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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]

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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]

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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]

Gold has been a one-way bearish trade the entire overnight session as traders seem to be unwinding long positions on the back of weaker-than-expected Chinese data and an ongoing bounce in the dollar.

Some of the normal bullish gold catalysts have been completely discounted. Furthermore, Benjamin Netanyahu announced that Israel will now take 'indefinite' control over Gaza, and that has failed to give support to gold prices.

On the bullish side, China recorded a record gold holding this month with 71.2Mn ounces. What makes this data unique is the fact that Chinese FX reserves dropped sharply over the past three months, which normally signals weaker gold demand, as they dollar-cost-average their holdings...[MORE]

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Nov 7 (Reuters) - Gold fell to a near two-week low on Tuesday on a firmer dollar, with traders positioning for interest rate cues from a host of Federal Reserve speakers this week.

Spot gold fell 0.5% to $1,967.09 per ounce by 1050 GMT, its lowest since Oct. 25. U.S. gold futures dropped 0.8% to $1,973.50...[LINK]

Gold was down overnight as it tried to hold onto its October gains. As expected, Anthony Blinken left the Holy Land with no solutions or real support. But this political and military lull in the Middle East conflict has created a dull to slightly bearish trading environment for gold.

With the war lacking flight to quality type anxiety, traders will now start to turn their focus back to the Fed Chairman speech on Wednesday.

Despite two-sided volatility in the dollar last week and a range of 220 points, ultimately a downside breakout to the lowest level since September 20th is a major technical signal of a top in the dollar...[MORE]

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