Gold

Gold price (XAU/USD) has sensed selling pressure while attempting to kiss the critical resistance of $1950.00. The precious metal is not getting the.

Gold price is struggling to find its feet below $1,950 in the European session. The US Dollar is licking its wound alongside weaker US Treasury yields amid dovish Fed bets and pre-US GDP anxiety. The author makes no representations as to the accuracy, completeness, or suitability of this information. EUR/USD is holding steady above 1.0900 in early European trading. The author has not received compensation for writing this article, other than from FXStreet. It also does not guarantee that this information is of a timely nature. Usually, the consolidation phase of the chart pattern serves as an inventory adjustment in which those participants initiate longs, which prefer to enter an auction after the establishment of a bullish bias. As per the projections, the US GDP is expected to contract to 2.6% from the former release of 3.2%. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. [United States](https://www.fxstreet.com/economic-calendar/united-states) Gross Domestic Product (GDP) and other critical economic data. Daily Pivot Point R1 Gold price (XAU/USD) has sensed selling pressure while attempting to kiss the critical resistance of $1,950.00.

"Purchases by global central banks are one of the most reliable indicators signalling gains in bullion prices," said Ao Chong, an analyst at Citic Securities in ...

"There's something else going on that central banks from all over the world would buy gold when interest rates are surging. The WGC pointed out that there was a sizeable unknown contingent of central banks buying gold, with markets immediately looking at China and Russia as potential candidates. "Purchases by global central banks are one of the most reliable indicators signalling gains in bullion prices," said Ao Chong, an analyst at Citic Securities in Beijing. One of the central banks that surprised the gold market at the end of last year was China. This marked a 300% jump from the same period a year ago, according to the World Gold Council (WGC) report. That was followed up with another purchase of 30 tons of gold in December.

Nymex crude oil futures prices are firmer and trading around $80.50 a barrel. Oil prices are still in an uptrend on the daily bar chart. Meantime, the yield on ...

Next support is seen at $23.26 and then at $23.00. First support is seen at today’s low of $1,920.60 and then at this week’s low of $1,912.50. First resistance is seen at $24.00 and then at this week’s high of $24.295. The next downside price objective for the bears is closing prices below solid support at $22.00. First resistance is seen at this week’s high of $1,943.80 and then at $1,950.00. Silver bulls' next upside price objective is closing March futures prices above solid technical resistance at the January high of $24.775. Oil prices are still in an uptrend on the daily bar chart. dollar index slightly lower as prices are still in a downtrend on the daily bar chart and not far above the recent nine-month low. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,885.00. [February gold](/finance/futures/details.html?j1_module=futureDetail&popup=1&j1_symbol=GCG23) [ was last up $3.70 at $1,939.20 and ](https://www.kitco.com/finance/futures/details.html?j1_module=futureDetail&popup=1&j1_symbol=GCZ22) [March silver](/finance/futures/details.html?j1_module=futureDetail&popup=1&j1_symbol=SIH23) [ was up $0.121 at $23.87.](/finance/futures/details.html?j1_module=futureDetail&popup=1&j1_symbol=SIZ22) stock indexes are lower at midday. China markets are quiet as the Lunar New Year holiday is being celebrated.

Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the "Company" or "Lumina") is pleased to announce positive results from its ongoing metallurgical test work ...

Gold prices have surged over the past two months with expectations that the US Federal Reserve will slow its interest rate rises.

Central bank buying in the first nine months of 2022 was the highest since 1967, according to the World Gold Council. We believe China’s reopening and the end of its strict zero-Covid policy should support Chinese gold demand’s rebound in 2023. China’s 2022 gold consumption fell 10.6% from 2021 to 1,001.7 tonnes, according to the China Gold Association (CGA). A less hawkish Fed is likely to lead to a weaker US dollar, which would support higher gold prices. By the end of 2022, China’s gold reserves reached 2,011 tonnes. Meanwhile, the latest CFTC data show that speculators increased their bullish bets in COMEX gold by 10,783 for a seventh consecutive week, to leave them with a net long of 93,357 lots as of the last reporting week. Ten-year real US yields reached their highest levels in more than a decade last year, pushing gold from a peak of above $2,000/oz in March 2022 to a low of just above $1,600/oz in November. The fall in real yields since November has encouraged a more bullish view on gold and has seen the price rally above $1,900/oz. Investors sold $3bn worth of physically-backed gold ETFs in 2022, a 3.4% decrease to $202.7bn of global holdings at the end of December, according to data from the World Gold Council. Given the strong negative correlation between gold prices and real yields, gold struggled in the rising yield environment. [Our US economist now sees](https://think.ing.com/articles/fed-reaches-the-end-game-as-data-disappoints-yet-again/) growing risks that the Fed may stop hiking after a 25bp move in February. Investor appetite for gold also decreased in 2022.

