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Gold Prices Rise Strong Through $1610/Oz as a Breakdown in London Fixing Drives Volatility and Concerning PMI Data Increases Risk-Aversion
Good morning, traders. An unusual Tuesday drop-in today, as the volatile moves we’ve seen in the gold market this morning warrant some discussion. Gold prices are trading with...
Gold Surges Past $1,600 as Composite PMI Hits 11-Year Low
The US Markit manufacturing PMI dropped from 50.7 to 49.2 in March, beating expectations of 42.8. Meanwhile, the Markit services PMI underwhelmed, falling from 49.2 to 39.1 vs...
Gold Price Preview: March 23 - March 27
Good morning, traders. Welcome to our weekly preview of economic data and the narratives that are driving global markets, with a focus on those inputs that may have the biggest...
Gold Price Recap: March 16 - March 20
Happy Friday, traders. Welcome to our weekly market wrap, focusing on the last five days of trading in gold, the Dollar, and related assets.
This week has been another...
Gold Tests $1,500 as Home Sales Hit 13-Year High in February, but Coronavirus Will Take a Toll
Home sales rose a solid 6.5% in February compared to the month before, the highest pace in 13 years. Analysts expected gains of just 07%. 5.77 million units were sold, with the...
Gold Fights Losses Following 70,000 Surge in Jobless Claims, 1 Million Layoffs Expected By End of March
Gold has shaken off losses in today’s session following a major increase in jobless claims. Claims rose 70,000 in the week ended March 14 to 281,000, the highest level since...
Philly Fed Manufacturing Index Plunges Below 7-Year Low in March, Gold Prices Tick Upward
The Philadelphia Fed manufacturing index fell from 36.7 to -12.7, the lowest reading since the summer of 2012. The markets had expected a steep drop to 8, but the -12.7 reading...
From 1.5% to Zero in Under Two Weeks: Reviews the Fed’s Inter-Meeting Cuts and What It Means for Gold Prices
What a month, traders. What a month it’s been so far. This is the space where, up until Sunday evening, I was planning on offering our usual recap of the FOMC’s announcements...
Gold Hovers at $1,500 as Housing Starts Drop Off in February
Housing starts declined in February following a strong month in January that was aided by unseasonably warm weather. Homebuilding fell 1.5% to a seasonally adjusted annual rate...
Gold Prices Volatile as February Industrial Production Figures Do Not Reflect March Recession
Gold prices have seen slight upward momentum despite the release of upbeat industrial production figures for the month of February. US industrial production rose 0.6% last...
Gold Price Trading Higher as Retail Sales Disappoint Even Before the Effects of Covid-19 Containment Can Really Be Felt
US consumers had already begun paring back spending last month, even before the efforts to slow the spread of the Covid-19 coronavirus began constricting regular economic...
Gold Price Preview: March 16 - March 20
Good morning, traders. Welcome back to our weekly preview of the trading days ahead, with a specific focus on the economic data, as well as global and market narratives that...
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