markethive

They’re back, gold bulls return with a mission, to take gold higher They’re back! Beginning at the end of March, when gold bulls witnessed gold prices continue to trade lower, hitting a bottom at $1640 there was an air of pessimism that surrounded them. Although gold began to trade-off of those lows by the end of March, gold retested the lows at that price point creating a double bottom. Considering that the market had been in a deep and defined…

Gold prices today jump again, cross key level – silver rates surge Gold rates today: On MCX, prices were near ₹48,000 per 10 gram Gold rates today: On MCX, prices were near ₹48,000 per 10 gram In global markets, gold rates today hit a 3-month high Weaker US dollar and a dip in Treasury yields boosted gold and silver Gold and silver prices in India moved higher today, in tandem with uptick in global precious metal rates. On MCX, gold…

Silver's on the move, and gold better hang on! Another great week to be long this "Commodities Super-Cycle" as multiple commodities broke out to new contract highs. If you have been reading our daily note called the "Morning Express," you would already know that the rising commodity prices front runs the inflation data making it essential to keep adding incrementally on corrections to commodities. My recommendation would be to focus mainly on energies and industrial metals. The explosive CPI data…

Gold has the 'green light' as inflation heats up analysts look for break above $1,850 Analysts are still watching gold's $1,850 level closely as inflation pressures start to heat. Still, the uncertain economic outlook forces the Federal Reserve to remain patient and maintain its ultra-loose monetary policies. Analysts have said that gold is in a sweet spot as more investors look for an inflation hedge. The renewed interest in gold comes after annual U.S. CPI rose 4.2% last month, its…

LBMA overstates silver inventories, gold price stalls despite record inflation, what’s going on? Bullion Market Association (LBMA) overstated their silver holdings in April, an error which they later rectified. Previously, they had reported 1.15 billion Troy ounces of silver in stock, when in fact the correct figure is 1.14 billion Troy ounces. In a statement released to Kitco News, the LBMA stated that “The incorrect information regarding March silver stocks, which has now been amended, arose from an incorrect data…

Gold scores fractional gains even though the dollar recovered from the lows of the day As of 5:15 PM EST, the most active June 2021 contract is currently fixed at $1838.40, which is a fractional gain of $0.80 on the day. However, the real news in trading today was the intraday low that came in at $1817.80 before recovering over $20 to close with modest gains on the day. Gold made a trade to a lower high than yesterday, but…

Gold price sees best week in 6 months

Gold, silver power higher amid improving chart postures, weak USDX Gold and silver prices are sharply higher and hit 10- and nine-week highs, respectively, in midday U.S. trading Thursday. The metals were lifted in part by a more bullish technical picture for both, a lower U.S. dollar index and U.S. Treasury bond yields backing off a bit from this week’s highs. June gold futures were last up $32.00 at $1,816.30 and July Comex silver was last up $1.023 at $27.55…

Gold and silver trade lower overnight leading into the European open Gold and silver are trading marginally lower leading into the European open after a dismal session on Tuesday. Hawkish comments from Janet Yellen sent the yellow metal lower to trade -0.77% in the red during yesterday's session. Silver also moved -1.47% in the red and trades at $2635/oz this morning. Japanese, Chinese, and South Korean markets were still closed due to public holiday's but the ASX rose 0.39% despite…