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Price pressure on gold, silver as USDX, bond yields rebound Gold and silver prices are moderately down in early U.S. trading Friday, once again falling victim to a higher U.S. dollar index and rising U.S. Treasury yields to end the trading week. December gold was last down $10.90 at $1,654.60 and December silver was down $0.199 at $19.29. The geopolitical front is far from calm at present. However, there have been no major, new developments to shake up the marketplace.…

Gold market sees muddle sentiment, but price needs to hold above $1,620 next week Once again, gold is poised on a knife's edge as the prices end the week below $1,650 an ounce, and muddled market sentiment is unlikely to provide any clear direction for the precious metal next week. Latest Kitco News Gold Survey shows that bullish analysts and retail investors have a slight advantage; however, there is no dominant conviction in the marketplace. According to some analysts, many…

Gold has respectable gains, but still based on dollar weakness and not buying Golf futures basis the most active December 2022 Comex contract is currently up $11.20 and fixed at $1669.70. Noteworthy was today’s intraday high of $1679.40 which came in just below the first level of resistance at $1680. However, once again we can see that while gold’s gains are respectable, they are based entirely upon dollar weakness. Furthermore, market participants bid the precious metal lower. According to Reuters,…

Gold’s tepid response to dollar weakness and geopolitical uncertainty One might think that with the increased geopolitical uncertainty and recent dollar weakness that gold would have strong gains. However, that is absolutely not true in trading today. As of 5:15 PM EDT, the most active December contract of gold futures is currently up only $3.30 or +0.20% and fixed at $1657.40. Fractional gains in gold today have occurred with extreme dollar weakness. The U.S. dollar index is currently down -1.02%…

Market participants continue to be headlined driven as seen in gold on Friday Gold investors and traders are reacting strongly to any shift in the Federal Reserve’s narrative concerning upcoming interest rate hikes. This was seen on Friday when a single article published by the Wall Street Journal resulted in strong gains for gold. On Friday Mary Daly the president of the San Francisco Federal Reserve Bank said, “I think the time is now to start talking about stepping down…

Gold price erosion continues amid strong U.S. dollar, higher bond yields Gold and silver prices are again lower in early U.S. trading Friday, with gold hitting a three-week low. The seemingly relentless appreciation of the U.S. dollar on the foreign exchange market and the resulting rise in U.S. Treasury yields continue to undermine the precious metals markets. December gold was last down $11.50 at $1,625.20 and December silver was down $0.434 at $18.255. Global stock markets were mixed to lower…

Gold investors still need to be patient After falling to a new two-year low, the gold market was thrown another lifeline after the Wall Street Journal reported that the Federal Reserve could start to slow the pace of interest rates after its November monetary policy meeting. Gold prices have managed to end the week back above $1,650, which has been an important short-term psychological level for many investors and technical analysts. Unfortunately, gold investors have been burned by false hope…

Gold is an 'unexpected loser,' but silver price is the one stuck with the downgrade from S&P Global Fundamentals no longer matter as much for the precious metals outlook, with rate hike expectations and concerns around energy having a bigger impact on all metals prices, said S&P Global. "Metals prices face macroeconomic headwinds. September was characterized by more significant interest rate hikes to combat inflation in major economies as central banks became increasingly concerned by the possibility of a global…