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Gold/Silver – New breakout levels in Gold and Silver with your buy level in Platinum Precious Metals had a volatile week led by a fury of economic data that the Federal Reserve is closely monitoring. The upward surprise in the ADP figure on Thursday was enough to take Platinum, Palladium, and down 1.5-2%, pushing Platinum below the psychological $900 mark. Following the data release, the ISM Services number came in at 53.9 versus the expectation of 51.3 driving the odds…

Gold flirts with a record high after three days of consecutive gains Gold futures have traded almost $100 higher from Tuesday's open to today's intraday high. Gold opened at approximately $1990 on Tuesday and closed at approximately $2022 after factoring in a daily gain of over $30. Yesterday gold had a moderate gain moving the most active June contract to an intraday high of $2049 and closing at approximately $2037. However, today's range was the largest of the last 3…

Gold futures close above $2000 for the first time since March 2022 It has been just a little over one year ago that gold futures traded and closed above $2000 per ounce. On March 8, 2022 gold futures opened above $2000 per ounce, traded to a high of $2078 and closed at approximately $2043. Even though gold futures were able to close well above $2000, that price point was unsustainable. On the following day, March 9, 2022, gold opened at…

Gold, silver lifted by safe-haven demand, bullish charts Gold and silver prices are up at midday, but down from earlier levels that saw gold notch a six-month high and silver an eight-month peak. Safe-haven demand is featured to start the new year, along with technical buying amid bullish charts. Risk aversion is keener early this week as global stock markets remain wobbly amid concerns about weakening economic growth in 2023 for major industrialized countries. February gold was last up $17.50…

Retail investors see silver prices rallying more than 50% in 2023 to $38 an ounce Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023. (Kitco News) – The silver market is preparing to end 2022 on a strong note and bullish…

Gold, silver boosted by weaker greenback, bullish charts Gold and silver prices are higher in midday trading Thursday, supported by a sell-off in the U.S. dollar index on this day. Bullish near-term chart postures for both metals continue to invite the technically based speculators to the long sides. February gold was last up $7.10 at $1,823.10 and March silver was up $0.36 at $24.20. Global stock markets were flat to weaker overnight. U.S. stock indexes are solidly higher at midday.…

Gold price weighs incoming data and hawkish Fed comments as 2023 quickly approaches With just one week to go until 2023, gold is down just over 1% year-to-date after a very volatile year that saw the precious metal rise above $2,000 an ounce in the spring and hit lows near $1,630 an ounce in the fall. February Comex gold futures were looking to close Friday at around $1,809 an ounce, up 0.5% on the week. Gold may have put in…