|Day's Range||1,295.5 - 1,307.901|
|52 Week Range||1,295.4995 - 1,307.9008|
Investing.com - Gold prices were down on Thursday in Asia following the conclusion of the U.S. Federal Reserve’s two-day monetary policy meeting.
Based on the early price action and the current price at $1497.10, the direction of the December Comex gold market into the extended close is likely to be determined by trader reaction to the main 50% level at $1489.10.
Investing.com - Stocks recovered most of their losses by the end of trading Wednesday, erasing an afternoon selloff after the Federal Reserve cut its key interest rate for the second time in two meetings.
Gold markets continue to hover above the $1500 level heading into the FOMC Statement and of course interest rate decision. Ultimately, this is a market that will continue to focus on the fear trade and of course the interest rate outlook.
Investing.com - Gold futures held above the key $1,500 an ounce level on Wednesday after the Federal Reserve announced the second in U.S. interest-rate cut for this year, trimming rates by 25 basis points as it did in July.
Today’s Fed decision could produce a wicked two-sided trade because there is a little uncertainty ahead of the announcements. The Fed is widely expected to cut its benchmark interest rate 25-basis points. This news has been priced into the financial markets for weeks. The Fed’s monetary policy statement and interest rate forecasts are uncertain however.
Investing.com - Wall Street slipped lower at the open on Wednesday as investors waited for the Federal Reserve’s latest interest rate decision later in the trading day.
Investing.com - Gold prices were hovering near the $1,500 level on Wednesday as investors awaited the outcome of the Federal Reserve meeting later in the day, where the central bank is expected to deliver a rate cut.
On the weekend, there was a drone attack against the world’s largest oil processing facility and a major oilfield in Saudi Arabia. Oil prices have predictably spiked, but how will this geopolitical shock affect the gold market in the days ahead?
Investing.com - U.S. stock futures were pointing to a slightly lower open on Wall Street on Wednesday, ahead of a likely interest rate cut by the Federal Reserve at the conclusion of its latest meeting later in the day.
Gold futures are holding support around $1500 ahead of tomorrow’s Fed decision. Our intermediate cycle work supports a correction into October or November. A breakdown below $1490 in gold futures would signal the next leg lower in precious metals.
Gold markets continued to go back and forth during the trading session on Tuesday, as we continue to drift around just above the $1500 level. That being the case, the market looks very likely to try to find support underneath.
Investing.com - Gold prices moved modestly higher Tuesday as oil prices fell and Saudi Arabia said production of crude would hit 11 million barrels by the end of the month.
Based on the early price action and the current price at $1511.40, the direction of the December Comex gold futures contract on Tuesday is likely to be determined by trader reaction to the uptrending Gann angle at $1504.40.
Investing.com – Wall Street ticked lower on Tuesday as stronger-than-expected industrial production and manufacturing output figures put another dent in hopes for a rate cut from the Federal Reserve, whose regular policy meeting kicks off later.
The recent sell-off from multi-year highs indicates that gold investors have cut the chances of a U.S. recession, the current sideways price action indicates investors are searching for a new catalyst. The 25-basis point rate cut is priced in. Traders are also feeling more optimistic over U.S.-China trade relations.
Investing.com - U.S. futures were slightly lower on Tuesday as heightened geopolitical risk and fading hopes for an interest rate cut from the Federal Reserve weighed on sentiment.