This has been an interesting year for gold and other markets, to say the least. The yellow metal began 2023 at less than $1,800 per ounce and is looking to finish the year well above $2,000 for a gain of over $200 per ounce on the year. This represents an annual gain of over 10% and that could be stretched quite a bit further by the time this latest move higher has exhausted itself. The market is now set to continue into fresh all-time high territory, and certain catalysts could drive it significantly higher in a short period. The ongoing threat of inflation has the potential to keep the Feder ..read more

The gold market is higher today as investors spend one of the final trading days of the year in buying mode. The yellow metal has seen some benefit from increasing hopes of Fed rate cuts in 2024 as well as the ongoing threat of inflation and two wars currently taking place. Bets on a March rate cut from the Federal Reserve have been on the rise in recent action, and some key economic data may be spurring on hopes of a cut this winter. Reports on Thursday showed that U.S. Gross Domestic Product (GDP) increased at a rate of 4.9% last quarter. This figure was lower than the previously forecast ri ..read more

A weaker US Dollar Index as well as a bullish chart posture are propelling the gold market higher on Monday as traders return from the Thanksgiving day holiday. Spot gold prices are firmly above the $2,000 level in mid-morning action and the cloud stay above this key level throughout the session. If the bulls can maintain early day strength until the close today, the market could see a fresh flurry of buying in the days ahead. If the bulls fail to hold recent gains, however, the bears could see it as a chance to pounce and could take the market lower in the near term.   The gold market is ..read more

The gold market is off of its highs of the session in mid-afternoon action Tuesday but is still above the key $2,000 per ounce level. The metal is now struggling to hold above this key level, however and could even finish below it at the end of the day. A failure by the bulls to maintain the rally above this area could result in a downdraft for the market as the bears could become increasingly encouraged. If the bulls can hang on, it could spell more upside for the yellow metal as momentum players and others see it as a sign of strength and look to get involved.   The Federal Reserve minu ..read more

The gold market is having a quiet day on Wednesday as spot prices are lower by a dollar and change per ounce. The metal took a dip from levels seen earlier in the session after retail sales data came in better than expected. Not only did retail sales data for October beat expectations but the September print was also revised higher. The stronger data may lead more investors to assume that the Fed will not be lowering interest rates any time soon. The higher-for-longer mentality appears to be here to stay, although the Fed could still hike rates even higher if inflation rises or if the data bec ..read more

The gold market is seeing a nice rebound on Thursday after some recent selling pressure. Spot gold prices are higher by $14.50 per ounce just after the close of the pit session. Bulls stepped in to buy the recent dip following some technical selling pressure, and friendly outside market postures in both the dollar and crude oil also gave the yellow metal a boost. The day’s gains may have been limited by higher treasury yields, however, as they did tick higher throughout the session. The metal remains a ways away from the next key technical area at $2,000 per ounce. The bulls are still showing ..read more

The gold market is off to a slow start this week as the metal saw a slight decline on Monday. Spot gold is down a few bucks after the close of the day session, in what appeared to be a calmer, more quiet trade. The bulls seem to be taking a break today and could continue to do so in the days ahead. Of course, the market action will likely be largely determined by any new events in Israel or news out of Ukraine or elsewhere.   The gold market has had a solid run higher in recent days and a period of consolidation is not unexpected. The recent run-up in gold may now see some profit-taking o ..read more

The gold market is sharply higher on Wednesday as demand for safety takes center stage. The war in Gaza has taken a nasty turn for the worse. It was reported that an Israeli bomb hit a hospital in Gaza, killing 500 people. Hamas has blamed an Israeli air strike for the tragedy while Israeli has suggested that an errant Hamas missile is to blame. Whatever the case may be, the war appears to be getting nastier at this point and more violence may be seen before any type of conclusion is seen.   Of particular concern to global financial markets is the potential for additional actors to get in ..read more

The gold market has gotten a solid boost in recent trade from the Hamas attack on Israel that took place over the weekend. Hamas attacked Israel on Saturday in a move that took the country by surprise. The worst attack on Israel in some 50 years has already left 1500 dead and many more injured. Some have been kidnapped and taken prisoner as well by both sides. The conflict has gotten the attention of the U.S. and other nations. The U.S. has already moved a carrier strike group into the region as a show of force and to provide some stability to its Israeli ally.   The first few days o ..read more

The gold market finished the session higher on Monday by nearly $10 per ounce. The upside in the market was relatively quiet, however, and will likely remain that way until the Fed announces its decision on rates Wednesday afternoon. The central bank is widely expected to hold rates steady this week while maintaining its recent hawkish bias. A rate hike this week could send markets into a tizzy, while an overly dovish press conference could also do the same.   Markets will pay close attention to the Fed’s press conference following the announcement on rates. The central bank will, in all ..read more