Gold and silver prices may rise given that retail traders have recently increased their net-short exposure in these precious metals.

[IGCS gauge](https://www.dailyfx.com/sentiment-report?ref-author=Dubrovsky&QPID=917702&CHID=9) shows that about 79% of retail traders are net-long silver. [IGCS gauge](https://www.dailyfx.com/sentiment-report?ref-author=Dubrovsky&QPID=917702&CHID=9) shows that about 55.44% of retail traders are net-long gold. Since most traders are biased to the upside, this hints that [prices](https://www.dailyfx.com/topics/inflation) may fall. [ Recommended by Daniel DubrovskyImprove your trading with IG Client Sentiment Data](https://www.dailyfx.com/free-trading-guides#forecastschoices=SENTIMENT_GUIDE) Since then, prices have failed to break above the 78.6% Fibonacci extension at 24.272 consistently. That can at times precede a turn lower, exposing the 20-day Simple Moving Average (SMA). Silver prices have been in a consolidative state since December. Taking a look at IG Client Sentiment (IGCS), retail traders have slightly increased their short exposure in gold and silver. Prices closed above the 123.6% Fibonacci extension at 1937.82, bringing prices closer to the 1978 – 1998 resistance zone. What are key technical levels to watch? If confirmed, that would be the longest winning streak since July 2020. [gold](https://www.dailyfx.com/gold-price)and [silver](https://www.dailyfx.com/silver-prices)bets

Prices were up a fifth consecutive session, the longest daily streak of gains since the five-session rise ended Aug. 2, according to Dow Jones Market Data.

At least for now, “the U.S. Gold has been able to make its substantial recent gains “even though the Fed implemented another rate hike in December and is likely to do so again when it meets at the end of this month,” said Rowling. central bank has yet to reach the interest rate it feels is required to ensure stubbornly high inflation returns back towards its 2% target,” said Rowling. [This week, the U.S. and in Europe, ensuring that gold can hold near its 9-month high,” said Rowling. However, the precious metal has found support around $1,920, a level which had served as resistance in the past, he said in a market update. dollar,” said Rupert Rowling, market analyst at Kinesis Money, in a daily note. inflation and expectations for a recession which have allowed the U.S. Prices were up a fifth consecutive session, the longest daily streak of gains since the five-session rise ended Aug. The Federal Reserve Open Market Committee will hold its next two-day monetary policy meeting on Jan. dollar to slide. [GC00,](/investing/future/GC00?mod=MW_story_quote) +0.08% [GCG23,](/investing/future/GCG23?mod=MW_story_quote)delivery rose $7.20, or 0.4%, to settle at $1,942.60 per ounce on Comex — the highest finish for a most-active contract since April 21.

By Joseph Adinolfi. Gold prices fell sharply on Wednesday as the yellow metal retreated from a fresh 9-month high. Price action. Market drivers.

dollar and lower Treasury yields have also helped bolster prices for gold and other precious metals, analysts said. Gold prices have risen more than 5% since the start of 2023, helped by signs of waning U.S. "Gold and silver prices are weaker in early U.S.

Gold miners are among the asset classes that have long vexed market participants. Often volatile, this corner of the equity market has documented periods in ...

The book value, also often referred to as the [net asset value (NAV)](https://www.wisdomtree.com/blog/glossary#net-asset-value), is the theoretical value of a company’s assets net of liabilities. [price-to-book value (P/B)](https://www.wisdomtree.com/blog/glossary#price-to-book-ratio), marking a 2.59% discount to the long-term average. The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Indeed, the mining industry’s historical ESG reputation leaves something to be desired, but that also implies ample room for improvement — some of which is being realized today. The exposure to gold futures can offset some of the risk associated with miners allocations. Gold miners are among the asset classes that have long vexed market participants.

Gold price (XAU/USD) retreats from a nine-month high as bulls await the key US data/events for further directions while aiming for the fresh multi-mon.

