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While the headlines overnight from the press suggest that gold and silver prices are higher this morning off speculation of hot inflation from the US later this week, we suggest that is an overstatement or not the case yet.

At least recently the major focus of the gold trade has been the direction of the dollar with the direction of treasuries periodically taking control.

Therefore, seeing the dollar correct after extending its uptrend last week some gold and silver bulls are hopeful the dollar will have trouble extending the upward pattern in the coming week...[MORE]

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Sep 11 (Reuters) - Gold rose on Monday, heading for its best session in nearly two weeks as the dollar retreated before this week’s key U.S. inflation reading that could influence the Federal Reserve’s interest rate decision later this month.

Spot gold climbed 0.4% to $1,924.60 per ounce by 1002 GMT, while U.S. gold futures rose 0.3% to $1,949.20...[LINK]

Even though the dollar has not posted a higher high for the move yet today it remains near breakout pricing and should remain a headwind against early gains in gold and silver.

While minimally lower US treasury yields provide a very small measure of week-ending short-covering activity, markets continue to lack a key internal fundamental driving force.

In retrospect, gold and silver withstood hawkish dialogue from three Fed members this week potentially signaling thinner and more orderly declines ahead...[MORE]

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Sep 8 (Reuters) -Gold firmed on Friday as the dollar came off six-month highs but bullion was still en route to a weekly fall on chances of one more U.S. interest rate hikes this year.

Spot gold was up 0.2% to $1,923.63 per ounce by 1037 GMT, but was set for a 0.8% weekly fall. U.S. gold futures rose 0.3% to $1,947.60...[LINK]

While bearish outside market forces are not presenting significant pressure on gold and silver prices, early on those forces remain and are likely to expand their impact directly ahead.

Unfortunately for the bull camp in gold and silver treasury prices are just above new lows for the move and the dollar index in the early trade matched the multi-month high posted yesterday in the overnight trade.

Internal market forces like demand are mixed with gold and silver ETF holdings falling significantly (especially in silver) and Chinese gold reserves at the end of August increasing from 68.6 million ounces to 69.6 million ounces...[MORE]

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Sep 7 (Reuters) -Gold prices inched higher on Thursday, as a slight pullback in Treasury yields offered some respite from a robust dollar, while investors looked forward to more U.S. economic data to gauge the outlook for interest rates.

Spot gold was up 0.1% at $1,918.64 per ounce by 0906 GMT, after hitting a one-week low on Wednesday. U.S. gold futures were little changed at $1,943...[LINK]