kinesismoneysystem

Reversals across many markets, while gold remained resilient This week the Federal Reserve addressed revisions to its current monetary policy in its attempt to reduce the current levels of inflation to an acceptable target. The statement released after the FOMC meeting, coupled with Chairman Powell’s press conference, resulted in extreme volatility in many financial sectors. Market participants witnessed one of the strongest knee-jerk reactions and complete market sentiment reversal over 24 hours. The initial market sentiment was extremely short-lived as…

Gold firmer but loses altitude as USDX, bond yields spike up Gold prices are posting modest gains in midday U.S. trading Thursday but the bulls are fading fast after solid early gains have been erased. The precious metals markets are being buffeted today by strong gains in the U.S. dollar index and a big spike up in U.S. Treasury yields. June gold futures were last up $5.70 at $1,874.30 and May Comex silver was last down $0.037 at $22.33 an…

Gold, silver see tepid short covering after recent losses Gold and silver prices are firmer in midday U.S. Trading Tuesday. Short covering by the shorter-term futures traders was feature today after both metals hit 2.5-month lows on Monday. The bulls are trying to stop the bleeding in down-trending markets that have been punished by a strong U.S. dollar and rising bond yields. June gold futures were last up $7.50 at $1,871.10 and May Comex silver was last up $0.101 at…

Gold, silver smacked by strong USDX, rising bond yields, technical selling Gold and silver prices are sharply lower in midday U.S. Trading Monday, with both scoring 2.5-month lows. The precious metals are getting hit early this week by the bearish outside market forces of a strong U.S. dollar index that is near a 20-year high, higher U.S. Treasury yields and chart-based selling pressure as the near-term technical have eroded significantly the past two weeks. June gold futures were last down…

A massive destruction of wealth is coming, this is what the Fed is 'engineering' – Alfonso Peccatiello Attempting to slow down the economy and subdue inflation, the Federal Reserve has already raised interest rates by 25 basis points and is expected to raise rates by 50 basis points at each of its next two meetings in May and June. "Right now, the wealth effect still dominates the way we engineer economic growth to make sure the balance sheets of consumers…

What's in store for gold price as Fed remains laser-focused on inflation and its supersized hikes? The gold market will be wrapped up in the Federal Reserve's interest rate decision next week as analysts see the U.S. central bank ignoring the steep drop in the U.S. Q1 GDP data and remaining fixated on fighting inflation. Gold is looking to end April down 1.7% on the month despite Friday's gains. June Comex gold futures were last trading at $1,912.20, up $21…

Gold bounces off yesterday’s lows but is unable on to hold today’s highs June 2022 gold futures opened this morning (4/29/2022) at $1895.80, far above yesterday’s low of $1871. Trading to a high of $1921.30 and settled in New York up 1.1% at $1911.70. However, on Fridays, Globex trading remains open until 6 PM EDT before closing for the weekend. As of 5:10 EDT gold has moved back below $1900 and is currently fixed at $1896.90 a net gain of…

Western and Eastern technical studies suggest a bullish reversal in gold has occurred Gold traded to its lowest value in the last nine trading days with market forces taking the June 2022 futures contract to $1870.90 this morning. After opening at $1886.80, gold futures drifted lower and then recovered strongly. As of 4:30 PM EDT, the most active June 2022 gold contract is fixed at $1896.20 which is a net gain of $7.50. More importantly if it finishes this Globex…

Gold firms as investors digest China, inflation, and global economic contraction Gold futures opened at $1899.60, traded to a low of $1896.30, and then recovered back above $1900 per ounce. As of 4:18 PM EDT gold futures basis, the most active June 2022 contract is currently trading up $9.30 and fixed at $1905.30. Gold’s reversal from its price decline over the last seven trading days is being supported by multiple factors and events. Most evident is renewed concern by investors…

Gold, silver plummet as raw commodity sector pounded on Covid fears Gold and silver prices are sharply down and hit two-month lows in midday U.S. trading Monday. Gold dropped below the psychologically important $1,900 level. The entire raw commodity sector was hit hard today by concerns regarding demand as Covid cases in China, the world’s second-largest economy, are spreading rapidly. Serious near-term technical damage was inflicted in gold and silver today, which has emboldened the chart-based bears. June gold futures…