Gold price is struggling to find its feet below $1,940 in the European session. EUR/USD is holding steady at around 1.0900 in the European session. The US Dollar is licking its wound alongside weaker US Treasury yields amid dovish Fed bets and pre-US GDP anxiety. The author makes no representations as to the accuracy, completeness, or suitability of this information. That said, holidays in China and Fed’s blackout join the ECB’s one-week silence period starting from Thursday to restrict immediate [XAU/USD](https://www.fxstreet.com/markets/commodities/metals/gold) moves. If you are a medium-to-long-term trader, this tool will allow you to know in advance the price levels where a medium-to-long-term trend may stop and rest, where to unwind positions, or where to increase your position size. It’s worth noting that the likely easing in the scheduled top-tier data keeps the central bank watchers on the edge and probing the Gold price of late even as the US Dollar weakness underpins the metal’s upside momentum. The author has not received compensation for writing this article, other than from FXStreet. The author will not be held responsible for information that is found at the end of links posted on this page. It’s worth noting that Fibonacci 38.2% on one-day and previous weekly top offers immediate support to the Gold price near $1,940. In addition to the cautious mood ahead of the key US growth and inflation data, a light If you are a short-term trader, you will find entry points for counter-trend strategies and hunt a few points at a time.

Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the "Company" or "Lumina") is pleased to announce positive results from its ongoing metallurgical test work ...

Commodities Analysis by Michele Schneider covering: XAU/USD, XAG/USD, SPDR® Dow Jones Industrial Average ETF Trust, SPDR® S&P 500. Read Michele Schneider's ...

The flash US PMI Composite Output Index registered 46.6 in January, up from 45.0 in December. The EIA crude oil inventories report showed that demand for crude... [gold](/commodities/gold) has been sold on strength and bought on weakness. With current macroeconomic and geopolitical conditions such as they are, 2023 is even more bullish for the metals than it was five decades ago. With proper risk management ALWAYS, dip buying on corrections makes a lot of sense. [Saved Items](/members-admin/saved-items)

The gold price has increased more than 8% in 2023 to a nine-month-high at $1937. What are the key drivers behind the rising appetite for precious metals?

Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. In this scenario, the buying opportunity may surface if the price pulls back to the imminent support near $1920. The gold price has increased more than 8% in 2023 to a nine-month-high at $1937. On the weekly picture, the price has climbed for six straight weeks and moved above all the major moving averages. In the near term, the price might take a breather since both the weekly and daily RSI have reached the overbought territory. Among all the major central banks, China and Turkey are the biggest fans (refer to the chart below).

Obsessed with a treasure city, conquistador Francisco Pizarro captured the Inca emperor Atahualpa. To spare his life, the emperor offered up the largest ...

Finally, Pizarro decided to honor the demands of his own men so he could get on with the march toward Cusco. Francisco de Jerez, Pizarro’s chronicler, recorded that a horse was worth 3,500 pesos, a jar of wine 40 pesos (the same as a pair of stockings), and a cape 100 pesos. First, 20 percent of the total (more than 264,000 pesos) had to be set aside as royal tribute (quinto real) for the Spanish king and Holy Roman Emperor Charles V. On May 23, 1533, one of the captains arrived back from Cusco with news that descriptions of the city had not been exaggerated and that it was, indeed, teeming with treasure: They had found two houses plated with gold. So Pizarro sent his brother Hernando to Pachacamac and several of his captains to Cusco. Pizarro was convinced he had indeed reached the kingdom that the indigenous people of the Panamanian coast had described. Soon the gold and silver began to flood in. The gold would be heaped to the height of a man with his arms stretched above his head. He decided to return to Panama, inform the authorities, and ask for reinforcements to help colonize the territories. Even before the arrival of Cortés, the search for gold was directed south, to the equatorial regions that according to some legends of the time were believed to be especially rich in gold. Birú and its fabled riches had not materialized, and scores of men had died along the way. In return, he gave them nominal security and taught them about Christianity; although not considered slavery in the strictest definition, historians consider it a system of forced labor.

PRNewswire/ - Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the "Company" or "Lumina") is pleased to announce positive results from its ongoing ...

