Gold and silver slide lower leading into the EU open Gold and silver are starting the EU session in the red after falling in the Asia Pac session. The yellow metal is down -0.26% while silver trades nearly 1% in the red below the $25/oz psychological handle. It was not much better in the rest of the commodities complex as copper lost 1% of its value and spot WTI fell 1.77%. The risk sentiment overnight was mixed as the Nikkei…
What's the catalyst to take gold price to $1,900? Now that gold is sitting comfortably above $1,700 an ounce, is it ready for liftoff towards $1,900? Analysts remain optimistic but say that the precious metal needs a new catalyst to get it there. After an eventful week, gold managed to stay above $1,720 an ounce. The precious metal even attempted to break the key resistance level of $1,750 on Thursday. And even though the move up failed, June Comex gold…
Gold price fails attack on $1,750 as Fed's Powell hints tapering Gold shot up to a one-week high as it attempted to break the key resistance level at $1,750 an ounce after Federal Reserve Chair Jerome Powell praised economic progress and hinted at potential rollback of asset purchases. "As we make substantial further progress toward our goals, we'll gradually roll back the amount of Treasurys and mortgage-backed securities we've bought," Powell told NPR's Morning Edition in a live interview. "We…
Gold and silver trade flat leading into the EU open Gold and silver are trading flat this morning leading into the EU open. Gold is trading at $1727/oz while silver has moved near the psychological $25/oz area. Risk sentiment overnight was mostly weak following the weak handover from the US. The Nikkei 225 (-2.04%) and Shanghai Composite (-1.30%) moved lower while the ASX closed 0.50% in the black. In FX markets, it was the dollar that outperformed overnight. The weakest…
Gold and silver trade marginally lower leading into the EU open Once again gold and silver trade lower this morning but only marginally. The yellow metal is just under flat at $1737/oz while silver over around half a percent into the red at $25.64/oz. After inheriting a positive close from Wall Street, the bourses in the Asia Pac area struggled. The Nikkei 225 (-0.61%), ASX (-0.11%) and Shanghai Composite (-0.93%) all closed in negative territory. In FX markets, the dollar…
Can the government confiscate your gold? E.B. Tucker on 'the war against your wealth' Ray Dalio, co-chief investment officer of Bridgewater Associates, recently wrote that policy makers short on money will likely raise taxes and prevent capital flows into “other assets” like gold and Bitcoin. E.B. Tucker, director of Metalla Royalty and author of “Why Gold, Why Now” said that the government already has the tools to do this. “Everyone gets this idea that the [government] will raid your house…
Gold, silver, platinum and palladium are 'a form of currency' Mar 20, 2021 Guest(s): Anna Golubova Social Media Reporter A lot has happened in the gold space this week. And the tides may finally be turning for the precious metals. Here's a breakdown of the top three stories. Start Using Gold and Silver as Currency with Kinesis David
Bullish sentiment in gold is growing but focus remains on rising bond yields Sentiment continues to improve in the gold market among both Wall Street analysts and Main Street investors. However, there is some concern that rising bond yields will cap gold at critical resistance below $1,750 in the near-term. "Gold has had a nice bounce from its recent lows, but this just could be a short-term correction as prices appear to be contained as inflation still isn't a major…
Traders continue to bid yields higher in spite of the Federal Reserve statement “There’s something happening here, what it is ain’t exactly clear” – Stephen Stills Immediately following the conclusion of the FOMC meeting yesterday, we saw gold stage a strong rally moving from roughly unchanged to close higher by double digits. Many analysts interpreted the gains as a direct result of the Federal Reserve statement, which included the most current “dot plot,” indicating that interest rates most likely will…
Gold and silver are mixed heading into the EU open Gold and silver are trading mixed this morning with the yellow metal trading 0.29% down and silver moving 0.54% in the black. Gold has been impacted by some strength in the greenback today as the DXY trades 0.10% higher overnight. The US dollar is not up against all the major currencies with AUD, NZD and CAD all performing well. After inheriting a positive close from the US, the Nikkei 225…