GoldPrice

Happy Friday, traders. It’s Christmas time! But first, what kind of week has it been? Gold prices have been where all the non-garment-rending action has been this week, especially post-Fed. 

Yesterday afternoon the Federal Reserve raised the cost of borrowing by 0.25% for the fourth and final time in 2018. With the target range moved up to 2.5%, rates are now at the bottom end of what the FOMC considers as the “neutral range” of 2.5-3.5%, meaning the era of technically accommodative Fed policy has ended.

Happy Monday, traders. And welcome back for the last full trading week of 2018. Gold has popped back through $1240/oz this morning, likely taking some fear-based momentum from the tumult in equities at the end of last week.

Happy Friday, traders. What kind of week has it been? Packed with macro and geo-political happenings, to be sure; but also, somehow far calmer than I would have anticipated. On this Friday morning it seems that US Dollar and gold markets feel similarly, as we’re seeing spot price for the yellow metal fall farther below $1240/oz on the back of a pre-market rebound in dollar-strength.

As we get into the week ahead, gold is trading in a strong position above $1245/oz, having run into some resistance overseas at $1250. The mess in the UK and this morning’s sharp selling in equities will likely continue to pressure investors into risk-off assets like precious metals and I suspect we’ll be revisiting $1250 before the week is out.

Happy Friday, traders. What kind of week has it been? A week of highs for gold price, certainly. (And palladium!)  A week of lows elsewhere, certainly. A week of uncertainty…certainly.