Latest News and Articles
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Gold Market Report – May 03, 2024
Overnight: Gold was steady overnight, trading narrowly and either side of unchanged ($2304) between $2297 – $2309, awaiting the US Payroll Report. A lack of significant overseas economic reports, and with the Bank of Japan holding its fire last night, currency markets / US dollar provided little direction for gold (DX stable but with a…
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Gold Market Report – May 02, 2024
Overnight: Range $2295 – $2326 After a pullback from its dovish Powell inspired high of $2328 to $2307, gold was lifted back to $2326 late yesterday afternoon by currency intervention by the BOJ. The Bank intervened for the 2nd time this week (this one around around $23B), trying to add / pile on to yen strength…
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Gold Market Report – May 01, 2024
Overnight Activity Gold showed more stability last night coming off its $49 decline yesterday, but lacked a significant corrective bounce. It traded a bit more narrowly and either side of unchanged ($2286) in a range of $2282 – $2297 ahead of this afternoon’s FOMC announcement and Powell Presser. The yellow metal slipped to its $2282…
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Why Gold is More Than Just an Investment – It’s Essential Protection
Gold has reached record highs, baffling many in the financial press, but not me. The common misconception that gold should underperform in a high-interest rate environment, due to its lack of dividends, overlooks a critical fact: these interest-bearing financial instruments have become significantly riskier. Rising interest rates have escalated the financial burden on issuers like…
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Gold Market Report – April 30, 2024
Overnight Activity: Gold sold off overnight, declining in a range of $2336 – $2308. It broke through support at $2320-26 (4/26, 4/29 lows, options, up trendline from 2/29 $2027 low), triggering further selling until it found support between $2305-12 (4/24 ,4/25 lows). The yellow metal traded against a firmer US dollar, as the DX rose…
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Gold Market Report – April 29, 2024
Overnight Activity: Gold stayed choppy last night, trading either side of unch ($2338) in a range of $2320 – $2344. It sold off to its $2320 low during early Asian time, fading strength in the US dollar (DX from 105.92- 106.08). The dollar was lifted by an initial spike down in the yen (160.20) to…
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Gold Market Report – April 25, 2024
Overnight Activity: Gold remained nervous and volatile last night, but moved higher while trading in a range of $2305 – $2331. The yellow metal moved down to its $2305 low during Asian time, against an uptick in the US dollar (DX from 105.77 – 105.84). The DX was buoyed by: Gold rebounded during European hours,…