Market Updates
Keep up-to-date in the past week’s price action and the current geopolitical and economic factors driving the international and local precious metal markets.
Stocks fall and gold rallies
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.
Gold soars as Russia invades Ukraine
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.
Invasion threat lifts gold
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…
Gold at a two-week high
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 looks sturdy at US$1,800
Gold has shrugged off the hawkish tone from the Federal Reserve Bank this week, with a handful of factors keeping gold elevated…
Gold breaks through past resistance
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…
Will 2022 be good for gold?
Santa brings a gold rally: Gold popped overnight, up 0.26% to US$1,804 at the time of writing.
Fed sets out a plan and gold agrees
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…
Australians, your moment to buy gold is here!
Gold is clearly consolidating, after the November plunge it’s now hugging previous support. This is a positive sign.
Gold consolidates as Fed admits they’re wrong
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…
Gold Down but not out
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…
Did big money just bet on gold?
Gold pauses this week after last week’s rally. While the yellow metal did give the US$1,870 price level a nudge on Wednesday, it’s dipped back to US$1,859 at the time of writing, leaving us with a gain of 0.50%...but one expert says there’s room for the metal to run.
Patient gold bulls are rewarded this week
The world’s favourite precious metal did what it does best this week, rewarding patient investors with an incredible rally on the back of critical economic data. This news lifted precious metals across the board as investors turned to traditional safe haven assets. But it’s Australian gold investors that received the biggest gift…
Fed tapers but gold stays firm
The Australian dollar did a sharp U-turn during the week, falling from 75 US cents to 73.88 US cents at the time of writing. This 1.5% drop lifted the Australian gold price above AU$2,400 this week, taking it near AU$2,430 – a three week high.
Time for gold to pop
Gold’s trading range continues to narrow. This week the yellow metal has barely moved US$30 per ounce. The good news is that gold has managed to hold onto some of last week’s momentum and the tight trading range may be a sign of consolidation plus its keeping gold above a key area of support…
Inflation runs hot and bids up gold
Gold has broken higher and meets some pas resistance.
A strong move up this week. Perhaps it's time for some cautious optimism...
Gold hugs key price level
Another week of minimal price action. Gold continues to hug the key price level of US$1,750. The yellow metal appears reluctant to budge until the markets receive the US Nonfarm payroll data. The gold price may not be moving, but there are lots of people keen to snap up the precious metal at these levels…
Gold finds support – can it hold?
We’re looking at our third rough week for the spot gold price. The US dollar continues to strengthen. The hawkish tone coming from the Federal Reserve Bank is snuffing out any gold rally, and the US markets are largely unconcerned about contagion from Chinese real estate developer Evergrande defaulting…
Three reasons gold could rise
Fed lays out tapering schedule, All isn’t lost bulls,Outliers that may spark a gold rally, Gold versus the global money supply,
Demand for precious metals will triple says expert
The yellow metal continues to demonstrate its sensitivity to the US economy, rather than emerging problems in the financial system. Gold’s dip overnight now puts the price in no man’s land. No major data is expected to nudge the metal in either direction. Don’t let short term price movements cloud your decisions though, as it appears gold outperforms in the long run…
The Precious Metal Outperforming Gold and Silver
Gold giveth then taketh away. The yellow metal was buoyant on the back of Jackson Hole. Not long after we hit the publish button, gold got its second wind from disappointing US jobs data for the month of August. The problem is, got stuck by the on the pesky US$1,830 level…
Gold Price Heading Up
Jackson Hole was anticlimactic. Comments from Federal Reserve Bank chairman, Herome Powell were unexpectedly dovish.
Gold at the mercy of Fed
The gold market is paused this week awaiting news from the Federal Reserve Bank meeting at Jackson Hole this month.
No news is expected until early Saturday morning Australian Eastern Standard Time (AEST). Gold may be stuck until a catalyst causes it to break out…
Gold Recovers: Where to Next?
Gold remains resilient. The flash crash didn’t drive gold below the key support level of US$1,680, which means this likely the floor for this price cycle. The near 8% fall of two weeks ago is a distant memory. The gold price in US dollars has a strong rebound and is currently trading at US$1,783, but there are key levels to watch…
Gold dips as the bulls take a breath
Gold dropped but the long term fundamentals hold. US NonFarm numbers were significantly higher than expected. Good US domestic data does not mitigate broader global concerns.
Analysts are not yet in a ‘risk on’ frame of mind. The focus for many will now be on the strengthening US dollar, interest rate differentials and the hawkish comments from the Federal Reserve Bank…