Spot gold is seeing some slight reprieve before the weekend as King Dollar moderates after Fed Chair Powell once again resisted against the idea of a 75 basis point hike.
13 May 12:23
The unrelenting rise in US Treasury yields and the dollar has dragged gold below the psychologically-important $1900 level, with spot prices now languishing below its 100-day moving average and a key Fibonacci level. Gold was unable to capitalize on Fed Chair Powell’s less-hawkish than expected message this week, with bullion bulls aware that US rates are bound to rise anyway, just not likely by way of a 75 basis point hike.
6 May 12:47
Exchange prices for nickel on Thursday reached 11-year highs at $27,970. Metal prices have been on the rise over the past few days, but today the uptrend picked up.
3 March 18:00
The suspension of cargo transport from and to Russia by three of the world's largest transportation companies has triggered an uptrend in industrial metal prices. As a result, Nickel soared to $25,705, an all-time high. Aluminum surged to $3,564, which is also a new peak.
2 March 14:38
Gold is trading in close proximity to $1,900/oz on Monday morning, although there is no lack of risks facing global capital markets. Investors may have opted for profit-taking earlier amid a rise in the value of the precious metal. In addition, a new wave of USD strength is currently putting pressure on gold prices.
28 February 11:45
Gold prices retraced on Thursday to an eight-month high of $1,893.60/oz. The bulk of trading is currently focused in the vicinity of $1,887, but the outlook appears quite conducive to ongoing momentum.
17 February 13:14
Aluminum prices have reverted to a correction and look poised for the resumption of gains. The metal is currently trading at $3,202 after returning to last week's peak at $3,333. The technical picture for aluminum trading suggests an upward retracement to a target of $3,500.
14 February 16:02
Gold prices are trending higher for the ninth session in a row following a short breather. By the time of writing, price action reached $1,828 and may continue to rise. The next target for gold is at $1,853, a high since January 25.
9 February 14:22
Aluminum prices are on the rise and look set to soar back up to the October peaks. The metal is currently trading at $3,191, and the next upside target is $3,229.
8 February 15:25
Gold prices stabilized on Wednesday around $1,803/oz. Notably, all the commotion surrounding Fed speakers in January and subsequent market reactions has faded.
2 February 14:34
Gold prices on Wednesday have been consolidating around $1,846/oz, which points to strong performance. Gold enjoys demand as a safe haven asset during market fluctuations. Right now, global investors need defensive assets as a hedge against shifting sentiment on global trading floors. US equity benchmarks have experienced sharp selloffs, with the S&P 500 index retracing to 6-month lows. It therefore makes sense that the markets are rotating back into gold.
26 January 11:08
Yesterday gold prices reached a two-month high of $1,841/oz. The precious metal got a boost from a pullback in the US dollar amid retreating UST yields. As a result, investors’ interest in gold is on the rise.
20 January 14:46
Silver prices are on the rise for a second day. The price action hit a two-month high of $23.84/oz and could keep moving higher. The technical picture does not rule out the possibility of a leg up to $25.40, but the metal would have to gain a foothold above $24/oz in order for this to happen.
19 January 14:39
Over the past few sessions, gold prices have been consolidating in the range of $1,812-1,828, but today the precious metal is in retreat, trading down to $1,816.50 amid bearish sentiment.
18 January 13:51
Gold prices declined after demand arose for the dollar as a safe haven. The precious metal was trading at $1,802.70/oz on Wednesday afternoon and could fluctuate between $1,800-1,810. The odds are that a successful attack on the lower bound of the short-term range will open the door to $1,785.
29 December 15:40
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