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8:42 a.m. Nov. 1, 2021 - By Myra P. Saefong
Gold futures finish higher, but stay below the $1,800 markGold futures , but remained below the key $1,800 mark as the market awaited Wednesday's Federal Reserve decision on monetary policy. "The bear camp in gold and silver should be licking their chops as the markets widely expect the Fed to announce the beginning of tapering of asset purchases on Wednesday," analysts at Zaner wrote in Monday's report. "With the added pressure of a surge in the dollar form last week's lows and the recent rise in U.S. short-term interest rates, the bear camp has several themes operating in its favor. For now, December gold tacked on $11.90, or 0.7%, to settle at $1,795.80 an ounce after posting a loss of about 0.7% last week.
8:36 a.m. Oct. 28, 2021 - By Myra P. Saefong
Gold futures reclaim the $1,800-an-ounce markGold futures the $1,800 mark. Prices for the metal got a lift as missed expectations, easing concerns of a quicker liftoff in U.S. interest rates, said Chris Gaffney, president of World Markets at TIAA Bank. "Gold is widely seen as an inflation hedge, and rising inflation expectations should lend support to the price of precious metals." The GDP miss will help justify Federal Reserve Chairman Jerome Powell's arguments that "the economy is not in danger of overheating and interest rates will remain very accommodative for the foreseeable future." December gold rose $3.80, or 0.2%, to settle at $1,802.60 an ounce, the first most-active contract finish above $1,800 since Monday.
8:41 a.m. Oct. 25, 2021 - By Myra P. Saefong
Gold futures mark highest finish in almost 6 weeksGold futures climbed to their , with support from weakness in U.S. Treasury yields offsetting pressure from a rise in the dollar. The precious metal's relatively quiet price action "may wind up being the calm before the storm of a significant market move," said Tyler Richey, co-editor at Sevens Report Research. "Real interest rates are as low as they have been since the beginning of the pandemic, which is supportive of gold as rising inflation expectations are outpacing the rise in benchmark interest rates." December gold climbed $10.50, or 0.6%, to settle at $1,806.80 an ounce. Prices based on the most-active contract settled at their highest since Sept. 14, after posting a gain of about 1.6% last week, according to FactSet data.
9:08 a.m. Sept. 22, 2021 - By Myra P. Saefong
Gold settles slightly higher, extends gains after Fed policy statementGold prices settled with a , then moved up further after that they're almost ready to taper their bond-buying and expect to raise interest rates by late 2022. December gold was at $1,785.80 an ounce in electronic trading, following a settlement at $1,778.80, up 60 cents, or 0.03%, for the session.
9:04 a.m. June 28, 2021 - By Myra P. Saefong
Gold futures finish higher, extending gains from last weekGold futures , extending their gains from last week. Gold prices were "treading water" and likely to continue to do so ahead of this week's U.S. jobs numbers, said Michael Hewson, chief market analyst at CMC Markets UK. "It seems fairly clear that [interest] rates aren't likely to go higher in response to higher prices, with a renewed focus now on the jobs market, which appears to be lagging behind in terms of getting back to pre-pandemic levels," he said. August gold rose $2.90, or 0.2%, to settle at $1,780.70 an ounce. Prices ended last week higher for the first time in four weeks.
8:46 a.m. June 8, 2021 - By Myra P. Saefong
Gold futures mark first loss in 3 sessionsGold futures on Tuesday marked their first loss in three sessions, with prices only briefly touching a high above the key $1,900 mark. The market is paying close attention to Treasury Secretary Janet Yellen's recent comments on interest rates and how inflation could be good for economy, said Jeff Wright, chief investment officer at Wolfpack Capital. In an interview with Bloomberg News on Sunday, Yellen said higher interest rates would be "a plus" for policy makers. "A meaningful rise in interest rates would dramatically curtail economic growth," so that would be a "difficult needle to thread," said Wright. He said he'll be keeping an eye out for further comments from Yellen and await the reading on the U.S. consumer price index due Thursday. In the meantime, gold is back to being rangebound between $1,800 and $1,900 "until it breaks well past $1,900 on the upside," he said. August gold fell $4.40, or 0.2%, to settle at $1,894.40 an ounce after trading as high as $1,906.90.
8:57 a.m. May 24, 2021 - By Myra P. Saefong
Gold prices climb to settle at a level not seen since January Gold futures to settle at their highest since early January. Prices for the precious metal have climbed as "the combination of rising U.S. breakeven inflation rates and falling U.S. real yields have worked to reduce the opportunity cost of holding non-interest bearing physical asset such as gold," analysts at ICICI Bank wrote in a research report. June gold rose $7.80, or 0.4%, to settle at $1,884.50 an ounce. That was the highest most-active contract settlement since Jan. 7, according to FactSet data.
