General bearish bias from outside market forces
(Kitco commentary) - With a fresh new high for the move in the dollar to its highest level since March 15 yesterday, the gold market is short term overbought and is facing ongoing currency-related pressure.
Precious metals commentary 4/26/2023
(Kitco commentary) - While part of the gains this morning in gold and silver are attributable to a slightly positive track across all commodities, we think flight to quality buying is present as well because of more signs that First Republic Bank might not survive.
Precious metals commentary 4/19/2023
(Kitco commentary) - A much hotter than expected 10.1% annualized inflation reading from the UK has whipped up rate hike fears again, and that has fostered a surprisingly significant risk off reaction throughout the markets.
Precious metals commentary 4/5/2023
(Kitco commentary) - Global equity markets overnight were mixed, with the number of markets trading higher barely exceeding those trading lower.
The bias is down but a major wash in gold could produce a low
(Kitco commentary) - While a risk-off theme permeates the markets this morning, the Dollar Index is tracking slightly higher and adding to the negative macro view toward commodities.
Use uptrend channel support points to initiate longs
(Kitco commentary) - Despite a bearish wave of risk-off psychology and weakness in other precious metals, the gold market is attempting to hold modest gains early today.
The bulls retain the edge unless the Fed provides a surprise
(Kitco commentary) - With the gold market this morning sitting near the highs of yesterday's upside explosion, bullishness remains in place.
Slow grind higher today with a key junction Friday morning
(Kitco commentary) - In retrospect, traders might have been too quick to conclude that the Fed is softening its rate stance. That seemed to be on traders' minds earlier this week with the recent pattern of strong US economic data.
Less hawkish Fed undermines $ & lowers US yields bullish to metals
(Kitco commentary) - The gold market rally is impressive this morning, seeing it happen without definitive weakness in the dollar should embolden the bull camp.
Trend is down with a bearish conundrum of rising rates/recession
(Kitco commentary) - With the dollar index posting a six-day high overnight, traders should expect new contract highs in the coming sessions, even though a lack of critical US economic data today might limit activity in the currency markets.
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