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Gold hits 12-mo. high, falls back a bit on profit taking Gold and silver prices are slightly up in midday U.S. trading Monday, with gold notching a 12-month high of $2,014.90 overnight, basis April Comex futures, and silver a six-week high. Some normal profit-taking pressure and chart consolidation are seen on the price pullbacks from the overnight highs. Still, safe-haven demand for the metals is present in a shaky general marketplace amid the U.S. and European banking crisis. The technical…

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Gold surges to $1982.8 as investors rethink the banking crisis and accommodative Fed Gold futures surged to the highest value of 2023 taking out the former high of $1976 achieved in February. As of 4:09 PM EST, the most active April contract of gold futures is up $58.10 or 3.02% and fixed at $1981.10. Although dollar weakness contributed to today’s dramatic ascent it was only a small factor in a much larger picture. Considering that gold futures had a net…

    Today’s CPI report revealed that inflation continues to be troublesome and elevated in some sectors, with a fractional decline overall from 0.5% in January to 0.4% last month. Headline inflation continues to slowly dissipate from 6.4% year-over-year in January to 6% in February. Core inflation also remains elevated coming in at 5.5% year-over-year compared to 5.6% in January. Housing which includes mortgages and rentals composed the largest category and accounted for more than 70% of last month’s increase…

Gold prices soar as investors fearing more bank meltdowns move into safe havens Gold has gained almost $100 in the last two days of trading. Gold futures basis most active April contract opened at $1835 on Friday and closed at $1867. Today gold opened at $1877 and as of 5:30 PM EST is currently fixed at $1917.30 after factoring in today’s gain of $50.10 or 2.66%. Gold’s dramatic rise is largely the byproduct of a potential banking crisis with two…

Thursday's Charts for Gold, Silver and Platinum and Palladium, March 9 Kitco Commentaries | Opinions, Ideas and Markets Talk Featuring views and opinions written by market professionals, not staff journalists. Understanding the charts: Due to popular demand, we have added Palladium to the list of Analytical Charts that Metals Analyst Jim Wyckoff features. Sharpening Your Trading Skills: Using Bollinger Bands Sharpening Your Trading Skills: The MACD Indicator Sharpening Your Trading Skills: Moving Averages Sharpening Your Trading Skills: The Relative Strength…

Gold rallies on financial stability risks as investors rush to safety, analysts are watching inflation report, Fed reaction The gold market posted an unexpected weekly gain on potential contagion risks from the Silicon Valley Bank (SVB) meltdown. The precious metal is once again the safe-have trade, with investors rushing in after Friday's SVB collapse. California banking regulators moved quickly to close SVB Financial Group in what is the largest bank failure since the financial crisis. SVB was one of the…

Short covering, position evening in gold ahead of U.S. jobs data Gold prices are higher in midday U.S. trading Wednesday, with silver near steady. Short covering and some position squaring are featured in the precious metals futures markets just ahead of an important U.S. economic data point Friday morning. April gold was last up $13.20 at $1,831.70 and May silver was up $0.024 at $20.175. The general marketplace was quieter Thursday, ahead of the February U.S. employment situation report from…