The gold market continues to see a lot of noisy upward momentum, with he market pulling back slightly in the early hours of Tuesday. All things being equal, this is a market that is likely to see a lot of chop, but at this point in time, this market is
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 drop as traders look to U.S. payrolls report for Fed rate clues. Strong dollar adds pressure, capping gold's rally potential.
Gold faces pressure with a strong dollar and rising U.S. bond yields; watch key support at $2,489 for market direction.
Asian Stocks Mixed: Hang Seng and ASX 200 slip, Nikkei gains as US Futures point to a Weak Start to the Tuesday US session.
Gold is trading below the key resistance at $2520 – $2530.
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.
The gold market was slightly positive later in the Monday session, after initially dipping. However, it is important to recognize that the Americans and Canadians were both celebrating Labor Day, so the futures markets didn't have as much to say.
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.
China's slowing economy and a strong US dollar drive gold prices lower, with XAU/USD hovering near critical $2,488 support.
As the U.S. presidential elections approach, global financial markets brace for potential turbulence. Global broker Octa looks at the historical correlation between U.S. elections and stocks, gold, and the U.S. dollar.