While speculators and retail investors have been liquidating their gold holdings, one major pillar of support remains firmly in place, with central banks viewing the current price action as a buying opportunity.
Silver markets have also moved lower in today's trading session.
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HSBC said it retains a “positive posture” on gold, but lowers its average gold-price forecasts for 2026 and 2027.
Although gold remains a critical portfolio anchor in an increasingly volatile macroeconomic environment, investors looking for more active long-term commodity opportunities should also pay close attention to metals tied to artificial intelligence and the global energy transition, according to one research firm.
Although gold has managed to reclaim support above $4,100 an ounce, one research firm is warning investors that a decisive bullish breakout is likely to remain out of reach as renewed turmoil in the Middle East keeps inflation pressures elevated and reinforces expectations for tighter U.S. monetary policy.
Gold investors shouldn't mistake the precious metal's sharp correction for the start of a new bear market, according to one portfolio manager, who argues that the long-term fundamentals remain intact and the recent weakness has created an attractive buying opportunity across both bullion and mining equities.
Gold prices are holding renewed support above $4,100 an ounce and could attract new momentum as the U.S. housing market remains lackluster, with home sales continuing to struggle.
Spot gold and silver prices are higher ahead of the North American market open Thursday, as traders rebuilt part of Wednesday's selloff while Treasury yields, the U.S. dollar and crude oil prices held firm on renewed U.S.-Iran escalation.
Gold prices are trading higher after reclaiming $4,100 on Thursday morning following the release of better than expected labor market data after the number of Americans filing new claims for unemployment benefits came in below economists' forecasts.
Gold was flat in Asian trade amid renewed fighting in the Middle East and after the Federal Open Market Committee's latest minutes
Spot gold and silver prices are solidly lower in late-afternoon U.S. trading Wednesday, as renewed U.S.-Iran escalation, a sharp crude-oil rally and hawkish Fed minutes pushed Treasury yields and the U.S. dollar higher.