Market Hive

Gold price headed to $5,500 in the long term as central banks won't be able to exit unorthodox monetary policies The Federal Reserve's potential plan to reduce its monthly bond purchase by the end of the year continues to weigh on the gold market as prices remain tethered to support around $1,750 an ounce. However, one investment firm continues to see gold prices pushing thousands of dollars higher in the long-term. In a report published Tuesday, investment bank Jefferies Group…

Have you given up on gold? Surprising comeback after volatile week It has been a very volatile week for gold. After dropping $30, the precious metal surged back to its very familiar territory of $1,750-$1,760 an ounce. Soaring U.S. Treasury yields and a higher U.S. dollar were the main obstacles for gold. And despite avoiding a government shutdown in the U.S. this week, there is still the threat of default as the heated debt ceiling debate continues. Here's a look…

Gold is a green hedge – it can improve a portfolio's carbon profile – World Gold Council Gold can play many different roles in an investment portfolio; it is an important diversification tool and hedge against inflation. According to the latest research from the World Gold Council (WGC), gold can improve a portfolio's carbon footprint, too. In an interview with Kitco News, John Mulligan, climate change lead and market relations at the WGC, said that the latest report on gold's environmental…

Dollar strength today is equal to gold weakness in terms of percentage gain and decline A surging U.S. dollar continues to pressure gold resulting in a further price decline. Yesterday the dollar index closed at the highest level this year, and today the dollar rally continued and resulted in a new record high for the year. As of 4:30 PM EDT, the U.S. dollar index is up by+0.68% and gold futures are down by -0.68%. This means that the percentage…

Gold price sees double-digit drop as Yellen says failure to raise debt ceiling will trigger financial crisis, undermine U.S. dollar If the debt ceiling is not raised in time, the U.S. will default, which would trigger a financial crisis and undermine the U.S. dollar, U.S. Treasury Secretary Janet Yellen told the U.S. Senate on Tuesday. "If the debt ceiling is not raised, there would be a financial crisis, a calamity. It would undermine confidence in the dollar as a reserve…

Gold has multiple factors and events to glean insight into the future direction The gold market will continue to keep its focus on the Federal Reserve. The recent FOMC meeting statement and updated monetary policy in regards to interest rates have contained any large moves in gold. The net result of a more hawkish Fed has resulted in a major uptick in the yields of 10-year Treasury notes, which is also supportive of the U.S. dollar. This week the Federal…

Gold and silver trade higher heading into the European open Gold and silver are both heading into the European session in positive territory. Gold is up 0.42% while silver has risen 0.89% respectively. In the rest of the commodities complex, copper is trading just above flat while spot WTI pushed 1.30% in the black. In terms of risk sentiment, the Nikkei 225 (-0.03%), ASX (0.57%), and the Shanghai Composite (-0.94%) were mixed overnight. Futures in Europe are pointing towards a…