Gold prices near $2686 as CPI data looms. Bulls target $2693.40 breakout, bears eye $2663.51 breakdown.
Today's article initiates my coverage of AngloGold, rating it a buy. The company recently acquired Centamin, which will increase mine production capability, and also has other projects in the pipeline. The firm's credit ratings are stable at all 3 major agencies.
Gold and silver are consolidating within tight ranges ahead of the CPI data release, while the US dollar index has formed a bearish hammer at resistance.
Despite recent pullback, gold maintains a rising trend, supported by strong demand, key MAs, and potential breakout above swing high resistance at 2,698.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Jeremy Szafron joins Kitco News as an anchor and producer from Kitco's Vancouver bureau. Jeremy is a seasoned journalist with a diverse background covering entertainment, current affairs and finance.
Jeremy Szafron joins Kitco News as an anchor and producer from Kitco's Vancouver bureau. Jeremy is a seasoned journalist with a diverse background covering entertainment, current affairs and finance.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Hang Seng rallies on softer US tariff prospects, while US CPI data looms as a key driver for Asian stock market sentiment this week.
Gold edged higher in the early Asian session in a possible technical recovery after the front-month gold contract closed down 1.3% on Monday.