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Modern-Day Gold Rush Has Investors Digging for Profits

  • Modern-Day Gold Rush Has Investors Digging for Profits Modern-Day Gold Rush Has Investors Digging for Profits 5:40
    Gold Hits New High as Investors Look to Hedge Against Uncertainty Gold Hits New High as Investors Look to Hedge Against Uncertainty 1:39
    What's next for gold prices amid continuing market volatility What's next for gold prices amid continuing market volatility 3:18
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.
9:53 a.m. Sept. 25, 2020 - By Myra P. Saefong
Gold futures lose nearly 5% for the weekGold futures to post a loss of nearly 5% for the week-the largest weekly percentage loss since mid-March. Analysts attributed losses for the precious metal to strength in the U.S. dollar this week. The longer-term outlook remains positive for gold, however, "as the global economic recovery will warrant more stimulus as the Northern Hemisphere battles the winter wave of the virus," said Edward Moya, senior market analyst at Oanda. "Gold will likely attract buyers from here on out as investors start scaling back their bullish bets." December gold fell $10.60, or 0.6%, to settle at $1,866.30 an ounce. For the week, prices based on the most-active contract lost 4.9%, according to FactSet data.
7:59 a.m. Sept. 25, 2020 - By Michael Ashbaugh
Charting a second failed technical test: S&P 500, Dow balk at key resistance Focus: Small and mid-caps register consecutive closes under 200-day averageU.S. stocks are higher early Friday, rising in the wake of damaging week-to-date price action. Against this backdrop, the S&P 500 has asserted a bearish intermediate-term bias, punctuated by consecutive failed tests of key resistance — S&P 3,328 and 3,280.
10:08 a.m. Sept. 24, 2020 - By Andrea Riquier
Gold miner ETFs bounce higher as bullion notches its first daily gain in four daysGold miner exchange-traded funds surged Thursday as the yellow metal price rose and the dollar softened further. The iShares MSCI Global Gold Miners ETF was up 2.6% at midday, while the VanEck Vectors Gold Miners ETF jumped more than 3%. The Sprott Gold Miners ETF jumped 3.4%. December gold , notching its first gain in four sessions. The gold price has dropped about 10% from its early August peak of $2,069.40. Miner stocks tend to move more dramatically than the price of the underlying metal.
10:04 a.m. Sept. 24, 2020 - By Myra P. Saefong
Gold prices post a gain for the first time in 4 sessionsGold futures end higher on Thursday to tally their first gain in four sessions, as a recent price drop to a two-month low raises the precious metal’s appeal among bargain hunters.
9:39 a.m. Sept. 24, 2020 - By Myra P. Saefong
Gold futures score first gain in 4 sessionsGold futures to post their first gain in four sessions. Analysts attributed the rise to a bounce back in the wake of oversold conditions as the U.S. dollar weakened a bit for the session. Gold prices, however, remained sharply lower week to date as overall strength in the dollar, with the ICE U.S. Dollar Index up 1.5% for the week, dulling the appeal for the dollar-denominated precious metal. December gold tacked on $8.50, or nearly 0.5%, to settle at $1,876.90 an ounce.
8:04 a.m. Sept. 24, 2020 - By Michael Ashbaugh
Second 7-to-1 down day raises caution flag amid failed technical tests Focus: Europe fuels cross currents across asset classes, U.S. dollar spikes as euro and gold turn lower, IEV, FXE, UUP, GLD, HYGU.S. stocks are higher early Thursday, rising after a mixed batch of economic data. Against this backdrop, the S&P 500 is digesting an aggressive week-to-date downturn, punctuated by a failed retest of key resistance (3,328).
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.
9:49 a.m. Sept. 23, 2020 - By Myra P. Saefong
Gold futures settle at a 2-month lowGold futures to settle at their lowest in two months. Prices declined for a third straight session as analysts continued to attribute weakness in the metal to strength in the U.S. dollar, which has found support on the heels of the rise in cases in Europe. December gold lost $39.20, or nearly 2.1%, to settle at $1,868.40 an ounce. Prices marked the lowest settlement for a most-active contract since July 22, according to FactSet data.
8:05 a.m. Sept. 23, 2020 - By Michael Ashbaugh
Charting a corrective bounce, S&P 500 balks at the breakdown point Focus: 10-year yield maintains the range, TNX, TGT, ZEN, SGMS, DDOGU.S. stocks are lower early Wednesday, pressured as September volatility persists. Against this backdrop, the S&P 500 has initially balked at its breakdown point — the 3,310-to-3,328 area — pressured to punctuate a corrective bounce from the September low.
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.
9:43 a.m. Sept. 22, 2020 - By Myra P. Saefong
Gold futures end lower for a second sessionGold futures to tally a second loss in a row, with strength in the U.S. dollar continuing to pressure dollar-denominated prices for the metal. December gold fell $3, or 0.2%, to settle at $1,907.60 an ounce following a loss of 2.6% on Monday. Prices marked the lowest settlement for a most-active contract since July 24, according to FactSet data.
