Senior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
- Gold and silver prices are lower in midday U.S. trading Wednesday, as technical selling is featured amid a lack of fresh fundamental news to drive prices. Gold and silver see their near-term technical postures bearish. A strong U.S. dollar and elevated U.S. Treasury yields are bearish outside market elements working against the precious metals market bulls recently. December gold was last down $9.70 at $1,943.10 and December silver was down $0.408 at $23.465.
--Rising gasoline prices at the pump dent consumer confidence and reduce other discretionary buying by consumers. That would mean less demand for many raw commodities. That’s also bearish for the stock market—right during the historically turbulent months of September and October. --Or, will the Federal Reserve have to continue pushing U.S. interest rates higher than they expected as higher energy costs drive up inflation again? “This move by OPEC+ will, of course, be considered by central banks when formulating monetary policy," said Nigel Green of the deVere Group. “If rising oil prices are expected to have a sustained impact on inflation, central banks can be expected to maintain higher interest rates for longer to control soaring prices.
Crude oil is a major element that impacts most markets. Traders and investors need to keep an extra close eye on the crude oil market in the coming weeks.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Don't buy stocks until these 2 signals flash, technical analyst says'The DeMARK Indicators support a few days of consolidation and intermediate-term momentum remains to the downside,' Katie Stockton said.
Lire la suite »
Senior Financial AnalystThe Organization Group Health Centre is a progressive multi-speciality ambulatory care health care organization and is one of Canada’s first consumer-sponsored health care facilities.
Lire la suite »
Miner's Drilldown: Weekly technical analysis of the top 10 gold and mining stocksKitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Lire la suite »
Gold SWOT: Gold held around the highest in three weeks to kick off SeptemberCommentaries from industry expert Frank Holmes focusing on gold price movements, what's moving markets and what to expect in the metals sector. This includes his weekly Gold SWOT analysis, which is also featured in his own Kitco News show Gold Game Film
Lire la suite »
Spot bitcoin ETF approval unlikely this year, says analystOn this week's episode of Yahoo Finance's The Crypto Mile, our host Brian McGleenon is joined by Lory Kehoe, a former director at Coinbase, the head of Blockchain Ireland, and an adjunct professor at Trinity College Dublin. Lory delves into Grayscale Investments' recent legal win in its pursuit of a spot bitcoin ETF. Just last week, a US Court of Appeals panel ruled that the SEC improperly rejected Grayscale's ETF application without providing an adequate explanation. With the US regulatory body now ordered to review its earlier decision, Lory discusses the ramifications of this pivotal ruling for the future of cryptocurrency investments, including the likelihood of a spot bitcoin ETF being approved in 2024.
Lire la suite »