Blog posts tagged with 'precious metals'

While the recovery in the dollar is not significant this morning, and the slide in treasuries has not resulted in higher highs in (an upside breakout) in treasury yields, outside forces have clearly shifted back in favor of the bear camp.

Apparently, China released its manufacturing PMI readings for September overnight which countervailed recent signs of green shoots and a measure of optimism that was associated with the upcoming extended holiday.

Once again, the US Congress "kicked the debt problem down the road" with a continuing resolution pushing the threat into mid-November...[MORE] 

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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]

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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Sep 27 (Reuters) - Gold fell to its lowest in over a month on Wednesday on the dollar’s ascent as markets braced for the prospect of interest rates staying elevated for longer.

Spot gold was down 0.3% at $1,895.13 per ounce by 0932 GMT, its lowest level since Aug. 22. U.S. gold futures eased 0.3% to $1,913.30...[LINK]

With the dollar posting another higher high for the move and approaching the 106.00 level, currency pressure on gold and silver continues to increase.

However, yesterday gold and silver showed they could avoid wholesale liquidations, but further pressure today could result in a fresh wave of stop-loss selling.

While the higher for longer interest rate mantra remains on the back of most markets the markets will be presented with a series of US housing price and sales readings today which have been showing signs of softening that could temporarily undermine the dollar...[MORE]

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