Palladium showing signs of life
(Kitco News) - Palladium is trading 2.69% higher on Thursday and looks to be moving in a nice trend on the 4-hour chart below. The price has been using the grey uptrend line as support and the price is now heading to some critical areas.
U.K. PM Johnson is set to resign - Who is odds on to come in next?
(Kitco News) - Turmoil in the U.K. government this morning after Prime Minister Boris Johnson announced his intention to resign. Johnson has been under heavy pressure over the last month or so after his own (Conservative) party called a no-confidence vote and prominent ministers including Chancellor Rishi Sunak quit.
Gold and silver trade higher ahead of the European open
(Kitco News) - Gold (0.36%) and silver (0.74%) are trading higher this morning ahead of the European cash open. In the rest of the commodities complex, copper (0.88%) and spot WTI (0.55%) are both trading in the black.
Gold is still heading to support levels
(Kitco News) - Gold is trading flat on Wednesday and still seems to be heading to support levels. On the daily chart below the price has broken through the volume point of control (on the volume profile indicator) and is moving to the next support at $1750.78/oz.
Gold retraces very slightly ahead of the European open
(Kitco News) - After a tough session on Tuesday gold is trading 0.06% higher leading into the European open. Silver is down just over 1%. In the rest of the commodities complex, copper is down 2.40% and spot WTI has lost 0.60%.
Gold imports to India surge
(Kitco News) - Gold imports to India in June nearly trebled from year-ago levels due to the correction in prices and as jewelers replenished inventories after robust sales during a key festival, a government source said on Tuesday (Reuters report).
EUR/USD breaks below 1.03 but gold holds firm
(Kitco News) - EUR/USD has just broken a massive support zone from early 2017. There has been a fresh wave of selling pressure in the pair as the U.S. dollar strengthened this morning. Interestingly it didn't affect gold as much as all the major FX pairs.
Gold and silver trade higher leading into the European open
(Kitco News) - Gold (0.07%) and silver (0.62%) are both trading above flat heading into the European open. In the rest of the commodities complex, copper (-0.52%) and spot WTI (-0.75%) both traded in the red.
More ECB rate hike talk today
(Kitco News) - More talk about hikes from the ECB today. This comes after two weeks of plugging rate rises. There just seems to be some confusion about the speed and timing. A 25 bps hike is expected in July but the size beyond that is in question.
The gold vs silver ratio hits a 2 year high
(Kitco News) - The gold/silver ratio has hit a 2 year high. Silver has been moving lower in recent sessions and has recently taken out significant support at $20.46/oz. Gold has also been looking subdued but the consolidation low is still holding.
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