Blog posts tagged with 'gold'

The path of least resistance in gold is down with hawkish dialogue from the Chicago Fed President yesterday, November Swiss gold exports dropping 28% (mostly because the world's second-largest consumer India imported 67% less gold from Switzerland), and a lack of corrective action in the dollar following last weeks compacted rally.

However, an offset to the negative demand signals from declining Swiss gold exports is the fact that Chinese purchases from Switzerland increased by ten percent on 25 tons in sales versus the lower 16.4-tonne sales to India.

With both volume and open interest falling off and given the reversal from last week's highs, we suspect the bullish bias from last week has run its course...[MORE]

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Gold prices were subdued on Tuesday as a slight uptick in the dollar countered support from falling Treasury yields, while investors await U.S. economic data due this week that could further illuminate the Federal Reserve’s interest rate path.

Spot gold was steady at $2,026.30 per ounce. U.S. gold futures were also flat at $2,041.20...[MORE]

Despite a lack of direction in the dollar in the early going today, the gold market remains vulnerable on its charts but supported by global central bank dovishness.

While we suspect gold and silver will take a huge amount of direction from the dollar and from US treasuries there is a developing physical demand threat from ongoing malaise in the Chinese economy.

The struggling Chinese economy is partially verified by ongoing weakness in Chinese equity markets relative to the very impressive gains in global equity markets...[MORE]

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Gold prices climbed on Monday, buoyed by a weaker dollar and bond yields as markets awaited U.S. inflation data due this week to ascertain the Federal Reserve’s policy path after a dovish spin last week.

Spot gold was up 0.3% at $2,025.49 per ounce. U.S. gold futures were higher by 0.2% at $2,039.40...[LINK]

Despite a building overbought condition in gold and silver, prices continue to extend on the upside this morning in what we consider long-term fundamental-based investment trading.

Evidence of the bulls piling on the trade was seen overnight from Commerzbank predicting gold to reach $2150 in the second half of next year and silver to reach $30 per ounce by the end of next year.

As we have indicated in financial market coverage all week the magnitude of the anticipated pivot by the Fed, after a historic rate hike cycle obviously justifies a significant and sustained reaction in precious metal prices...[MORE]

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Gold prices were on track for a weekly jump, driven by a weaker U.S. dollar and lower Treasury yields, after the Federal Reserve indicated lower borrowing costs next year.

Spot gold, which edged up 0.3% at $2,041.70 per ounce, has risen 1.9% so far this week. U.S. gold futures gained 0.6% to $2,056.40...[LINK]