Dips in the U.S. dollar index and the U.S. stock market at mid-week are providing a bit of support for the safe-haven metals. Some "Fed speak" overnight also aided the metals market bulls. June gold futures were last up $3.30 an ounce at $1,276.50. july comex silver prices were last up $0.06 at $14.47 an ounce.
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· "The stock market is wanting to hear dovish speak from the Fed, whether it’s Powell or the governors or the presidents," said Willie Delwiche, investment strategist at Baird in Milwaukee. Stocks around the globe started Thursday weaker after China said three days of talks with the United States that wrapped up on Wednesday had established a.
· Gold prices have slipped again overnight as equities traded positive and the DXY rose. Spot gold now trades at $1205/oz 0.31% lower overnight with the next major support hanging around the 00/oz level. copper prices have moved 0.27% higher overnight but this is a relief retracement after big losses seen last week.
Asian stocks. fed vice chairs william dudley and Stanley Fischer are due to speak later in the day and the markets will be eager to get more details on the Fed’s thinking. Gold took the renewed.
In last week’s Gold Report, we looked at the historical relationship between the gold price in dollars and the value of the dollar as measured by the Intercontinental Exchange US dollar trade weighted.
Return To Risk Benefits Crude Prices Crude. on recent “Fed speak”. This suggests the upcoming US initial jobless claims figures (details on the economic calendar here) may face a relatively muted.
Gold prices finished higher Monday, recouping the losses suffered in the previous session on the back of a more steady U.S. dollar and a pull back in Treasury yields ahead of a busy week for appearances by Federal Reserve officials. April gold US:GCJ8 rose $2.50, or 0.2%, to settle at $1,332.80 an ounce.
Gold stocks just suffered a brutal capitulation selloff. These extreme anomalies are rare and inherently unpredictable. The resulting gold-stock prices are radically-oversold and wildly.
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Investing.com – Gold prices bounced off five-month lows on Wednesday, as the U.S. dollar weakened after tepid U.S. inflation data and ahead of the Federal Reserve’s policy decision due later in.