Spot gold hovers near $4,200/oz after preliminary Consumer Sentiment rises to 48.9, one-year inflation expectations dip to 4.6%
The gold market is holding relatively steady after the latest data showed consumer sentiment in the U.S. improving, while inflation expectations pulled back from last month's highs.The University of Michigan announced on Friday that the preliminary reading of its Consumer Sentiment survey for June was 48.9. The data was better than expectations, as the consensus forecast of economists called for a reading of 46, and it was also above May's final reading of 44.8.
Gold And Silver Could Snap Longest Losing Streak In Months As Metals Remain Volatile
Despite Friday's gain, gold is still on track for a weekly decline of 7%, the Wall Street Journal reported, which would be the metal's second weekly decline in a row. Metals fell to their lowest levels in months this week, with gold touching a six-month low on Thursday, as analysts largely attributed the decline to expectations the Federal Reserve will hike interest rates, which generally causes metals prices to dip.
Gold holds above $4,200 as Hormuz risk premium unwinds - Kitco AM Report
Spot gold prices are steady and spot silver prices are weaker in early U.S. trading Friday, as oil prices fell sharply on U.S.-Iran deal hopes, U.S. equity futures edged higher and traders looked ahead to the next inflation-expectations read.
Gold Rises, But Remains Below Key Consolidation Level
Gold rose but remains below its key consolidation level of $4,500 an ounce on growing fears the Federal Reserve might have to raise its policy rate, UOB said.
Don't fear a drop below $4,000, gold's bull market isn't broken - Thorsten Polleit
Despite significant selling pressure, the gold market has managed to hold critical long-term support above $4,000 an ounce.
Gold (XAUUSD), Silver, Platinum Forecasts – Gold Attempts To Rebound After Strong Sell-Off
Silver and platinum markets are also trying to gain upside momentum on dip-buying.
Gold price remains under pressure as U.S. jobless claims rises to 229k
The gold market remains firmly caught in a downtrend, with prices trading near critical long-term support levels. Even potentially slowing momentum in the labor market has not been enough to pull prices out of this tailspin.
Gold price continues to struggle against euro as ECB raises interest rates by 25 basis points
The gold market continues to face significant downside risks and is seeing little reaction as interest rates rise in Europe.As expected, the European Central Bank increased its interest rates by 25 basis points. Interest rates for the central bank's deposit facility, the main refinancing operations, and the marginal lending facility have been increased to 2.25%, 2.40%, and 2.65%, respectively.
Gold breaks toward $4,000 as oil, yields weigh on metals - Kitco PM Report
Spot gold and silver prices are sharply lower after the close Wednesday, as the May inflation report, elevated Treasury yields and renewed U.S.-Iran escalation overwhelmed residual safe-haven demand.
Gold enters a bear market for the first time since 2022. How the ‘safe-haven' metal got here.
It's been 91 days since gold hit its recent peak — making for the quickest entry into a bear market since 2008.
As gold's tumble continues, traders bet the pain may last for two more years
Selling in the precious metal just keeps getting worse, with the GLD ETF now down 25% from its intraday record in February.
Gold price could triple if 1970s bull market pattern holds, says Jeff Clark
Gold's sharp correction this year may be unsettling for investors, but one market strategist argues the precious metal remains firmly within a historic bull market that is tracking one of its most historic rallies almost “tick for tick.”
