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 broke above an important short-term technical level on Friday — a sign that the precious metal may be starting to regain momentum after a sluggish stretch since the start of the Iran conflict.
Gold is consolidating at a key technical inflection point as short-term bearish signals emerge near major moving average resistance, while the broader long-term bull trend remains structurally intact.
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.
Gold markets are moving higher as traders react to economic reports from the U.S. and focus on falling oil prices.
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.
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.
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.
Gold rose in early Asian trade on signs of ongoing U.S.-Iran tensions that could enhance the safe-haven appeal of the precious metal.
TD Securities strategists said in a note cited by Bloomberg Thursday morning gold and silver prices are being pushed up by “headlines of a potential peace deal,” though they cautioned these price swings are “extremely fragile to reversal as US and Iranian demands seemingly remain unchanged compared to prior proposals.” Analysts from Sucden Financial said in an email to Forbes a softening dollar—which is down about 0.15% Thursday morning—has helped metals prices rise, also citing “renewed diplomatic expectations.
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 rally in gold and silver could resume if a U.S.-Iran peace settlement is reached, market watchers told CNBC. During the conflict, gold's moves were muted, trading in opposite directions to moves in the oil price and U.S. dollar.