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10:09 a.m. April 14, 2021 - By Myra P. Saefong
Gold futures settle with a loss, move lower after Beige Book releaseGold futures settled with , with strength in U.S. Treasury yields helping prices to lose most of what they gained in the previous session. Prices showed little reaction to to the Economic Club of Washington. Powell said the Fed would taper asset purchases well before any interest rate increase, but offered no date for a shift in policy. Gold prices then moved lower in electronic trading after the Fed Beige Book reported a moderate acceleration in the economy. June gold was at $1,734.60 an ounce in electronic dealings, after losing $11.30, or nearly 0.7%, to settle at $1,736.30 an ounce on Comex.
9:37 a.m. April 8, 2021 - By Myra P. Saefong
Gold futures log highest finish since late FebruaryGold futures to mark their biggest daily gain of the month so far, and highest finish since late February. Prices for the precious metal extended their gains after said the central bank wanted to see actual evidence of a strong economy before it would even consider pulling back from its loose policy stance. June gold rose $16.60, or nearly 1%, to settle at $1,758.20 an ounce on Comex. That was the highest most-active contract settlement since Feb. 25, FactSet data show.
8:12 a.m. April 8, 2021 - By Michael Ashbaugh
Bullish momentum persists: S&P 500 (slightly) extends April breakout Focus: Communications services sector tags record highs, Apple’s stealth trendline breakout, XLC, AAPL, IBM, ON, NUANU.S. stocks are mixed early Thursday, vacillating ahead of scheduled remarks from the Federal Reserve Chairman. Against this backdrop, the S&P 500 has tagged its latest record high, though narrowly, while the Nasdaq Composite has extended an already-aggressive trendline breakout.
10:14 a.m. April 7, 2021 - By Myra P. Saefong
Gold prices mark first loss in 5 sessionsGold futures , easing back after posting gains in each of the past four trading sessions. Prices for the metal showed little reaction after . The minutes showed that members of the Federal Open Market Committee agreed that the COVID-19 pandemic was "causing tremendous human and economic hardship" across the U.S. and the world, and noted that "indicators of economic activity and employment had turned up recently, although the sectors most adversely affected by the pandemic remained weak." June gold was at $1,741.90 an ounce in electronic trading. It had ended the session down $1.40, or nearly 0.1%, at $1,741.60 an ounce.
7:58 a.m. April 7, 2021 - By Michael Ashbaugh
Bull trend confirmed: S&P 500 tags technical target (4,085) Focus: Europe digests break to 12-year highs, IEV, ASML, ADI, EMR, YUMU.S. stocks are mixed early Wednesday, vacillating ahead of the release of the Federal Reserve’s meeting minutes, due out this afternoon. Against this backdrop, the S&P 500 and Dow industrials are digesting decisive breaks to record territory, while the Nasdaq Composite has sustained an aggressive trendline breakout.
10:17 a.m. March 24, 2021 - By Michael Ashbaugh
Market rotation persists, S&P 500 capped by the breakdown point Focus: Small- and mid-caps extend March downturn, Nasdaq capped by 50-day averageU.S. stocks are mixed Wednesday, vacillating as Treasury yields continue to stabilize in the wake of largely uneventful Federal Reserve policy remarks. Against this backdrop, the S&P 500 remains capped by its breakdown point (3,950) amid still largely range-bound price action as market rotation persists.
9:40 a.m. March 23, 2021 - By Myra P. Saefong
Gold prices settle lower as investors mull congressional testimony from Powell, YellenGold futures , at their lowest in over a week, pressured by strength in the U.S. dollar. Investors showed little reaction as they listened to congressional on the outlook for economic policy. The Fed "appears comfortable with the recent rise in 10-year yields as a tool to temper inflationary pressures over the long term. This has kept a lid on gold," said Jeff Wright, chief investment officer at Wolfpack Capital. However, "given the amount of stimulus, gold should strengthen," he said. Higher spending can pressure the dollar, providing support for dollar-denominated prices of gold. The Biden administration is of spending on infrastructure, education and fighting climate change. For now, Wright said gold is currently "range bound" at $1,600 to $1,800, but "with a bias towards downside in short term." On Tuesday, April gold fell $13, or nearly 0.8%, to settle at $1,725.10 an ounce.
8:20 a.m. March 19, 2021 - By Michael Ashbaugh
Charting another bull-trend pullback, S&P 500 tags familiar support Focus: Basic materials assert bull flag, XLB, WHR, FTNT, USB, FOURU.S. stocks are mixed early Friday, vacillating in the wake of this week’s Federal Reserve policy actions. Against this backdrop, the bigger-picture backdrop remains bullish, on balance, though the prevailing market technicals are not one-size-fits-all.
