Gold prices hover near key pivot at $2501 as traders await U.S. CPI data. A breakout or breakdown depends on inflation and the Fed's next rate move.
Fed rate speculation and a rising US dollar pressure gold prices. Key support remains at $2,500, with CPI and PPI data poised to drive the next move.
Jordan Finneseth is a Crypto Market Reporter for Kitco Crypto. Coming from a background in Psychology and Human Behavior, he began to focus his attention on the cryptocurrency space in early 2017 after noticing the rapid growth of this emerging market.
Silver and platinum gained upside momentum amid rising demand for precious metals.
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.
The gold market pulled back in the early hours of Monday, only to turn back around and rally again. At this point, it is very difficult to suggest anything other than that gold is positive and going to more likely than not go higher.
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.
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.
Gold prices hold steady as traders await key US inflation data, set to influence the Fed's next move on rates. Will this drive the next gold price rally or decline?
Gold prices face resistance at $2,500 amid stronger U.S. dollar and higher Treasury yields. Bearish outlook remains with $2,471 as the next key support.
As I write this, gold is trading just under $2,500 an ounce after surging past the psychologically important level for the first time ever in mid-August. For seasoned gold mining investors, this should be a moment of validation.