Nov 13 (Reuters) - Gold prices steadied near a three-week low on Monday as investors awaited U.S. inflation data due this week to gauge the Federal Reserve’s interest rate path.
Spot gold was little changed at $1,936.67 per ounce, as of 1212 GMT. U.S. gold futures gained 0.2% to $1,940.60...[LINK]
The gold market simply remains fundamentally out of favor and has bearish charts again this morning.
While the selling yesterday was reportedly from the hawkish Fed chairman dialogue, that is unlikely the source of today's noted weakness as the gold market recovered and closed in positive territory yesterday after the Fed news yesterday.
Even though the gold market has not shown consistent interest in flight to quality issues, we see a major financial and economic market decision in the coming seven days...[MORE]
Please subscribe to receive the full report via email by clicking here.
Nov 10 (Reuters) -Gold fell on Friday and was bound for a second straight weekly drop on cooling safe-haven demand and hawkish cues from Federal Reserve Chair Powell.
Autocatalyst palladium, meanwhile, extended its slump en route to its worst week in over 15 months, hurt by excess stocks amid wider adoption of electric vehicles while automakers switch to cheaper platinum...[LINK]
Good morning. The precious metals are lower in early U.S. trading. U.S. calendar features Michigan Sentiment, Treasury Budget.
FedSpeak due from Logan and Bostic.
While the net takeaway from several US Federal Reserve speeches yesterday was not patently dovish, strength in treasury bond prices and signs the dollar rally is fizzling suggest some markets interpreted Fed news yesterday as dovish.
However, generally dovish chatter in the market has not provided gold with any support which clearly points to a bearish preference by the trade.
With an avalanche of global central banker speeches this morning and the Fed chairman yesterday indicating he thinks Fed economic forecasters need to be open-minded and consider inputs beyond typical indicators gold isn't even looking for bullish prospects...[MORE]
Please subscribe to receive the full report via email by clicking here.
Nov 9 (Reuters) -Gold was on track for a fourth straight day of decline on Thursday as safe-haven demand cooled, while the spotlight shifted to U.S. Federal Reserve Chair Jerome Powell’s speech for cues on interest rates.
Spot gold was down 0.1% at $1,948.39 per ounce by 1141 GMT after hitting its lowest since Oct. 18. U.S. gold futures fell 0.2% to $1,953.30...[LINK]
With the dollar posting a three-day high early today, gold lingering near yesterday's lows and holding below the 200-day moving average at $1982.90, the bear camp has extended control.
In fact, a notable Gold ETF holdings inflow yesterday of 136,494 ounces and news that the UK government is sanctioning two of Russia's largest gold producers (Nord Gold and Highland Gold) have been largely discounted by the financial Press this morning. In fact, the UK government indicated they are especially cracking down on Russian gold and oil networks that are providing funding for the Russian war economy!
Unfortunately for the bull camp typical bearish dollar developments are being discounted in the currency trade and perhaps more importantly the prospect of further declines in US treasury yields has been pushed to the sidelines by Dollar traders...[MORE]
Please subscribe to receive the full report via email by clicking here.
Nov 8 (Reuters) - Gold fell for a third straight session on Wednesday, with markets focusing on Federal Reserve Chair Jerome Powell's remarks, while auto-catalyst palladium extended its retreat to a five-year low.
Spot gold was down 0.3% at $1,961.70 per ounce by 1227 GMT. U.S. gold futures slipped 0.2% to $1,968.80...[LINK]