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Gold and silver - setting up a big move
Gold and silver continue to struggle on direction. The rallies fail yet they will not sell off either. This is a true definition of a consolidating market. Eventually, they will move from this range in one direction or the other. The longer it takes to breakout of this range the bigger the move will be.
For now, we assume the bigger move will be lower, but we also recognize that years from now gold, silver, and platinum will be higher than they are today. Therefore, we buy physical for the future and will trade long or short now. The classic difference between trading and investing. Read More
Where are the stops? Tuesday, July 13, gold and silver
Check out today's likely price locations of buy and sell stop orders for the active Comex gold and silver futures markets. The asterisks (**) denote the most critical stop order placement level of the day (or likely where the heaviest concentration of stop orders are placed on this day).
See below a detailed explanation of stop orders and why knowing, beforehand, where they are likely located can be beneficial to a trader. Read More
The new U.S. inflation figures from June are looking like the fresh driver that gold is in need of, according to analysts.
June's CPI data is scheduled to be released on Tuesday. And market consensus forecasts are calling for the annual number to come in around 5%, while the annual core inflation measure is expected to climb to 4% for the first time since 1991.
"It is possible that the U.S. inflation data will give prices a boost when they are released tomorrow. They are likely to show that consumer prices once again rose sharply month-on-month in June," said Commerzbank analyst Carsten Fritsch. "This could make market participants focus more on gold's role as an inflation hedge again. This at least would be the case assuming that the expectations of Fed rate hikes do not increase at the same time." Read More
Likelihood of 'political violence' at historic high, how would gold react? - Jeff Christian
Jeff Christian, Managing Partner of the CPM Group, discusses with David Lin, anchor for Kitco News, the likelihood of certain lower probability events to happen, and the important drivers of gold besides inflation. Read More
Silver price technical analysis
Silver has been consolidating in recent sessions and there has a triangle type formation converging at the moment. The break of the purple structure below could help indicate the future trajectory of the metal. The 4-hour chart below also highlights some of the other key intraday levels to watch. Read More
Gold prices holding support above $1,800 an ounce following sharp 0.9% rise in U.S. Inflation
The gold market is holding gains and support above $1,800 an ounce as U.S. inflation pressures see a significant rise in June.
Tuesday, the U.S. Labor Department said its U.S. Consumer Price Index rose 0.9% in June, after a 0.6% rise in May. The data significantly beat consensus forecasts as economists were forecasting a 0.5% rise.
“This was the largest 1-month change since June 2008 when the index rose 1.0 percent,” the report said. Read More
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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.
