David

Gold is flat leading into the EU session Gold and silver are mixed leading into the EU session this morning. Gold trades $15 above the $1700/oz level while silver is at $25.79/oz. After inheriting a positive risk sentiment overnight the Aisa-Pac bourses are mixed. The ASX (-0.84%) and Shanghai Composite (-0.05%) trade in the red while the Nikkei 225 closed 0.03% higher. In FX markets, the greenback is the strongest currency overnight. The dollar index trades 0.19% higher at 92.13,…

A strong dollar and selling pressure take gold lower It was a combination of U.S. dollar strength and market participants bidding the precious yellow metal lower that resulted in today’s substantial decline. As of 4:07 PM EST, gold futures basis, the most active April 2021 Comex contract is currently fixed at $1677.70 after factoring in today’s decline of $20.90 (1.23%). Spot gold prices also sold off with the same strong decline. According to the KGX (Kitco Gold Index), physical gold…

Brutal March? Gold price at risk of a flash crash to $1,600 – analysts The first week of March was a damaging one for gold as prices broke through the psychological level of $1,700. Now, the key question on everyone's minds is just how much lower can gold drop before bottoming out? Down more than $200 since the start of the year, gold investors are looking for the magical line in the sand that will signal the end of the…

Gold and silver edge higher leading into the EU open Gold and silver have started the session higher but in recent days when this has been the case, the sentiment has turned later in the sessions. The yellow metal is trading around half a percent higher leading into the EU open but the daily chart structure still looks more bearish than silver. After inheriting bearish sentiment from the US bourses indices in the Asia Pac area are softer this morning.…

Gold trades slightly lower at the EU open After bouncing off the lows during yesterday's session gold and silver are back in negative territory on Wednesday. The yellow metal trades 0.22% lower at $1734//oz, while silver trades around flat. After inheriting a negative tone from Wall Street bourses in the Asia Pac area turned it around to push higher. The Nikkei 225 (0.51%), ASX (0.82%) and Shanghai Composite (1.95%) all closed in the black. FX markets were a bit flat…

Gold and silver struggle leading into the EU open Gold and silver have moved lower overnight into pretty bearish territory. After a good start to the session yesterday, both precious metals closed lower and leading into the EU open gold trades at $1719/oz. All of the major bourses in the Asia-Pac area are in the red as risk sentiment was poor. The Nikkei 225 closed down 0.86%, the ASX moved 0.40% lower and the Shanghai Composite is 1.21% in the…

Losing streak – Gold price down nearly $200 since start of the year, what's next? Gold is looking at its second month of losses in 2021 as markets wrap up February, and analysts warn of more downside action with the precious metal testing critical support levels. After kicking off the year around $1,912, the precious metal touched a fresh eight-month low of $1,714 on Friday — down nearly $200 since the start of the year. And if gold price fails…

Is gold price gearing up for a Christmas rally? As this tumultuous year winds down, the gold price seems to be positioning itself for a year-end rally as markets bet on more stimulus next week, analysts told Kitco News. Gold price attempted to push through the key psychological resistance level of $1,900 an ounce this week but ended up settling just below that on Friday. February Comex gold futures were last trading at $1,888.70, up 2.5% on the week. Gold…

Gold and silver are now in a perfect storm scenario Sadly, the events that began in March when the Covid-19 epidemic officially became a global pandemic has led to the current state of the economy. Actions by the Federal Reserve and the U.S. Treasury have resulted in a perfect storm of events that have taken gold to its highest price ever in August 2020. The fundamental events that have led to the series of massive rallies in gold and silver…