8:39 a.m. May 20, 2021 - By Myra P. Saefong
Gold prices shake off early losses to tally a sixth straight gainGold futures gave up early losses Thursday to , up a sixth straight session. "Vagueness on tapering" in the , released Wednesday, and the Fed taking a "'hawkish' stance on interest rates, along with less concern for inflation than the Fed would historically take" contributed to gold's rise Thursday, said Jeff Wright, chief investment officer at Wolfpack Capital. Gold may still move higher, but "will face resistance and profit taking above $1,900," said Wright. June gold added 40 cents, or 0.02%, to settle at $1,881.90 an ounce, with prices eking out a sixth straight session rise, the longest streak of consecutive gains so far this year, according to FactSet data.
8:53 a.m. May 7, 2021 - By Myra P. Saefong
Gold futures mark highest finish in almost 3 monthsGold futures to mark their highest finish in almost three months. Following data showing weaker-than-expected U.S. nonfarm jobs growth in April, Chintan Karnani, director of research at Insignia Consultants, said he does not expect U.S. interest rates to be raised at the Federal Reserve's June meeting, and the U.S. dollar index is "on the defensive." The ICE U.S. Dollar Index fell 0.7% Friday, on track for a weekly loss of over 1%, providing support for dollar-denominated gold. The June gold contract rose $15.60, or 0.9%, to settle at $1,831.30 an ounce. That was the highest most-active contract settlement since Feb. 10, FactSet data show. For the week, prices based on the most-active contract climbed about 3.6%.
8:45 a.m. May 5, 2021 - By Myra P. Saefong
Gold prices end higher as Yellen clarifies recent comments on interest ratesGold futures to recoup only part of what they lost a day earlier as U.S. Treasury Secretary Janet Yellen and said she was neither predicting nor recommending that the Federal Reserve raise interest rates to keep the economy from overheating. The $1,800 mark for gold is a "very strong resistance level" and further comments from Yellen "clarifying that she was not predicting anything in particular did nothing to help gold break through," said David Russell, director of marketing at GoldCore. June gold rose $8.30, or 0.5%, to settle at $1,784.30 an ounce.
8:48 a.m. April 20, 2021 - By Myra P. Saefong
Gold futures settle higher, buoyed by weakness in Treasury yieldsGold futures , buoyed by weakness in Treasury yields. Gold prices have climbed since marking a double-bottom on March 30th, said Adam Koos, president of Libertas Wealth Management Group, referring to a chart pattern that signals a potential bullish reversal in prices. He attributed gold's rise since late March to a decline in the U.S. dollar over the same period, as well as a retreat in interest rates that had become "extremely overbought" and a "long-in-the-tooth" U.S. stock market, which is "ripe for a pullback." June gold rose $7.80, or 0.4%, to settle at $1,778.40 an ounce. Prices, however, failed to recoup all of the 0.5% loss from the previous session.
7:09 a.m. March 8, 2021 - By Michael Ashbaugh
Market cross currents persist: Nasdaq hesitates at the breakdown point Focus: Crude oil rises amid reflation trade/geopolitics, USO, CAT, STT, AEO, ICHRU.S. stocks are mixed early Monday, vacillating amid a familiar March divergence. Against this backdrop, the Dow Jones Industrial Average has rallied within striking distance of record highs, while the recently lagging Nasdaq Composite has balked early Monday at its breakdown point.
7:50 a.m. March 5, 2021 - By Michael Ashbaugh
Charting a technical question mark, S&P 500 violates the 50-day average Focus: 10-year Treasury note yield continues to take flight, Sector leaders remain in divergence mode, TNX, XLF, IYT, QQQU.S. stocks are mixed early Friday, vacillating after a stronger-than-expected monthly jobs report. Against this backdrop, the S&P 500 has ventured under its 50-day moving average for the first time since November, though amid a downturn that gets low marks for bearish style. The prevailing bigger-picture technicals are not one-size-fits-all.
7:34 a.m. March 4, 2021 - By Michael Ashbaugh
Charting a volatile March start: S&P 500, Nasdaq reach key technical tests Focus: Charting a still bullish-leaning sector backdrop, IYT, XLF, QQQ, XLV, XLU, XLP, XLE, XLI, AMZNU.S. stocks are mixed early Thursday — though well off the session’s worst levels — vacillating amid a volatile March start. Against this backdrop, the S&P 500 is back for its latest crack at the 50-day moving average, currently 3,820, while the Nasdaq Composite has whipsawed Thursday at last-ditch support matching the 2020 peak (12,973).
