Gold silver traders tread water ahead of US debt talks CPI

Gold, silver traders tread water ahead of U.S. debt talks, CPI Comex gold and silver futures prices are not straying too far from unchanged levels at midday Tuesday. Precious metals traders are very tentative ahead of important government and economic developments in the U.S. that will soon come into play for the marketplace. June gold was last up $0.80 at $2,034.00 and July silver was down $0.059 at $25.775. President Biden later today meets with House Speaker Kevin McCarthy and…

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Gold price settles above 2020 as Yellen warns of ‘constitutional crisis’ if debt cap not raised

  With the chance of a U.S. default in a matter of weeks, U.S. Treasury Secretary Janet Yellen warned that if the debt ceiling is not lifted, it could trigger a "constitutional crisis." "It's Congress's job to do this. If they fail to do it, we will have an economic and financial catastrophe that will be of our own making," Yellen told ABC on Sunday. "And we should not get to the point where we need to consider whether the…

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News Bites The US and China are on ‘brink of war’ as gold touches record highs and banking sector troubles intensify

News Bites The U.S. and China are on 'brink of war' as gold touches record highs and banking sector troubles intensify Gold's price action was defined by major volatility this week. Gold Comex futures tested record highs as the banking sector troubles intensified. Markets also dissected Federal Reserve Chair Jerome Powell's messaging, while Friday's stronger-than-expected U.S. employment report weighed on gold. Here's a look at Kitco's top three stories of the week: 3. Comex gold prices test record highs and…

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Gold price to keep trading at historically high levels as markets monitor debt ceiling debate and credit conditions – analysts

Gold price to keep trading at historically high levels as markets monitor debt ceiling debate and credit conditions – analysts Concerns about credit conditions and the debt ceiling debate will keep gold prices at historically elevated levels for the next few months, according to analysts. The gold market retreated Friday as the banking fears subsided and the U.S. April employment report came in better than expected. The U.S. unemployment rate fell back to a 53-year low of 3.4%, while the…

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Gold flirts with a record high after three days of consecutive gains

Gold flirts with a record high after three days of consecutive gains Gold futures have traded almost $100 higher from Tuesday's open to today's intraday high. Gold opened at approximately $1990 on Tuesday and closed at approximately $2022 after factoring in a daily gain of over $30. Yesterday gold had a moderate gain moving the most active June contract to an intraday high of $2049 and closing at approximately $2037. However, today's range was the largest of the last 3…

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Gold gains traction as Fed hints at a pause after raising rates

Gold gains traction as Fed hints at a pause after raising rates ¼% The Federal Reserve concluded this month's FOMC meeting and as expected the Fed raised its terminal rate by ¼%. This takes the Fed benchmark rate to between 5% and 5 ¼%. Most importantly, after 10 consecutive rate hikes the Fed signaled that they may finally enact a pause of further rate increases at the next FOMC meeting in June. This would allow the Federal Reserve to assess…

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Gold surges as concerns of banking crisis and the debt-ceiling crisis re-emerge

Gold surges as concerns of banking crisis and the debt-ceiling crisis re-emerge With the FOMC meeting to conclude tomorrow the Federal Reserve will most likely announce a ¼% rate hike and attention has shifted away from the Fed as market participants focus on other potential calamities within the financial markets. Genuine angst regarding the debt ceiling and concern about the re-emergence of the banking crisis has weighed heavily on the minds of market participants. These concerns are so significant that…

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Gold silver back off after better-than-expected US manufacturing reports

Gold, silver back off after better-than-expected U.S. manufacturing reports Gold prices are moderately lower and silver has lost all the big early price gains in midday U.S. trading Monday. Some upbeat U.S. economic data and positive remarks from the head of the largest U.S. bank worked to pressure the two precious metals markets. June gold was last down $8.10 at $1,990.90 and July silver was down $0.006 at $25.25. (By the way, I encourage you to check out my new…

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Mastercard launches Crypto Credential for a more secure verified blockchain experience

Mastercard launches Crypto Credential for a more secure, verified blockchain experience   Mastercard has announced the launch of Crypto Credential in an effort to establish a set of common standards and infrastructure that will help attest trusted interactions among consumers and businesses using blockchain networks. According to the announcement posted on Friday, Crypto Credential is being created to provide a way for trusted, compliant and verifiable interactions to take place on public blockchain networks in order to bring more legitimacy…

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Gold market is in ‘buy the dip’ mentality until Fed’s messaging analysts watching Powell’s banking sector comments – analysts

Gold market is in 'buy the dip' mentality until Fed's messaging, analysts watching Powell's banking sector comments – analysts Gold is stuck in a tight range, with the "buy the dip" mentality dominating the market. Investors are keenly watching the Federal Reserve's widely expected 25-basis-point rate hike next week. But if markets interpret the messaging as a "hawkish pause," gold's rally could re-start, according to analysts. The gold market is looking to wrap up April with a slight gain of…

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