David

What’s next for gold price after making a run for record highs? Fed Ukraine updates on deck

What's next for gold price after making a run for record highs? Fed, Ukraine updates on deck The Federal Reserve's interest rate decision and developments in Ukraine will dominate gold's price direction next week after the precious metal made a run for record highs. Gold rallied on its safe-haven appeal this week as sanctions against Russia were stepped up to import bans and the war in Ukraine escalated, creating chaos in the commodities space. April Comex gold futures were last…

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Gold corrects after unsuccessfully challenging its record high

Gold corrects after unsuccessfully challenging its record high On Tuesday, March 8, gold traded to an intraday high of $2078, roughly $10 below the all-time high of $2088, which was achieved in August 2020. The current decline in gold is the first real price decline since January when gold hit a low of approximately $1780. Until Tuesday of this week, what followed in February was a dynamic rally resulting in gold gaining approximately $300 when gold traded to $2078. On…

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Gold silver up on safe-haven buying as US equities sell off

Gold, silver up on safe-haven buying as U.S. equities sell off Gold and silver prices are are higher in midday U.S. trading Thursday, on more safe-haven demand amid risk aversion that is still keen in the marketplace. Global stock markets and the U.S. stock indexes are still on shaky ground amid the biggest geopolitical crisis in decades that appears to be worsening. Some hot U.S. inflation data today was also bullish for the metals markets. April gold futures were last…

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Is the long-term upside move in gold over?

Is the long-term upside move in gold over? Today was an absolute game-changer. Given that the recent ascent in gold to just under the record high of $2088 was absolutely news and headline-driven, changes in those headlines will have a dramatic and profound impact on the direction and price gains or losses in gold. The President of Ukraine, Volodymyr Zelensky, said he is open to a compromise with Russia. That single statement had a profound impact on multiple asset classes.…

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Gold challenges record high but declines after hitting a high of 207880

Gold challenges record high but declines after hitting a high of $2078.80 Today gold spiked with a massive gain of $82, taking gold futures within $10 of the record high at $2088, which occurred in August 2020. Just as quickly as gold rose dramatically higher profit-taking and a recovery of U.S. equities resulted in gold trading off of the highs giving up over half of the gains from the intraday high. New York's trading session just ended, and as of…

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Gold flirts with 2000 as US equities continue to encounter a dramatic selloff

Gold flirts with $2000 as U.S. equities continue to encounter a dramatic selloff Gold continues to gain value based upon rising inflation levels and the current crisis in Ukraine. The combination of geopolitical tensions and high levels of inflation are highly supportive of higher gold and silver pricing in the future. Also, major selling pressure resulting in lower prices in U.S. equities has market participants moving risk-on investment dollars into safe-haven assets. As of 3:35 PM EST, with approximately 25…

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Gold drives to 2000 an ounce oil breaks 130 a barrel

Gold drives to $2,000 an ounce, oil breaks $130 a barrel The Ukraine-Russia conflict continues to roil markets, with oil prices pushing to its highest level since 2008 and gold prices hitting $2,000 an ounce. Oil prices have rocketed higher following the Asian open. While off their highs, April crude oil futures last traded at $122.79 a barrel, up 7% on the day. According to media reports, the Biden administration is in talks with European leaders to consider cutting off…

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‘Tremendous momentum’ in gold price -Watch out for next week’s US inflation number as geopolitics continue to drive metals

'Tremendous momentum' in gold price -Watch out for next week's U.S. inflation number as geopolitics continue to drive metals (Kitco News) There is strong momentum in the gold space as investors repositioned themselves going into another uncertain weekend with all eyes on Russia's intensified attack on Ukraine. Gold gained more than $35 on Friday as Russian forces took control over Europe's biggest nuclear power plant in Ukraine in a very alarming assault. "Unfortunately, there are no signs that you are going…

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Inflation and the crisis in Ukraine cause gold to surge now only 27 away from 2000

Inflation and the crisis in Ukraine cause gold to surge, now only $27 away from $2,000 Gold prices have been moving to a higher value at a pace not witnessed in quite some time. On Monday, gold futures basis most active April 2022 contract opened at $1920 and closed at $1900 after recovering from a low of $1893. On Tuesday gold prices gained over $40 and accelerated the defined uptrend that began the first week of January. The rally has…

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Safe-haven demand continues to push gold price higher

Safe-haven demand continues to push gold price higher Gold prices are moderately higher in midday U.S. trading Thursday, on continued safe-haven demand as risk appetite remains squelched by the Russia-Ukraine geopolitical situation. April gold futures were last up $11.20 at $1,933.70 and May Comex silver was last down $0.035 at $25.155 an ounce. Risk aversion remains elevated amid the Russia-Ukraine war that has intensified. Crude oil and grain prices are soaring and that’s also stoking inflation fears. In a stunning…

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