|Day's Range||1,229.5 - 1,232.6|
|52 Week Range||1,229.499634 - 1,232.600220|
Investing.com - This week precious metals traders will continue to watch developments in equity markets and monitor geopolitical risks after gold prices notched up a third week of gains.
Fresh economic data will be sparse next week so gold traders are likely to continue to respond to the movement in Treasury yields, the direction of the U.S. Dollar and stock market volatility. Gold could start to feel pressure if yields rise and the stock market remains steady. This will be a sign that investors have priced in a few of the Fed’s future rate hikes.
The Fed minutes showed policymakers were confident in the current path of interest rate hikes, saying that a series of gradual rate hikes was the correct strategy in helping to maintain a stable economy. The minutes also showed central bankers were wary of “excesses” in financial markets.
Gold markets rallied a bit for the week, as we have cleared the recent consolidation and it now looks like the rally is going to continue. The $1250 level above looks to be rather resistive and perhaps a nice target for the time being.
Gold markets were rather quiet on Friday as traders start to look towards the weekend. We have recently seen a significant move to the upside on the chart, and at this higher-level it looks like we are simply trying to digest some of the recent explosive gains.
Investing.com - Gold prices settled a touch lower on Friday on profit-taking from recent gains, but a weaker dollar and geopolitical worries still helped bullion coast to a third weekly gain.
Investing.com - The Dow rebounded on Friday as Procter & Gamble posted stronger-than-expected earnings results, ending a week of volatile trading on Wall Street.The S&P 500 rose 13 points, or 0.47%, to 2,781.88 as of 9:38 AM ET (13:38 GMT), while the Dow increased 102 points, or 0.41%, to 25,482.37 and the tech-heavy Nasdaq Composite was up 53 points, or 0.72%, to 7,538.93.P&G (NYSE:PG) was up 6.24% after the consumer goods giant reported diluted earnings per share of $1.22.PayPal (NASDAQ:PYPL) was among other gainers, surging 9. ...
Investing.com – U.S. futures were higher on Friday as investors look ahead to data and corporate earnings resultsThe S&P 500 futures rose 6 points or 0.22% to 2,778.25 as of 6:50 AM ET (10:50 GMT) while Dow futures were up 61 points, or 0.24%, to 25,442.0. Meanwhile tech heavy Nasdaq 100 futures increased 29 points, or 0.42%, to 7,167.50.All three indexes ended in the red on Thursday after weak industrial earnings. Earnings season continues on Friday, Schlumberger NV (NYSE:SLB), State Street Corp (NYSE:STT)t, and Honeywell (NYSE:HON) expected. ...
Gold prices continued to trade sideways forming a bull flag pattern that is a pause that refreshes higher. Stronger US yields relative to Europe and Japan are buoying the dollar which is weighing on gold prices. Gold has benefited from a flight away from riskier assets during the past 2-weeks, as stock prices have traded on the defensive. Weaker than expected Chinese economic data including GDP and Industrial production also buoyed gold prices.
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.
The primary market driver today is expected to be the U.S. Dollar. Rising Treasury yields and a rapidly falling Euro is helping to boost the dollar. This is helping to limit foreign demand for dollar-denominated gold.
Investing.com - Gold prices gained on Friday as Asian stocks traded mostly lower after China reported disappointing third-quarter GDP data.
Gold markets broke out to the upside recently, and over the last couple of days we have simply grounds sideways overall and at this point I think what we are trying to do is reach the $1250 level above. That is massive resistance due to technical and psychological importance though.
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 moved higher on Thursday as US yields whipsawed initially moving higher following a stronger than expected jobless claims report. With claims close to a 59-year low, wages should begin to move higher which is why the Fed in its meeting minutes said that it was likely to move to restrictive monetary policy. With short-term policy still somewhat accommodative, its possible that short term rates rise to 3%, which is close where the 2-year yield is currently pricing. This could buoy the dollar and in turn put downward pressure on gold prices. Despite this scenario, yields moved lower, paving the way for higher gold prices.
The S&P 500 fell 17 points, or 0.61%, to 2,792.10 as of 9:37 AM ET (13:37 GMT), while the Dow decreased 148 points, or 0.58%, to 25,558.49 and the tech-heavy Nasdaq Composite was down 49 points, or 0.65%, to 7,593.27.
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.
Investing.com – U.S. futures pointed to lower opening bell as the Federal Reserve looks poised to continue gradually increasing interest rates.The S&P 500 futures fell 9 points or 0.33% to 2,807.0 as of 6:50 AM ET (10:50 GMT) while Dow futures were down 69 points, or 0.27%, to 25,667.0. Meanwhile tech heavy Nasdaq 100 futures decreased 32 points, or 0.44%, to 7,281.0.The hawkish Fed minutes released on Thursday showed that while the central bank had some doubts about the economy, it still planned to gradually increase interest rates in December and possibly 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.
Gold investors continue to receive mixed signals from a few key outside market drivers. Bullish factors for gold include stock market volatility and weakness, a falling U.S. Dollar and a drop in interest rates. Gold could feel downside pressure if demand for risk returns, rates rise and the dollar trades steady to better.
Investing.com - Gold prices slipped while the dollar gained on Thursday after the minutes from the latest Federal Open Market Committee meeting reinforced expectations for tighter U.S monetary policy.
Gold markets went sideways during the trading session on Wednesday, as we continue to dance around high levels. After breaking above the $1220 level, we have seen a lot of sideways action as traders trying to digest the recent gains.
Investing.com - Gold prices fell on Wednesday after a two-day climb as a rallying dollar took some of the bullish support from the precious metal as the Federal Reserve released details from its latest policy meeting.
Gold prices edged lower and continued to trade sideways forming a bull flag pattern that is a pause that refreshes. The dollar gained traction against the Euro and the Pound despite softer than expected housing starts numbers. The weaker than expected US data was countered by softer inflation data in the UK and EU.
The S&P 500 fell 7 points, or 0.26%, to 2,820.70 as of 9:35 AM ET (13:35 GMT), while the Dow decreased 127 points, or 0.49%, to 25,671.38 and the tech-heavy Nasdaq Composite was down 10 points, or 0.13%, to 7,635.43.