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Gold, silver sell off as USDX rebounds from overnight low Gold and silver prices are lower and nearer their daily lows in midday U.S. trading Monday. The metals are seeing selling pressure as the U.S. dollar index has rallied after trading solidly lower overnight. There are also worries about global demand for metals as unrest in China, the world's second-largest economy, is likely to further squelch that country's economic growth. February gold was last down $11.10 at $1,757.90 and March…

The Fed is not ready to pivot now, but it might be soon The gold market continues to hold its own as prices end the week slightly above $1,750 an ounce. The precious metal was once again thrown a lifeline by the Federal Reserve after the minutes from the November monetary policy meeting were deemed to have a dovish tilt. According to the minutes, a majority of participants judged that a slowing in the pace of increases would likely be…

Gold needs a new catalyst as prices end the week around $1,750 The gold market is holding its own at $1,750 an ounce, but analysts are warning investors not to expect a breakout move anytime soon as the precious metal is in desperate need of a new catalyst to drive prices. According to commodity analysts, the Federal Reserve's aggressive monetary policy stance remains the most significant driver for the gold market. While the U.S. central bank has signed that it…

SocGen looks for bonds to outperform equities as Fed pivots in Q2 – gold remains a risk hedge A mild recession in the U.S. in 2023 will force the Federal Reserve to pivot in the second quarter of next year, according to market analysts at Société Générale. The French bank said Thursday that it was making some significant changes to its multi-asset portfolio ahead of the new year and is heavily weighted toward sovereign debt compared to equities and commodities. The…

Gold price firms after FOMC minutes lean a bit dovish Gold and silver prices are higher and hit daily highs in afternoon U.S. trading Wednesday. The U.S. data point of the week saw the FOMC meeting minutes tilt slightly dovish on U.S. monetary policy. December gold was last up $5.70 at $1,745.50 and December silver was up $0.381 at $21.43. The just-released minutes from the last FOMC monetary policy meeting showed FOMC members saying it would soon be appropriate to…

Gold, silver slightly up amid weaker USDX, higher crude oil Gold and silver prices are slightly higher but well off daily highs in midday U.S. trading Tuesday. The metals are getting a slight lift from a lower U.S. dollar index and higher crude oil prices on this day. U.S. Treasury yields have down-ticked today and that's also limiting selling interest in the safe-haven metals. December gold was last up $2.20 at $1,741.80 and December silver was up $0.178 at $21.05.…

Gold, silver down as USDX rallies, crude oil tanks Gold and silver prices are solidly lower in midday U.S. trading Monday. The metals are feeling the heat of strong gains in the U.S. dollar index to start the trading week and a big drop in crude oil prices. December gold was last down $20.00 at $1,734.30 and December silver was down $0.302 at $20.70. The key outside markets today see the U.S. dollar index in a strong rebound, including sharply…

Market sentiment for gold adjusts to recent Fed officials' comments The Merriam-Webster dictionary defines sentiment as, “an attitude, thought, or judgment prompted by feeling: predilection.: a specific view or notion: opinion.: emotion.: refined feeling: delicate sensibility especially as expressed in a work of art.: emotional idealism.” As it pertains to the financial markets, market sentiment is the view or attitude that creates our opinion as to whether an asset class is overvalued or undervalued. It shapes and changes the value…

Did gold price rally run out of steam? After nearly hitting $1,780 an ounce this week, gold is starting to backtrack amid hawkish comments from Federal Reserve officials. And analysts are warning that a drop below $1,750 an ounce could end the rally and open the door to a steeper pullback. The extent of the rally in gold took many by surprise these past two weeks. But the precious metal might have moved too high, too fast, RJO Futures senior…