Gold prices have rebounded to $2,325, rising 0.13%. Key resistance levels suggest potential for further gains amid geopolitical tensions and Fed rate expectations.
Gold faces a bearish short-term outlook but remains bullish long-term due to economic conditions and potential dovish Fed policy.
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.
Gold's failed breakout above the 50-Day MA puts it at risk of further declines, testing key support levels at 2,307.
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.
Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties.
The better-than-expected U.S. PMI reports put significant pressure on precious metals markets.
Commodities have erased most of their 2023 losses in just the first half of this year, thanks in part to robust purchases of gold by central banks that look set to continue.
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.
Business activity is rising in both manufacturing and services sectors.
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 Friday session has seen a lot of bullish pressure show up again in the gold markets. This is a market that will continue to seem bullish in the longer term, as there are a plethora of facts that will continue to push the market to the upside.