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Gold, silver surge as USDX sinks, U.S. Treasury yields slip Gold and silver prices are sharply higher in midday U.S. trading Thursday, boosted by a solidly lower U.S. dollar index and a dip in U.S. Treasury yields on this day. August gold was last up $24.60 at $1,983.00 and July silver was up $0.796 at $24.325. The marketplace is starting to zero in on next week's FOMC meeting of the Federal Reserve. The majority of the marketplace thinks the Fed…

Gold and silver prices look vulnerable as seasonal summer weakness kicks in – DeCarley Trading's Carley Garner The gold market has shown resilience with prices holding critical support around $1,950 an ounce even as the Federal Reserve is expected to maintain a tight grip on its monetary policy; however, despite the relative buoyancy in the marketplace, one strategist said that now is not the time. In an interview with Kitco News, Carley Garner, co-founder of the brokerage firm DeCarley Trading,…

The Federal Reserve will hold its 11th FOMC meeting since they began rate-hikes The Federal Reserve will begin its Federal Open Market Committee (FOMC) meeting exactly one week from today on Tuesday, June 13th. On the morning of the 13th, the government will release its latest report on inflationary pressures vis-à-vis the CPI (Consumer Price Index). This will be the last important piece of data that Fed officials will use to make their final decisions regarding monetary policy. While their…

Gold gains as USDX slips, crude oil rallies Gold prices are modestly up and silver a bit weaker in midday U.S. trading Monday. Both markets pushed well off their early session lows when the U.S. dollar index lost its good early gains and as crude oil prices rallied. August gold was last up $6.00 at $1,975.50 and July silver was down $0.092 at $23.655. Asian and European stock markets were mixed today. U.S. stock indexes are mixed near midday. Gains…

Central banks' gold holdings drop for the first time in over a year in April, says World Gold Council Global central bank gold holdings fell for the first time in more than a year in April, as Turkey sold over 80 tonnes of gold, the World Gold Council (WGC) said in a report. Total central bank gold reserves dropped by 71 tonnes in April. The last time central bank gold holdings declined was in March 2022, and the net drop…

Gold, silver gain on ideas FOMC will pause at next meeting Gold and silver prices are solidly higher in midday U.S. trading Thursday, amid a big U.S. economic data dump that culminates with Friday morning's U.S. jobs report. The precious metals are boosted today by ideas the Federal Reserve may pause in its interest-rate-hiking cycle. August gold was last up $15.80 at $1,997.90 and July silver was up $0.403 at $23.985. The Wall Street Journal reported today the Fed is…

Gold posts first loss in three months, but markets focus on Fed's 'hawkish pause'  The gold market posted its first monthly loss since February, wrapping May down about $36. As markets eye the crucial Congress vote to lift the debt ceiling, some Federal Reserve speakers are pushing for a "hawkish pause" at the June 13-14 meeting. The House of Representatives is set to vote on a bill to lift the $31.4 trillion debt limit on Wednesday – a critical step…

Gold gains as USDX weakens, U.S. bond yields dip Gold prices are solidly higher in midday U.S. trading Tuesday, supported by a weaker U.S. dollar index and a downtick in U.S. Treasury yields to start the U.S. trading week. The yellow metal hit a nine-week low overnight. Short covering in the futures market and some bargain buying in the cash were also featured today. August gold was last up $17.10 at $1,980.20 and July silver was down $0.015 at $23.34.…

U.S. economic data hammers gold price as markets gear up for a rate hike in June The gold market got battered by upbeat economic data and stubbornly high inflation. As gold posted its third weekly loss, markets recalibrated for another 25-basis-point rate hike in June after pause expectations got shattered. Gold is looking to close down $35 on the week, with June Comex gold futures last trading at $1,945.80 an ounce. Despite the selloff, year-to-date gold is still up more…

Gold/Silver: A breakdown in two-year treasury yields triggers the next bull market I wish everyone a Happy Memorial Day weekend and thank all of you for the positive feedback over the years, and it is an absolute pleasure to write for you all. Digging into the precious metals markets, we have been under pressure for most of May after the banking crisis became more of an isolated incident rather than the contagion effect everyone feared most. With that story fading…