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Gold bounces back after month long low

ByVictoria

Markets initially dropped after Fed Chair Jerome Powell hinted at fewer rate cuts next year, but quickly recovered as investors recognized this aligned with recent expectations, said StoneX analyst Rhona O’Connell.

“Gold sold off, showcasing once more that it is not an inflation hedge per se, but regained some lost ground on a threatened U.S. government shutdown,” said Carsten Menke, analyst at Julius Baer.

Source – Reuters https://www.reuters.com/markets/commodities/gold-recovers-one-month-low-short-covering-2024-12-19/

More!

“Gold is reacting to a sharp rise in the U.S. dollar after a hawkish Fed cut,” said Michael Armbruster, co-founder and managing partner at Altavest. Source – Market Watch https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-rise-ahead-of-final-rate-decision-and-economic-forecast-of-the-year/card/gold-futures-decline-after-fed-announcement-WFThfHDv2mQxezfnO3an

“Despite the pullback we’ve seen in gold prices following yesterday’s Fed statement, we believe gold’s positive momentum will continue in the short to medium term,” Manthey said by email. Source – CNBC https://www.msn.com/en-us/money/other/the-fed-s-hawkish-signal-sparked-gold-jitters-but-analysts-see-support-for-the-precious-metal-in-2025/ar-AA1wajju?ocid=socialshare

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    Gold prices and futures up

    ByVictoria
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    As economic uncertainty deepens worldwide, gold prices have notched more and more record highs.

    The going price for New York spot gold hit a record $3,424.24 per troy ounce — the standard for measuring precious metals — as of close Monday. That’s about $1,097 higher than a year ago.

    The price of spot gold is up more than 30% since the start of 2025, per the data firm FactSet. By contrast, the stock market has tumbled. The benchmark S&P 500 is down over 12% this year.

    Gold futures also reached a record early Tuesday, briefly surpassing the $3,500 mark for the first time before falling closer to $3,444 by mid-morning.

    Source – The Associated Press

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    Gold up amidst Israel – Iran conflict

    ByVictoria
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    Spot gold was up 0.2% at $3,374.54 an ounce, as of 0505 GMT. U.S. gold futures eased 0.5% to $3,391.90.

    “Gold has made a modest bounce as we await the next steps in the Israel-Iran conflict. If the U.S. does decide to get directly involved in the conflict this could raise the geopolitical stakes,” KCM Trade Chief Market Analyst Tim Waterer said.

    “The Fed was not as dovish as some had hoped, and I’d argue Powell was a tad more hawkish than many would like. The U.S. dollar is likely at oversold levels, and that is likely to cap gains on gold over the next few weeks,” said Matt Simpson, a senior analyst at City Index.

    Source – Reuters

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    Over the Weekend News!

    ByVictoria
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    Stealth Fed Dollar Crisis Predicted To Spark A Bitcoin Price Boom To Rival Gold

    “Current inflation measures, such as consumer price index (CPI) and producer price index (PPI), are significantly lower than previous 40-year highs. However, they remain ‘stubborn’ or ‘sticky,’ resisting a return to the central bank’s preferred 2% target,” Fidelity Digital Assets research director Chris Kuiper wrote in a report that asked: “Why is no one talking about stagflation?”—defined as a combination of low economic growth and persistently high inflation.

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    Silver futures high 6/5/2025

    ByVictoria
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    Silver futures rose as high as $36.27 per troy ounce on Thursday, notching the highest price for the metal since early 2012. Silver futures were last up more than 3% on the day $35.82 per troy ounce.

    Silver has been a high performing asset in 2025 and is now up more than 20% year to date. That is still lagging the move in gold, however, which has jumped about 28%.

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    Investment banks raise gold forecasts

    ByVictoria
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    UBS and Commerzbank raised their gold price forecasts on Friday, joining other investment banks as investors drive the safe-haven metal to record highs amid the economic uncertainty sparked by U.S. President Donald Trump’s trade policies.

    Trump’s tariffs have roiled financial markets, stoking fears of inflation and a global recession. While he has paused most duties, he has hiked those on China to 145%, prompting Beijing to lift its tariffs on U.S. goods to 125%.

    “We expect gold’s rally to extend into next year and for prices to stabilise at higher levels further out,” UBS analysts said in a note

    Source – Reuters

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    Silver stays strong

    ByVictoria
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    The silver market has seen a lot of noise at the $33 level, as it is a major resistance level from what I can see. At this point, you need to understand that the silver market is not just a precious metal, but an industrial one.

    Source – FX Empire