9:44 a.m. March 18, 2021 - By Myra P. Saefong
Gold gives up early declines to finish higherGold futures gave up early declines on for the session as investors continued to digest Wednesday's comments from the Federal Reserve and the central bank's chairman, Jerome Powell. Gold likely moved up "due to market noise and some haven flows, with tech stocks being down," said Fawad Razaqzada, market analyst at ThinkMarkets. The Nasdaq Composite as a appeared to fuel another round of rotation into sectors more sensitive to the economic cycle. Still, Razaqzada said gold may not be able to hold its gains, given the continued rise in U.S. Treasury yields. April gold rose $5.40, or 0.3%, to settle at $1,732.50 an ounce after tapping an intraday low at $1,716.60.
8:18 a.m. March 18, 2021 - By Michael Ashbaugh
Charting market rotation: Dow industrials take flight amid surging Treasury yields Focus: 10-year yield continues to take flight, TNX, NDAQ, DHI, XPO, VNOMU.S. stocks are mixed early Thursday, vacillating as market rotation persists after the Federal Reserve’s Wednesday policy statement. Against this backdrop, the Dow Jones Industrial Average has extended a break atop the 33,000 mark, as the Nasdaq Composite vies to simply maintain a posture atop its 50-day moving average.
7:54 a.m. March 17, 2021 - By Michael Ashbaugh
Charting a bull-trend pullback: S&P 500 digests breakout ahead of Fed Focus: Metals & mining sector sustains break to six-year highs, Facebook’s stealth trendline breakout, XME, FB, SIMO, SBUX, ANU.S. stocks are mixed early Wednesday, vacillating ahead of the Federal Reserve’s policy statement, due out this afternoon.
9:38 a.m. March 16, 2021 - By Myra P. Saefong
Gold futures up a second session, at highest in 2 weeksGold futures to tally the highest finish in two weeks, as traders awaited the outcome of the , which concludes Wednesday with a statement on monetary policy. "Overall, sentiment for gold is mixed as the economy continues to recover and inflation remains relatively muted," said Jason Teed, co-portfolio manager of the Gold Bullion Strategy Fund . If the Fed decides to use asset purchasing to suppress recent increases in Treasury yields, that "could prove to be relatively bullish for the metal," he said. "The Fed's overall dovish stance would usually be a tailwind for gold, however, sentiment in the economy may overpower the Fed's typical effects." April gold rose $1.70, or 0.1%, to settle at $1,730.90 an ounce, the highest most-active contract finish since March 2, FactSet data show.
9:42 a.m. March 15, 2021 - By Myra P. Saefong
Gold futures settle at their highest in nearly 2 weeksGold futures , with prices finding support from a decline in Treasury yields to mark the highest settlement for a most-active contract since March 2, FactSet data show. Prices also notched their fourth gain in five sessions. Investors await the outcome of the for further cues on gold's outlook. The meeting begins Tuesday and ends with a statement on monetary policy Wednesday. April gold rose $9.40, or nearly 0.6%, to settle at $1,729.20 an ounce.
8:15 a.m. March 15, 2021 - By Michael Ashbaugh
Charting a slow-motion breakout attempt, S&P 500 nails the range top Focus: Retail sector tags record close, General Motors reaches uncharted territory, XRT, GM, LKQ, ANTM, JWNU.S. stocks are mixed early Monday, vacillating ahead of the Federal Reserve’s mid-week policy meeting. Against this backdrop, the Dow Jones Industrial Average is digesting an aggressive break to record territory, while the S&P 500’s slow-motion breakout attempt remains underway.
9:50 a.m. March 4, 2021 - By Myra P. Saefong
Gold futures fall, but hold above the $1,700 markGold futures , as the 10-year Treasury bond yield climbed past 1.5%, pushing prices for the precious metal to their lowest settlement since June. During a Wall Street Journal webinar Thursday, he would be concerned about a disorderly move in the bond market, but suggested that hadn't yet had a material impact on financial conditions. The rise in bond yields has pressured prices for gold, which offers no yield. April gold fell $15.10, or 0.9%, to settle at $1,700.70 an ounce after touching a low at $1,693.90.
9:51 a.m. March 2, 2021 - By Myra P. Saefong
Gold futures log first gain in 6 sessionsGold futures , posting a gain for the first time in six sessions. "Gold's beatdown might be over" now that the global outlook might be showing some weak points, said Edward Moya, senior market analyst at Oanda. The global bond market selloff could very well resume, but "central banks are lining up to voice their concern over surging bond yields," he said. If the Federal Reserve "clearly signals they are in agreement with the other central banks, gold could easily get its groove back." April gold rose $10.60, or 0.6%, to settle at $1,733.60 an ounce. Prices settled Monday at their lowest since June 2020.
