Can gold price keep its post-Fed gains? In a surprising year-end move, gold rose to three-week highs after the Federal Reserve meeting. Is the tide turning for gold or is it another bull trap? Here's a look at Kitco's top three stories of the week: 3. Gold price hits daily highs as Powell explains 'real-time' policy making, inflation and maximum employment 2. Gold price rallies amid keener risk aversion Friday 1. Tide will turn for gold price in 2022…
Is gold price in a bull trap? 'December is the hardest month to trade' – analysts The gold market has responded very well to a more aggressive Federal Reserve tightening stance, rising around $40 since Wednesday. But what's next will be critical, according to analysts. After the precious metal breached the $1,800 an ounce this week, the next important signal will be what gold does at this strong resistance level. Gold rose post-Fed announcement, which saw its tapering schedule accelerated…
Gold is unable to hold $1800 after trading to a high of $1815 For the better part of the last 24 hours of trading, gold pricing has managed to trade above $1800. Gold futures traded to an intraday high today of $1815.70. However, with only 45 minutes left in Globex trading (New York trading has already closed) gold futures basis, the most active February 2021 Comex contract is trading up by $0.70 (+0.04%) and fixed at $1798.90. Over the last…
Gold, silver sharply up as USDX sinks, oil rallies, bond yields stable Gold and silver prices are posting strong gains in midday U.S. trading Thursday. The metals market traders on this day reckoned rising inflation prospects are bullish, as is shown by market history. A lower U.S. dollar index today, higher crude oil prices and stable U.S. Treasury yields are also friendly for the precious metals bulls. The safe-haven metals rallyied today despite upbeat trader and investor risk appetite late…
How high can gold & silver go in 2022? Rates to rise, here's the impact on markets – Gary Wagner The Federal Open Market Committee has announced a doubling in the pace of asset tapering on Wednesday. The Dot Plots indicate that there will be an average of three rate hikes in 2022, three more in 2023, and two in 2024, all in increments of 25 basis points. Gary Wagner, editor of TheGoldForecast.com discusses with David Lin, anchor for Kitco…
Gold and silver headed south Like the birds that head south for the winter, at the moment, it appears gold, silver and platinum are going to join them. The facts are simple, every rally attempt has failed. The metals are headed lower and selling rallies is the best strategy until it’s not. Understanding markets is essential when you are trading; following the trend is the key to success. The trend for metals is lower; every time they rally to a…
Tide will turn for gold price in 2022 as real yields remain low despite Fed rate hikes Many gold investors will be happy to put 2021 in their rearview mirrors as the precious metal has lagged what has been a red hot commodity market for most of the year. Despite a positive price environment of historically negative real interest rates, the gold market has suffered from lackluster demand as investors focused on the Federal Reserve tightening interest rates, which started…
Gold and silver setting up to go lower Gold and silver can’t seem to gain any footing as they struggle in the current consolidation pattern. The battle between the bulls and the bears at the 1760-1800 level in Gold and 2180-2240 Silver has the appearance that the bears are going to take control once again. The metals look ready for a meltdown. It would be no surprise to see gold trade at $1700, silver at $21 and platinum at $900.…
Gold shines as inflation hits 39-year high It is incredible how fast a year can fly by. Once again, the Kitco News team is getting ready to launch its annual Outlook Series to help gold investors navigate what are expected to be turbulent financial markets in 2022. Kitco News’s Outlook feature will be launched on Monday. We are already compiling stories to give you the best information available. Not to give you any spoiler alerts, but so far, the general…
Gold prices moving higher after U.S. CPI rises 6.8%, biggest jump since 1982 Gold prices are pushing higher, following a stronger-than-expected rise in U.S. consumer prices. Friday, the U.S. Labor Department said its U.S. Consumer Price Index rose 0.8% in November, after a 0.9% rise in October. The data beat consensus forecasts as economists were forecasting a 0.7% rise. For the year, the report said that headline inflation rose 6.8%. The report said this is the "largest 12-month increase since…