kinesismoneysystem

Gold’s recent short-term trend is in a defined cycle – Rally, Consolidate, Repeat Gold has shifted gears from extended rallies followed by a multi-month correction to its current almost parabolic upside move. This move began during the first week of November and continues to this day. In fact, we are getting the first indications that the extended correction at least for now has concluded and a new stage has begun. The best way to describe the characteristics of this recent…

Gold advances on geopolitical trepidation as Russian missiles hit Poland Russia’s invasion of Ukraine has been escalating to accelerated levels of military action. According to sources in Ukraine and reported by Reuters news, “Russia rained missiles on cities across Ukraine on Tuesday in what Ukraine said was the heaviest wave of missile strikes in nearly nine months of war, echoing a pattern in recent weeks of Moscow lashing out far from the front after battlefield losses.” Today the Russian military…

Gold sharply up as USDX, U.S. bond yields plummet after cooler CPI Gold and silver prices are solidly higher in midday U.S. trading Thursday, with gold scoring a 2.5-month high and silver a 4.5-month high, following a U.S. inflation report that came in just a bit cooler than market expectations and in turn pushed the U.S. dollar index and U.S. Treasury yields sharply lower. December gold was last up $38.60 at $1,737.90 and December silver was up $0.323 at $21.66.…

Gold price surges $50, should investors be selling into the rally? Gold prices surged nearly $50 on Friday as the latest U.S. jobs report clarified some of the Federal Reserve's mixed messages, and China signaled a possible easing of its Covid-Zero policy. But caution is still advised as all previous quick rallies have been used as selling opportunities. Gold has had a spectacular start to November after reporting the longest streak of monthly losses in more than five decades. The…

Gold price sharply up after "Goldilocks" U.S. jobs report Gold and silver prices are sharply higher in early U.S. trading Friday, boosted by a U.S. jobs report that landed in the sweet spot of marketplace expectations for the report. Silver prices notched a three-week high. Strong gains in crude oil prices and a weaker U.S. dollar index are also bullish outside market forces for the metals on this day. Short covering by futures traders is featured in both precious metals…

Gold, silver down amid strong greenback, rising bond yields Gold and silver prices are lower in midday U.S. trading Thursday, with gold hitting a six-week low in overnight dealings. Silver prices have rebounded well off daily lows. Very sharp gains in the U.S. dollar index and rising U.S. Treasury yields, along with lower crude oil prices, pressured the precious metals markets today. December gold was last down $22.20 at $1,627.80 and December silver was down $0.239 at $19.36. A still-hawkish…

Gold prices move near session highs as Federal Reserve raises interest rates 75 basis points The gold market is seeing some new buying momentum as the Federal Reserve looks to slightly adjust its aggressive monetary policy stance. In a widely anticipated move, the Federal Reserve raised its Fed Funds rate by 75 basis points. This is the fourth consecutive supersized rate hike this year. While the central bank remains focused on bringing inflation down, it does appear to be adjusting…

Gold – Caution still warranted The bear market rally currently transpiring in stocks has momentum on its side, with the upper range target at the cross-section between the upper resistance line and the 50-week moving average as the standing target. The below chart is an update of the S&P futures chart on a weekly basis; note the stochastic RSI looks like it wants to reach all the way to overbought as well. Although Thursday’s action in gold looked constructive for…

Price pressure on gold, silver as USDX, bond yields rebound Gold and silver prices are moderately down in early U.S. trading Friday, once again falling victim to a higher U.S. dollar index and rising U.S. Treasury yields to end the trading week. December gold was last down $10.90 at $1,654.60 and December silver was down $0.199 at $19.29. The geopolitical front is far from calm at present. However, there have been no major, new developments to shake up the marketplace.…

Gold market sees muddle sentiment, but price needs to hold above $1,620 next week Once again, gold is poised on a knife's edge as the prices end the week below $1,650 an ounce, and muddled market sentiment is unlikely to provide any clear direction for the precious metal next week. Latest Kitco News Gold Survey shows that bullish analysts and retail investors have a slight advantage; however, there is no dominant conviction in the marketplace. According to some analysts, many…