commodities

Wall Street flips firmly bullish after gold’s late-week recovery, Main Street sentiment sours with jobs data on deck teaser image
Gold

Wall Street flips firmly bullish after gold’s late-week recovery, Main Street sentiment sours with jobs data on deck

The latest Kitco News Weekly Gold Survey showed Wall Street feeling fresh optimism about gold’s near-term prospects, while Main Street sentiment slid into bearish territory despite gold’s late-week rebound.
Gold

Hong Kong’s share of global gold, wealth flows is rising fast as China’s market evolves

(Kitco News) – Hong Kong is quickly increasing its share of the global gold and investment market as it leverages its unique geographical and financial advantages to support China’s economic and financial growth, and the latest data and projections indicate that the trend is likely to accelerate in the coming years.
Gold

Gold is just taking a breath and the race is not over - Midas Discovery Fund’s Winmill

(Kitco News) - The gold market has taken another hit with prices dropping below $4,500 and testing critical long-term support at its 200-day moving average.
Gold

Gold price finding new support as U.S. New home sales drop 6.2% in April

(Kitco News) - The gold market is finding some bullish support following disappointing economic growth in the first quarter, and the precious metal could attract further bids after weaker-than-expected U.S. new home sales data.
Gold price bounces off its lows as U.S. economy grows 1.6% in Q1, core PCE rises 3.3% teaser image
Gold

Gold price bounces off its lows as U.S. economy grows 1.6% in Q1, core PCE rises 3.3%

(Kitco News) - The gold market has managed to bounce off its session lows but remains under significant selling pressure, even as the U.S. economy continues to cool and inflation pressures remain relatively muted — conditions analysts say could give the Federal Reserve room to cut interest rates by the end of the year.
Gold off session lows after U.S. durable goods rise 7.9% in April teaser image
Economy

Gold off session lows after U.S. durable goods rise 7.9% in April

(Kitco News) - The gold market is rising from session lows below $4,400 per ounce after the latest economic data showed sales of durable goods last month beat expectations.The Commerce Department announced Thursday that U.S. durable goods orders rose 7.9% in April, following March’s revised increase of 1.3%. The data was far higher than expected, as the consensus view of economists called for an increase of 3.5%.
Spot gold struggles to reclaim $4,400/oz after U.S. weekly jobless claims rise to 215k teaser image
Economy

Spot gold struggles to reclaim $4,400/oz after U.S. weekly jobless claims rise to 215k

(Kitco News) - Gold prices were struggling to reclaim $4,400 per ounce on Thursday morning following the release of worse-than-expected labor market data after the number of Americans filing new claims for unemployment benefits were above economists’ forecasts.
Gold breaks $4,400 as U.S.-Iran strikes revive oil inflation risk - Kitco AM Report teaser image
Gold

Gold breaks $4,400 as U.S.-Iran strikes revive oil inflation risk - Kitco AM Report

(Kitco NewsWire) - Spot gold and silver prices are sharply lower in early U.S. trading Thursday, as a firmer U.S. dollar and renewed U.S.-Iran tensions offset support from lower Treasury yields.
Gold tests $4,450 as stocks hit records, oil drops - Kitco PM Report teaser image
Gold

Gold tests $4,450 as stocks hit records, oil drops - Kitco PM Report

(Kitco NewsWire) - Spot gold prices are down and spot silver prices are sharply lower after the close Wednesday, as a sharp drop in crude oil and record U.S. equity closes reduced safe-haven demand tied to the Strait of Hormuz. At the time of writing, spot gold was trading near $4,454.80 an ounce, down 1.17%, while spot silver was trading near $74.665, down 3.00% on the session.