Morning Call
Wednesday, May 31, 2023Good morning. The precious metals are mixed in early U.S. trading.
U.S. calendar features Chicago PMI, JOLTS Job Openings, Beige Book, Ag Prices.
FedSpeak due from Collins, Barker, Harkin, & Jefferson.
Good morning. The precious metals are mixed in early U.S. trading.
U.S. calendar features Chicago PMI, JOLTS Job Openings, Beige Book, Ag Prices.
FedSpeak due from Collins, Barker, Harkin, & Jefferson.
May 30 (Reuters) - Gold prices bounced back from their lowest level in more than two months on Tuesday as the dollar backtracked from highs, while lingering concerns over U.S. debt ceiling negotiations has kept investors on edge and rekindled demand for safe-haven bullion.
Spot gold rose 0.6% to $1,954.79 per ounce by 1045 GMT after hitting its lowest since March 17. U.S. gold futures were up 0.49% to $1,954.00...[LINK]
Even though August gold has recovered from a fresh low for the move overnight, the charts generally favor the bear camp.
According to some press outlets, gold is higher this morning because of a retrenchment in the dollar, but that retrenchment is insignificant early on with dollar charts retaining a bullish setup.
However, the parties to the debt ceiling negotiations appear to be so confident in their ability to strike a deal next week, that the President and Congress are leaving Washington for the holidays...[MORE]
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May 26 (Reuters) - Gold prices edged up from two-month lows on Friday, helped by a dip in the U.S. dollar as traders assessed the progress of U.S. debt ceiling negotiations and the Federal Reserve’s rate hike path ahead.
Spot gold was up 0.7% to $1,953.03 per ounce at 1002 GMT, while U.S. gold futures were up 0.5% to $1,952.90...[LINK]
May 24 (Reuters) - Gold edged up on Wednesday as the looming debt ceiling deadline prompted some safe-haven flows, while traders waited to scrutinise minutes of the Federal Reserve’s recent policy meeting for guidance on U.S. interest rates.
Spot gold was up 0.3% to $1,981.46 per ounce by 1215 GMT, while U.S. gold futures gained 0.5% to $1,984.30...[LINK]
(Reuters) - Gold prices extended losses on Tuesday, pressured as the U.S. dollar and Treasury yields strengthened on rising bets for higher interest rates, while markets awaited to see if lawmakers could avoid a debt ceiling default.
Spot gold fell 0.5% to $1,958.96 per ounce by 1123 GMT while U.S. gold futures were down 0.9% to $1,959.60...[LINK]