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Lumina is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein. JK-SMC test results of A * b = 24.6 confirmed the 2020 PEA results and classified the material as hard. Whole-ore cyanidation can be used to process the mineralized materials and produce a doré, but no copper is expected be recovered using this process. Copper-molybdenum separation flotation testing on copper-gold flotation concentrates yielded a potentially saleable molybdenum concentrate that assayed 48% molybdenum while recovering approximately 50% of the molybdenum. The results presented in this news release were generated based on testing of a master composite (the "2022 Master Composite") and 14 individual variability composites that reflect various anticipated material grades, rock types and time periods. Cleaner flotation testing indicates that regrinding to 20 microns, versus 38 microns assumed in the 2020 PEA, is required to achieve the 15% copper concentrate grade. Cleaned copper-gold flotation concentrates assayed 15% copper, 70 g/t gold and 101 g/t silver, compared to the average concentrate grade estimated in the 2020 PEA of 17% copper, 75 g/t gold and 72 g/t silver. The life-of-mine average plant feed grade is projected to be 0.55 g/t gold and 0.1% copper, a slightly higher grade than the 2022 Master Composite. Capital and operating cost estimates and the concentrate marketing study have been initiated and the overall PFS remains on track for completion in Q2 of this year." Marshall Koval, President and CEO commented: "The PFS is on schedule, and several major components of the study have been completed.

Here's another reason why it may not be completely insane to add some gold bullion to your 401(k) or retirement account. Central banks are stocking up.

Or you can point out that it seems still to be the only liquid financial asset you can use outside of the regulated international financial system. Gold is the only meaningful asset of which that is true. It is the only currency that isn’t controlled by any other country (as well as the only one that can’t be counterfeited). You can make the argument that it’s a useless lump of yellow metal, generates no cash flow, and has no more relevance to today’s world than, say, sun worship or the divine right of kings. [PHYS, +0.33%](/investing/fund/PHYS?mod=MW_story_quote), where your investment is allocated to individual bars of gold. Or the collapse of cryptocurrencies, which for several years had attracted a lot of the hype and attention that a generation ago would have gone to gold. “The decision of G-7 countries to freeze the foreign-exchange reserves of the Bank of Russia [i.e., last year, after the invasion of Ukraine] directed attention to whether reserves might be held in another form better insulated from sanctions.” All they need is some trucks or planes and some guards with guns—easy things to get hold of if you are an international arms dealer, say, or a sovereign government. The currency in question would simply be gold. Some 14 of them have hiked gold as a share of their reserves by more than 5 percentage points so far this millennium, the economists report. And it is popular in jewelry. Central banks have been stockpiling bullion over the past 15 years, more than making up for the net sales of the previous decade.

Bets for smaller rate hikes by Federal Reserve, recession fears should help limit losses. Traders now look to the Advance GDP report from the United States for ...

Shiba Inu (SHIB) price is gearing up for the first real test of the year as US GDP numbers are coming out later this Thursday. Gold price is struggling to find its feet below $1,940 in the European session. The US Dollar is licking its wound alongside weaker US Treasury yields amid dovish Fed bets and pre-US GDP anxiety. The US Dollar is having a difficult time finding demand on Thursday as investors gear up for the high-tier US data. EUR/USD is holding steady at around 1.0900 in the European session. [XAU/USD](https://www.fxstreet.com/markets/commodities/metals/gold), for the time being. The author makes no representations as to the accuracy, completeness, or suitability of this information. The incoming data should play a key role in influencing the US central bank's interest rate strategy, which, in turn, will drive the USD demand and provide some meaningful impetus to Gold price. The XAU/USD drops to a fresh daily low, around the $1,935 area in the last hour, and for now, seems to have snapped a three-day winning streak. The latter should act as a pivotal point, which if broken decisively might shift the near-term bias in favour of bearish traders and pave the way for a deeper corrective pullback. The US Dollar (USD) gains some positive traction and moves away from an eight-month low ahead of the preliminary fourth-quarter Gross Domestic Product (GDP) report from the United States (US). Furthermore, the CME's FedWatch Tool points to over a 90% probability for a smaller 25 bps rate hike at the next Federal Open Market Committee (FOMC) meeting that concludes on February 1.

We have increased our 2023 price outlook slightly based on the faster-than-expected pivot in US interest rate policy and the return of Chinese demand after ...

Central bank buying in the first nine months of 2022 was the highest since 1967, according to the World Gold Council. We believe China's reopening and the end of its strict zero-Covid policy should support Chinese gold demand's rebound in 2023. A less hawkish Fed is likely to lead to a weaker US dollar, which would support higher gold prices. By the end of 2022, China's gold reserves reached 2,011 tonnes. Meanwhile, the latest CFTC data show that speculators increased their bullish bets in COMEX gold by 10,783 for a seventh consecutive week, to leave them with a net long of 93,357 lots as of the last reporting week. Ten-year real US yields reached their highest levels in more than a decade last year, pushing gold from a peak of above $2,000/oz in March 2022 to a low of just above $1,600/oz in November. The fall in real yields since November has encouraged a more bullish view on gold and has seen the price rally above $1,900/oz. The decline in bullion demand was led by weak bar and coin demand, which fell 17.23% last year. Given the strong negative correlation between gold prices and real yields, gold struggled in the rising yield environment. Investors sold $3bn worth of physically-backed gold ETFs in 2022, a 3.4% decrease to $202.7bn of global holdings at the end of December, according to data from the World Gold Council. [Our US economist now sees](https://think.ing.com/articles/fed-reaches-the-end-game-as-data-disappoints-yet-again/) growing risks that the Fed may stop hiking after a 25bp move in February. Investor appetite for gold also decreased in 2022.

