Gold Prices Bounce On Fed Speak, Weaker USDX, US Stocks

Gold prices are struggling despite dovish guidance from the Fed. This warns they are vulnerable if soft US retail sales data triggers haven-seeking USD demand. Gold Prices Struggle Despite Dovish Fed, US Retail Sales Data Due

The price of the yellow metal rose to a six-year high today, and is currently trading at US$1,432.80 an ounce, up US$14.10. “The biggest near-term risk event for gold is Fed speak later. equities.

Gold and silver futures prices are up and near their daily highs in early-afternoon U.S. trading Monday, supported in part by a weaker U.S. dollar index, another sell off in the U.S. stock market, and rhetoric supporting a more dovish U.S. monetary policy.

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In addition to the potential bear market in stocks, a weaker dollar could also act as a major catalyst for higher gold. The dollar index is seeing a bit of a rebound today after flirting with the $96 level yesterday. A breakdown below $96 on a closing level could set the stage for a fresh and significant leg lower that could in turn keep a strong bid in gold and other dollar-denominated asset classes.

Rallying Gold, Declining USDX, and the CoT Comments by PRZEMYSAW RADOMSKI, CFA – Sunshine Profits The US elections are over and since the markets were not surprised by their outcome, there was no significant reaction. It seems that the markets.

12 days ago · Gold prices fell in futures trade today owing to muted spot demand and lacklustre global cues. However, a weaker rupee and lower equities offset the.

 · If all is well, why is gold surging? Economic data weaker? Fed going to cut rates? Both are valid. MONDAY A sharp price rebound with weaker internals than the sharp selling into Monday. Friday the rebound accelerated, again in price terms, as the weaker jobs data (aka prompting a nearer Fed rate cut) and the administration forgoing mexican tariffs.

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Stocks did sink and then bounce back. gold. weak hands who were piggybacking on Druckenmiller all along. That’s what happened two weeks ago. Where do we go from here? Where are the new.