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Gold stages a relief rally after the Fed announces a 3/4% rate hike As anticipated the Federal Reserve concluded the July FOMC meeting with an announcement that they will raise rates by 75 basis points or 3/4%. While this was overwhelmingly expected as opposed to a larger 1% rate hike, there were subtle changes in the statement as well as comments made by Chairman Powell during the press conference. A change in the Chairman's tone In essence, for the first…

Gold prices remain under pressure as U.S. consumer confidence falls to 95.7 Gold prices are struggling to push into positive territory as pessimism grows among U.S. consumers, further raising fears of a potential recession. American consumer confidence index fell to 95.7 down from June's reading of 98.7, the U.S. Conference Board reported Tuesday. Economists were expecting to see the index at 97.3. According to economists the sharp drop in consumer sentiment could have a major impact on consumption and weigh…

Gold prices start the week down despite weak USD, silver prices down 2% Gold investors appear hesitant to jump into the precious metal even as the U.S. dollar starts the week on a soft note. According to some analysts, the Federal Reserve's impending monetary policy decision this week has pushed many investors and traders to the sidelines. According to the CME FedWatch Tool, markets see a more than 77% chance of a 75-basis point move. Although the prospect of a…

Gold/platinum/silver – Is the bottom in? Every bear market ends, and a bull market begins with a short covering rally. Whether you use fundamental or technical analysis, the end result is the same with a change of direction. Since the March peak, Platinum has been trending lower for four months and is finally showing signs of a potential bottom. Thursday's trading range helped create the right shoulder of an inverse head and shoulder pattern. The consolidation over the past four…

Will gold survive another 75 basis point hike The gold market is ending a five-week losing streak and while sentiment appears to be shifting, some analysts say that the precious metal still faces a challenging environment next week. August gold futures are looking to end the week with a more than 1% gain, last trading at $1,721.40 an ounce. All eyes will be on the Federal Reserve next week as markets expect the U.S. central bank to raise interest rates…

The Fed will 'abandon' tightening, causing gold to soar higher – Rich Checkan Gold's performance has been tumultuous this year, with the war in Ukraine sending the metal above $2,000 per ounce. Recently, however, gold has fallen in price, and is down year-to-date by 7.8 percent. Spot gold is currently trading at $1,725. Speaking with Michelle Makori, Editor-in-Chief and Lead Anchor at Kitco News, Rich Checkan, President and Co-Founder at Assets Strategies International, said, "people want to know why gold…

Gold rebounds as ECB gets aggressive, crude pares losses, USDX down Gold prices are moderately up in midday U.S. trading Thursday, on a short-covering and bargain-hunting bounce after prices hit a 15-month low overnight. Gold prices were also boosted today by crude oil paring sharp early losses, a dip in U.S. Treasury yields and a weaker U.S. dollar index. August gold futures were last up $9.60 at $1,709.60. September Comex silver futures were last up $0.002 at $18.67 an ounce.…

Gold weaker – "volatility collapse" portends bigger price move soon Gold prices are modestly lower in midday U.S. trading Wednesday, in more subdued mid-summer trading. However, there has been a “collapse in volatility” on the daily bar chart, which suggests a significantly bigger price move is on the horizon in gold—possibly yet this week. Given that gold prices are trending lower on the daily chart, odds favor that bigger price move being on the downside. Improved trader/investor risk appetite this…

Gold, silver near steady – new fundamental inputs awaited Gold and silver prices are trading not far from unchanged in midday U.S. trading Tuesday. A big drop in the U.S. dollar index this week is limiting selling interest in the precious metals. However, rising U.S. Treasury bond yields this week and a wobbly crude oil market are squelching the bulls. A lack of fresh, markets-moving economic or geopolitical news in mid-summer has metals traders languishing and looking more at the…