Mr. Cameron Tymstra reports: VANCOUVER, BC, Jan. 26, 2023 /CNW/ - Tarachi Gold Corp. (CSE: TRG) ...

In exchange for the elimination of Manto's 15% net profit interest royalty on the Magistral Tailings, US$2,000,000 in production bonus payments and any other obligations owed to Manto or rights for Manto to participate in the Magistral Project, Tarachi will pay to Manto 15% of all payments received from Atocha in the Transaction as those payments are received. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward–looking statements or forward-looking information and Tarachi has made assumptions and estimates based on or related to many of these factors. Assumptions have been made regarding, among other things, the price of silver, gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Tarachi's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms. Atocha has agreed to advance to Tarachi the amount of US$1,000,000, which will be held in escrow and act as a deposit against the Initial Payment. The Parties expect to close the Transaction within 30 days of the signing of the Definitive Agreement. ("Atocha"), a private Mexican mining company with producing mines in the states of Durango and Zacatecas, for the sale of the Company's Magistral Project in Durango, Mexico (the "Magistral Project"). Tarachi anticipates the IVA tax benefit will be realized by Atocha and paid to Tarachi within the first year of commercial operations at the Magistral Project. the amount of value added tax ("IVA") currently owing to TGMEX as that tax benefit is realized by Atocha during operations and product sales from the Magistral Project or other Atocha-controlled assets if Atocha merges TGMEX with Atocha or another entity they control, estimated to total approximately US$650,000. The following additional cash payments (collectively the "Additional Payments") will also be made to Tarachi: Upon closing the transaction proposed in the Letter Agreement (the "Transaction"), Tarachi will transfer 100% ownership of its TGMEX Silver S.A. ("TGMEX"), which owns all of the Company's assets related to the Magistral Project, to Atocha. (CSE: TRG) (OTCQB: TRGGF) (Frankfurt: 4RZ) ("Tarachi" or the "Company") is pleased to announce that it has signed a binding letter agreement (the "Letter Agreement") with Compañia Minera de Atocha S.A.

(Kitco News) - The gold market is seeing an increase in selling pressure as the U.S. economy proved to be more resilient than expected in the final quarter ...

At the same time, the U.S. dollar remains in a solid downtrend as the U.S. The report said exports fell 1.3% in the fourth quarter, down from a 14.6% increase in the third quarter. economy was healthier heading in the first months of 2022, economists warn that the risks for a recession this year remain elevated. Thursday, the U.S. Economists note that deep contractions in the manufacturing sectors point to weak activity this year. At the same time, imports fell 4.6% between October and November, up from the third-quarter drop of 7.3%. economy proved to be more resilient than expected in the final quarter of 2022. Although the gold market is seeing some technical selling pressure, some analysts have said that gold still remains in a solid uptrend as the market environment remains supportive. Although the U.S. [Editor's Note: With so much market volatility, stay on top of daily news! Looking at some of the components of the report, consumer spending increased 2.1% in the first quarter, down slightly from the third-quarter increase of 2.3%.

The key outside markets today see the U.S. dollar index slightly higher. Nymex crude oil futures prices are a bit firmer and trading around $80.75 a barrel.

The U.S. The next downside price objective for the bears is closing prices below solid support at $22.00. First resistance is seen at today’s high of $24.095 and then at this week’s high of $24.295. Meantime, the yield on the benchmark U.S. Next support is seen at $23.50 and then at $23.26. Silver bulls' next upside price objective is closing March futures prices above solid technical resistance at the January high of $24.775. First support is seen at Wednesday’s low of $1,920.60 and then at this week’s low of $1,912.50. U.S. The key outside markets today see the U.S. It’s a busy day for U.S. First resistance is seen at today’s high of $1,949.80 and then at $1,962.50. Other U.S.

As the capital markets were feeling the woes of rising inflation and a tightening monetary policy implemented by the U.S. Federal Reserve last year, gold was ...