8:52 a.m. Sept. 22, 2020 - By Michael Ashbaugh
Charting a bearish technical tilt: S&P 500, Dow industrials violate major support Focus: U.S. sector damage broadens amid familiar pockets of strength, XLF, KRE, XLE, QQQ, XLI, XLB, IYTTechnically speaking, the S&P 500 and Dow industrials have violated major support — as well as the 50-day moving average — raising an intermediate-term caution flag, writes Michael Ashbaugh.
8:17 a.m. Sept. 22, 2020 - By Michael Ashbaugh
Charting a bearish technical tilt: S&P 500, Dow industrials violate major support Focus: U.S. sector damage broadens though familiar pockets of strength persist, XLF, KRE, XLE, QQQ, XLI, XLB, IYTTechnically speaking, the September market downturn continues to inflict damage to the major U.S. benchmarks. Against this backdrop, the S&P 500 and Dow industrials have violated major support — as well as the 50-day moving average — raising an intermediate-term caution flag. The Nasdaq Composite has firmed, on the margin, versus the other benchmarks.
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.
9:46 a.m. Sept. 21, 2020 - By Myra P. Saefong
Gold futures settle at lowest since JulyGold futures to settle at their lowest in about two months, with the dollar-denominated metal pressured by strength in the U.S. dollar. "The safe haven is once again not providing shelter in these hazardous times," said Craig Erlam, senior market analyst at Oanda. "The dollar is instead making strides higher which is further pressuring commodity markets and taking gold with it." December gold fell $51.50, or 2.6%, to settle at $1,910.60 an ounce.
8:01 a.m. Sept. 21, 2020 - By Michael Ashbaugh
Charting a bearish technical tilt: S&P 500, Nasdaq violate major support Focus: Revisiting U.S. sector damage and pockets of strength, Financials challenge key support, QQQ, XLE, XLF, IYT, XLI, XLBU.S. stocks are firmly lower early Monday, pressured amid renewed virus concerns, as well as pronounced financials’ weakness, fueled by reports of sketchy industry business practices. Against this backdrop, the S&P 500 and Nasdaq Composite have extended violations of major support — S&P 3,328 and Nasdaq 10,840 — moves initially registered to conclude last week.
5:34 a.m. Sept. 21, 2020 - By Michael Brush
Stock market is at the start of a selloff, says veteran trader Larry Williams Williams, age 77, is focused on seasonal patterns that consistently play out over timeWilliams, age 77, is focused on seasonal patterns that consistently play out over time.
12:30 p.m. Sept. 18, 2020 - By Mark DeCambre
Stocks close lower, notching third straight weekly loss as tech-led sell-off intensifies S&P 500 closes below its 50-day moving average for the first time since April 23U.S. stock indexes closed lower Friday, notching a third straight weekly loss, amid uncertainty about a fresh round of fiscal stimulus from Washington, concerns about tensions between the U.S. and China, and worries about the sluggish pace of economic recovery.
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.
9:51 a.m. Sept. 18, 2020 - By Myra P. Saefong
Gold futures gain nearly 1% for the week Gold futures to tally a second consecutive weekly climb. "The fading optimism over a sharp V-shaped global recovery as new coronavirus cases picked up across the countries and sell-off in global equities has supported the yellow metal demand," analysts at ICICI Bank wrote in a market update. December gold rose $12.20, or 0.6%, to settle at $1,962.10 an ounce with most-active futures prices up 0.7% up for the week.
8:01 a.m. Sept. 18, 2020 - By Michael Ashbaugh
Market rotation persists, S&P 500 maintains major support (3,328) Focus: QQQ narrowly holds key support, Metals & Mining sector breaks out, QQQ, XME, STLD, COF, MAXR, CFU.S. stocks are lower early Friday, pressured to conclude largely range-bound week-to-date price action. Against this backdrop, the S&P 500 has thus far maintained major support (3,328), tagging a week-to-date low (3,328.8) matching the inflection point.
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.
10:06 a.m. Sept. 16, 2020 - By Myra P. Saefong
Gold marks a third straight gain, then moves higher in electronic trade after Fed statementGold prices for a third straight session, then moved even higher after the it plans to keep key interest rates near zero through 2023. In electronic trading, gold for December delivery was at $1,974.90 an ounce shortly after the policy announcement. The contract had climbed $4.30, or 0.2%, to settle at $1,970.50 an ounce on Comex, ahead of the Fed news.
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.
12:32 p.m. Sept. 15, 2020 - By Sunny Oh
Dow erases early climb, S&P 500 notches third straight gain as tech stocks extend rebound from last week’s rout Federal Reserve begins 2-day policy meetingU.S. stocks finishes mostly higher on Tuesday as the blue-chip Dow shed early gains ahead of a policy update by the Federal Reserve
10:01 a.m. Sept. 15, 2020 - By Myra P. Saefong
Gold notches back-to-back gains for highest finish in 2 weeks Fed policy announcement due WednesdayGold futures notch back-to-back gains on Tuesday to mark their highest finish in two weeks, ahead of what are expected to be dovish statements from global central banks this week that may provide renewed support for the precious metal.
