Gold, silver slump after strong U.S. data rallies greenback gold silver data
- Gold prices are solidly lower and hit a two-week low in midday U.S. trading Thursday. Silver is down sharply, too. Modest overnight gains in both metals were erased after the release of upbeat U.S. economic data this morning that beat market expectations. August gold was last down $27.10 at $1,943.00 and September silver was down $0.645 at $24.325.
The marketplace Thursday pretty much digested Wednesday afternoon's 25 basis-point interest rate increase from the Federal Reserve. Fed Chair Powell's remarks at his press conference were deemed not too hawkish and not too dovish and the markets showed no big reactions. Some Fed watchers are thinking the central bank is now done with its rate-hike cycle, while others think the Fed will do one more rate increase in November.
In other news, the European Central Bank slightly raised its main interest rate at today's monetary policy meeting, as expected. Technically, August gold futures prices scored a bearish outside day down today and hit a two-week low. Bulls have lost their slight overall near-term technical advantage. A three-week-old uptrend on the daily bar chart has been negated. Bulls' next upside price objective is to produce a close above solid resistance at $2,000.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the June low of $1,900.60.
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.
China's gold consumption surges 16% in H1 2023, gold output grows by 2%(Kitco News) - China saw slight growth in its gold output and a sharp increase in its gold consumption during the first half of 2023, the China Gold Association (CGA) announced on Tuesday.
Lire la suite »
Expect Volatility, expect uncertainty, even with a 98.9% probability of ¼% hikeExclusive to Kitco News, technical analyst Gary Wagner provides a daily recap of what happened in the gold market, highlighting important events that captured investors' attention during the U.S. trading session. Wagner's commentary features a mix of fundamental news and technical analysis, noting important support and resistance levels.
Lire la suite »
Fed announces expected ¼% rate hike - and his comments were classic PowellExclusive to Kitco News, technical analyst Gary Wagner provides a daily recap of what happened in the gold market, highlighting important events that captured investors' attention during the U.S. trading session. Wagner's commentary features a mix of fundamental news and technical analysis, noting important support and resistance levels.
Lire la suite »
ESPN Soccer Analyst Shaka Hislop Collapses On Live TVESPN soccer analyst Shaka Hislop had a terrifying incident over the weekend after he collapsed on live TV while speaking during the Real Madrid vs. AC Milan pre-game show. 24-hours after the incident, the former goalie spoke out and shared a health update with his fans.
Lire la suite »
Analyst talks opportunities in industrial stocks - BNN BloombergThe TSX industrials sector has outperformed the index at large through the past year and this strength is likely to continue for some stocks, one analyst says.
Lire la suite »