9:35 a.m. Feb. 24, 2021 - By Myra P. Saefong
Gold futures settle under the key $1,800 mark Gold futures , ending under the key $1,800 mark for the first time this week. risen to their highest levels in roughly one year, "highlighting that markets appear to be more willing to accept the economic recovery narrative" and putting pressure on prices for gold, said Matt Orton, director and portfolio specialist with Carillon Tower Advisers. has "specifically commented that the recent rise in bond yields is a healthy sign of economic expectations and downplayed inflationary fears from U.S. fiscal policy," he said. "This optimism on the recovery, coupled with expectations for relatively benign inflation, presents a major headwind to gold." April gold fell $8, or 0.4%, to settle at $1,797.90 an ounce.
9:48 a.m. Feb. 23, 2021 - By Myra P. Saefong
Gold futures finish slightly lower after Powell's congressional testimonyGold futures , following the two-day congressional testimony. The slight uptick in the U.S. dollar acted as a "modest headwind on precious metals," but there was a more notable correlation between gold and Treasury note yields, said Tyler Richey, co-editor at Sevens Report Research. "Treasury yields came off the morning highs as Powell reiterated a very dovish and patient policy stance, which saw gold stabilize and ultimately grind back" from bigger losses. April gold edged down by $2.50, or 0.1%, to settle at $1,805.90 an ounce after climbing 1.7% Monday.
8:18 a.m. Feb. 10, 2021 - By Michael Ashbaugh
Bull trend pauses: S&P 500, Nasdaq digest breaks to uncharted territory Focus: Industrial sector’s breakout attempt, Zoom Video and McDonald’s signal trend shifts, XLI, XM, MCD, SWKS, HOLXU.S. stocks are mixed early Wednesday, treading water after a generally strong batch of quarterly earnings reports and ahead of scheduled remarks by the Federal Reserve Chairman. Against this backdrop, each big three U.S. benchmark is digesting its latest break to record territory amid thus far muted mid-week selling pressure.
8:00 a.m. Jan. 27, 2021 - By Michael Ashbaugh
Charting an intraday downdraft, S&P 500 retests near-term support (3,764) Nasdaq maintains gap support, Small- and mid-cap benchmarks retest near-term floorsU.S. stocks are firmly on the defensive early Wednesday, pressured after a mixed batch of quarterly earnings reports, and ahead of the Federal Reserve’s latest policy directive, due out this afternoon. Against this backdrop, the S&P 500 has ventured under its breakout point (3,826), pulling in to an initially successful retest of familiar near-term support (3,764).
9:49 a.m. Jan. 26, 2021 - By Myra P. Saefong
Gold futures tally a fourth straight session declineGold futures logged a , marking the longest stretch of consecutive losses since the five-session decline ended on April 30, FactSet data show. The Federal Reserve will conclude its two-day meeting with a statement on monetary policy Wednesday. Monetary accommodation will be "the predominant theme for the time being, especially while Covid and its economic consequences are felt," Stephen Flood, director of bullion services at GoldCore in Dublin, told MarketWatch. "A potential vicious rise in new Covid variant U.S. cases in February/March may test the broader economy and, as such, rumoured 'taper talk' may prove premature at this stage," he said, implying potential support for gold. February gold fell $4.30, or 0.2%, to settle at $1,850.90 an ounce.
9:42 a.m. Jan. 19, 2021 - By Myra P. Saefong
Gold futures finish higher for the session Gold futures , with the gain "clearly" related to the move in the U.S. dollar, spurred on by , who called for "additional stimulus programs in the coming weeks or months," said Jeff Wright, executive vice president of GoldMining Inc. From her experience with the Federal Reserve, "she talks about a strong U.S. dollar but then pursues actions resulting in a much weaker U.S. dollar, so longer term this is excellent for gold to go higher." February gold rose $10.30, or 0.6%, to settle at $1,840.20 an ounce. It recouped some of the 1.2% loss it suffered on Friday, before Monday's Martin Luther King, Jr. holiday.
9:46 a.m. Dec. 15, 2020 - By Myra P. Saefong
Gold ends higher, rebounds from lowest in almost 2 weeksGold futures , a day after marking their lowest settlement in almost two weeks. "Whether it's all upside from here or not may well depend on whether the [Federal Reserve] , with the central bank doing so at a time when Congress has not passed any relief of its own," said Craig Erlam senior market analyst at Oanda. "Bold measures may be necessary in case lawmakers on Capitol Hill fail to deliver, which could be very good for gold prices." February gold rose $23.20, or 1.3%, to settle at $1,855.30 an ounce.
