kinesismoneysystem

Gold/platinum/silver – Is the bottom in? Every bear market ends, and a bull market begins with a short covering rally. Whether you use fundamental or technical analysis, the end result is the same with a change of direction. Since the March peak, Platinum has been trending lower for four months and is finally showing signs of a potential bottom. Thursday's trading range helped create the right shoulder of an inverse head and shoulder pattern. The consolidation over the past four…

Will gold survive another 75 basis point hike The gold market is ending a five-week losing streak and while sentiment appears to be shifting, some analysts say that the precious metal still faces a challenging environment next week. August gold futures are looking to end the week with a more than 1% gain, last trading at $1,721.40 an ounce. All eyes will be on the Federal Reserve next week as markets expect the U.S. central bank to raise interest rates…

The Fed will 'abandon' tightening, causing gold to soar higher – Rich Checkan Gold's performance has been tumultuous this year, with the war in Ukraine sending the metal above $2,000 per ounce. Recently, however, gold has fallen in price, and is down year-to-date by 7.8 percent. Spot gold is currently trading at $1,725. Speaking with Michelle Makori, Editor-in-Chief and Lead Anchor at Kitco News, Rich Checkan, President and Co-Founder at Assets Strategies International, said, "people want to know why gold…

Gold rebounds as ECB gets aggressive, crude pares losses, USDX down Gold prices are moderately up in midday U.S. trading Thursday, on a short-covering and bargain-hunting bounce after prices hit a 15-month low overnight. Gold prices were also boosted today by crude oil paring sharp early losses, a dip in U.S. Treasury yields and a weaker U.S. dollar index. August gold futures were last up $9.60 at $1,709.60. September Comex silver futures were last up $0.002 at $18.67 an ounce.…

Gold weaker – "volatility collapse" portends bigger price move soon Gold prices are modestly lower in midday U.S. trading Wednesday, in more subdued mid-summer trading. However, there has been a “collapse in volatility” on the daily bar chart, which suggests a significantly bigger price move is on the horizon in gold—possibly yet this week. Given that gold prices are trending lower on the daily chart, odds favor that bigger price move being on the downside. Improved trader/investor risk appetite this…

Gold, silver near steady – new fundamental inputs awaited Gold and silver prices are trading not far from unchanged in midday U.S. trading Tuesday. A big drop in the U.S. dollar index this week is limiting selling interest in the precious metals. However, rising U.S. Treasury bond yields this week and a wobbly crude oil market are squelching the bulls. A lack of fresh, markets-moving economic or geopolitical news in mid-summer has metals traders languishing and looking more at the…

Gold prices are trading not far from unchanged and near this week’s 11-month low in early U.S. trading Friday. Silver prices are firmer on short covering after hitting a two-year low this week. Bullish outside market forces on this day are friendly for the metals, as the U.S. dollar index is lower, crude oil prices are firmer and bond yields have backed off a bit. However, the overall postures of those three key elements still lean bearish for the metals…

Gold price holding support at $1,700 as U.S. retail sales rise 1% in June The gold market is holding support at $1,700 as U.S. consumers appear to be on solid footing, buying more than expected in June. U.S. retail sales advanced 1.0% last month following a upwardly revised drop of 0.1% in May, according to the latest data from the U.S. Commerce Department. Economists were expecting to see a rise of 0.9% in last month’s headline number. Core sales, which…

Will $1700 become a sustainable support level for gold? Over the two trading days gold futures have traded below $1700 (marked X) and, on both occasions, recovered closing above that case psychological level. So, it is not illogical to wonder whether or not this price point will become a sustainable level of support or simply a pause before gold heads to lower prices. Historically speaking the last time gold traded below $1700 occurred on August 9, 2021, the day of…

British Royal Mint sees gold bullion sales increase 8% in Q2, silver sales jump 47% The paper gold market has struggled to find consistent bullish momentum as prices dropped nearly 7% between April and June. However, the physical market saw solid growth, according to the latest report from the Royal Mint. Thursday, the British mint said that sales of its gold bullion coins increased by 8% quarter-over-quarter. At the same time, silver bullion sales increased 47% compared to the sales…