GoldPrice

We end the week in gold markets in a stronger price environment than we began with on Monday, setting the stage for prices to make another move towards $1350/oz next week, should the FOMC meeting provide the right kind of push.

Good morning traders, and welcome to another week in the markets.

Gold spot prices are starting the week relatively flat to Sunday evening’s market open, with gold by the ounce going for $1296.00 at time of writing.

Happy Friday, traders. Gold is back around $1300/oz once again—were the last couple weeks just fever dream?

Happy Monday traders, welcome to another week. The overnight European markets and early New York trading sessions continued to pile the pressure onto gold spot, driving yellow metal toward the $1285/oz level where it currently looks to consolidate. As we discussed in last week’s wrap up, US Dollar strength is the current king of the ring when it comes to trading gold prices.

Happy Friday, traders. Did I say on Monday that this could be a building week for gold? Hoooo boy. Maybe that was a typo? At time of writing, gold spot price has failed an honest test of the 1300 level, falling toward $1290/oz after a dramatic shift to weakness in the back half of the week that coincided with the strongest USD/JPY since Christmas.

Gold looks to be starting another week on the good foot, having shrugged off some hard selling in pre-US trading. After healthy trading in the Asian session and through the European morning, some aggressive pressure drove the yellow metal through last week’s close, down to the neighborhood of $1235/oz, where gold not only found support but rebounded quickly to $1330 and higher.