9:38 a.m. Dec. 11, 2020 - By Myra P. Saefong
Gold futures post a gain for session, week Gold futures to tally a rise of 0.2% for the week. Gold prices rose as investors remain optimistic that the Federal Reserve will "deliver again next week," potentially taking a , and that "the recent surge in jobless claims will force Congress to break the impasse over a COVID relief bill," said Edward Moya, senior market analyst at Oanda. February gold rose $6.20, or 0.3%, to settle at $1,843.60 an ounce.
9:44 a.m. Nov. 30, 2020 - By Myra P. Saefong
Gold futures end lower for the session, down a 4th straight monthGold futures , with prices for the most-active contract posting a fourth consecutive monthly loss. Gold demand has weakened as "many investors are also preferring to dabble with cryptocurrencies and buy industrial metals, such as copper," said Edward Moya, senior market analyst at Oanda. However, "gold will likely see strong support in mid-December as the stimulus trade will be boosted" by the European Central Bank and the U.S. Federal Reserve, he said. February gold declined by $7.20, or 0.4%, to settle at $1,780.90 an ounce. Prices based on the most-active contract marked their lowest settlement since July 1 and lost roughly 5.6% from the end of October, according to FactSet data.
7:52 a.m. Nov. 6, 2020 - By Michael Ashbaugh
Charting a bullish November start, S&P 500 extends spike from major support Focus: Gold and Japanese yen take flight amid softer U.S. dollar, GLD, FXY, UUP, FXI, XLB, SMHU.S. stocks are slightly lower early Friday, largely treading water after a better-than-expected monthly jobs report and in the wake of an otherwise strong election-week rally. Against this backdrop, each big three U.S. benchmark has spiked at least 7.0% week-to-date, rising from major support amid an unusually strong November start.
10:10 a.m. Nov. 5, 2020 - By Myra P. Saefong
Gold futures log highest finish in 7 weeks, then edge higher after FOMC statementGold futures to mark their highest finish in about seven weeks, finding support after the it would buy £150 billion ($195 billion) more of U.K. government bonds. The British pound climbed in the wake of the news, contributing to a weaker dollar, which boosted dollar-denominated gold prices. Gold prices then extended their gains in electronic trading after the Federal Reserve left key U.S. interest rates near zero. The central bank also said the economy is recovering but still "well below" precrisis levels. In electronic trading, December gold was at $1,949.80 an ounce, after settling up $50.60, or 2.7%, at $1,946.80 an ounce for Thursday's session.
9:46 a.m. Nov. 3, 2020 - By Myra P. Saefong
Gold futures settle at 1-week high on Election DayGold futures to settle at their highest in a week, with prices over the outcome of the U.S. presidential election. "The rally in gold only takes us back to where prices were trading a week ago, and this looks more like position-squaring ahead of the result" than new long positions, Adrian Ash, director of research at BullionVault, told MarketWatch. The underlying demand for physical bullion, however, "remains positive as the longer-term outlook remains bullish. Whoever wins, the White House will oversee new record deficit spending to fight the COVID crisis, aided by unprecedented monetary stimulus" from the Federal Reserve, said Ash. December gold rose $17.90, or nearly 1%, to settle at $1,910.40 an ounce. That was the highest most-active contract finish since Oct. 27, FactSet data show.
9:43 a.m. Oct. 6, 2020 - By Myra P. Saefong
Gold futures retreat from highest levels in 2 weeksGold futures , falling back from the more than two-week high it finished at a day earlier. Traders continued to keep an eye on moves in the U.S. dollar and prospects for additional stimulus from Washington. On Tuesday, his belief that the U.S. economy needs more fiscal support, even as the recovery from pandemic has been strong thus far. Against that backdrop, December gold fell $11.30, or 0.6%, to settle at $1,908.80 an ounce. Prices gave up the bulk of the 0.7% climb they saw on Monday, when they finished at $1,920.10, the highest most-active contract settlement since Sept. 18, according to FactSet data.
