Archive

There is a reasonable probability the Fed will conclude its rate hikes this month The CME Fed watch tool is predicting that there is a 99.8% probability that the Federal Reserve will implement a ¼% rate hike on July 26 when the next FOMC meeting concludes. It is also likely that this month's rate hike will conclude the series of hikes by the Federal Reserve that began in March 2022. The latest CPI (Consumer Price Index) and PPI (Producer Price…

Gold rallies as empowered bulls set sights on $2,000 Gold prices are sharply up and hit a 2.5-month high in midday U.S. trading Tuesday. Silver prices are also sharply up and hit a nine-week high. The charts have recently turned more bullish for both precious metals, which is inviting the technically based speculators to the long side of those markets. A weaker-than-expected U.S. retail sales report this morning is also supporting ideas the Federal Reserve can take its foot of…

Gold, silver boosted on notions Fed tightening cycle near an end Gold prices are modestly up and hit a three-week high, while silver prices sharply up and hit two-month high in midday U.S. trading Thursday. Another tame U.S. inflation report today has the marketplace thinking the Federal Reserve is likely nearer the end of its interest-rate-hiking cycle. That's bullish for commodity markets, including the metals. August gold was last up $3.30 at $1,965.00 and September silver was up $0.64 at…

Gold firmer; key U.S. inflation report on deck Gold is higher and silver is slightly lower in midday U.S. trading Tuesday. Gold is supported by bullish daily outside market forces that see the U.S. dollar index a bit weaker, crude oil prices higher and U.S. Treasury yields down a bit. Trading action was more subdued today ahead of a major U.S. inflation report out Wednesday morning. August gold was last up $7.20 at $1,938.10 and September silver was down $0.02…

Gold prices can still push to record highs at $2,100 an ounce by the end of the year – MKS' Shiels Gold prices have room to move lower and retest support below $1,900 an ounce in the early part of the second half of the year; however, that doesn't mean investors should give up on gold, according to one market analyst. In her mid-year outlook, published last week, Nicky Shiels, metals strategist at MKS PAMP, said that she is maintaining…

t's a 'tug of war' for gold price next week as attention turns to inflation report ahead of July Fed rate decision – analysts Despite more than a $20 gain Friday, the gold market is yet to prove that its bearish downtrend is over, according to analysts, who are carefully monitoring next week's June inflation report as a potential trigger. The gold market rebounded Friday on weaker-than-expected employment data from June, with the U.S. economy adding 209,000 new positions versus…

The market was expecting delays' – Fastmarkets' William Adams on China's critical metals turnaround China surprised the critical minerals industry by ramping up nickel production from Indonesia in a short period of time, noted William Adams, head of battery research at Fastmarkets. On June 22, 2023, Adams spoke to Kitco at the 15th Lithium Supply and Battery Raw Materials 2023 in Henderson, Nevada. Nickel prices are off nearly 30% year to date. Adams said nickel prices have been declining partly…