Gold steady after snapping 4-week losing streak
Gold futures were little changed Monday, holding steady after snapping a run of four straight weekly declines, as investors awaited testimony this week by Federal Reserve Chair Jerome Powell.Price action Gold for April delivery GC00, +0.16% GCJ23, +0.16% rose $2.60, or 0.1%, to $1,857.20 an ounce. May silver SIK23, -0.01% was up 3.2 cents, or […]
Gold futures mark first gain in 6 sessions
Gold futures finished higher on Monday, with prices bouncing back after posting declines for five consecutive sessions. “We have seen quite a shift in market direction in favour of the dollar and yields, with most foreign currencies, gold, and US equities falling out of favour,” said Fawad Razaqzada, a market analyst at City Index and […]
Gold Futures: Rebound looks limited
Share: Open interest in gold futures markets dropped for the fourth session in a row on Tuesday, this time by just 785 contracts according to preliminary readings from CME Group. Volume, instead, resumed the uptrend and went up by around 16.2K contracts. Gold remains supported around $1860 Gold prices edged higher and extended […]
Gold futures end higher, with the U.S. dollar lower in the wake of Powell’s remarks
Gold futures climbed on Tuesday, posting a second straight session gain, with prices finding support from some weakness in the U.S. dollar as Federal Reserve Chairman Jerome Powell spoke at the Economic Club of Washington. Powell said that the U.S. jobs report released Friday shows that the Fed needs to keep raising interest rates, but […]
Gold prices finish higher after falling to a 3-week low
Gold prices finished a bit higher on Monday after tumbling to their lowest level in three weeks following Friday’s surprisingly strong jobs report, which helped send Treasury yields and the dollar higher to the detriment of the yellow metal. Price action Gold for April delivery GC00, +0.19% GCJ23, +0.19% rose $2.90, or nearly 0.2%, to […]
XAU/USD plummets below $1890 after stunning US NFP report
Gold plunges after a solid January US NFP report. The US economy added more than 500K jobs, and the unemployment rate fell to 3.4%. Gold Technical Analysis: To the upside eyeing $1890, and downwards $1850. Gold price tumbles sharply after the US Department of Labor revealed a staggering Nonfarm Payrolls report that added more jobs […]
XAG/USD tumbles to eight-week lows, worst week since October
US Dollar soars across the board after NFP. US ISM Service brings in more favourable data. Silver drops by more than 3% on Friday; down 8% from Thursday’s peak. Metals extended the sell-off after the US official employment report. Silver hits fresh monthly lows near $22.50 and is having the worst day in months. Strong […]
XAG/USD dwindles after hitting a 9-month high, back below $23.50
After hitting a new nine-month high of $24.62, Silver price nosedives, failing to break the $23.00-$24.50 range for the fourth consecutive day in the week, and exchanges hands at around $23.40s at the time of writing. Wall Street continues to record gains bolstered by a big tech company projecting a positive outlook for 2023. The […]
XAG/USD slumps below $23.50 ahead of the FOMC’s decision
Silver fails to hold to its earlier gains above the 20-day EMA, with traders eyeing $23.00. Silver Price Analysis: Consolidated, slightly skewed downwards, as oscillators turned bearish. Silver price struggles at the 20-day Exponential Moving Average (EMA) at $23.66 and is dropping toward the lows of the day, at around $23.40s, as investors prepare for […]
Precious Metals Monday 30-01-2023
Metals Rally Pauses For Now The metals complex is seeing a weaker opening on Monday with both gold and silver trading in the red as European markets open. Gold has enjoyed a strong start to the year ahead of the recent soft patch with gold futures rallying around 7% off the YTD lows, trading up […]