Since our last market round-up in early November gold has been on something of a rollercoaster, rising from $1,816 to as much as $1,874, sliding lower to $1,780 by the 23rd of the month and then putting in a volatile performance last Thursday and Friday, along with much of the rest of the financial sector, […]
Gold heavy falls last week and this week will be nervous
The much-awaited next meeting of the Federal Open Market Committee is this week, the 21st and 22nd of September and the tone is becoming increasingly hawkish. As we noted last week, this meeting is one of the four during the year in which economic projections are published, including the “dot plot” which charts each member’s […]
Gold more resilient than the headlines suggested last week
Last week we were looking back at the heavy fall, subsequently unwound, in gold the previous Monday in the so-called “flash crash” which took over $100 or just over 1% off the price. The CFTC numbers for Commitment of Traders, released on the Friday of that week, relate to a trading week ending on Tuesday […]
Gold down last week but reasserting in risk-off ode this morning. Mixed emotions.
Last week saw gold stage its first weekly decline since the big clear-out after the Federal Open Market Committee (FOMC)’s mid-June meeting, but while this fact is catching the headlines the bigger picture shows gold continuing in a period of consolidation in a narrow range centred on $1,800. The technical construction on the chart suggests […]
Gold’s technical picture is improving; silver is more sluggish.
When we last wrote this column a fortnight ago gold and the bond markets had both heavily overreacted to the Statement following the Federal Reserve’s Open Market Committee (FOMC) meeting, with gold prices falling heavily and the bond yield curves initially steepening. It didn’t take very long for the bonds to settle down and the […]
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