Gold news

Gold price weakened has weakened from $1959 below $1800 since the beginning of January, and the current price stands around $1823. The global business activity is still under pressure, and as long the price is above $1800 support, there is no risk of the bear market. Fundamental analysis: Risk aversion…

Gold price has rebounded about 0.7% higher on Friday to reduce weekly losses but is still on track to close the week over 2% in the red.  Fundamental analysis: Dollar strength drives gold lower Silver is also having a poor week after a sharp drop from multi-year highs it touched…

The global stock markets weakened last week, Wall Street’s three main indexes closed sharply lower on Friday and registered their biggest weekly declines since October. The world still needs to face COVID-19 challenges, and risk aversion will prevail the next trading week. “Concerns over a stretched valuations, new coronavirus…

Gold prices have dropped more than 1% yesterday afternoon as volatile trading on Wall Street continues amid the ‘Wallstreetbets’ frenzy. Fundamental analysis: Fundamentals take the back seat In times like this, the fundamental data and reports are less relevant. A report published by The World Gold Council (WGC), that…

Gold and silver prices have opened the new year on the back foot as they’re close to record losses in January. Fundamental analysis: Gold to hit $2,300 in 2021 despite a weak start to the year, analysts say Gold’s start to 2021 wasn’t promising due to the lack of consistent…

Gold prices are closed the week 1.1% lower after plunging nearly 2.6% the week earlier. A new stimulus plan unveiled by President-elect Joe Biden may provide a boost to gold investors.   Fundamental analysis: All eyes on stimulus President-elect unveiled his much-anticipated $1.9 trillion stimulus plan two days ago. The…

The global stock markets have advanced this December, Wall Street’s three main indexes surged to record highs this week, but the world still needs to face COVID-19 challenges. There is still a long way to fight against the pandemic, but investors hope that a fiscal stimulus and coronavirus vaccines will…

The price of gold is on pace to end 2020 higher by nearly 25%, marking its best yearly gain since 2010, according to The Wall Street Journal. Gold recap Gold futures that expire in February 2021 closed at $1,893.40 an ounce on Wednesday. While this does mark a decline…

Gold prices have continued to rise as the hopes of fresh fiscal stimulus sent the U.S. dollar to its lowest point since April 2018. Fundamental analysis: Weaker dollar heping gold prices The dollar index plunged to its lowest mark in more than 2 years after U.S. Senate Majority Leader Mitch…

The US Congress approved a $900 billion coronavirus relief package, but Donald Trump refused to sign it. He insisted on $2,000 direct payments to Americans, and uncertainty about the US stimulus bill and coronavirus pandemic remain in focus for investors. The world still needs to face COVID-19 challenges, and some…

Gold price remains supported by uncertainty over the global economic future, but this precious metal is still not able to surpass $1900 resistance. While the markets may continue welcoming upbeat vaccine news, rising Covid cases and the ongoing delay in U.S. fiscal stimulus could keep gold prices afloat. Fundamental analysis:…

Gold prices have been in the red for the third consecutive week. Today, the price of this precious metal rose by 0.03% to trade at $1,806. However, it is still on its lowest price level since July 2020. Optimism on economic recovery, coupled with investors attraction to emerging markets’ currencies…

Gold prices are heading for a second consecutive weekly decline on the back of encouraging news about coronavirus vaccine developments and news of the U.S. Treasury’s decision to allow emergency loan programs to expire. Fundamental analysis: Risk improves to push gold prices lower U.S. Treasury Secretary Steven Mnuchin sent a…

The price of gold weakened this past week on Covid vaccine optimism and finished the week below $1900. Pfizer and BioNTech announced that their jointly developed COVID-19 vaccine which is effective in more than 90% of the patients. Fundamental analysis: Gold price is still supported by uncertainty over the global…

Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) said today that their coronavirus vaccine candidate showed to be over 90% effective, marking a momentous step in the fight against the deadly virus that has taken more than a million lives around the world.  “A great day for science and…

The price of gold has advanced above $1960 last trading week and the current price stands around $1950. Gold has continued to trade in an uptrend as the COVID-19 pandemic continues to dominate the financial markets. Fundamental analysis: The scenario for the price of gold could be even better Gold…

Gold prices soared nearly 1% on Thursday after the U.S. dollar fell on new updates from the U.S. elections race that signal the Democratic candidate Joe Biden is on the brink of White House.  Fundamental analysis: Dollar slips as Biden makes a big step towards presidency Spot gold prices yesterday…

The price of gold has weakened from $1911 below $1860 last trading week and the current price stands around $1891. Despite this, gold remains in a bull market as the COVID-19 pandemic continues to dominate the financial markets. Fundamental analysis: US stimulus and the upcoming presidential elections are in focus…

At least seven European countries have introduced lockdown measures as of today to increase investors’ short-term concerns. France, Germany, Belgium, Italy, Spain, Portugal and Greece have announced temporary lockdowns in a bid to curb the spread of the novel coronavirus.  All non-essential businesses will be forced to close in France…

The price of gold has finished the week above the $1900 level and if the price jumps above $1950 that would be a confirmation of the “bullish” trend. Concerns about sluggish economic growth amid the ongoing pandemic continue to dominate the financial markets. Fundamental analysis: Fiscal stimulus package may still…

Commodities are trading in a tight range today as investors are eagerly waiting for news from the U.S. related to the new stimulus plan. While gold and oil trade in a narrow range, silver prices have made important gains this week. Gold price should race higher on a stimulus…

The price of gold has posted its first weekly decline in three weeks and finished the week below $1900. Despite this, gold remains in a bull market as the COVID-19 pandemic continues to dominate the financial markets. Fundamental analysis: US stimulus and the upcoming presidential elections are in focus for…