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Gold rallies as bulls brush off hot U.S. inflation report Gold prices are moderately up and silver slightly higher in midday U.S. trading Thursday, in the aftermath of a U.S. inflation report that came in hot. Gold and silver traders may reckon that recent sell offs have already factored into the metals’ prices the fact the Federal Reserve will have to remain hawkish for longer on U.S. monetary policy. April gold was up $6.50 at $1,851.70 and March silver was…

Hawkish Fed forward guidance pressure gold lower Gold continues to trade under pressure moving to lower prices after yesterday’s CPI report for January indicated that inflation declined to 6.4% year-over-year. January’s CPI report came in lower by 6.4% year-over-year, than the prior month of December. However, analysts were expecting a larger decline with expectations that yesterday’s report would come in between 6.2% and 6.3%. When combined with last week’s unexpected jobs report the collective information will allow the Federal Reserve…

BLS releases headline CPI inflation report today for January 2023 Traders and investors have been patiently waiting for today’s inflation report to glean information on whether or not the Fed will maintain its current monetary policy or adjust it to a somewhat looser policy. The report came in very close to estimates and did indicate that inflation is continuing to diminish. However, the increase in headline inflation at 0.5% was the biggest month-to-month increase since June 2022. The report indicated…

Gold, silver down on position evening ahead of U.S. CPI Gold and silver prices are lower in midday U.S. trading Monday, with silver hitting a 2.5-month low and gold a five-week bottom. The near-term chart postures for both metals have deteriorated recently, which are prompting some technical selling pressure. Also, weak long liquidation in the gold and silver futures markets is likely featured today, ahead of a key U.S. inflation report Tuesday. April gold was last down $10.40 at $1,864.00…

This is the next big catalyst for gold price Gold is looking at its third consecutive week of losses after January's rally, which saw its best start to the year in over a decade. And now all eyes shift to next week's U.S. inflation report, with analysts saying it could be the next big catalyst for the precious metal. After surging to $1,975 an ounce last week, April Comex gold futures are now trading at $1,870.70 an ounce, down 5.3%…

Investors wait for CPI numbers but the bearish sentiment remains on Fed’s narrative Gold investors had a wake-up call last Thursday when gold futures hit $1974, the highest value of 2023. But that same day also marked the beginning of a correction. Gold would lose approximately $90 per ounce over last Thursday and Friday. This week started with a whimper with gold trading to a higher high and higher low on Monday, Tuesday, and Wednesday. However, each day had fractional…

Uncertainty wanes as investors accept the resolve of the Fed For the most part, the uncertainty that defined market sentiment has pivoted to a sense of clarity about the future forward guidance of the Federal Reserve. It has become clear that the Federal Reserve will make good on its commitment to continue rate hikes and sustain those higher levels throughout this entire year. Any doubt in that the Fed would back off from its current strategy has diminished. Simply put,…