kinesismoneysytem

Gold and silver are tactical plays ahead of data storm, Powell's Senate testimony – Pepperstone Precious metals could be a tactical play ahead of a data storm in the next two weeks, including Federal Reserve Chair Jerome Powell's testimony before the U.S. Senate, said Pepperstone's head of research Chris Weston. It is getting harder to shock markets with higher-than-expected inflation numbers, and that reaction function is important for the gold market. "The failure of the EUR … to be overly…

Gold, silver gain on ideas of better future demand from China Gold and silver prices are higher in midday U.S. trading Tuesday, but down from daily highs as the U.S. dollar index has rebounded from solid early losses. Falling U.S. Treasury yields on this day are supporting the precious metals markets. Some potentially positive news coming out of China is also working in favor of the metals market bulls. December gold was last up $8.00 at $1,648.50 and December silver…

Will gold price benefit from classic bear market rally in equities? There is a new battle in the gold market as the precious metal continues to benefit from a weaker U.S. dollar and falling bond yields; however, shifting risk sentiment, as equity markets end their seven-week losing streak with a 6% rally, presents a new headwind for the precious metal. The gold market managed to hold steady around the critical psychological level of $1,850 this week as the U.S. dollar…

Gold posts solid gains for the week as market participants focus on the economy Gold prices closed higher on the day and the week resulting in solid gains. As of 5:50 PM, ET gold futures basis most active June contract is currently up $3.90 or 0.21% fixed at $1845.10. Considering that gold futures traded to a low this week of $1785 and closed near the highest value this week of $1848.60 gold had a good week. Gold pricing had been…