9:35 a.m. Sept. 15, 2020 - By Myra P. Saefong
Gold futures settle at highest in 2 weeksGold futures climbed for a to settle at their highest in two weeks ahead of the Federal Reserve's statement on monetary policy due Wednesday. "The Fed is in focus and may help break the gold price out of this consolidation-phase price range" it's been stuck in for the last several weeks, Peter Spina, president and chief executive officer at GoldSeek.com, told MarketWatch. December gold edged up by $2.50, or 0.1%, to settle at $1,966.20 an ounce. That was the highest settlement for most-active contract since Sept. 1, according to FactSet data.
8:42 a.m. Sept. 15, 2020 - By Michael Ashbaugh
Bull trend intact: S&P 500, Nasdaq rally from major support Focus: Materials sector challenges record highs, Gold miners press trendline resistance, XLB, GDX, AXP, SPWR, AEMTechnically speaking, the major U.S. benchmarks are back on offense, rising in the wake of an aggressive September downdraft, writes Michael Ashbaugh.
8:12 a.m. Sept. 15, 2020 - By Michael Ashbaugh
Bull trend intact: S&P 500, Nasdaq rally from major support Focus: Materials sector challenges record highs, Gold miners press trendline resistance, XLB, GDX, AXP, SPWR, AEMTechnically speaking, the major U.S. benchmarks are back on offense, rising in the wake of an aggressive September downdraft. Against this backdrop, the S&P 500 and Nasdaq Composite have narrowly maintained major support — S&P 3,328 and Nasdaq 10,840 — rising from key tests to preserve a bullish intermediate-term bias.
10:26 a.m. Sept. 14, 2020 - By Mark DeCambre
Gold prices tally best one-day gain since August as dollar weakness buttresses bullionGold futures rise on Monday to tally their largest one-day gain of the month, as weakness in the dollar and superlow government bond yields help to keep the precious metal trading in a range that some market experts see as forming a bullish pattern.
9:45 a.m. Sept. 14, 2020 - By Myra P. Saefong
Gold futures mark biggest one-day rise this monthGold futures , extending last week's climb to tally their biggest one-day percentage and dollar price gain of this month so far. Prices for the precious metal got a boost from weakness in the U.S dollar, as well as a decline in Treasury note yields. December gold rose $15.80, or 0.8%, to settle at $1,963.70 an ounce. That was the largest one-day rise for the most-active contract since Aug. 28, according to FactSet data.
8:01 a.m. Sept. 14, 2020 - By Michael Ashbaugh
Charting another bullish reversal: S&P 500, Nasdaq rally from key support Focus: Japan’s stealth breakout attempt, Amazon narrowly holds key support, EWJ, AMZN, VFC, CROX, TMU.S. stocks are firmly higher early Monday, rising amid renewed vaccine optimism as well as merger and acquisition activity. Against this backdrop, the S&P 500 and Nasdaq Composite are concurrently rising from major support closely matching the 50-day moving average. The tandem successful retests preserve a bullish intermediate-term bias.
4:38 a.m. Sept. 12, 2020 - By Joy Wiltermuth
Dow ends 131 points higher Friday, but Nasdaq registers worst week since March U.S. stock benchmarks book second week in a row of lossesStocks finished modestly higher on Friday, except for the Nasdaq Composite, as Wall Street closed a volatile, holiday-shortened week sharply lower.
10:04 a.m. Sept. 11, 2020 - By Myra P. Saefong
Gold falls for the session, but edges up for the week Gold and silver prices tally weekly gains of less than 1%Gold futures fall on Friday, but edge higher for the week in the wake of turbulent stretch of trading for global equities.
9:50 a.m. Sept. 11, 2020 - By Myra P. Saefong
Gold futures fall for the session, gain for the weekGold futures but notched a gain for the week. "Gold has enjoyed a decent week after looking very vulnerable early on," said Craig Erlam, senior market analyst at Oanda, in a market update. "A bullish dollar breakout that appeared to be triggering a correction was very problematic for gold but the breakout has stalled quickly, aided by the [European Central Bank] opting to take a more considered approach than had been previously rumoured." December gold fell $16.40, or 0.8%, to settle at $1,947.90 an ounce, paring its weekly rise to about 0.7%.
8:07 a.m. Sept. 11, 2020 - By Michael Ashbaugh
Charting market cross currents, Nasdaq ventures under 50-day average Focus: Revisiting pockets of sector strength and weakness, QQQ, XLE, XBI, XLF, IYT, XLI, XLBU.S. stocks are mixed early Friday, vacillating as September volatility persists. Against this backdrop, the S&P 500 has weathered its second test of major support (3,328) while the Nasdaq Composite teeters on its the 50-day moving average, currently 10,938.
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