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 remains in focus on Friday after climbing more than 1% yesterday to a two-week high, as recent lackluster economic data has boosted hopes among investors that the Federal Reserve will be in a position to cut interest rates later this year.
Potential interest rate cuts and lower Treasury yields support a bullish outlook for gold, though a stronger dollar might create some headwinds.
Metals and miners are very close to completing cycle lows. From here, we expect an aggressive rally into August, with the potential for gold to reach $2800.
Gold (XAU) consolidates near $2,365, driven by softer US economic data and anticipated Fed rate cuts. What's the next move?
Gold breaks out above 50-Day MA and downtrend line, signaling potential for further gains and bullish continuation.
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 markets gained upside momentum despite rising Treasury yields.
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 has shown itself well supported at the moment, as we see a lot of noise and action down to the $2280 level. As things stand, there are a multitude of reasons for buyers to continue to run this market.
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.