Archive

Stronger U.S. jobs data pressure gold, silver Gold and silver prices are lower in midday U.S. trading Thursday, following a much stronger-than-expected U.S. ADP employment report this morning that showed a gain in jobs that was double market expectations. The report pushed the U.S. dollar index well off its overnight low and also pushed U.S. Treasury yields higher. August gold was last down $10.50 at $1,916.70 and September silver was down $0.497 at $22.905. The June U.S. ADP report showed…

Gold pauses ahead of FOMC minutes release Gold prices are near steady up and silver solidly higher in midday U.S. trading Wednesday. Short covering from the futures traders was featured, especially in silver, ahead of the afternoon FOMC minutes from the Federal Reserve. August gold was last up $0.10 at $1,929.60 and September silver was up $0.308 at $23.42. Despite a holiday-shortened U.S. trading week, it’s still a busy one for the marketplace. The latest FOMC minutes from the Federal…

Gold prices to remain in neutral territory for the rest of 2023, silver to see slightly higher prices – BMO Capital Markets Gold's brief push above $2,000 an ounce in mid-May could represent the yellow metal's high-water mark for the year as markets continue to adjust to dynamic interest rate expectations and a resilient U.S. economy. In their latest quarterly outlook, analysts at BMO Capital Markets said that they are leaving their year-end average gold price target unchanged at $1,905…

Gold, silver see mild rebounds on short covering Gold and silver prices are modestly higher in midday U.S. trading Monday. Short covering from the futures traders is featured following the recent selling pressure in both markets. Activity was muted to start the U.S. holiday-shortened trading week. August gold was last up $4.20 at $1,933.50 and September silver was up $0.11 at $23.13. Asian and European stock markets were mixed to higher in quieter overnight trading. U.S. stock indexes mixed at…

Fed will raise rates to 6% in 2023, gold could hit $10k by 2025 – Tom Luongo The Federal Reserve will hike interest rates to 6 percent in 2023, according to Tom Luongo, Publisher of Gold, Goats 'n Guns. Luongo had correctly forecast in 2022 that Fed Chair Jerome Powell would continue to hike into the 4.5 to 6 percent territory in 2023, when many analysts were forecasting a pivot or pause. "I think he [Powell] will raise again, and…

When fiction reveals the flaws in well-thought-out plans In both comedy films and real life, we often encounter situations where meticulously crafted plans fall flat on their faces. This article takes a humorous perspective on the notion that sometimes fiction can be more viable than a supposedly well-thought-out plan. While the focus of this article is the recent decline in gold, it also draws parallels to a comedic dialogue from Men in Black and a plan devised by Chairman Powell…