Price pullbacks for gold, silver following recent gains
Live Spot Gold SPOT MARKET IS OPEN closes in 4 hrs. 56 mins. Oct 21,…
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Gold, silver see solid price gains as USDX drops
Live Spot Gold SPOT MARKET IS OPEN closes in 5 hrs. 16 mins. Oct 19,…
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Kitco News) – Gold and silver prices solidly higher in early U.S. trading Tuesday, with silver notching a four-week high. A drop in the U.S. dollar index on this day and more bullish near-term chart postures for both metals are inviting buyers to step up. December gold futures were last up $16.80 at $1,782.10. December Comex silver was last up $0.681 at $23.945 an ounce. Global stock markets were mostly higher in overnight trading. The U.S. stock indexes are pointed to higher openings when the New York day session begins. Still near the front burner of the marketplace is the global supplies shortage and transportation bottlenecks that have many of those supplies’ prices rising, including energy. Many industrial metals prices are soaring, including copper, aluminum and magnesium. Nymex crude oil prices are higher and hit a seven-year high of $83.58 a barrel overnight. Natural gas prices are also at very elevated levels. As winter approaches in the Northern Hemisphere, amid the rising energy costs and worries in some countries about securing winter heating needs, it seems “Murphy’s law” will almost certainly come into play: a much harsher-than-normal winter for many countries in the Northern Hemisphere. The other key outside market today sees the U.S. dollar index solidly lower and hitting a three-week low. Meantime, the 10-year U.S. Treasury note yield is presently fetching 1.597%. For perspective, the U.K. 10-year gilt yield is presently 1.135% and the German 10-year bund yield is at -0.144%. U.S. economic data due for release Tuesday includes the weekly chain store and Johnson Redbook retail reports, and new residential construction. Live 24 hours gold chart [Kitco Inc.] Technically, December gold futures bulls have the slight overall near-term technical advantage as prices are trending higher on the daily chart. Bulls’ next upside price objective is to produce a close above solid resistance at the October high of $1,801.90. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the September low of $1,721.10. First resistance is seen at $1,788.40 and then at $1,800.00. First support is seen at $1,775.00 and then at today’s low of $1,763.40. Wyckoff’s Market Rating: 5.5 Live 24 hours silver chart [ Kitco Inc. ] The silver bulls have gained the overall near-term technical advantage. Prices are is a three-week-old uptrend. Silver bulls’ next upside price objective is closing December futures prices above solid technical resistance at $25.00 an ounce. The next downside price objective for the bears is closing prices below solid support at $22.50. First resistance is seen at $24.00 and then at $24.25. Next support is seen at $23.645 and then at $23.50
Live Spot Gold SPOT MARKET IS OPEN closes in 5 hrs. 16 mins. Oct 19,…
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Gold and silver buy the dip
Live Spot Gold SPOT MARKET IS OPEN closes in 5 hrs. 8 mins. Oct 18,…
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Gold hits the $1800/oz resistance
Live Spot Gold SPOT MARKET IS OPEN closes in 5 hrs. 38 mins. Oct 15,…
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Gold, silver hit 4-wk highs, more upside price action likely
Live Spot Gold SPOT MARKET IS OPEN closes in 6 hrs. Oct 14, 2021 11:00…
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Gold price sees $20 swings as inflation accelerates slightly in September
Live Spot Gold SPOT MARKET IS OPEN closes in 4 hrs. 23 mins. Oct 13,…
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Gold price steady-weak amid firmer USDX, U.S. stock indexes
Live Spot Gold SPOT MARKET IS OPEN closes in 7 hrs. 39 mins. Oct 12,…
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Gold price weaker as bond yields continue to rise
Live Spot Gold SPOT MARKET IS OPEN closes in 4 hrs. 57 mins. Oct 11,…
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Gold price headed to $5,500 in the long term as central banks won’t be able to exit unorthodox monetary policies – Jefferies
Live Spot Gold SPOT MARKET IS CLOSED opens in 19 hrs. 51 mins. Oct 08,…
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