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Thursday's Charts for Gold, Silver and Platinum and Palladium, March 9 Kitco Commentaries | Opinions, Ideas and Markets Talk Featuring views and opinions written by market professionals, not staff journalists. Understanding the charts: Due to popular demand, we have added Palladium to the list of Analytical Charts that Metals Analyst Jim Wyckoff features. Sharpening Your Trading Skills: Using Bollinger Bands Sharpening Your Trading Skills: The MACD Indicator Sharpening Your Trading Skills: Moving Averages Sharpening Your Trading Skills: The Relative Strength…

Gold rallies on financial stability risks as investors rush to safety, analysts are watching inflation report, Fed reaction The gold market posted an unexpected weekly gain on potential contagion risks from the Silicon Valley Bank (SVB) meltdown. The precious metal is once again the safe-have trade, with investors rushing in after Friday's SVB collapse. California banking regulators moved quickly to close SVB Financial Group in what is the largest bank failure since the financial crisis. SVB was one of the…

Short covering, position evening in gold ahead of U.S. jobs data Gold prices are higher in midday U.S. trading Wednesday, with silver near steady. Short covering and some position squaring are featured in the precious metals futures markets just ahead of an important U.S. economic data point Friday morning. April gold was last up $13.20 at $1,831.70 and May silver was up $0.024 at $20.175. The general marketplace was quieter Thursday, ahead of the February U.S. employment situation report from…

Powell addresses House stressing data dependency before making decisions Today Chairman Jerome Powell finished his semiannual congressional testimony. The chairman warned that the Fed could be more aggressive because "The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated." In yesterday's testimony, he opened the door for a 50-BPS rate hike at the upcoming March FOMC meeting (March 21 – 22). "If the…

Gold, silver punished by still-hawkish Powell Gold and silver prices are sharply lower in midday U.S. trading Tuesday, as the metals market bulls are feeling the pressure of a still significantly hawkish U.S. central bank. April gold was last down $34.80 at $1,819.80 and May silver prices hit a five-month low and were last down $0.925 at $20.21. Focus of the marketplace today was on Fed Chairman Jerome Powell’s testimony on U.S. monetary policy to a Senate committee. Powell leaned…

Traders are cautious as reflected in fractional declines in gold and the dollar Market participants are trading cautiously with a wait-and-see attitude as this week contains multiple events that could have a deep impact on the financial markets across the board. Cautiousness is the overall demeanor of market sentiment as traders and investors await Chairman Powell's appearance before both the Senate and House beginning on Tuesday. This will be followed by the Labor Department's jobs report for February on Friday.…

Gold Price to New Heights ? Since its low in November 2022, the price of gold in dollars has climbed nearly +15% (compared to +4.5% in euros). The rising cost of gold production and the declining profitability of mining companies largely explain this movement. As early as November 2022, we were insisting on the strong probability of an effective gold reversal in 2023. This movement has now been confirmed. But will this rise be enough to drive new highs? Throughout…

Gold price to take direction from Powell's testimony, U.S. jobs report next week After five consecutive weeks of losses, the gold market posted its first weekly gain. Analysts say the precious metal will now take direction from the upcoming Federal Reserve Chair Jerome Powell's testimony and the February employment report. After testing the lows at $1,810 an ounce, gold bounced back to the mid-$1,800s range. At the time of writing, April Comex gold futures were at $1,852.70 an ounce, up…

Gold/Silver -he next bull wave begins It was a turning point for Precious Metals this week as Gold, Platinum, and Silver all rose after six straight down weeks. The rally came on the heels of a stronger U.S. Dollar and another cycle high in Treasury Yields. The physical buying this year has been robust, and once the Fed concludes hiking rates, news of the pivot will spark an additional buying frenzy. I expect Gold to take a forward-looking approach as…