Live Spot Gold
SPOT MARKET IS OPEN
closes in 2 hrs. 30 mins.Mar 22, 2022 14:30 NY Time
| Bid/Ask | 1922.60 / 1923.60 | |
| Low/High | 1910.10 / 1940.60 | |
| Change | -13.40 | -0.69% |
| 30daychg | +23.40 | +1.23% |
| 1yearchg | +183.30 | +10.54% |
| Alerts Charts |
Silver Price & PGMs
Mar 22, 2022 14:30 NY TimeKitco 10AM Silver Fix
(Kitco News, Tues. Mar. 22nd, 2022) – Gold and silver prices are weaker in midday U.S. trading Tuesday. Sharply rising U.S. Treasury yields are putting pressure on the precious metals markets, as well as the recent rally in the U.S. stock indexes. April gold futures were last down $10.80 at $1,918.50 and May Comex silver was last down $0.423 at $24.88 an ounce.
The U.S. Treasury markets are under more solid selling pressure Tuesday, following the hawkish rhetoric coming from Federal Reserve Chairman Jerome Powell on Monday at a NABE speech. The Fed chief said he is prepared to raise the key U.S. interest rate by 0.5% if conditions warrant. The Fed did a 0.25% rate hike last week. Powell also implied that the fight to keep inflation under control is important enough to risk slowing down U.S. economic growth in that effort.
Global stocks markets were mostly higher overnight. The U.S. stock indexes are higher at midday and have seen impressive gains recently. The Russia-Ukraine war situation has not changed much recently, so risk aversion in the marketplace remains somewhat elevated. President Biden Thursday meets with NATO and EU leaders to discuss Russia’s invasion of Ukraine. The two-day summit will be held at NATO headquarters in Brussels.
The key outside markets see Nymex crude oil prices lower and trading around $110.00 a barrel. Oil prices are rising sharply again on ideas the European Union is moving closer to banning oil imports from Russia. The U.S. dollar index is slightly down today. The benchmark U.S. 10-year Treasury note is presently yielding 2.38%–near an almost three-year high.
![Live 24 hours gold chart [Kitco Inc.]](https://www.kitco.com/images/live/gold.gif?0.2924175530478188)
Technically, April gold futures bulls have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $2,000.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,850.00. First resistance is seen at this week’s high of $1,941.80 and then at $1,950.00. First support is seen at today’s low of $1,909.80 and then at $1,900.00.
![Live 24 hours silver chart [ Kitco Inc. ]](https://www.kitco.com/images/live/silver.gif)
May silver futures prices scored a bearish “outside day” down on the daily bar chart today. The silver bulls have the overall near-term technical advantage. Silver bulls’ next upside price objective is closing prices above solid technical resistance at $26.00 an ounce. The next downside price objective for the bears is closing prices below solid support at $24.00. First resistance is seen at $25.25 and then at $25.50. Next support is seen at today’s low of $24.695 and then at last week’s low of $24.55. Wyckoff’s Market Rating: 6.0.
May N.Y. copper closed down 195 points at 469.10 cents today. Prices closed nearer the session low today. The copper bulls have the overall near-term technical advantage. Copper bulls’ next upside price objective is pushing and closing prices above solid technical resistance at 490.00 cents. The next downside price objective for the bears is closing prices below solid technical support at the March low of 446.85 cents. First resistance is seen at today’s high of 476.90 cents and then at 480.00 cents. First support is seen at this week’s low of 465.60 cents and then at 460.00 cents.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com