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Is gold price in a bull trap? 'December is the hardest month to trade' – analysts The gold market has responded very well to a more aggressive Federal Reserve tightening stance, rising around $40 since Wednesday. But what's next will be critical, according to analysts. After the precious metal breached the $1,800 an ounce this week, the next important signal will be what gold does at this strong resistance level. Gold rose post-Fed announcement, which saw its tapering schedule accelerated…

Gold is unable to hold $1800 after trading to a high of $1815 For the better part of the last 24 hours of trading, gold pricing has managed to trade above $1800. Gold futures traded to an intraday high today of $1815.70. However, with only 45 minutes left in Globex trading (New York trading has already closed) gold futures basis, the most active February 2021 Comex contract is trading up by $0.70 (+0.04%) and fixed at $1798.90. Over the last…

Gold, silver sharply up as USDX sinks, oil rallies, bond yields stable Gold and silver prices are posting strong gains in midday U.S. trading Thursday. The metals market traders on this day reckoned rising inflation prospects are bullish, as is shown by market history. A lower U.S. dollar index today, higher crude oil prices and stable U.S. Treasury yields are also friendly for the precious metals bulls. The safe-haven metals rallyied today despite upbeat trader and investor risk appetite late…

How high can gold & silver go in 2022? Rates to rise, here's the impact on markets – Gary Wagner The Federal Open Market Committee has announced a doubling in the pace of asset tapering on Wednesday. The Dot Plots indicate that there will be an average of three rate hikes in 2022, three more in 2023, and two in 2024, all in increments of 25 basis points. Gary Wagner, editor of TheGoldForecast.com discusses with David Lin, anchor for Kitco…

Gold prices moving higher after U.S. CPI rises 6.8%, biggest jump since 1982 Gold prices are pushing higher, following a stronger-than-expected rise in U.S. consumer prices. Friday, the U.S. Labor Department said its U.S. Consumer Price Index rose 0.8% in November, after a 0.9% rise in October. The data beat consensus forecasts as economists were forecasting a 0.7% rise. For the year, the report said that headline inflation rose 6.8%. The report said this is the "largest 12-month increase since…

Market participants await the November CPI inflation numbers Tomorrow the U.S. Bureau of Labor Statistics will release the inflationary numbers vis-à-vis the CPI index. This report will be a critical component that the Federal Reserve will review before releasing its adjusted monetary policy. On Wednesday of next week, the Federal Reserve will release the statement including the revised dot plot and a press conference by Chairman Jerome Powell. Bob Haberkorn, senior market strategist at RJO Futures said, “The stronger-than-expected jobless…

Gold has been 'shockingly stable': It's a long-term play as U.S. dollar rolls over, says Jeffrey Gundlach Billionaire "Bond King" Jeffrey Gundlach sees inflation not returning below the 4% handle next year, and bond markets are already "sniffing out a weaker economy" coming. For gold, this means a long-term hold after a "shockingly stable" and "boring" year. There are "rough waters" ahead for the financial markets in 2022 as the Federal Reserve looks to accelerate its tapering schedule and raise…

Gold price near steady as risk appetite growing Gold prices are trading not far from unchanged in early U.S. dealings Wednesday. Buying interest is being limited in safe-haven gold and silver as trader and investor risk appetite seems to be growing keener by the day. However, selling interest in the metals is being squelched by the big rebound in crude oil prices recently, which suggests "black gold" and the leader of the raw commodity sector has put in at least…

Gold slightly up as crude oil rallies Gold prices are up just a bit in midday U.S. trading Monday. Solid gains in crude oil prices to start the trading week (bullish) are slightly trumping better trader/investor risk attitudes (bearish). February gold was last up $1.50 at $1,785.40 and March Comex silver was last down $0.136 at $22.34 an ounce. It was a quieter trading day Monday. Global stock markets were mixed to firmer. U.S. stock indexes are higher at midday.…

Gold starts the session flat heading into the European open Gold is trading 0.08% higher leading into the European open at $1784/oz. On the contrary, silver has fallen 0.44% and starts the session at $22.44/oz. In the rest of the commodities complex, copper is trading just under flat, while spot WTI is up around 2%. On the risk side, the Nikkei 225 (-0.36%) and Shanghai Composite (-0.50%) fell overnight, while the ASX (0.05%) managed to keep its head above water.…