Spot Gold Price: Will US inflation trigger a sustained move above $1,834 in spot gold? This was a rhetorical question to which the response was aptly provided after the US Consumer Price Index (CPI) jumped to the highest levels in 31 years in October, arriving at 6.2% YoY.
Spot Gold
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Spot Gold Surges to Multi-Month Highs Above $1850
Spot gold (Yellow Metal) prices have spiked higher in response to the latest US Consumer Price Inflation (CPI) report. Prior to the data release, Gold was just under $1827, but it now trades well above the $1850 mark with on-the-day gains of about more than 1.0%. gold comex prices are up around 1.7% from earlier session lows around $1823.
Gold Gains Ground As Treasury yields Pull Back After Fed Decision
Gold futures price rebounded Thursday, building on support found as Treasury debt yields declined after the Federal Reserve announced its plans to taper its bond purchases on Wednesday.
Gold Price Reports: Gold Hurdle Zone $1820—$1827 | Neal Bhai Reports
Gold Price Reports: Gold has rallied to and so far failed at the $1813, 55-week moving average. Gold slip to the $1721 September 2021 low.
Gold Has Lost its Bullish Potential, Current price $1,793 | Neal Bhai
Gold edged lower on Wednesday, trading as low as $1,782.31 a troy ounce. The greenback strengthened ever since the day started against its commodity-rival, getting a boost early in the American session from upbeat US data and rallying equities.
Gold Extends Gains After Powell Stressed on Inflation Pressures
Gold Extends Gains: Federal Reserve Chair, Jerome Powell, sounded a note of heightened concern over persistently high inflation as he emphasized that the central bank would begin tapering its bond purchases shortly while remaining patient on raising interest rates.
Gold Ready to Break The Bearish Trend | Gold Silver Reports
Gold rose for the fifth consecutive trading session, coming close to testing a critical technical and psychological level near $1800. The bears are in no hurry to give up, foiling attempts by Gold and other precious metals to accelerate their growth. Also worth considering are headwinds such as a global monetary policy reversal.