Upon arriving, he saw the franchise was drastically understaffed, and when he went to pay for that Quarter Pounder extra value meal, he found out it was double the pre-pandemic cost! That is at least how I envision it. The real story is that the Fed set an inflation target last March at 2.4% with […]
I warned we will have to contend with possible exhaustion areas on the way down—we came shy of the upper of these by $2.4 with a $1,845.7 low and bounced $26.3. On a lower timeframe basis: The trade above $1,688.2 has brought in $231 of strength. NOTE: this is just a small portion of the […]
The pounding in gold, silver and platinum continued Thursday, creating a reversal to the short side for gold and silver. $1,800-$1,820 August Gold is our first resistance point and our first target down is $1,750. As I have written before, although I am now short the futures for gold and silver, I maintain my long […]
“It was a big move down, and it shook a lot of people out,” Phoenix Futures and Options LLC president Kevin Grady told Kitco News. The precious metals market seems to be overreacting to these types of headlines, with investors really paying close attention to the Fed’s wording. “What you’re seeing in the USD and […]
Price action this week has seen that market careen sharply lower, including two days in a row of being “locked-limit-down,” meaning that those with bullish bets on the long side were trapped in the price downdraft and unable to exit their major losses. The yield on the 30-year bond dropped to 2.07%, with investors pulling […]
Ramelius Resources is a Western Australian gold producer that has been listed on the ASX since 2003 and in production since 2006. …Read the full story
“It was a big move down, and it shook a lot of people out,” Phoenix Futures and Options LLC president Kevin Grady told Kitco News. The precious metals market seems to be overreacting to these types of headlines, with investors really paying close attention to the Fed’s wording. “What you’re seeing in the USD and […]
Gold futures experienced the largest percentage drop, even bigger than January 8, 2021, when market forces drove the precious metal 4.18% lower. This follows yesterday’s $43.80 decline, which occurred after the FOMC meeting had concluded, the Fed statement was released, and Chairman Jerome Powell held his press conference. The Federal Reserve left interest rates near […]
“The main event of the week was Wednesday afternoon’s FOMC meeting,” Wyckoff said. …Read the full story
He said “In our opinion, how ETF investors behave will largely determine the path that gold takes this time. Fritsch added “On the other hand, the price should stabilize and begin climbing again in just a few weeks. On a more technical note, “there was follow-up selling by short-term-oriented market participants after the price dipped […]
Kirkland Lake’s Macassa mine, located in the Municipality of Kirkland Lake, within Teck Township, District of Timiskaming, in the northeast of the province of Ontario, is the richest gold mine in Canada and one of the richest gold operations worldwide. The second richest Alamos Gold’ Island Gold mine is a high grade, low-cost underground mining […]
We have had a decent rally since March this year but the volume on the move lower has been higher than every day bar one. …Read the full story
Price action this week has seen that market careen sharply lower, including two days in a row of being “locked-limit-down,” meaning that those with bullish bets on the long side were trapped in the price downdraft and unable to exit their major losses. The yield on the 30-year bond dropped to 2.07%, with investors pulling […]
In the rest of the commodities complex, copper trades 0.35% higher and spot WTI has moved -0.31% in the red. …Read the full story
August gold futures were last down $84.80 at $1,775.40 and July Comex silver was last down $1.882 at $25.925 an ounce. At Fed Chairman Jerome Powell’s press conference, he did not assuage inflation worries, ostensibly saying the Fed really does not know how much or for how long inflationary pressures will be on the rise. […]
The official close for the gold market is 2:00 EDT; all the selling took place after that, which gets counted on today’s prices. However, the selling did not trigger a sell signal in our algorithms. We remain long gold and silver, we would be short platinum, but we do not trade it any longer due […]
Thursday, the Philadelphia Federal Reserve said its manufacturing business outlook rose to a reading of 30.7 in June, up down slightly from its April reading of 31.5. The gold market has lost significant territory since Wednesday afternoon after the Federal Reserve forecasts the potential for two rate hikes in 2023. …Read the full story
Looking ahead to the rest of the session highlights include EU CPI, rate decisions from Turkey and Switzerland, U.S. …Read the full story
At Fed Chairman Jerome Powell’s press conference, he did not assuage inflation worries, ostensibly saying the Fed really does not know how much or for how long inflationary pressures will be on the rise. economic data released this morning did not impact the markets and is being overshadowed by the FOMC meeting amid traders and […]
Before that, the market will also need to push through the value area peak of the next distribution at $1780/oz and this could also be a strong support zone. On the topside, if the buyers do step back in the next resistance is the green zone above where the price is currently trading at $1845.8/oz. […]