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Gold posts solid gains for the week as market participants focus on the economy

Gold posts solid gains for the week as market participants focus on the economy Gold prices closed higher on the day and the week resulting in solid gains. As of 5:50 PM, ET gold futures basis most active June contract is currently up $3.90 or 0.21% fixed at $1845.10. Considering that gold futures traded to a low this week of $1785 and closed near the highest value this week of $1848.60 gold had a good week. Gold pricing had been…

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Gold silver see solid gains as USDX slumps

Gold, silver see solid gains as USDX slumps Gold and silver prices are posting good gains in midday U.S. trading Thursday. The precious metals are boosted by a sharply lower U.S. dollar index and a slight decline in U.S. Treasury yields on this day. A wobbly U.S. stock market is also working in favor of the metals market bulls. June gold futures were last up $25.40 at $1,841.30. July Comex silver futures were last up $0.321 at $21.86 an ounce.…

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Gold recovers early losses as US stock market melts down

Gold recovers early losses as U.S. stock market melts down Gold prices are up a bit at midday Wednesday. The yellow metal recovered moderate early losses as some safe-haven demand surfaced amid a big sell off in the U.S. stock market at mid-week. June gold futures were last up $1.40 at $1,820.50. July Comex silver futures were last down $0.11 at $21.64 an ounce. Global stock markets were mixed overnight. U.S. stock indexes are sharply lower on corrective pullbacks following…

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Gold silver up but gains fade after upbeat US economic data

Gold, silver up, but gains fade after upbeat U.S. economic data Gold and silver prices are just modestly higher in midday U.S. trading Tuesday and lost solid early gains after some stronger-than-expected U.S. economic data and rising U.S. bond yields. The metals were supported by rising crude oil prices that hit a nine-week high earlier today, and sharp daily losses in the U.S. dollar index. However, crude oil prices did back down as the session progressed. June gold futures were…

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Short-covering in gold silver bulls have more heavy lifting ahead

Short-covering in gold silver; bulls have more heavy lifting ahead Gold and silver prices are higher, with silver sharply up, in midday U.S. trading Monday. Gold hit a nearly four-month low overnight. Short covering by the shorter-term futures traders was featured on this first day of the trading week. A weaker U.S. dollar index, higher crude oil prices and lower bond yields on this day also worked in favor of the metals markets bulls. However, the bulls need to put…

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Gold price in 5 years: 1300 or 4000?

Gold price in 5 years: $1,300 or $4,000? A massive selloff in U.S. stocks, extreme panic in the crypto space, and the worst week for gold in almost a year are just a few headlines that describe the volatility seen all across the board. Here's a look at Kitco's top three stories of the week: 3. 'Extreme panic' in crypto: How risky is Bitcoin price below $30k? 2. Gold price is in a 'danger zone' 1. Gold price's 5-year outlook:…

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Gold price sees worst week in 11 months but is the market oversold?

Gold price sees worst week in 11 months, but is the market oversold? The gold market is looking to close the week down around 4%, its worst weekly close since mid-June 2021. But its current price level of around $1,800 an ounce could put gold at risk of a bigger selloff, according to analysts. Gold was hurt by technical selling pressure after dropping below the $1,830 an ounce Thursday, which served as support. The precious metals also suffered from higher…

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Gold lost 382 this week resulting in a fourth consecutive weekly decline

Gold lost 3.82% this week, resulting in a fourth consecutive weekly decline Gold opened at $1977 on Monday, April 18, and this would mark the beginning of four consecutive weekly declines. As of 5:10 PM EDT gold futures basis, the most active June 2022 Comex contract is fixed at $1810.30 after factoring in today’s decline of $14.30 or 0.78%. Today’s decline in gold occurred without the benefit of dollar strength. The dollar index declined by 0.36% and is currently fixed…

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Gold silver punished by strong USDX that hits 20-year high

Gold, silver punished by strong USDX that hits 20-year high Gold and silver prices are sharply lower in midday U.S. trading Thursday, pressured in part by a very strong U.S. dollar index that today scored a 20-year high. Bearish charts are also keeping the technically based bears active on the sell side in the futures markets. June gold futures were last down $19.20 at $1,834.50. July Comex silver futures hit a 22-month low today and were last down $0.70 at…

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Gold price on ‘cusp’ of 2k rally here’s how not to miss it Bloomberg Intelligence

Gold price on 'cusp' of $2k rally, here's how not to miss it – Bloomberg Intelligence After a disappointing May start, gold could be on a cusp of a major breakout above $2,000 an ounce, according to Bloomberg Intelligence. After falling 6.5% in the last month, gold is now near a bottom, with the $1,800 an ounce serving as a floor for prices, Bloomberg Intelligence senior commodity strategist Mike McGlone told Kitco News. Investors have been reevaluating their risk-on positions…

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