David

After touching 2k why did gold price tumble 70?

After touching $2k, why did gold price tumble $70? After touching the $2,000 level at the beginning of the week, gold tumbled more than $70 as the U.S. dollar climbed alongside the U.S. Treasury yields. Here's a look at Kitco's top three stories of the week: 3. Gold price continues to consolidate as Fed's Powell reiterates hawkish stance 2. Is gold the next big play? Gold price heading to $2,100 – Wells Fargo 1. 'Turning point' for the U.S. dollar…

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Here’s what latest gold price pattern tells investors about the metal’s next move

Here's what latest gold price pattern tells investors about the metal's next move After touching $2,000 an ounce at the beginning of the week, gold tumbled more than $70 as the U.S. dollar climbed alongside the U.S. Treasury yields. With the latest trading pattern, analysts see some undeniably bullish signals. "Gold has been reaching new highs and consolidating. Right now, it is liquidating because of the higher dollar. But how can you be short gold in this market? Any dips…

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Gold continues to decline as the Fed prepares to fight inflation

  Gold continues to decline as the Fed prepares to fight inflation The Federal Reserve’s next FOMC meeting is just under two weeks away, and market participants are gaining insight from Chairman Powell and other Federal Reserve voting members. Recent statements by Chairman Powell have indicated a major shift in his position regarding inflation. Up until his most recent statements, he maintained that inflation levels had peaked, were transitory, and would begin to decline. However, he has been forced to…

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Gold silver pressured by rising bond yields technical selling

Gold, silver pressured by rising bond yields, technical selling Gold and silver prices are lower in midday U.S. trading Thursday, pressured in part by rising U.S. Treasury yields and on selling from the shorter-term futures traders. The near-term chart postures for the two metals have deteriorated this week, to embolden the chart-based bears. June gold futures were last down $13.10 at $1,942.50 and May Comex silver was last down $0.721 at $24.535 an ounce. The U.S. stock indexes are mixed…

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Gold silver bulls fading and need a fresh spark

Gold, silver bulls fading and need a fresh spark Gold and silver prices are modestly weaker in midday U.S. trading Wednesday, on some more downside corrective action after recent gains. Bulls are fading and need a fresh fundamental element to boost them and to keep alive the near-term price uptrends in the two precious metals markets. June gold futures were last down $4.20 at $1,955.00 and May Comex silver was last down $0.146 at $25.245 an ounce. Global stocks markets…

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Gold silver succumb to big drop in crude oil rise in bond yields

Gold, silver succumb to big drop in crude oil, rise in bond yields Gold and silver prices are a sharply lower in midday U.S. trading Tuesday, on a big downside price corrections after both metals hit five-week highs on Monday. Solid losses in the crude oil market and rising U.S. Treasury yields on this day also worked against the precious metals market bulls. June gold futures were last down $26.90 at $1,959.60 and May Comex silver was last down $0.775…

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Gold breaks the key level of 2000 in its first unsuccessful attempt

Gold breaks the key level of $2,000 in its first unsuccessful attempt The combination of exceedingly high inflation and the geopolitical crisis in Ukraine were strong enough forces to run gold prices back above $2000. The focus of my articles throughout last week dealt with how the Federal Reserve and global central banks were faced with a near impossible task to reduce rising inflation. Dramatic measures would need to be taken including raising rates to at least half of the…

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Volatility to dominate gold market as ‘central banks running out of options’ bullish sentiment intact – Kitco’s gold price survey

Volatility to dominate gold market as 'central banks running out of options,' bullish sentiment intact – Kitco's gold price survey Despite a $20 retreat prior to the long weekend, the bullish sentiment continues to dominate the gold market with volatility keeping investors watching the $2,000 an ounce level again, according to Kitco's gold price survey. During the short trading week, gold was able to breach a key resistance level of $1,975 an ounce, with June Comex gold futures touching a…

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The goldsilver ratio moves back into familiar territory

The gold/silver ratio moves back into familiar territory The gold/silver ratio has moved back into familiar territory. The price has moved back into a wedge-type formation on the daily chart below. The trendlines have acted as clear support and resistance levels with both being tested and respected around three times each. More recently the price has moved to the lower bound of the pattern and bounced back up. In terms of support levels, the yellow line at 75.90 is the…

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US dollar is gold’s main obstacle in breaching 2k analysts

U.S. dollar is gold's main obstacle in breaching $2k – analysts Gold tested a critical level this week on its way to $2,000, but one of its main obstacles remains a strong U.S. dollar, according to analysts. Despite a selloff during the week's last trading day, gold is still up 1.5%, with June Comex gold futures last trading at $1,974.6 after rising above $1,985 an ounce a day earlier. After seeing renewed safe-haven appeal amid significant geopolitical tensions, the U.S.…

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