Gold Bearish Medium To Long-term, Short-Term Undecided – Triland Metals
Triland Metals analysts note that while gold hovers around $1,200/oz, the metal has been unable to bring in any influential action. “[T]he market remains bearish in the long and medium term but short-term direction is undecided,” they say.
Growing Concerns Of Greek Default Failing To Move Gold – Analysts
(Kitco News) – Despite the growing uncertainty in Europe, gold has been unable to attract any safe-haven demand, hovering below the key resistance area of $1,200 an ounce.
Read moreGold Falls Below Unchanged on Technical Selling Pressure
Gold prices have drifted lower and have fallen below unchanged levels on the day Thursday, after holding modest gains early on and in overnight trading.
The overall near-term technical posture of the gold market remains bearish, which has also encoura…
Philly Fed Manufacturing Index Rises To 7.5 In April
(Kitco News) -The headline index for the survey of manufacturing from the Philadelphia area rebounded in April, ending a four-month losing streak, according to the Philadelphia Federal Reserve.
Read moreGold Firmer on Bargain Hunting, Short Covering
Gold prices are modestly higher in early U.S. trading Thursday, on some bargain hunting in the cash, or spot, market and some short covering in the Comex futures market.
Read moreU.S. Weekly Jobless Claims Rise To 294K
(Kitco News) – First-time weekly jobless claims in the U.S. rose by 12,000 to a seasonally adjusted 294,000 during the week to Saturday, the Labor Department said Thursday.
Read moreThe 6 P.M. Recap With Gary Wagner: The Green And The Gold And The Fed
Let’s start with the U.S. dollar today. It fell against major currencies and helped put a tiger in the tank of precious metals trading. It pushed the entire complex up by a third of a percentage point all on its own.
No Ammunition For Fed Rates Hikes Will Be Positive For Gold – ETF Securities
(Kitco News) – Gold held its own during the first quarter in the face of a stronger U.S. dollar and it’s that resilience that could create some momentum if the conversation about potential interest rate hikes turns to “if” from “when,” according to one analyst.
Commodities Awaiting Another “Flush Out” – Triland Metals
It seems as though the commodity sector is headed lower, say analysts at Triland Metals. “Inventories have given crude another lift today and that seems to be helping the precious bid but it still feels as though the commodity sector is awaiting another flush out,” they say. “Gold seems to be gravitating towards $1200 again […] and there appears to be some neckline resistance at $1198 from a short term head and shoulders formation,” they add.
Gold Firmer on Short Covering, Bargain Hunting, and as U.S. Dollar Index Backs Down
Gold prices ended the U.S. trading session modestly higher Wednesday. Some weaker-than-expected U.S. economic data released Wednesday morning prompted some short- covering and bargain-hunting buying interest in gold. Also, the U.S. dollar index backed…
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