Gold: Fed Hawkishness Weighs on Yellow Metal The yellow metal came under pressure this week as reports indicated that Republican senators are backing Stanford professor John Taylor to become the next President of the Federal Reserve. Taylor is viewed as a hawk who would likely normalise policy at a much faster rate which would weigh on the outl...
Gold prices lost close to 3% last month (October) after price failed to push higher above the $1350 handle. On a year to date basis, gold futures are still higher with 21.48% increase on a year to date basis. The recent gains since a week ago came about after the US dollar index hit a well-known resistance level near 99.00 - 100.00. With the dol...
Summary: Gold prices lose over three percent yesterday breaking below the psychological 1300 support Richmond Fed, Lacker maintains hawkish views on Fed rate hikes Gold validates the technical descending triangle pattern as mentioned last week Watch for near-term bounce back to 1310 - 1300 for resistance A correction to 1250 c...
After a brief pause on Monday, gold saw renewed bullish momentum as prices surged back to regain the $1350 handle. The gains came after yesterday's Institute of Supply Management's non-manufacturing PMI report. Data showed that the services sector activity fell to a 6-year low. It followed last week's manufacturing PMI which itself fell to more ...
The price of spot gold rallied strongly in the first two days of this week riding on a weaker US dollar and the monetary policy actions from the Bank of Japan last week and yesterday's fiscal stimulus announcement. Spot gold closed at $1363.62 an ounce, trading near July 11 highs. The gains came following last week's rally which saw gold prices ...
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