cut in September, and the yellow metal could set new record highs before year-end, according to analyst James Hyerczyk at FX Empire. “Gold prices have retreated from a...
Last week, precious metals markets saved all their drama for the grand finale. Spot gold opened the week trading at $2,325.26, and spent much of the first four days trading in a relatively narrow $25 range. The expected 25 basis point rate cuts from the ECB and the Bank of Canada came and went,...
Last week was thin on economic data, so gold prices began the week coasting along at their newly elevated levels coming out of last week's fresh all-time highs. After opening last week on Sunday evening trading at $2,421.20 per ounce, spot gold stayed comfortably above the 2400 level until...
The gold market had plenty of significant economic data and in-depth Fed speak to digest last week, and the result was one of the most dramatic moves for precious metals markets this year. Spot gold kicked off the week trading at $2,361.17 and spent Sunday and Monday treading water while eagerly...
After two weeks of consolidation, gold is attracting some new bullish attention after holding initial support at around $2,300 an ounce, according to some analysts. Bouncing off its lows at the start last week, gold is looking to end Friday (10/5) near a two-week high. June gold futures last...
The gold market had plenty to digest last week, with manufacturing and services sector data, nonfarm payrolls, and the FOMC rate decision, and while precious metals prices did see a boost from the Fed that effectively ruled out a hike and left room for a cut in Q2, the overall trajectory was down...
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 off their weekend insurance after the Middle East conflict didn’t escalate beyond Israel’s retaliatory...
Gold prices followed a now-familiar pattern last week, trading in an elevated range until geopolitics shocked the market to highs, followed by retracement to a higher floor. Spot gold opened last week trading at $2,367 per ounce, and other than a short-lived sharp drop to the weekly low of $2,332...
Gold prices chugged along for much last week, trading between $2,300 and $2,360 through Wednesday, shaking off hotter-than-expected CPI and lulling market participants into a false sense of stability. Then, late Thursday, the rollercoaster began to ratchet back up, with spot gold hitting a new...
Gold’s rally to successive all-time highs isn’t over, according to macro fund managers interviewed by Bloomberg, with the factors that have powered a near-20% surge since mid-February expected to fuel more gains. The gains have been fueled by expectations for the US Federal Reserve to...
The gold market continues its unstoppable run to record highs as it touches an all-time high of $2,350 an ounce last weekend. Gold’s latest rally comes after the U.S. economy created 303,000 jobs in March, significantly beating expectations. At the same time, unemployment dropped to 3.8%. ...
After last Friday’s all-time high for a weekly close, gold picked right up where it left off last week, setting multiple all-time highs in both the spot and futures markets despite Fed Chair Powell’s milquetoast Capitol Hill testimony and parallel all-time highs in equity markets and...
The gold market was moribund for the first half of last week, but contradictory U.S. CPI and PPI data pushed gold prices sharply down on Wednesday and back up on Thursday, while a sudden escalation of conflict in the Middle East on Thursday evening saw gold prices posting steady gains heading into...
Gold inched steadily higher last week, with prices seeing bumps following economic data releases, but after the strong and sudden moves of the past month or so, the precious metals’ price action was more orderly and less dramatic. The latest Kitco News Weekly Gold Survey sees retail investors...
Gold traded in an elevated and narrow range last week, frequently testing the $2,000 psychological price barrier without ever managing to break decisively above it. The precious metal continues to be trapped between evenly balanced opposing forces, as declining bond yields and optimism that the...
Gold held onto its recent gains last week, supported by the ongoing conflict in the Middle East, while high bond yields continue to deliver headwinds for the precious metal. The yellow metal also went on another run heading into the weekend, with spot gold once again trading above $2,000 per ounce...
As Israel's war with Hamas intensifies, geopolitical uncertainty continues to support gold's safe-haven allure as the precious metal defies rising bond yields. Similar to previous week, gold is seeing solid buying last Friday as investors want to hold some gold as insurance over the weekend....
