|Day's Range||1,316.2 - 1,319.2|
|52 Week Range||1,316.199951 - 1,319.200317|
Gold prices moved lower as the ECB conveyed a dovish message, and U.S. jobless claims dropped pushing the 10-year yield higher which buoyed the greenback paving the way for lower gold prices. Durable goods order was also better than expected for the headline number, but the internals showed some weakness especially business investment.Technicals
Elsewhere on the Comex, silver futures were down 0.53% to $16.415 a troy ounce. Among other precious metals, Platinum Futures fell 0.30% to $910.00 while Palladium Futures surged 1.69% to $983.85 an ounce. Copper futures decreased 0.40% to $3.122 a pound.
Investing.com – Wall Street opened higher on Thursday, bolstered by strong earnings results from technology companies.The S&P 500 was up over 10 points or 0.40% to 2,650.08 as of 9:40 AM ET (13:40 GMT) while the Dow composite increased over 53 points or 0.22% to 24,137.80 and tech heavy NASDAQ Composite rose 63 points or 0.90% to 7,067.06.Technology stocks were much higher after stronger than expected earnings results.Facebook (NASDAQ:FB) surged 9.02% after its first-quarter results came in higher than expected. ...
Investing.com – U.S. futures pointed to a slightly higher opening bell on Thursday as earnings season continued.The S&P 500 futures was up five points or 0.19% to 2,649.50 as of 6:49 AM ET (10:49 GMT) while Dow futures increased 40 points or 0.17% to 24,118.0. Meanwhile tech heavy Nasdaq 100 futures surged 35 points or 0.54% to 6,591.00A flurry of corporate earnings are expected on Thursday, including General Motors (NYSE:GM), Amazon.com (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), Starbucks (NASDAQ:SBUX), American Airlines Group (NASDAQ:AAL) and many others. ...
Based on the early trade, the direction of the gold market today is likely to be determined by trader reaction to a steep downtrending Gann angle at $1325.40.
Investing.com - Gold prices were off their best levels of the day on Thursday as strength in the dollar and Treasury yields continued to weigh, keeping prices within reach of three week lows.
Global markets have turned cautious as major risk events await, including the ECB, Core Durable Goods Orders from the States. And tomorrow’s Korean summit, and U.S GDP number. The U.S Dollar remains strong.
The U.S Dollar has continued to be strong in forex as the Euro, Pound and Yen have all been pushed to additional weaker levels.
Gold is trading higher early Thursday in reaction to slight weakness in the U.S. Dollar. Short-covering in the Euro ahead of today’s European Central Bank interest rate decision and monetary policy announcement is helping to weaken the dollar. The ECB could fuel a rally in gold if its monetary policy announcement comes out on the hawkish side.
Investing.com - Gold prices rose on Thursday morning as the dollar retreated across the board in Asia despite the rising 10-year U.S. treasury yields.
The catalysts driving yields higher are worries about the growing supply of government debt and inflationary pressures from rising oil prices. Traders also continued to react to solid economic data from earlier this week that indicates the economy is growing at a robust pace.
Gold prices moved lower but bounced on their lows as the dollar continued to gain traction as U.S. yields rise. While data has been strong, there has been little sign of core inflation. Energy prices might be on the rise and there are pockets of housing strength due to supply constraints, but not enough for the Fed to increase rates more than 3-4 times this year. Gold prices rebounded from support, but moved lower after rebounding to the break down level on Tuesday.
Gold fell on Wednesday, driven lower by a rising U.S. dollar and bond yields. Comex gold futures for June delivery were down 0.86% to $1,321.60 a troy ounce as of 10:26 AM ET (14:26 GMT). The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.43% to 90.95.
Investing.com - Wall Street opened lower on Wednesday, as worry over rising bond yields offset a surge in corporate earnings.The S&P 500 was down over 21 points or 0.81% to 2,612.12 as of 9:45 AM ET (13:45 GMT) while the Dow composite decreased 200 points or 0.83% to 23,823.70 and tech heavy NASDAQ Composite fell 55 points or 0.79% to 6,951.73.Bond yields have risen to their highest levels in four years, as inflation has added to expectations of continued rate hikes from the Federal Reserve. ...
Global equities are becoming increasingly cautious as the U.S Dollar surge continues. US futures follow global sentiment, aiming for a lower opening.
Based on the early trade, the direction of the gold market the rest of the session will be determined by trader reaction to the main bottom at $1322.60.
Investing.com - Gold prices fell on Wednesday, nearing their recent two-week lows as a stronger dollar and rising Treasury yields weighed on demand for the precious metal.
Gold prices are trading sharply lower early Wednesday and the market has nearly erased all of yesterday’s gains. All it took was a recovery in the U.S. Dollar and an upturn in U.S. stock index futures to attract sellers.
Investing.com - Gold prices dropped on Wednesday morning as the dollar was driven higher by the 10-year U.S. treasury yields that surged to a four-year high at 3%.
The U.S Dollar’s surge was halted on Tuesday as the Yen, Euro and Pound held their ground after three straight sessions of downward pressure in forex.
Gold markets rallied a bit during the trading session on Tuesday, as the $1320 level continues to offer a bit of support. It looks as if we could try to grind higher from here, but it is going to take some work to build up the momentum necessary to go higher. I believe the pullbacks continue to be buying opportunities, as this is a market that has plenty of support underneath.
Investing.com – Gold prices were on track to snap a four-day losing streak after the rally in U.S. treasury yields paused, weighing on the dollar which eased from two-month highs.