Gold Prices Bounce On Fed Speak, Weaker USDX, US Stocks

Technically could drop further as the USDX is under massive selling pressure, the index is approaching the 94.00 psychological level, a breakdown below this obstacle will confirm a further decrease.

 · Gold prices rose on Friday, as Wall Street stocks tumbled and the dollar fell. Rhetoric from Trump and chinese officials fed worries about a possible trade war and U.S. jobs data came in weaker.

Gold’s Curious Sentiment. Adam Hamilton February 23, 2018 3228 Words . Gold is faring quite well today technically, though you sure wouldn’t know it from the rampant bearish sentiment. Gold’s price is in a strong uptrend over a year old, high in both its current upleg and young bull market.

Dips in the U.S. dollar index and the U.S. stock market at mid-week are providing a bit of support for the safe-haven metals. Some "Fed speak" overnight also aided the metals market bulls. June gold futures were last up $3.30 an ounce at $1,276.50. July Comex silver prices were last up $0.06 at $14.47 an ounce.

7 Common Factors That Influence Gold Prices. let’s have a look at the seven most common factors that influence physical gold prices. 1. Monetary policy/Fed speak .. weaker jobs growth.

Back in late 2008, during that first stock panic in a century, the USDX rocketed 22.6% higher in just 4.2 months, its biggest and fastest rally ever! That was in response to safe-haven buying as the S&P 500 plummeted 38.1% in that short span. But that epic dollar strength hammered gold a proportional 23.7% lower.

Commodities – Gold Prices Bounce Back on Softer Dollar Ahead of Fed. Commodities – Gold Prices Bounce Back on Softer Dollar Ahead of Fed. Breaking News. Please select a profession that best describes you: Individual Investor Institutional Investor Financial Advisor Active Trader.

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For many decades in the stock markets. And that excessive short selling fed on itself instead of abating. The more gold-futures speculators were effectively borrowing to sell short, the lower gold.

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Gold and silver futures prices are up and near their daily highs in early-afternoon U.S. trading Monday, supported in part by a weaker U.S. dollar index, another sell off in the U.S. stock market, and rhetoric supporting a more dovish U.S. monetary policy.

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