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Daily Gold News: Friday, June 19 – Mixed Economic Data, Gold Continues Sideways

The gold futures contract lost 0.26% on Thursday, as it further extended its short-term consolidation slightly below the price level of $1,750. Powell ’s testimonies on Wednesday and Thursday didn’t bring any new surprises for the financial m...

Daily Gold News: Monday, June 22 – Gold Closer to Medium-Term High

The gold futures contract gained 1.27% on Friday, as it broke slightly above the price level of $1,750. Last week’s Powell ’s testimonies on Wednesday, Thursday and his Friday’s speech didn’t bring any new surp...

Daily Gold News: Tuesday, June 23 – Gold Close to Yearly High Again

The gold futures contract gained 0.76% on Monday, as it extended its Friday’s advance of 1.3%. The market has remained above the price level of $1,750. Last week’s Powell ’s testimonies on Wednesday, Thursday and his Friday&Cl...

Daily Gold News: Wednesday, June 24 – Gold Crawling Higher but Precious Metals Mixed

The gold futures contract gained 0.88% on Tuesday, as it further extended its last Friday’s advance. The market got closer to $1,800 mark. Last week’s Powell ’s testimonies on Wednesday, Thursday and his Friday&CloseCurlyQuote...

Will Fed‘s Cap On Interest Rates Trigger Gold’s Rally?

Last week, the FOMC released the minutes from its last meeting. What implications do they carry for the gold market? FOMC Finally Acknowledges the Situation As Serious Last week, the FOMC has published minutes of its meeting from April 28-29. They show that the Fed...

Crude Oil Meets Key Resistance

Crude oil moved above the previous highs and at the moment of writing these words, it’s testing the upper border of the March price gap. And given the fundamental news that are reaching (and likely to reach) the market – the increasing Covid-19 cases in the U...

Calm and Boredom Before The Storm Tomorrow? Not in the Least!

Currency market participants look cautious before tomorrow’s big day of the Fed pronouncements. Looks reasonable but even guarded moves can give telling signs. Of where the action is now and where it’s likely to go next, to paraphrase one famous...

Downward Reversal in Oil Is Knocking on the Door

Crude oil hasn’t closed higher yesterday and the previous series of rallies appears to face stiff headwinds. Is this it, or can the oil bulls pull a rabbit out of their hats? After all, they’ve reversed Monday’s downswing already...

The Potential for a Stock Rebound

Yesterday’s session in stocks was a true bloodbath that extended well into today’s overnight sessions. It offered two glimmers of hope: one very temporary that came shortly after we exited our tremendously profitable short position, and the othe...

Today's Key Move in Oil

At the moment of writing these words, crude oil is attempting to break above its 50% Fibonacci retracement level. So far, it has been trading above it for just a few hours, so one better remain skeptical about this move just yet. At the same time, crude oil moved abov...
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