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'Bears are in control' of gold price: will next week's Fed announcement be a shocker? After falling $40 this week, gold bears are in control of the market with all eyes on what could be a hawkish Federal Reserve meeting next week, according to analysts. Gold dropped to four-week lows on Thursday, falling from above $1,790 an ounce to $1,750 an ounce after much stronger U.S. retail numbers. This is big news ahead of the Fed's interest rate announcement on…

Gold fails to hold the key psychological level of $1,800 After yesterday's moderate upside move taking gold above $1,800, technical selling pressure resulted in gold breaking back below $1,800. Yesterday the Bureau of Labor Statistics released its inflationary report for August, indicating that the CPI (Consumer Price Index) increased by 0.3% last month. August’s rise in inflationary pressures came in under estimates by economists polled by the Wall Street Journal, who were expecting an increase of 0.4%. The Bureau of…

The gold price is not going anywhere anytime soon Stuck in a narrowing trend, gold prices are not expected to go anywhere soon as sentiment has turned decidedly neutral among Wall Street analysts with lackluster interest from retail investors, according to the latest results of the Kitco News Gold Survey. Since mid-July, gold prices have tested resistance at $1,830 but have failed to hold the ground. The latest failed push higher and the drop below $1,800 ahead of the weekend…

Gold and silver are marginally higher heading into the Europen open Gold and silver are heading into the European open marginally higher this morning. On Tuesday the yellow metal suffered heavily and dropped back through $1800/oz while silver also fell 1.50%. Looking at the rest of the commodities complex, copper is 0.21% higher and spot WTI is trading 0.70% in the black. Risk sentiment overnight has been very mixed the Nikkei 225 closed 0.91% higher but the ASX (-0.36%) and…