Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
All-time highs frequently indicate strong fundamentals and tend to attract more investors.
Gold prices are on track for their worst weekly decline in more than three years, pressured down by profit-taking, a stronger U.S. dollar and waning interest rate cut hopes following Donald Trump's victory in the U.S. election.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
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.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
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.
With gold hovering around $2,570, strong dollar pressure and inflation fears could weigh on XAU's recovery chances.
Gold edged higher in early Asian trade, with spot gold up 0.1% at $2566.66/oz.
Gold and EUR/USD rebound from strong support, while the US dollar is correcting lower from long-term resistance.
After reaching a new trend low, gold bounced back, forming a bullish pattern that may signal a bottom if support at 2,537 holds.
Gold went from setting records to a tough November losing streak. Here's what changed.