8:44 a.m. Feb. 26, 2021 - By Myra P. Saefong
Gold futures down a fourth session, at lowest finish since JuneGold futures to finish the session at their lowest since June, with the recent rise in U.S. Treasury yields putting pressure on prices for the metal. "Gold always underperforms when the dollar is going up or real interest rates are rising," said Collin Plume, founder and chief executive officer of Noble Gold. The 10-year Treasury note yield eased back Friday, but had climbed to a , while the dollar has gained for the week, dulling investment demand for gold. April gold fell $46.60, or 2.6%, to settle at $1,728.80 an ounce, with prices for the most-active contract down roughly 6.6% for the month of February, according to Dow Jones Market Data. The settlement was the lowest since June 2020.
9:01 a.m. Feb. 22, 2021 - By Myra P. Saefong
Gold futures rally to highest finish in over a weekGold futures as U.S. Treasury bond yields eased back from the day's highs, prompting prices for the precious metal to settle at their highest since Feb. 12. Gold rallied as the rise in bond yields took a pause, giving the precious metal a "chance to join in the broader bull market in commodities," said Adrian Ash, director of research at BullionVault. "Rising interest rates are like kryptonite to gold, because it is so sensitive to the outlook for money's real value." The was at 1.35% after climbing to a high near 1.40%, the highest in a year. April gold rose $31, or 1.7%, to settle at $1,808.40 an ounce.
7:26 a.m. Feb. 17, 2021 - By Michael Ashbaugh
Charting market cross currents, S&P 500 pulls in to the range Cross currents across asset classes surface amid surging Treasury yields, TNX, USO, GLD, FXY, UUP, XLF, KREU.S. stocks are lower early Wednesday, pressured as the latest economic data fuel the debate regarding potential pending inflation. Against this backdrop, each big three U.S. benchmark has reversed from Tuesday’s record high, pulling in to its former range amid largely garden-variety selling pressure.
7:06 a.m. Feb. 3, 2021 - By Michael Ashbaugh
Charting a bullish reversal, S&P 500 nails the breakdown point Focus: Retail sector asserts cooling-off phase, Homebuilders hold the breakout point, XRT, XHB, CYBR, KMX, SWIR, WIXU.S. stocks are mixed early Wednesday, treading water after a solid batch of quarterly earnings reports and economic data. Against this backdrop, the S&P 500 has extended its rally from major support, rising to challenge its breakdown point (3,830).
6:48 a.m. Jan. 14, 2021 - By Michael Ashbaugh
Charting a slow-motion breakout attempt: Nasdaq, Dow industrials press record highs Focus: Homebuilders break out even amid rising interest rates, XHB, ZBRA, KSS, WSM, JNPR, FATEU.S. stocks are higher early Thursday, rising amid renewed optimism over fiscal-stimulus prospects. Against this backdrop, each big three U.S. benchmark has challenged its prevailing range top — levels defining record highs — amid a slow-motion breakout attempt.
7:53 a.m. Jan. 12, 2021 - By Michael Ashbaugh
Charting a decisive 2021 breakout: U.S. benchmarks clear 20-day volatility bands Focus: Rising interest rates and energy prices signal reflation trade, 10-year yield and crude oil take flight, TNX, USO, AMD, SEDG, CSCOTechnically speaking, the major U.S. benchmarks have asserted a near-term holding pattern, pulling in modestly from all-time highs. Still, the slight downturn punctuates previously aggressive January breakouts amid a still comfortably bullish bigger-picture backdrop.
7:29 a.m. Jan. 12, 2021 - By Michael Ashbaugh
Charting a decisive 2021 breakout: U.S. benchmarks clear 20-day volatility bands Focus: Rising interest rates and energy prices signal reflation trade, 10-year yield and crude oil take flight, TNX, USO, AMD, SEDG, CSCOTechnically speaking, the major U.S. benchmarks have asserted a near-term holding pattern, pulling in modestly from all-time highs. Still, the slight downturn punctuates previously aggressive January breakouts amid a still comfortably bullish bigger-picture backdrop.
9:07 a.m. Dec. 16, 2020 - By Myra P. Saefong
Gold posts a back-to-back gain, then moves lower in electronic trade after the Fed statementGold prices settled higher Wednesday for a second straight session, then moved lower after the it plans to keep key interest rates near zero, as expected, and will maintain bond purchases until the economy makes "substantial further progress." In electronic trading shortly after the policy announcement, gold for February delivery was at $1,855.90 an ounce. The contract had climbed $3.80, or 0.2%, to , ahead of the Fed news.
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