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Are we seeing the first indications of a correction in gold?

Are we seeing the first indications of a correction in gold? This has been a most interesting year for investors and traders who have been active in gold. There have been two completed trends that contained both a multi-month rally and a multi-month correction. During the first week of January gold was already in rally mode, and opened at $1827 on the first day of trading, January 3. By March 8, gold had traded to its highest value this year…

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Gold’s recent short-term trend is in a defined cycle – Rally Consolidate Repeat

Gold’s recent short-term trend is in a defined cycle – Rally, Consolidate, Repeat Gold has shifted gears from extended rallies followed by a multi-month correction to its current almost parabolic upside move. This move began during the first week of November and continues to this day. In fact, we are getting the first indications that the extended correction at least for now has concluded and a new stage has begun. The best way to describe the characteristics of this recent…

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Gold advances on geopolitical trepidation as Russian missiles hit Poland

Gold advances on geopolitical trepidation as Russian missiles hit Poland Russia’s invasion of Ukraine has been escalating to accelerated levels of military action. According to sources in Ukraine and reported by Reuters news, “Russia rained missiles on cities across Ukraine on Tuesday in what Ukraine said was the heaviest wave of missile strikes in nearly nine months of war, echoing a pattern in recent weeks of Moscow lashing out far from the front after battlefield losses.” Today the Russian military…

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Gold recovers from lows even with Fed Governor Waller’s hawkish warning

Gold recovers from lows even with Fed Governor Waller's hawkish warning Federal Reserve Governor Christopher Waller told a conference in Sydney, Australia today, "We're not softening…Quit paying attention to the pace and start paying attention to where the endpoint is going to be. Until we get inflation down, that endpoint is still a way out there." Gold traded to a low of $1762 at approximately 8:13 PM EST. This morning’s decline was the result of both dollar strength and a…

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Gold sharply up as USDX US bond yields plummet after cooler CPI

Gold sharply up as USDX, U.S. bond yields plummet after cooler CPI Gold and silver prices are solidly higher in midday U.S. trading Thursday, with gold scoring a 2.5-month high and silver a 4.5-month high, following a U.S. inflation report that came in just a bit cooler than market expectations and in turn pushed the U.S. dollar index and U.S. Treasury yields sharply lower. December gold was last up $38.60 at $1,737.90 and December silver was up $0.323 at $21.66.…

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Gold price surges 50 should investors be selling into the rally?

Gold price surges $50, should investors be selling into the rally? Gold prices surged nearly $50 on Friday as the latest U.S. jobs report clarified some of the Federal Reserve's mixed messages, and China signaled a possible easing of its Covid-Zero policy. But caution is still advised as all previous quick rallies have been used as selling opportunities. Gold has had a spectacular start to November after reporting the longest streak of monthly losses in more than five decades. The…

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Gold price sharply up after Goldilocks US jobs report

Gold price sharply up after "Goldilocks" U.S. jobs report Gold and silver prices are sharply higher in early U.S. trading Friday, boosted by a U.S. jobs report that landed in the sweet spot of marketplace expectations for the report. Silver prices notched a three-week high. Strong gains in crude oil prices and a weaker U.S. dollar index are also bullish outside market forces for the metals on this day. Short covering by futures traders is featured in both precious metals…

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Gold silver down amid strong greenback rising bond yields

Gold, silver down amid strong greenback, rising bond yields Gold and silver prices are lower in midday U.S. trading Thursday, with gold hitting a six-week low in overnight dealings. Silver prices have rebounded well off daily lows. Very sharp gains in the U.S. dollar index and rising U.S. Treasury yields, along with lower crude oil prices, pressured the precious metals markets today. December gold was last down $22.20 at $1,627.80 and December silver was down $0.239 at $19.36. A still-hawkish…

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Gold prices move near session highs as Federal Reserve raises interest rates 75 basis points

Gold prices move near session highs as Federal Reserve raises interest rates 75 basis points The gold market is seeing some new buying momentum as the Federal Reserve looks to slightly adjust its aggressive monetary policy stance. In a widely anticipated move, the Federal Reserve raised its Fed Funds rate by 75 basis points. This is the fourth consecutive supersized rate hike this year. While the central bank remains focused on bringing inflation down, it does appear to be adjusting…

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Gold silver gain on ideas of better future demand from China

Gold, silver gain on ideas of better future demand from China Gold and silver prices are higher in midday U.S. trading Tuesday, but down from daily highs as the U.S. dollar index has rebounded from solid early losses. Falling U.S. Treasury yields on this day are supporting the precious metals markets. Some potentially positive news coming out of China is also working in favor of the metals market bulls. December gold was last up $8.00 at $1,648.50 and December silver…

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