kinesismoneysystem

Gold price down but not out as Federal Reserve starts tightening cycle and lowers 2022 growth forecast and raises inflation expectations The gold market remains under selling pressure but has pushed off its session lows as the Federal Reserve starts a new tightening cycle even as it lowers its growth forecasts and raises its inflation outlook. As expected, the Federal Reserve raised interest rates by 25 basis points, increasing the range to between 0.25 and 0.50%. Gold prices were testing…

Gold trades under pressure but currently holding the 38.2% retracement as support As of 3:30 PM, EST gold is trading off by $29.20, or 1.46%, with the April 2022 Comex contract currently fixed at $1956.00. On a technical basis, today’s low of $1952 is just below the 38.2% Fibonacci retracement, which is currently at $1953.80. The data set used for this retracement begins at the low created in December 2021 when gold hit $1752.60 and began a dynamic rally which…

Gold, oil open lower On Sunday open spot gold dropped $20 hitting $1,970 a ounce. Oil was down, too, with Brent crude off 0.87% to $111.7 a barrel. April gold futures last traded at $1,979.3 an ounce, down 0.29%. Hong Kong's Hang Seng index opened lower, down 1.61% on Monday local time. Major action in the Ukraine-Russia war over the weekend was a Ukrainian base near Poland getting hit by cruise missiles fired by Russia. Thirty-five people were killed, and…

What's next for gold price after making a run for record highs? Fed, Ukraine updates on deck The Federal Reserve's interest rate decision and developments in Ukraine will dominate gold's price direction next week after the precious metal made a run for record highs. Gold rallied on its safe-haven appeal this week as sanctions against Russia were stepped up to import bans and the war in Ukraine escalated, creating chaos in the commodities space. April Comex gold futures were last…

Gold corrects after unsuccessfully challenging its record high On Tuesday, March 8, gold traded to an intraday high of $2078, roughly $10 below the all-time high of $2088, which was achieved in August 2020. The current decline in gold is the first real price decline since January when gold hit a low of approximately $1780. Until Tuesday of this week, what followed in February was a dynamic rally resulting in gold gaining approximately $300 when gold traded to $2078. On…

Gold challenges record high but declines after hitting a high of $2078.80 Today gold spiked with a massive gain of $82, taking gold futures within $10 of the record high at $2088, which occurred in August 2020. Just as quickly as gold rose dramatically higher profit-taking and a recovery of U.S. equities resulted in gold trading off of the highs giving up over half of the gains from the intraday high. New York's trading session just ended, and as of…

'Tremendous momentum' in gold price -Watch out for next week's U.S. inflation number as geopolitics continue to drive metals (Kitco News) There is strong momentum in the gold space as investors repositioned themselves going into another uncertain weekend with all eyes on Russia's intensified attack on Ukraine. Gold gained more than $35 on Friday as Russian forces took control over Europe's biggest nuclear power plant in Ukraine in a very alarming assault. "Unfortunately, there are no signs that you are going…

Inflation and the crisis in Ukraine cause gold to surge, now only $27 away from $2,000 Gold prices have been moving to a higher value at a pace not witnessed in quite some time. On Monday, gold futures basis most active April 2022 contract opened at $1920 and closed at $1900 after recovering from a low of $1893. On Tuesday gold prices gained over $40 and accelerated the defined uptrend that began the first week of January. The rally has…