9:44 a.m. Oct. 2, 2020 - By Myra P. Saefong
Gold futures end lower, but gain more than 2% for the weekGold futures , pulling back after settling at a nearly two-week high a day earlier, as traders assessed the impact of . Prices, however, held ground above the key $1,900 mark to gain over 2% for the week. "Gold should thrive next week, as investors await to see how severe is President Trump's coronavirus case, how many key officials have been exposed, if a disappointing nonfarm payroll report will push Congress to break the stimulus deadlock, and if the [Federal Reserve and European Central Bank] minutes to their policy meetings show they [are] almost ready to increase their asset purchases," said Edward Moya, senior market analyst at Oanda. December gold fell $8.70, or nearly 0.5%, to settle at $1,907.60 an ounce. Based on the most-active contracts, prices rose 2.2% for the week, according to FactSet data.
10:11 a.m. Sept. 25, 2020 - By Myra P. Saefong
Gold ends lower to suffer worst weekly slump since March Silver futures log a weekly drop of nearly 15%Gold futures end lower on Friday, with bullion booking its fourth decline in five sessions, prompting the asset to suffer its worst weekly slide in about six months.
10:29 a.m. Sept. 23, 2020 - By Myra P. Saefong
Gold prices end at 2-month low as rise in U.S. dollar deflates bullion demandGold prices fall below $1,900 an ounce on Wednesday to mark their lowest finish in two months as a strengthening dollar continues to undercut appetite for bullion, risking a further break in a bullish trend line in the precious commodity.
10:13 a.m. Sept. 22, 2020 - By Myra P. Saefong
Gold prices suffer back-to-back losses as dollar extends run-upGold prices on Tuesday end lower for a second session as the dollar continues its climb on the back of concerns about fresh COVID-19 lockdowns implemented in London and other parts of Europe, continues.
10:19 a.m. Sept. 21, 2020 - By Myra P. Saefong
Gold prices drop nearly 3% as rise in coronavirus cases sparks dollar rally Gold prices settle beneath 50-day moving averageGold futures drop on Monday, touching lows under $1,900 an ounce, amid an apparent flight to dollars. Rising global risks, including renewed COVID-19 lockdown measures in Europe, were partly to blame as bullion prices slumped to their lowest finish in two months.
10:06 a.m. Sept. 18, 2020 - By Myra P. Saefong
Gold futures tally a second straight weekly gain Copper marks highest settlement price since June 2018Gold futures finish higher Friday to tally a second weekly gain in a row, though prices only scored a modest boost from Federal Reserve policy that signals a lower-for-longer path for interest rates for the next three to four years.
9:54 a.m. Sept. 17, 2020 - By Myra P. Saefong
Gold prices lose 1% as traders react to Fed policyGold futures finish with a loss of 1% as commodity investors reacted to the monetary policy statement from the Federal Reserve, which indicated it intends to keep key interest rates near zero through 2023.
9:49 a.m. Sept. 17, 2020 - By Myra P. Saefong
Gold futures end with a more than 1% lossGold futures , easing back from a finish a day earlier at their highest in over two weeks. The better view on the economy from the Federal Reserve Wednesday has "reduced economic uncertainty" and led to some follow-through selling, analysts at Zaner Metals said. "Certainly, from a longer-term perspective seeing the Fed including lofty inflation targeting dialogue and reiterating it will not tap the brakes in the face of improved numbers until inflation is above their 2% targeting, creates the potential for a return of bull market action in gold and silver at some point in the future." December gold lost $20.60, or nearly 1.1%, to settle at $1,949.90 an ounce.
8:10 a.m. Sept. 17, 2020 - By Michael Ashbaugh
Charting a Fed-fueled downturn, S&P 500 nails major support (again) Focus: Transports and industrials tag new highs, Amazon ventures under key support, IYR, XLI, AMZN, MAR, DFS, BYNDU.S. stocks are lower early Thursday, pressured after a mixed batch of economic data and as markets continue to digest Wednesday’s Federal Reserve policy statement. Against this backdrop, the S&P 500 has weathered its latest test of major support (3,328) rising from an early session low (3,330) closely matching the inflection point.
10:31 a.m. Sept. 16, 2020 - By Myra P. Saefong
Gold prices log a third straight gain, then extend gains after Fed policy statementGold futures climb on Wednesday for a third straight session, then move even higher after the Federal Reserve said it intends to keep key interest rates near zero through 2023, which is likely to prove bullish for long-term metals investors.
7:10 a.m. Sept. 16, 2020 - By Michael Ashbaugh
Charting a holding pattern, S&P 500 asserts the range ahead of the Fed Focus: Big three U.S. benchmarks establish six-session range underpinned by major supportU.S. stocks are mixed early Wednesday, largely treading water ahead of the Federal Reserve’s policy statement, due out this afternoon. Against this backdrop, the major U.S. benchmarks have asserted a holding pattern, digesting a respectable September downturn.
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