GoldPrice

Happy Friday, traders. Welcome back to your recap of the week in metals and currency markets. At the time of writing this afternoon, gold is weakening a bit for the day, but shining bright with massive gains on the week representing six-year highs.

The price of gold has continued its rocket-shot of a week today as the world’s financial markets are reeling; breaking to a six-year high above the major psychological line of $1500 an ounce this morning.

Good morning, traders. Welcome back to Monday, and a look at our week ahead in the gold market and related assets. The economic calendar for this week is especially light and even has far fewer scheduled public appearances by FOMC officials than we typically see post-meeting.

Happy Friday, traders. Welcome to our weekly recap of the metals markets, are you still with us?

Happy Thursday, traders. Dropping in for an odd, slightly less organized mid-week post to talk a bit more about yesterday’s FOMC and how things look for gold markets. In trying to get a helpful recap up as soon as possible after Chairman Powell’s press conference yesterday, I bypassed any attempt to give my view on things; frankly, I needed the extra time to sort out my thoughts to begin with.

Good afternoon traders, that thing we all knew was happening…happened! The Federal Reserve rode in to the rescue of the American economy, whether the economy needed rescuing or not! Gold prices following the policy announcement and Chairman Powell’s press conference at sharply lower for the day, pricing current around $1412/oz in spot markets. While this is a disappointment in relation to the yellow metal’s higher prices this morning, it is broadly in line with our recent assertions that at quarter-point rate cut was already priced into the gold market at $1410.