Investors are shielded from the higher volatility of gold prices. The index uses a transparent, rules-based methodology that is designed to emphasize larger-sized gold companies with the highest revenue growth, free cash flow yield, and the lowest long-term debt to equity. The index aims to track the performance of larger-sized gold companies whose stocks are listed on Canadian and major U.S. Per SGDM’s fund description, the ETF seeks investment results that correspond generally to the performance of its underlying index, the Solactive Gold Miners Custom Factors Index. Bullishness from a technical standpoint is also feeding into bullishness for gold prices. declining to start the new year.

Many gold mining stocks are trading higher lately as the underlying commodity itself continues upward and onward.

From a mid-July, 2022 low of about $3.00 to the January, 2023 high of $4.84 represents an increase of 38%. The relative strength indicator (RSI, below the price chart) shows a positive divergence between the May, 2022 dip and that late September bottom Quick math and that seems to come to a 16.85% gain about 3 months’ time, not bad for one of the most bad-mouthed of the commodities. Earnings for 2022 were up by 435% the although past 5-year growth rate is -16.80%. The short-term has been below the long-term since July, a long time for those holding the precious metal. — the price of the yellow metal might be all you need to know for now.

Silver is in a very similar posture to gold with open interest near the lowest level in years while margin rates saw a recent move higher. Outlook: Bullish.

Even though the consolidation in gold and silver lasted more than two years (Aug 2020 – Dec 2022), markets always need time to rest and recover. The current move has been very strong, but gold does not yet look ready to take on $2000 and attack new all-time highs. [Exploring Finance](https://exploringfinance.github.io/) dashboard: [https://exploringfinance.shinyapps.io/goldsilver/](https://exploringfinance.shinyapps.io/goldsilver/) [click here](https://schiffgold.com/peter-schiffs-gold-news.html)– for a free subscription to his exclusive weekly email updates. The gold-silver ratio has been steadily falling and got as low as 75 in December. Volume in both metals has picked up significantly since the start of the year which has helped fuel the price advance. The current move in the miners has been strong but less forceful than past moves. Looking over a long time horizon shows how badly the miners have underperformed gold over the last decade. Silver led gold higher and then got trapped around the $24 mark in mid-December. Open interest rebounded from multi-year lows which have led to the recent price advance. The 50 DMA ($1821) now sits comfortably above the 200 DMA ($1787). Given the time it has spent consolidating, there are reasons to be optimistic. The price was at $1630 as recently as November 3rd so the current 20% move up has been fast and furious catching many shorts off guard (more on that next week).

Gold price retreats after hitting a nine-month high of $1949.16 and dips beneath the $1940 mark, following the release of the Gross Domestic Product (

The slide continued after the release of US economic data and as markets wobble ahead of next week’s FOMC meeting. GBP/USD came under bearish pressure and declined toward 1.2350 in the second half of the day on Thursday. EUR/USD has lost its traction and declined below 1.0900 during the American trading hours on Thursday. The author makes no representations as to the accuracy, completeness, or suitability of this information. The author has not received compensation for writing this article, other than from FXStreet. Daily Pivot Point R3 As an alternate scenario, if [XAU/USD](https://www.fxstreet.com/markets/commodities/metals/gold) reclaims $1950, a move toward the psychological $2000 level is on the cards. Daily Pivot Point R2 Below that support, the 20-day Exponential Moving Average (EMA) rests at $1894.44, which, once cleared, could send XAU/USD diving toward the January 11 pivot low of $1867.22. Headline PCE data is expected at 0.1% Mom and 5.5% YoY. In other data, Durable Good Orders rebounded from a -2.1% contraction in November to 5.6% in December, as data for the US Commerce Department showed. Therefore, the XAU/USD is trading at 1933.40, below the opening price by 0.49%.

Gold price dropped to a low of $1918.69 on Thursday due to a stronger US Dollar on generally solid United States of America economic data on the day.

The slide continued after the release of US economic data and as markets wobble ahead of next week’s FOMC meeting. GBP/USD came under bearish pressure and declined toward 1.2350 in the second half of the day on Thursday. The author makes no representations as to the accuracy, completeness, or suitability of this information. The US Dollar bulls have managed to eat into the trendline and this leaves the outlook for Gold price bearish. EUR/USD has lost its traction and declined below 1.0900 during the American trading hours on Thursday. The author has not received compensation for writing this article, other than from FXStreet. The author will not be held responsible for information that is found at the end of links posted on this page. It also does not guarantee that this information is of a timely nature. [rates](https://www.fxstreet.com/rates-charts/rates) higher for longer. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. The US 10-year note was last seen paying 3.52% at the highest of the day. [United States](https://www.fxstreet.com/economic-calendar/united-states) of America reported its fourth-quarter Gross Domestic Product as rising by 2.9%, more than the consensus estimate for a 2.8% rise.

