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Gold price erosion continues amid strong U.S. dollar, higher bond yields Gold and silver prices are again lower in early U.S. trading Friday, with gold hitting a three-week low. The seemingly relentless appreciation of the U.S. dollar on the foreign exchange market and the resulting rise in U.S. Treasury yields continue to undermine the precious metals markets. December gold was last down $11.50 at $1,625.20 and December silver was down $0.434 at $18.255. Global stock markets were mixed to lower…

Gold investors still need to be patient After falling to a new two-year low, the gold market was thrown another lifeline after the Wall Street Journal reported that the Federal Reserve could start to slow the pace of interest rates after its November monetary policy meeting. Gold prices have managed to end the week back above $1,650, which has been an important short-term psychological level for many investors and technical analysts. Unfortunately, gold investors have been burned by false hope…

Gold is an 'unexpected loser,' but silver price is the one stuck with the downgrade from S&P Global Fundamentals no longer matter as much for the precious metals outlook, with rate hike expectations and concerns around energy having a bigger impact on all metals prices, said S&P Global. "Metals prices face macroeconomic headwinds. September was characterized by more significant interest rate hikes to combat inflation in major economies as central banks became increasingly concerned by the possibility of a global…

Gold struggles in light of weak dollar as rate hikes loom Gold continues to struggle even in light of a strong decline in the U.S. dollar. Gold had respectable gains in New York trading today, but gave up those gains in Globex trading. By the close of trading in New York today gold had added $15.10 of value and was fixed at $1664. As of 4:30 PM, EDT gold futures basis most active December contract is up only $5.80 or…

Gold prices drop sharply as U.S. CPI rises 0.4% in September Gold prices have dropped sharply into negative territory as U.S. consumer prices rose more than expected in September, raising prospects that the Federal Reserve will maintain its aggressive monetary policy stance through the rest of the year. Thursday, the U.S. Labor Department said its much-anticipated Consumer Price Index rose 0.4% last month after a 0.1% rise in August. Economists were looking for an increase of 0.2%. The report said…

Gold/Silver – Where is the bottom? It was another volatile week in the markets, both for the longs and the shorts, with the technical backdrop continuing to deteriorate. Rampant inflation reaffirms the Federal Reserve will continue to reverse the loose monetary policy after CPI on an annualized basis came in at 8.2% versus expectations of 8.1%. The latest CME Fedwatch tool is pricing in a 97.8% chance of a 75 bps rate hike at the November 2 meeting and now…

Gold price drops nearly $90 from October highs, Wall Street turns exceedingly bearish on precious metals The short-term outlook on gold remains bleak, with analysts turning overwhelmingly bearish on the precious metal as the $1,650 an ounce level breaks. The precious metal is down nearly $90 from its October highs of $1,737 an ounce, with December Comex gold futures last trading at $1,648.70, down 1.69% on the day. The technical picture is also quite bearish as the selloff opens the…

Gold, silver recover most of sharp, early losses Gold and silver prices are modestly lower in midday U.S. trading Thursday but have made a solid rebound from early-morning losses following another hot U.S. inflation report. Strong losses in the U.S. dollar index and higher crude oil prices today are working in favor of the precious metals market bulls. However, rising U.S. Treasury yields are still keeping buyers in gold and silver timid. December gold was last down $4.30 at $1,673.30…