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Gold consolidates after trading to a double top near $1825 yesterday Market participants are acutely aware of next week’s FOMC meeting which begins on Tuesday, December 13, and concludes the following day. Following the conclusion of the last FOMC meeting of the year, the Federal Reserve will release a statement which will be followed by Chairman Powell’s press conference. It is highly anticipated that the Federal Reserve will raise its benchmark Fed funds rate as it has at every consecutive…

Gold, silver hit hard by profit taking, bearish outside markets Gold and silver prices are sharply lower in midday U.S. trading Monday after hitting multi-month highs overnight. The metals are being hit by heavy profit taking from the shorter-term futures traders and by bearish outside markets. The U.S. dollar index is solidly higher and crude oil prices are lower and lost good early gains. Rising U.S. Treasury yields are also a bearish element for the precious metals markets today. February…

Will $1,800 bring the gold bulls back? Analysts look for follow-through buying next week rowing expectations that the Federal Reserve will slow the pace of rate hikes are creating new momentum in the gold market as prices ended the week above $1,800 an ounce. However, some analysts aren't entirely convinced that new capital is coming into the market. Analysts said they are anxious to see if the precious metal can attract some follow-through buying next week and solidly break out…

Solid performances from gold & silver and a jobs report above expectations Solid performances from gold & silver and a jobs report above expectations Both gold and silver had stellar performances this week. This week the precious metals moved on both the jobs report and chairman Powell’s speech on Wednesday. Gold futures opened today at $1817 and traded to a low of $1791.80 before substantially recovering. As of 4:00 PM EST, the most active February 2023 contract is fixed at…

Gold, silver rally amid bullish outside markets, dovish Powell Gold and silver prices are sharply higher in midday U.S. trading Thursday, with gold notching a 3.5-month high and silver a six-month high. A slumping U.S. dollar index, higher crude oil prices and falling U.S. Treasury yields on this day are all boosting the precious metals markets.  March silver futures prices hit a six-month high today. The silver bulls have the firm overall near-term technical advantage. Prices are in a choppy…