GoldPrice

Good morning, traders. An unusual Tuesday drop-in today, as the volatile moves we’ve seen in the gold market this morning warrant some discussion. Gold prices are trading with strength near well above $1600/oz, a key recovery level and a line of major psychological “round number” resistance. While the yellow metal, along with silver, had been moving steadily higher since yesterday afternoon and through the overnight trading session, a functional breakdown of one of gold’s traditional pricing mechanisms led to prices swinging wildly in the early morning hours and powering as high as $1625 in the spot markets before reeling back.

Good morning, traders. Welcome to our weekly preview of economic data and the narratives that are driving global markets, with a focus on those inputs that may have the biggest impact on gold prices, as well as the Dollar and other correlated assets.

Happy Friday, traders. Welcome to our weekly market wrap, focusing on the last five days of trading in gold, the Dollar, and related assets.

What a month, traders. What a month it’s been so far. This is the space where, up until Sunday evening, I was planning on offering our usual recap of the FOMC’s announcements and press conference that were to follow the March meeting scheduled to end today. Of course, that changed when the Federal Reserve’s moment to act was pulled forward to Sunday where they announced an emergency cut of 1%-- their second inter-meeting move in as many weeks—and a new program of QE (Quantitative Easing) operations that will target total asset purchases of $700 billion.

US consumers had already begun paring back spending last month, even before the efforts to slow the spread of the Covid-19 coronavirus began constricting regular economic activity according to the Commerce Departments data on February retail sales, released on Tuesday.

Good morning, traders. Welcome back to our weekly preview of the trading days ahead, with a specific focus on the economic data, as well as global and market narratives that could have the most impact on gold prices, the Dollar, and other correlated assets.