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Gold market is in 'buy the dip' mentality until Fed's messaging, analysts watching Powell's banking sector comments – analysts Gold is stuck in a tight range, with the "buy the dip" mentality dominating the market. Investors are keenly watching the Federal Reserve's widely expected 25-basis-point rate hike next week. But if markets interpret the messaging as a "hawkish pause," gold's rally could re-start, according to analysts. The gold market is looking to wrap up April with a slight gain of…

Gold a bit weaker following downbeat U.S. GDP data Gold prices are modestly down in midday U.S. trading Thursday, in the aftermath of a major U.S. economic report that was weaker than expected and falls into the camp of those expecting a U.S. economic recession. Such a scenario would likely mean less consumer and commercial demand for metals. June gold was last down $3.40 at $1,992.80 and May silver was up $0.009 at $24.885. First-quarter U.S. GDP growth came in…

Gold weaker as U.S. Treasury yields up-tick Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here! (Kitco News) – Gold prices are modestly down and silver near steady in midday U.S. dealings Wednesday. The precious metals markets are seeing buying interest limited by a rise in U.S. Treasury yields at mid-week. However, losses in metals are being…

Info from Thursday’s GDP and Friday’s PCE report will guide investors This week will contain two exceedingly important government reports on the US economy. These two reports will be exceedingly important in guiding the final decision of the Federal Reserve at the FOMC meeting next week. Beginning on Thursday the Bureau of Economic Analysis (BEA) will release the Gross Domestic Product first quarter report. An average of the current forecasts is predicting that the first quarter GDP for 2023 will…

Gold price plunges $30, but analysts focus on Fed pause after May rate hike Gold tumbled $30 on the day and dropped below the critical $2,000 an ounce level, but analysts said there is enough buying interest to boost prices back up. Significant volatility in the U.S. dollar and Treasury yields markets took a toll on gold Friday, with June Comex gold futures last trading at $1,989.10, down 1.49% on the day. The Fed's blackout period also begins this Saturday,…

Gold is just stepping back to build a running start After a month of massive volatility, markets are now comfortable with the idea that the Federal Reserve is not done raising interest rates. Not only is a 25-basis point hike for May firmly priced in, but markets have now pushed back the timing of any potential rate cut to the end of the year. At the height of last month's banking crisis, markets were pricing in a potential rate cut…

The hawkish Fed narrative continues to underscore the need for further rate hikes The recent volatility that led to diminished bullish market sentiment for gold has diminished as gold continues to effectively find support at $2000 per ounce and above. Today gold traded to a low of $2002.20, effectively above the current critical support level of $2000. This morning in New York traders witnessed a quick and powerful price surge taking gold to a high of $2024.20. As of 4:00…

Fed narrative alarms traders who believe that a rate pause is imminent after the May rate hike Recent volatility led to diminished bullish market sentiment for gold causing a price break and taking gold futures to $1980.90 before recovering. This morning in New York traders witnessed a quick and powerful price decline in gold breaking $20 below $2000 and recovering just as quickly as it sold off. This was in response to Federal Reserve officials who continue to reiterate the…