Latest News and Articles
-
Gold Market Report – May 09, 2024
Overnight: Gold was fairly steady overnight and traded narrowly between $2307 – $2320. The yellow metal was largely able to shrug off some potentially bearish developments, and find support ahead of yesterday’s $2304 low: Weaker equities were gold supportive, however, with S&P futures off 18 to 5195. Losses at Arm (guided lower), Airbnb (disappointing guidance),…
-
Gold Market Report – May 08, 2024
Overnight: Gold was a bit choppy last night and either side of unch ($2314), trading between $2304 – $2321. It was pressured on the downside by an improving US dollar, as the DX advanced from 105.41 – 105.64. The greenback was helped by: However, gold was supported by a rate cut by the Sweeden’s Riksbank…
-
Gold Market Report – May 07, 2024
Overnight: Gold traded lower last night, declining in a range of $2330 – $2310. It faded strength in the US dollar as the DX improved from 105.03 – 105.31. The greenback was helped by: Though the US 2yr yield was either side of unch (4.822%), the US 10yr yield was a bit lower and gold…
-
Gold Market Report – May 03, 2024
Overnight: Gold was steady overnight, trading narrowly and either side of unchanged ($2304) between $2297 – $2309, awaiting the US Payroll Report. A lack of significant overseas economic reports, and with the Bank of Japan holding its fire last night, currency markets / US dollar provided little direction for gold (DX stable but with a…
-
Gold Market Report – May 02, 2024
Overnight: Range $2295 – $2326 After a pullback from its dovish Powell inspired high of $2328 to $2307, gold was lifted back to $2326 late yesterday afternoon by currency intervention by the BOJ. The Bank intervened for the 2nd time this week (this one around around $23B), trying to add / pile on to yen strength…
-
Gold Market Report – May 01, 2024
Overnight Activity Gold showed more stability last night coming off its $49 decline yesterday, but lacked a significant corrective bounce. It traded a bit more narrowly and either side of unchanged ($2286) in a range of $2282 – $2297 ahead of this afternoon’s FOMC announcement and Powell Presser. The yellow metal slipped to its $2282…
-
Why Gold is More Than Just an Investment – It’s Essential Protection
Gold has reached record highs, baffling many in the financial press, but not me. The common misconception that gold should underperform in a high-interest rate environment, due to its lack of dividends, overlooks a critical fact: these interest-bearing financial instruments have become significantly riskier. Rising interest rates have escalated the financial burden on issuers like…