Oct 2 (Reuters) - Gold fell 1% on Monday, languishing near seven-month lows to kick off the last quarter of the year, as a stronger U.S. dollar and prospects of interest rates staying higher for longer erode bullion’s appeal.
Spot gold was down 0.9% by 0933 GMT to $1,831.81 per ounce, its lowest since March 10. U.S. gold futures slipped 1% to $1,847.50...[LINK]
While gold and silver prices are tracking higher early today, their fortunes remain inversely locked with the dollar and treasuries.
Technicians can look to sell this bounce after it has had a chance to unfold for a couple of sessions. In fact, perhaps gold will finally garner some sustained flight to quality buying if Congress scares the world and raises the US deficit again.
Rating agencies have already warned of additional downgrades which will further the US government's financial crisis...[MORE]
Sep 29 (Reuters) - Gold prices edged up on Friday as a rally in the U.S. dollar and Treasury yields stalled, but was on track for monthly and quarterly declines on increased hopes that the U.S. Federal Reserve would keep interest rates higher for longer.
Spot gold rose 0.2% to $1,867.80 per ounce by 1148 GMT. U.S. gold futures gained 0.4% to $1,885.10...[LINK]
While December gold has avoided a fresh lower low in the early Thursday trade the path of least resistance remains down with outside market forces firmly anchored in the bear camp.
Unfortunately for the bull camp, the markets will face another critical US initial claims reading, with last week's reading posting the lowest weekly claims since early February!
At present, analyzing the gold market has become simplistic with unending strength in the dollar dominating the gold market...[MORE]
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Sep 28 (Reuters) - Gold prices were subdued on Thursday, having slid to their lowest in about six months in the last session, as an elevated U.S. dollar and Treasury yields continued to exert pressure on the non-yielding metal.
Spot gold was steady at $1,874.29 per ounce by 0939 GMT, hovering near its lowest level since March 13 hit on Wednesday. U.S. gold futures traded at $1,891.30...[LINK]
Sep 28 (Reuters) - Gold prices were subdued on Thursday, having slid to their lowest in about six months in the last session, as an elevated U.S. dollar and Treasury yields continued to exert pressure on the non-yielding metal.
Spot gold was steady at $1,874.29 per ounce by 0939 GMT, hovering near its lowest level since March 13 hit on Wednesday. U.S. gold futures traded at $1,891.30...[LINK]
Another new high in the dollar equals another new low in gold and ongoing but less significant pressure on silver.
In addition to the cascading pressure from the strengthening dollar, both gold and silver continue to see an exodus of investment from ETF holdings.
Yesterday gold ETF holdings declined by 66,197 ounces and silver holdings declined by 1.26 million ounces, leaving net sales this year in gold at 5.15 million ounces and net sales of silver this year at 28.2 million ounces...[MORE]
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