Today's Gold and Silver News - June 29

• Gold and silver are trading flat leading into the European open

Gold and silver are trading flat this morning leading into the European cash open. Gold has been very choppy for the last seven sessions since the post FOMC drop trading within a range between $1761.04/oz and $1797.21/oz. Silver has been pretty similar and has just retaken the $26/oz level and it looks like decision time. In the rest of the commodities complex, copper has moved -0.73% lower and spot WTI trades flat after falling 1.65% on Monday. Read More

• Deutsche Bank sees some moderate upside in gold

Analysts at Deutsche Bank have commented on gold and think it could be tough going for the precious metal. With recent price action being bearish and the Fed turning more hawkish we say a pretty prominent drop. Today the yellow metal trades at $1772/oz down 0.34%. 

The team says “Inflation worries have not shifted market dynamics greatly. Recent gold price rises have been modest and improving economic growth rates and rising nominal yields will likely discourage any further major gains. Tapering would be a further headwind.”.  Read More

• Gold price analysis: gold is looking vulnerable today

Gold has moved lower in the EU session and trades 0.67% down on the day. At the moment the price is at the volume point of control (VPOC) where the most amount of volume has been traded on the chart.

If the price does move lower the next high volume node resides at $1729.2/oz. This could be the next support as these levels act as a magnet for the price. From time to time, the low volume node is also used and that means $1760/oz could be a support. Read More

• Gold price declines as USDX advances

Gold and silver prices are moderately lower in early U.S. trading Tuesday, due in part to gains in the U.S. dollar index on this day. However, bearish near-term technical charts and not much
risk aversion in the marketplace at present are also weighing on the safe-haven metals. August gold futures were last down $8.70 at $1,772.00 and September Comex silver was last down $0.184 at $26.07 an ounce. Read More

• Gold, silver price unleashed; Will this summer be as explosive as 2020's?

It's going to take gold until the end of the year to rally to $2,000 an ounce, said Phil Streible, chief market strategist of Blue Line Futures.

"I really believe [gold] could get going. $2,000 would capture some headlines on the upside. I think it has the right dynamics for it. You need the Fed to backpedal. You need growth to kind of stall," Streible told David Lin, anchor for Kitco News. Read More 

Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or other advice.