|Day's Range||14.54 - 14.84|
|52 Week Range||14.539997 - 14.840011|
Geopolitical tensions are escalatinggeopoliticaland that has brought safe-haven buying resulting positive price action in both gold and silver despite broad-based firm USD in global markets.
The gold prices pulled back slightly during the Monday’s session, as strength in the USD is keeping the market under pressure. The silver prices fell during yesterday’s session due to overall weakness in the currency as well as the commodity market. The crude prices fell during yesterday’s session reaching down to the $68.50 level, as it is trying to find some support.
Silver markets dropped rather hard initially as the Americans came on board Monday, but still see plenty of support just below at the $14.50 level. It is because of this that I think we may see a bit of value hunting come back into the marketplace.
Investing.com - Gold’s ability to concede little in the face of adverse interest rate hikes has reestablished its position as the safe-haven of choice for investors. But with the impending U.S. midterm elections, the yellow metal is barely making ripples in $1,200 territory, disappointing some traders hoping for greater moves.
Investing.com - Gold prices were little changed on Monday after logging three-straight weeks of gains as investors prepared for Friday’s data on U.S. third-quarter growth, while monetary policy decisions this week from the European Central Bank and Bank of Canada will also be closely watched.
The latest FOMC minutes show that some of the FOMC members want to bring the fed funds rate even higher than the projected neutral rate. What is next for the US yields?
Precious metals erase early gains and have taken a decline in price action although geopolitics concerns and Italy weigh on global stability.
The gold market continued to remain sideways as it is trying to form some type of base. The longer-term outlook of the gold market is still positive as the USD is facing few headwinds on the top and is likely to weaken. If the gold prices break above the $1250 level, then it will rally much higher towards the $1300 level.
Silver markets went back and forth during the week, forming a bit of a neutral candle. This is a good sign though, because we are trying to form a bit of a base in the silver market. Ultimately, I believe that we will break out, but it’s going to take a bit of grinding sideways before doing so.
The silver market rallied significantly during the day on Friday, breaking above the $14.70 level, but then pulling back later in the day. At this point, silver continues to move with the US dollar, so pay attention to it.
Gold prices were flat on Friday as the U.S. dollar was volatile despite expectations of another interest rate increase this year and falling equities. Comex gold futures for December delivery inched down 0.07% to $1,229.30 a troy ounce as of 4:45 AM ET (8:45 GMT), not far from an earlier session high of $1,232.70. Rising interest rates are likely remain a concern for gold prices.
Silver markets pulled back during the trading session on Thursday, reaching down to the $14.50 level to find buyers. This is an area that should continue to be interesting, as it is essentially “fair value” of the recent consolidation area.
Investing.com - Gold prices rose on Thursday as bullish investors took the Federal Reserve's latest hawkish talk in stride and targeted the $1,250 level in a bid to recapture ground lost earlier in the year.
Gold prices were flat on Thursday as investors paused to digest the latest meeting minutes from the Federal Reserve. Comex gold futures for December delivery inched up 0.06% to $1,228.10 a troy ounce as of 8:02 AM ET (12:02 GMT). The hawkish Fed minutes showed that while the central bank had some doubts about the economy, it still planned to gradually increase interest rates in December and beyond.
Gold held fort as geo-political events have lead to some risk averse activity which has kept yellow metal in spot market trading positive.
Silver markets continue to go sideways as we are digesting recent gains. We are hovering around the $14.70 level, an area that has been important for the last several days.
Investing.com - Gold prices were largely unchanged on Wednesday, as investors looked ahead to minutes from the Federal Reserve's latest policy meeting for fresh clues into the outlook for monetary policy in the months ahead.
Gold prices edged lower on Wednesday as equities and the dollar gained amid waning risk-averse sentiment and strong reports. US Futures point to a lower open ahead of the FOMC meeting.
The gold market traded sideways mostly through the Tuesday’s session as it has been trying to gain some momentum. The gold prices have shown strong upside momentum in the last several sessions and pull-back under this condition will offer a nice buying opportunity. The $1220 level underneath is an excellent support point for this market and will attract a lot of buyers into the market.
The gold prices broke above the $1230 level in the Monday’s session as weak USD is supporting the market. The market is likely to continue going towards the $1250 level and $1220 level underneath will be offering a strong support to the market. The gold prices will continue to gain amid the uncertain global conditions and pullbacks will be a nice buying opportunity.
Gold trades flat near yesterday’s high’s as profit booking activity dampens price action for dollar denominated yellow metal in broad market amid risk averse market scenario.
Investing.com - Gold prices surged around 1% on Monday to reach the highest level in three months as a combination of concerns over rising U.S. yields and the impact of trade conflict, along with geopolitical risks and a weaker dollar, underpinned demand for the precious metal.
As stock markets plummeted all around the globe, sentiment deteriorated sharply, and investors turned back to the well-known safe-haven – gold.
The gold prices were sideways during the Friday’s session as the $1220 level offering a strong support. The silver market initially rallied during the Friday’s session but found $14.70 level too resistive to pull back slightly. A break above $14.80 level will send the silver prices towards the $15 level and higher.
Silver markets were very volatile during the week, but found a lot of explosive buying on Thursday, and then did almost nothing on Friday, which of course is a bullish sign after those types of gains. I think at this point, the hammer that formed during the week is a good sign as well.