Companies are using precious metals and other minerals from electronic waste to create necklaces, rings and bracelets.

In 2020, Danish brand Pandora, one of the largest jewelry manufacturers in the world, announced that, by 2025, all of its jewelry would be made from recycled gold and silver. Besides the direct destruction of habitats, mining means the displacement of wildlife, loss of vegetation, [deforestation](https://english.elpais.com/usa/2021-09-16/the-amazon-rainforest-under-bolsonaro-a-story-of-fire-and-violence-in-brazil.html), erosion and alters soil profiles, according to a report on the social and environmental impact of mining in the European Union. Aside from the fact that some of the technology is particularly costly and inefficient, it is important that the process is carried out properly: “If recycling is not done correctly and in a controlled environment, there can be negative environmental consequences,” says AuTerra. This mass is a combination of copper, gold, silver and other metals, which finally go through a recycling process and are melted “to guarantee a pure and high quality material.” The reason these devices are often packed with precious metals and minerals such as gold, silver, platinum and copper, is that these are good conductors of electricity. Cell phones, computers and video game consoles conceal precious metals that can be recycled to create jewelry, and a number of brands have not been blind to the opportunity.

Investing.com -- Gold futures came within a hair's breadth of $1,950 an ounce before retreating on Thursday, as bulls in the game appeared to be conserving ...

A reading on U.S. gross domestic product showed the economy grew at a robust 2.9% annual pace in the fourth quarter. GDP expanded at an above-normal rate for ...

Following the GDP data, the U.S. The ICE U.S. A 25-basis point increase would be smaller than the half-percentage point rate hike Fed officials approved last month. 1, as well as a "likely rate hike" on March 22, with both of the rate hikes likely to be 25 basis points. Gold dropped partly because the robust U.S. gross domestic product showed the economy grew at a robust 2.9% annual pace in the fourth quarter.

A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and ...

Seligdar said that the new level of production achieved in 2022 was the result of modernization and expansion of the company's production asses. The company's gold production in 2022 amounted to a record 243 koz, which is an increase of 6% compared to 2021 (229 koz), whereas production of tin in concentrate was in line with 2021 and amounted to 2,900 tonnes. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation.

In 2022, global gold mining and recycling supplies totaled around 3100 tons. As documented in Switzerland's customs data, record amounts were shipped from.

A major part of the decline was no doubt a result of the sizeable increase in gold import and other taxes last July to 18.45 percent. Between major demand in many Asian nations and strong central bank buying, the price of gold as of the afternoon of Jan. He is the communications officer of Liberty Coin Service in Lansing, Michigan and writes Liberty’s Outlook, a monthly newsletter on rare coins and precious metals subjects. The refineries shipped 69 tons of gold to Singapore, more than doubling 2021’s total of 33 tons, once again the highest amount since 2017. Swiss refiners shipped 92 tons to Thailand, up from 56 tons in 2021 and the most in any year since 2013. Another 188 tons were shipped to Turkey, up from a mere 11 tons in 2021.

Figure 1 Location map of the Gairloch Project within the Loch Maree Group in Scotland. Figure 2 Core from hole 18-G-01 drilled by GreenOre Gold Plc grading ...

iShares MSCI Gold Miners ETF provides exposure to gold mining companies, as classified by GICS. Read why RING ETF is a risky bet now.

Over the long term, revenues of the MSCI Global Gold Miners index have underperformed the rise in the gold price as mining volumes have declined. [Sell Gold And Buy TIPS](https://seekingalpha.com/article/4572098-sell-gold-and-buy-tips)', the rally in gold prices is not supported by real US bond yields, and previous such occasions have led to gold market peaks. This does not at all mean I expect gold prices to fall by half as there are many other factors to consider, but it should be a warning sign to investors chasing the current rally. With gold prices near record highs we will see a rise in sales across the gold mining sector over the coming months, but even if profit margins return to record highs, the RING would still not be particularly cheap. Compared to the VanEck Gold Miners ETF ( The RING ETF provides exposure to gold mining companies, as classified by GICS, from developed and emerging markets.

