Market Updates

After a bumpy week, gold is back to the important psychological level of US$1,850. The Federal Reserve Bank shocked the market this week, raising rates 75 basis points instead of the expected 50 basis points, and the Swiss National Bank raised rates for the first time in 15 years.

Gold treads familiar waters this week, sticking around US$1,850 ahead of the June FOMC meeting. Silver jumps, platinum retreats, and central banks become more bullish on gold…

Gold rallied this week and remains above US$1,850, as a weaker than expected US jobs report put pressure on the US dollar. Platinum has its best week since the start of March, up almost 10% as automakers return to normal…

Overall spot gold rose 2% this week to US$1,853 per ounce, with an intra-week high of US$1,869.68. The May Federal Reserve minutes contained no surprises, with more aggressive hikes off the table for now and half-percent increases expected at the next few meetings.

Gold rose 0.50% this week to US$1,842, likely driven by technical buying as the US dollar fell from its two-decade high. Major US indices have had some of their worst falls since the early days of the pandemic, and stagflation fears grow in Asia and Europe.

Gold continued its fall this week, down 3.15% in total, though Au lost 1.6% in trading on Thursday night. Investors are seeking refuge in gold as equity markets are hit much harder. High inflation data and fears of a slowing global economy pushed equity markets down to 18-month lows overnight.

Gold has rebounded this week after the Federal Reserve Bank announced a May rate hike. Au dipped down ahead of the Fed meeting, but spot gold will close higher overall this week…

Spot gold was pushed down last week to back below US$1,900. Greenbacks remain strong as the Federal Reserve Bank is expected to increase rates at next week’s FOMC. Major currencies are falling compared to the US as pressure mounts on gold…

After rejecting US$2,000 per ounce last week, look for gold to consolidate between US$1,940–60 in the lead up to the May Fed meeting.

Spot gold traded US$10 per ounce higher on US CPI data, reaching a four-decade high. Though Au had a muted response to the high inflation numbers coming out of the US, largely because the US remains strong and real yields continue to rise. One economist says we may be nearing the peak…

Managed money positioning has declined in gold for the fourth week in a row, and gold-backed ETF inflows have eased. Gold is coming under pressure from rising real yields and falling crude prices, though it looks to have found support nearby…

Spot gold has struggled to move this week, though the yellow metal appears to be finding support around these levels. With the Fed ‘lift off’ underway, there is little noise to nudge gold in either direction. Futures positioning in gold has reduced for the third consecutive week, which contrasts with gold backed ETFs where inflows have increased.

The Russia-Ukraine conflict continues. This was unable to provide support to gold this week. US Treasury yields jumped as the Federal Reserve Bank raised rates, further dampening the enthusiasm for precious metals…

Spot gold traded above US$2,000 again this week, reaching an intra-week high of US$2,069. Ongoing conflict from Russia and inflation fears drove gold up…

Gold continues to rally amongst the Russian-Ukrainian conflict. The Australian Friday trading session has been an extremely volatile, with gold rallying to an intra-session high of US$1,951 on news of Russian shelling at a Ukrainian nuclear facility.

News of Russia’s first missile strike saw gold leap nearly 1% in five minutes, with the yellow metal extending to an intra-session high of US$1,974 shortly after Russia’s second missile assault. Gold is higher by 0.28% overall in the past seven days, however yesterday’s trading was extremely volatile.

Inflation didn’t move gold, but geopolitical tensions did. Gold’s rally this week has been driven higher on fear. Maintaining this seven-month high may be challenging unless institutional money flows into gold…

Spot gold reached its highest level overnight in two weeks as US inflation soared to a 40 year high. Fears of entrenched inflation in the US and a lack of promising signs in the recent US jobs data are leaving market watchers to speculate on just how aggressive the Federal Reserve Bank’s rate increases will be…

Gold has shrugged off the hawkish tone from the Federal Reserve Bank this week, with a handful of factors keeping gold elevated…

Gold broke above the past barrier of US$1,830s, touching the low US$1,840s overnight, pushed higher by three key factors, real rates, risk off mode and increasing geopolitical tensions…

Santa brings a gold rally: Gold popped overnight, up 0.26% to US$1,804 at the time of writing.

Gold’s leapt higher overnight in a surprising move. Some media outlets initially attributed gold’s rally to the Bank of England increasing rates (more below) however what the UK’s central bank does is unlikely to push gold higher…

Gold is clearly consolidating, after the November plunge it’s now hugging previous support. This is a positive sign.

The Federal Reserve Bank drops ‘transitory’ from their language, pushing gold down. Though the yellow metal appears to be consolidating and looking for support. This week we discover that two central banks unexpectedly increase their gold holdings, and inflation is starting to hit all corners of the markets…

After last week’s rally extending all the way up to an intraday high of US$1,877 last week, gold has pivoted at high speed and went straight back to familiar support at US$1,790s, down 3.13% for the week. Is this bad news? Perhaps not, says precious metal expert…