Today's Gold and Silver News - July 2nd

Gold price to recover most of its recent losses says TD Securities

After seeing the worst month in more than four years, gold can still recover most of its losses, according to TD Securities.

Gold ended the first half of the year on a disappointing note, with prices trading well below the $1,800 an ounce level. August Comex gold futures were last at t $1,775.50, up 0.22% on the day.

The hawkish Federal Reserve was to blame for a reversal of the bullish sentiment in gold built up through April and May..... Read More

Gold and silver are flat leading into the European open

Gold and silver are trading flat leading into the European open. There was not too much movement in the whole of the commodities complex as copper (0.09%) and spot WTI (0.08%) remained pretty static too. These kinds of market movements are usually expected before non-farm payrolls. Read More

Gold technical levels ahead of the non-farm payrolls report

There are a few very important levels ahead of today's non-farm payroll report this afternoon. Generally, recent readings have caused a reasonable amount of volatility and today could be no exception. There are around 700K jobs expected to be added this time round and last month an increase of 559K was noted. At the moment the price is in the middle of the current consolidation at around $1781.1/oz.  Read More

ECB's Lagarde addresses commodities prices

This morning Christine Lagarde, President of the ECB was interviewed by La Provence, and although the interview was about the central bank's role in the health crisis some economic nuggets were released.

The ECB President about the rise in commodities prices. She said " The recovery in itself is good news: it started in China, is markedly stronger in the United States but Europe isn’t being outdone. The double monetary lever applied by the ECB and the fiscal policies pursued by the governments and the European Union is fuelling the recovery.". Read More

Where are the stops? Friday, July 2, gold and silver

Most stop orders are located and placed based upon key technical support or resistance levels on the daily chart, which if breached, would significantly change the near-term technical posture of that market.

Having a good idea, beforehand, where the buy and sell stops are located can give an active trader a better idea regarding at what price level buying or selling pressure will become intensified in that market. Read More

Should silver really be $150 and gold $3k? Are current prices an 'insult'? Lobo Tiggre gets real

Sentiment for gold and silver are weak, right now, said Lobo Tiggre of the Independent Speculator.

Tiggre told David Lin, anchor for Kitco News, that he never wants to be a "mindless cheerleader" in the precious metals space, but with that said, fundamentals are in place to push gold to $3,000 and silver to $150 an ounce in the future, although this climb won't happen overnight.

"This negative sentiment, this bearishness that' pervaded our space, is a fantastic opportunity and I've been putting my money in that now," he said. 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.