Gold continues to gain value and inches closer to 1900

Gold continues to gain value and inches closer to $1,900 The market forces and events which have taken gold to higher pricing since the end of March are still dominantly in play. The two primary forces are dollar weakness and data indicating an uptick in inflation. These two factors greatly affect treasury yields and in turn treasury yields affect bullish or bearish sentiment in gold. Recently the U.S. Labor Department showed that the consumer price index jumped to 4.2% in…

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What’s next for gold price after ‘game-changing’ week?

What's next for gold price after 'game-changing' week? This week was a "game-changer" for gold as prices climbed towards the $1,900 an ounce level while the rest of the markets saw chaotic trading, according to analysts. After a massive selloff in the crypto space, gold's appeal is back on the radar for many investors, including new institutional money, OANDA senior market analyst Edward Moya told Kitco News. "This was one of those weeks that was a game-changer for many traders.…

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Bitcoin price loss is gold’s gain and that is good for junior explorers too – David Erfle

Bitcoin price loss is gold's gain and that is good for junior explorers too – David Erfle Once again, the gold market has regained its luster as investors moved back into the precious metal and out of volatile cryptocurrencies. With gold price ending the week above $1,850 an ounce, junior explorers should start to see price movements, according to David Erfle, founder of juniorminerjunky.com. This week on Kitco Roundtable, Erfle said that the slow start to the year for the…

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A Golden Cross could be forthcoming between the 50-day EMA and the 100-day EMA

A Golden Cross could be forthcoming between the 50-day EMA and the 100-day EMA To paraphrase Investopedia, the golden cross is a chart pattern. A bullish signal in which a market's moving average moves above a longer-term moving average. The golden cross is a bullish breakout pattern formed from a crossover involving a short-term moving average (such as the 50-day moving average) breaking above a longer-term moving average (such as the 100-day moving average). As long-term indicators carry more weight…

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Gold and silver are trading higher leading into the European open Both gold and silver are trading higher leading into the European open The yellow metal is 019 up trading at 187390oz while silver has pushed 025 higher to trade at 2778oz In th

Gold and silver are trading higher leading into the European open Both gold and silver are trading higher leading into the European open. The yellow metal is 0.19% up trading at $1873.90/oz while silver has pushed 0.25% higher to trade at $27.78/oz. In the rest of the commodities complex, copper is 0.82% higher and spot WTI is trading just over half a percent in the black. Decent manufacturing numbers so far but the U.K. shines brightest The manufacturing PMI's across…

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Gold and silver are trading higher leading into the European open

Gold and silver are trading higher leading into the European open Both gold and silver are trading higher leading into the European open. The yellow metal is 0.19% up trading at $1873.90/oz while silver has pushed 0.25% higher to trade at $27.78/oz. In the rest of the commodities complex, copper is 0.82% higher and spot WTI is trading just over half a percent in the black. The risk sentiment overnight improved somewhat after a couple of days of selling. The…

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Gold pulled back slightly from a 14-month high as prices hit a key chart resistance level

Gold pulled back slightly from a 14-month high as prices hit a key chart resistance level A weaker US Dollar and heightened inflationary pressure are buoying the appeal of precious metals XAU/USD may see a minor pullback as prices hit the ceiling of an “Ascending Channel” Gold prices retreated slightly during Wednesday’s Asia-Pacific trade after reaching a 14-month high. The recent surge in prices rendered the precious metal vulnerable to profit-taking at key chart resistance at $1,875. Meanwhile, traders await…

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They’re back gold bulls return with a mission to take gold higher

They’re back, gold bulls return with a mission, to take gold higher They’re back! Beginning at the end of March, when gold bulls witnessed gold prices continue to trade lower, hitting a bottom at $1640 there was an air of pessimism that surrounded them. Although gold began to trade-off of those lows by the end of March, gold retested the lows at that price point creating a double bottom. Considering that the market had been in a deep and defined…

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Gold prices today jump again cross key level – silver rates surge

Gold prices today jump again, cross key level – silver rates surge Gold rates today: On MCX, prices were near ₹48,000 per 10 gram Gold rates today: On MCX, prices were near ₹48,000 per 10 gram In global markets, gold rates today hit a 3-month high Weaker US dollar and a dip in Treasury yields boosted gold and silver Gold and silver prices in India moved higher today, in tandem with uptick in global precious metal rates. On MCX, gold…

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Silver’s on the move and gold better hang on

Silver's on the move, and gold better hang on! Another great week to be long this "Commodities Super-Cycle" as multiple commodities broke out to new contract highs. If you have been reading our daily note called the "Morning Express," you would already know that the rising commodity prices front runs the inflation data making it essential to keep adding incrementally on corrections to commodities. My recommendation would be to focus mainly on energies and industrial metals. The explosive CPI data…

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