Precious metals prices headed substantially lower this morning as European and Fed-related worries resurfaced with a vengeance only two or so weeks after markets envisioned certain developments to open up a one-way path to significantly higher prices.
Spot gold fell to well under the $1,750 pivot point, losing about $23 per ounce in the process and showing a bid at $1,738 at last check, very near a fairly important support level (the next one comes around $1,723 per ounce) [...]
Some (or, in the case of oil) all of the Fed-induced euphoria that became manifest one week ago dissipated during the course of this week as certain market participants were left with an environment wherein Fedspectations can now be considered as being off the table and were in certain assets will have to make "a go of it" based on palpable demand and solid fundamentals...
Gold prices bumped up against long-term (one year in the making) downward resistance levels near $1,780 but remained supported above the $1,730-$1,750 value zone as [...]
Precious metals prices headed a bit lower at the opening this morning, mainly on the back of light profit-taking that ensued after the euro retreated and the US dollar rose owing to apprehensions about Europe and Asia.
Some Japanese firms stopped their production activity in China after violent anti-Japan protests took place during the weekend. The protests came in the wake of Japan's nationalizing of a group of disputed islets in the East China Sea [...]
Gold and silver opened marginally lower this morning while platinum and palladium continued to add to Thursday's gains. Spot gold traded near $1,766 and spot silver near $34.50 as the New York session opened for the final day of the trading week.
Here is a quick reminder of how not to get carried away with Fed announcement-related gold price pattern days. There are good days and not-so-good days that follow FOMC statements, but when [...]
The stronger US dollar resulted in gold backing away from major resistance at the psychological $1,700 mark and easing to lows near $1,685-$1,690 in early trading. It was the yellow metal's first decline in four sessions [...]
The new trading week started with small losses in the precious metals complex despite a 0.14% drop in the US dollar and a near $1 advance in crude oil. Small-scale profit-taking was cited after gold market players attempted a test at the $1,680 resistance area but failed to deliver a victory just yet...
Spot gold traded at $,1670 on the bid-side while silver remained very close to the $30.75 mark in the minutes following the New York opening [...]
Despite all of the bullishness on display for the better part of the week (highest in nine months) and despite the possibility that further advances towards somewhat higher price targets could still be in the works ($1,700-$1,730 gold was once again raised as a distinct possibility in EW analysis issued this week), there are those [...]
Spot gold was quoted at $1,612 per ounce while spot silver was indicated at $28.05 in early trading. The yellow metal continues within its recent tight range and is picking up various 'vibes' that either hurt or help, depending on the day [...]
Spot gold prices dipped under Tuesday's lows and touched $1,588 per ounce prior to the opening bell. Spot silver declined 31 cents to trade near $27.50 the ounce. The pullbacks was less severe in platinum which [...]
Precious metals started the new week with mixed results this morning as the euro remained steady around $1.235 but remained at risk of sell-offs and as crude oil advanced by less than 1% on supply worries.
The US dollar also traded in lackluster fashion, hovering near the 82.50 pivot point while stock index futures remained flat one hour ahead of the opening bell. Spot gold opened at $1,621 in New York showing 50-cent advance on the bid-side while spot silver fell 20 cents to start the day off at $27.95 per ounce [...]
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