David

Gold suffers amid solid gains in USDX, steep rise in U.S. Treasury yields Gold and silver prices are solidly lower in midday U.S. trading Monday, pressured by a U.S. dollar index that is solidly higher and trading near a 20-year high, and by sharply rising U.S. Treasury yields that are at multi-year highs. Gold prices did hit a five-week high overnight but those gains could not be held. August gold futures were last down $41.30 at $1,833.80. July Comex silver…

Gold is great, but it's not Bitcoin – Edward Snowden talks independent money Gold is Bitcoin without the Internet option, said Edward Snowden, whistleblower and president of the Freedom of the Press Foundation. He also sees the financialization hype dividing the crypto space, advising people to use cryptocurrencies instead of investing in them. At the Consensus 2022 conference in Austin, Snowden stressed the need for an independent form of finance, which is how gold came up. "Gold is great, but gold…

Inflation driving momentum in gold. but Fed rate hikes remain headwinds The gold market remains caught in a tug of war between rising interest rates and inflation; however, momentum could be shifting to the bullish side as prices end the week at the top of their range above $1,850 an ounce. Gold prices have hovered around $1,850 an ounce for the past three weeks. After some intense selling pressure early Friday, the precious metal saw a dramatic rebound as prices…

CPI report confirms what Americans already know; Inflation continues to rise Today the U.S. Bureau of Labor Statistics released the CPI (Consumer Price Index) for May. The report confirmed what North Americans have known and been entrenched in; the fact that inflation continues to spiral out of control, and is now at the highest point in 41 years. The CPI rose 0.3% in April. This takes last month’s inflationary pressures to the highest year-over-year (YoY) change in 41 years. This…

Gold, silver down as USDX rallies, U.S. Treasury yields remain elevated Gold and silver prices are lower in midday U.S. trading Thursday, pressured by a rally in the U.S. dollar index on this day and by U.S. Treasury yields that remain elevated. Gold down-ticked a bit more following the European Central Bank regular monetary policy meeting, at which the central bank kept its policy unchanged but said it will likely raise interest rates starting in July. August gold futures were…

Gold market is waiting for next week's Fed meeting – StoneX's O'Connell The gold market has been trapped in a three-week holding pattern and could continue to consolidate until next week's Federal Reserve monetary policy meeting, according to one market analyst. The CME FedWatch Tool shows that markets see a more than 90% chance that the Federal Reserve will raise interest rates by another 50-basis points. The central bank has signaled that it could raise interest rates by 50-basis points…

Gold pricing consolidates above the 200-day moving average As of 4:55 PM EDT gold futures basis, the most active August 2022 contract is fixed at $1854.40 which is a net gain of $10.70 or 0.58%. In fact, over the last 13 trading days, gold prices have remained and closed above a key technical study that indicates whether or not a stock or commodity is in a long-term bullish or bearish trend; the 200-day moving average. Currently, this key indicator is…

Gold loses early gains as greenback, U.S. Treasury yields push higher Gold prices are modestly down in midday U.S. trading Monday, while silver is holding mild gains. Both metals lost altitude in morning trading as the U.S. dollar index rallied to its daily high, while U.S. Treasury yields resumed their upward advance. The yield on the 10-year U.S. Treasury note is now fetching 3.02%. August gold futures were last down $4.70 at $1,845.50. July Comex silver futures were last up…

Russia's Gold Standard a "Pipe Dream"; Why a Gold Standard Is Not Happening – Jeff Christian and Gary Wagner According to Jeff Christian and Gary Wagner, Russia did not return to a gold standard after the Ukraine war. And even if they had, a gold standard won't work. Jeff Christian is the Managing Director of CPM Group, while Gary Wagner is the Editor of TheGoldForecast.com. They spoke with David Lin, Anchor and Producer at Kitco News. Monetary Policy and Gold…

What's next for gold price after May's U.S. employment surprise? Despite an impressive two-day rally, gold is ending the week flat after the upbeat U.S. May employment report managed to keep the doom and gloom projections about the economy's future at bay. The gold market hit new daily lows Friday as markets digested U.S. nonfarm payrolls rising 390,000 versus the expected 328,000. "The May jobs report is showing moderation in economic momentum. However, the sharp declines anticipated by the market…