Stock image. Gold prices edged lower on Thursday following strong US economic data for the fourth quarter of 2022, though indications of a likely slowdown ...

New GDP data shows that the US economy maintained a strong pace of growth in the last quarter as consumers boosted spending on goods, but momentum appears to have slowed considerably towards the end of the year, with higher interest rates eroding demand. Spot gold was down 1.1% to $1,925.48 per ounce by noon ET, having reached a nine-month high of $1,949.08 earlier in the day. Gold prices edged lower on Thursday following strong US economic data for the fourth quarter of 2022, though indications of a likely slowdown limited losses in the safe-haven metal.

On Thursday, bullion prices fell 1% after data showed the U.S. economy grew at a faster pace in the December quarter than economists had expected, prompting ...

The GDP data points to a resilient U.S. Investors broadly expect the Fed to scale back rate hikes to 25 basis points (bps) at its Jan. 1 meeting, from 50 bps in December. Jan 27 (Reuters) - Gold prices were little changed on Friday as traders awaited U.S. Register for free to Reuters and know the full story Lower interest rates tend to be beneficial for bullion as it lowers the opportunity cost of holding the non-yielding asset.

Gold price (XAU/USD) sticks onto the US GDP-inflicted bearish bias as the metal traders await the Federal Reserve's (Fed) preferred inflation gauge, n.

GBP/USD is extending losses toward 1.2350, as a cautious mood prevails ahead of the key US PCE inflation data. US Dollar’s rebound ahead of Fed’s preferred inflation gauge also weighs XAU/USD. Experts at the crypto intelligence tracker Santiment believe the recent spike in activity by whales on these networks needs to be watched closely. Hopes of US debt ceiling extension, fading recession woes underpin USD strength. The author makes no representations as to the accuracy, completeness, or suitability of this information. Investors look to reposition, with eyes on the Fed and ECB policy announcements next week. If you are a medium-to-long-term trader, this tool will allow you to know in advance the price levels where a medium-to-long-term trend may stop and rest, where to unwind positions, or where to increase your position size. The author has not received compensation for writing this article, other than from FXStreet. The author will not be held responsible for information that is found at the end of links posted on this page. In addition to the pre-data anxiety, confirmation of the six-week-old rising wedge bearish chart pattern also keeps XAU/USD sellers hopeful. Even so, the early Friday news suggesting the US House Republicans’ nearness to overcoming the debt ceiling woes seemed to have renewed the XAU/USD downside. The personal consumption and the GDP price index details, however, challenged the hawkish bias and put a floor under the metal.

On Thursday, bullion prices fell 1% after data showed the U.S. economy grew at a faster pace in the December quarter than economists had expected, prompting ...

Investors broadly expect the Fed to scale back rate hikes to 25 basis points (bps) at its Jan. The GDP data points to a resilient U.S. On Thursday, bullion prices fell 1% after data showed the U.S. Jan 27 (Reuters) - Gold prices were little changed on Friday as traders awaited U.S. 1 meeting, from 50 bps in December. economy but there were some signs of challenges to the economy, which kindled some hopes of a less aggressive Fed, Yeap said.

Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices.

She added that this is the quietest bull market rally the market has seen in a long time. Currently, markets have all but priced in a 25 basis point hike next week, which is a significantly slower pace compared to the Federal Reserve's last four 75 basis point moves. "Context is everything, but its still in Golds DNA to worry about most FOMCs.” [gold](https://www.kitco.com/Gold-price-today-USA/) prices have verged on a technical bull market with prices recently up nearly 20% from their November two-year lows. The historical average for the ratio is around 60. Congress over the debt ceiling and potential default, are all specific supportive factors for gold. [gold](https://www.kitco.com/Gold-price-today-USA/), Shiels said that she expects the market to overcome the wall of worry. February gold futures last traded at $1,926.30 an ounce, down 0.84% on the day. She said that the market is even close to being "frothy." Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Shiels noted that the pullback in [gold](https://www.kitco.com/Gold-price-today-USA/) has been shallow. [Kitco News](/)) - The growing divergence between [gold](https://www.kitco.com/Gold-price-today-USA/) and [silver](https://www.kitco.com/silver-price-today-usa/) continues to attract new market attention, but according to one analyst, there are specific bullish factors driving [gold](https://www.kitco.com/Gold-price-today-USA/) [gold](https://www.kitco.com/Gold-price-today-USA/) prices, which should ultimately provide some support for [silver](https://www.kitco.com/silver-price-today-usa/).