David

Gold price jumps nearly $25, is this the start of a breakout? With the Federal Reserve's tapering and new employment data out of the way, the gold market is finally moving. Gold jumped $25 on Friday as markets started to anticipate a more patient Federal Reserve going forward. December Comex gold futures were last at $1,818.60, up 1.40% on the day. Despite kicking off tapering this month, Federal Reserve Chair Jerome Powell acknowledged uncertainty around inflation while stressing it is…

Gold breaks out, will it 'steal the show' in 2022? It's been a very busy data week for the markets. The Federal Reserve announced tapering of its asset purchases and the U.S. economy added more than 500,000 jobs in October. Gold is finally starting to react — surging $25 on Friday and rising well above the $1,800 an ounce level. Markets now seem to be pricing in a more patient Federal Reserve going forward. Here's a look at Kitco's top…

Gold's not going down without a fight It has been a frustrating couple of months for gold investors as the precious metal has been unable to attract any sustainable momentum. However, it looks like the tide is turning as rising inflation makes the precious metal an attractive, undervalued hedge. Gold prices are looking to close Friday near an eight-week high above $1,800 an ounce. This is the first time since late September that the precious metal has ended the week…

Gold surges as Bank of England mimic the Fed, indicating both central banks are in no rush to raise rates Gold prices surged in trading as the Bank of England joined the central bank of the United States, expressing that they were not in favor of raising interest rates at any time in the near future. During Chairman Jerome Powell's press conference yesterday, he made it clear that they're not even thinking about, thinking about raising rates anytime soon. In…

The Federal Reserve announces that they will begin to taper asset purchases this month As expected, today, after the November FOMC meeting, both the statement and press conference by Jerome Powell acknowledged that they will begin the process of tapering their monthly asset purchases this month. Starting this month, they will reduce their monthly purchases of U.S. debt by $10 billion each month and reduce their monthly purchases of MBS (mortgage-backed securities) by $5 billion monthly. This would mean that…

Gold price is a cheap hedge as Fed can't control supply-side inflation pressures – abrdn The Federal Reserve is on the cusp of shifting its monetary policies, but it won't be enough to stop the growing inflation pressures, and it is only a matter of time before investors return to gold to protect their wealth, according to one market strategist. As the Federal Reserve starts its two-day monetary policy meeting, expectations are growing that the central bank will reduce its…

Gold price at daily highs as ISM Manufacturing Index retreats but beats expectations in October Gold prices ticked to daily highs as the headline manufacturing index from the Institute for Supply Management retreated in October but came in above expectations. The ISM manufacturing index was at 60.8% last month, beating the consensus forecast of 60.5%. But the monthly figure marked a 0.3 percentage-point decline from September's reading of 61.1%. "This figure indicates expansion in the overall economy for the 17th…

Tale of two factions – those that believe the Fed will remain hawkish, and those that believe the Fed can't Gold prices dropped dramatically in trading today, making an intraday low of $1772.40. As of 3:25 PM EDT, gold futures are fixed at $1784.80. Today's selloff was predicated by dollar strength, with the dollar index gaining 0.90%, taking it to 94.165. That is the primary market force that made both gold and silver prices lower on the day. Gold is…

How bad will it get for gold price next week as markets eye Fed's tapering? The persistent inflation narrative is forcing markets to price in more aggressive central banks, with next week's key announcements from the Federal Reserve and the Bank of England on everyone's radars. All of the gold's gains above $1,800 an ounce continue to be capped. After breaching this key resistance level this week, the precious metal once again saw renewed selling pressure as profit-takers took the…