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A strong jobs report supports continued monetary tightening by the Federal Reserve A Bloomberg survey of economists indicated that the medium estimate for jobs added in May would show that approximately 318,000 new jobs were added. Additionally, the survey also predicted that the unemployment rate would fall to 3.5%. A Wall Street Journal survey of economists forecasted that employers would add 328,000 jobs in May. The survey also anticipated that the unemployment rate would fall to 3.5%. Both surveys underestimated…

Gold pricing -The dollar gives value and the dollar takes it away Unquestionably dollar strength or weakness plays an extremely critical role in day-to-day price changes of gold. Intrinsically dollar strength or weakness has an exact correlation to price changes in gold. That is because in North America gold prices are paired against the U.S. dollar. Market sentiment that defines whether traders and investors are bidding gold prices higher or lower is always only partially responsible for gold’s net price…

Gold declines almost 1%, flirting with the 200-day Tuesday May 31, 2022 18:06 Today's price decline results in the second consecutive month of lower prices. On a technical basis, the fact that gold tested and briefly dipped below its 200-day moving average brings up a realistic probability that the long-term market sentiment for gold is neutral to bearish. As of 4:30 PM, ET. August gold is trading near its low today of $1837.60, and the 200-day moving average is currently…

Gold prices stuck in no-mans land holding support at $1,850 on quiet U.S. holiday Gold prices have dropped from their overnight highs but continue to hold support above $1,850 an ounce; Commodity analysts note that the market generally lacks conviction in any direction as U.S. markets are closed for the Memorial Day long weekend. Spot gold prices are trading in neutral territory Monday morning, last trading around $1,856 an ounce. Analysts note that the precious metal is trading in the…

If gold is not the best inflation hedge, then what is? Nancy Davis Gold and oil are not ideal investments for those seeking inflation hedging, according to Nancy Davis, Founder and Managing Partner of Quadratic Capital Management. Davis spoke with David Lin, Anchor and Producer at Kitco News.   Stock and Bond Market Davis commented on the recent stock market selloffs. She attributed the fall in prices to companies facing higher costs. “This is a little bit of a wakeup…

Gold prices still holding $1,850 as PCE core inflation rises 4.9%, in line with expectations The gold market continues to hold around the critical psychological level of $1,850 but according to some analysts, could struggle in the near-term as inflation pressures could have peaked. On a monthly basis, the core Personal Consumption Expenditures Index, the Federal Reserve’s preferred inflation measure, increased 0.3% last month, the U.S. Department of Commerce said on Friday. The inflation data was in line with expectations.…

Gold, silver near steady amid conflicting daily inputs Gold and silver prices are not trading too far from unchanged in midday action Thursday. Bearish for the metals is a stabilization of the U.S. stock indexes this week, after hitting 12-month lows last week. Rising bond yields at midday are also a negative for the metals. However, sharply higher crude oil prices and a weaker U.S. dollar index are working in favor of the metals market bulls on this day. June…

Gold, silver sell off amid rebound in USDX, uptick in bond yields Gold and silver prices are lower in midday U.S. trading Wednesday, with gold suffering solid losses. Corrective pullbacks from recent good price gains are featured at mid-week. A rebound in the U.S. dollar index and rising U.S. Treasury yields are negatives for the precious metals on this day. June gold futures were last down $22.30 at $1,843.10. July Comex silver futures were last down $0.228 at $21.84 an…