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Gold price surges back to 6-month highs on mixed U.S. data, focus shifts to inflation next week The latest macro data out of the U.S. pushed gold back to six-month highs after the U.S. economy and employment showed signs of cooling. The gold market was at one point just $25 away from its key $1,900 an ounce level on Friday, with February Comex gold last at $1,873.40, up 2.4% on the week. The biggest macro event of the week showed…

Gold moves lower temporally halting rally on Fed clarifications of inflation concerns Breaking four consecutive days of gains, gold prices declined today by $20 as market participants reacted to data revealing that the U.S. labor market is tighter than previously perceived. A tight labor market raises the expectations that the Federal Reserve will maintain the elevated interest rates for a longer period. The expectations that the Fed will continue its extremely hawkish monetary policy throughout the entire calendar year have…

Gold continues 2023 rally amidst minutes revealing Fed remains hawkish This afternoon the Federal Reserve released the minutes from last month’s FOMC meeting. Unanimously Fed officials agreed that the central bank should slow the pace of its aggressive rate hikes. This would allow them to continue to ratchet up the cost of credit to curb inflation. They continue to be worried that market participants have an inaccurate perception of hoping for rate cuts this year. However, they left the door…

Steady-weak price action in gold, silver as 2022 winds down Gold and silver prices are not straying too far from unchanged levels in quieter early U.S. trading Friday. Many traders are on holiday this week, making for lighter trading volumes and thin conditions. Traders will hit the exit doors early today, ahead of the three-day New Year holiday weekend. February gold was last down $2.40 at $1,823.60 and March silver was down $0.21 at $24.035. Global stock markets were mixed…