'We're in untested waters,' hard assets are real winners Gold is fighting for its spot above the $1,800 an ounce level. But analysts are not ruling out a selloff towards $1,730 as risk appetite and a stronger U.S. dollar weigh on gold. Here's a look at Kitco's top three stories of the week: 3. Elon Musk on owning bitcoin, ethereum and doge: 'I might pump, but I don't dump' 2. This shows 'how easy' it is to manipulate the gold…
Gold/Silver- time to get technical We just experienced one of the quieter weeks for Gold with all the distractions and headlines focusing on the "Delta Variant" and its potential negative impact on the reopening trade and Small Cap stocks. The Russell 2000 came under significant pressure along with Crude Oil on Monday and Tuesday, followed by a "V" shaped recovery that extend gains into the weekend. The significance is that volatility of specific asset classes will continue throughout the rest…
Gold fights against the currents of the dollar, rising yields, equities, and crypto Gold is undoubtedly swimming against strong currents, which are curtailing any move to the upside. Recently it has been struggling successfully to stay above $1800 per ounce. On Monday as well as today, gold prices came close to testing the 100-day moving average, which is currently at $1792.10, and on both occasions closed just above $1800. In the case of today’s intraday low of $1794.30 for gold…
Gold and silver are flat leading into the European open Gold and silver are trading flat this morning leading into the European open. Gold is still hanging on to the $1800/oz level while silver is just below $25/oz. In the rest of the commodities complex, copper has dropped 0.69% while spot WTI (0.72%) continues to consolidate after the large fall on Monday. The indices in the U.S. recovered somewhat during yesterday's session after a tough start to the week. The…
Gold bounces back from yesterday's lows leading into the European open Gold bounced back from the lows of $1795.14/oz seen yesterday to trade at $1817.20/oz leading into the European session. Silver has not recovered in the same fashion as its precious metal counterpart and trades flat at $25.15/oz. In the rest of the commodities complex, after a tough session yesterday, copper has moved 0.69% higher and spot WTI has pushed up a tiny bit after a dramatic -6.80% fall following…
Gold and silver move lower leading into the European open Gold and silver are starting the week on the soft side after falling during the Asia Pac session. The yellow metal trades -0.29% lower at $1805/oz while silver has lost just over 1%. In the rest of the commodities complex, copper continues to trade sideways after falling another -0.50% and spot WTI is also down -0.48%. The risk sentiment was also poor overnight as the Nikkei 225 (-1.25%) and ASX…
Is the U.S. dollar doomed? The inflation debate is back in the headlines, but gold is trading down nearly 1% on Friday. Analysts are keeping a close eye on the U.S. dollar and the bond market for clues as to where gold might head next. Here's a look at Kitco's top three stories of the week: 1. Hot inflation and better-than-expected retail numbers. 2. Federal Reserve Chair Jerome Powell testifies before Congress. 3. Firmer USD weighs on gold, but…
Don't chase gold and silver at these levels but buy the dips – Carley Garner Although the first quarter should represent the low in precious metals, one market strategist warns investors not to chase the market at current levels. In an interview with Kitco News, Carley Garner, co-founder of the brokerage firm DeCarley Trading, said that she has been bullish on gold since March and is expecting prices to end the year much higher. However, she added that there is…
Gold holds steady above $1800 but fails to truly break out to higher prices Continued pressure from exceedingly strong U.S. equities markets coupled with dollar strength has curtailed any continuation of the momentum created from the most recent rally. Gold hit an intraday low on June 29 of approximately $1750 and then traded higher for the next five consecutive trading days. This took gold futures above their 100-day moving average, which is currently fixed at $1789.80, before forming a base…
Gold and silver trade lower leading into the European open Gold and silver are leading into the first day of the trading week in the red. After closing 1.15% higher last week the yellow metal has lost nearly half a percent to trade at the psychological $1800/oz level once again. Silver has just dipped under the $26./oz mark and the support to watch is holding at $$25.51/oz. In the rest of the commodities complex, copper is down -0.75% and spot…