David

Analysts more bullish on gold following lower job growth, higher wage inflation The gold market rallied following a weaker-than-expected U.S. jobs report for July, which included downward revisions for May and June and strong wage growth, sending spot gold prices from $1931 to an intraday high of $1946.79 The latest Kitco News Weekly Gold Survey showed that the loss of momentum for the U.S. labor market, even as inflation pressures remain in place, had most market analysts bullish or neutral…

CPI could be a make-or-break moment for gold next week as prices look for direction The gold market is back in no-man's land as the price is pushed and pulled between rising bond yields and continued economic uncertainty. According to some analysts, next week's inflation data could be a "make or break" moment for the precious metal as it struggles to find direction. Gold's neutral outlook comes as prices look to end the week holding critical near-term support levels but…

Gold prices remain stuck in neutral as U.S. economy created 187K jobs in July, wages increase The gold market is trying to hold critical resistance levels as the U.S. labor market loses momentum in July, even as inflation pressures remain in place. U.S. nonfarm payrolls rose by 187,000 last month, according to the Bureau of Labor Statistics. The monthly figure was below the market consensus estimates of 205,000. However, the report also noted that the U.S. unemployment rate saw a…

Gold, silver weaker amid surging U.S. Treasury yields Gold and silver prices are moderately down in midday U.S. trading Thursday. The precious metals are feeling the pressure of rising U.S. Treasury yields and an up-trending U.S. dollar index. December gold was last down $6.30 at $1,968.70 and September silver was down $0.237 at $23.635. The surprise downgrade of the U.S. government’s credit rating by Fitch has cast a pall over what was a generally upbeat summertime marketplace. The Fitch downgrade…

Gold's, and gold miners' fake rally was erased – just as expected   What a difference 24h can make, huh? Gold rallied visibly on Monday, only to give it back on Tuesday. Same with miners. What's next? Gold and Miners' Volatile Ride Exactly the same thing that was likely before yesterday's session. One of the things that indicated that decline was silver's outperformance – this indication rarely fails to deliver. It's surprising for those, who are new to the silver…

Gold declines by over $27 as hope diminishes of a rate cut this year Gold spot and futures both declined by over 1% today as traders reacted to dollar strength and stronger yields on U.S. Treasuries. But that explanation lacks the complete backdrop to the multiple reasons why gold is trading under pressure today. Market participants are reacting with extreme caution before the release of Friday's nonfarm payroll jobs report. Current forecasts are predicting that the report will reveal that…

Gold, silver gain on chart-based buying Gold and silver prices are higher in midday U.S. trading Monday. Amid a lack of fresh fundamental news to drive market prices, the precious metals traders are focusing on the improved near-term chart postures in gold and silver and doing some technically based buying. December gold was last up $10.00 at $2,009.80 and September silver was up $0.46 at $24.96. Gold and silver bulls this week may also be focusing on recent upbeat U.S.…

Gold investors will be watching U.S. data like a hawk this week, anticipating a weakening trend Gold market will be hungry for information that will help provide some clarity to the Federal Reserve's open-ended monetary policy stance with disappointing economic data supporting higher prices. While analysts are not expecting a major breakout in gold in the near term, some have said that the bias is to the upside as the Federal Reserve's monetary policy stance is expected to weaken the…

Gold prices push back above $1,950 as U.S. PCE inflation continues to cool rising 0.2% in June Gold prices have pushed back above the critical psychologically important $1,950 level as U.S. inflation drops in line with expectations. Friday, the U.S. Department of Commerce said its core Personal Consumption Expenditures price index increased 0.2% last month, compared to May's increase of 0.3%. The inflation rose in line with economists' expectations. Inflation in the last 12 months rose 4.1%, down sharply from…

Gold, silver slump after strong U.S. data rallies greenback Gold prices are solidly lower and hit a two-week low in midday U.S. trading Thursday. Silver is down sharply, too. Modest overnight gains in both metals were erased after the release of upbeat U.S. economic data this morning that beat market expectations. August gold was last down $27.10 at $1,943.00 and September silver was down $0.645 at $24.325. U.S. economic data Thursday morning fell squarely into the camp of the monetary…