The day's price movements

pmbug said:
I think the Fed holds out on the pivot longer than most folk think.
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They have to. If they allow the markets to correctly predict a pivot, it will cause what they are trying to do, to fail.
 
... Swiss Bank UBS ...

The bank's precious metals expert Joni Teves, released her 2023 gold price outlook, saying that she sees the precious metal pushing to $1,900 an ounce by the end of next year.
...
The biggest factor Teves said she sees driving gold prices up by double digits next year is a shift in U.S. monetary policy.

Not only does UBS expect the Fed to end its aggressive tightening cycle in 2023, but it is looking for the central bank to cut rates by 175 basis points by the end of the year.
...
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www.kitco.com

Gold to hit $1,900 by end of 2023 - UBS

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

Similar to Goldman's 4th scenario (see here), but they have 100% expectation for recession.
 
FWIW:
A potential peak in the U.S. dollar because of shifting interest rate expectations is creating broad-based positive sentiment for gold in the marketplace, according to the latest Kitco News Weekly Gold Survey.
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This week, a total of 19 market professionals took part in Kitco News' Wall Street survey. Twelve analysts, or 63%, said they were bullish on gold next week. Two analysts, or 11%, said they were bearish. Five analysts, or 26%, said they were neutral on the precious metal.

On the retail side, 905 respondents took part in online polls. A total of 588 voters, or 65%, called for gold to rise. Another 199, or 22%, predicted gold would fall, while the remaining 118 voters, or 13%, called for a sideways market.
...
Main Street is not only significantly bullish on gold, with sentiment at its highest level since June, but interest in the precious metal appears to be rising, as participation in this week's survey rose to its highest level since late September.
...
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www.kitco.com

Gold prices have room to run as sentiment turns solidly bullish after best week in two years

Bulls or Bears? Wall Street vs. Main Street puts together leading analysts and regular metals investors to find out where they think gold is headed next week. Picked up and quoted by other leading news organizations, this feature has become a cornerstone for the industry and an indicative benchmark.
www.kitco.com

So when the Fed keeps the gas on (doesn't pivot like market expects), there will be headwinds.
 
pmbug said:
FWIW:

www.kitco.com

Gold prices have room to run as sentiment turns solidly bullish after best week in two years

Bulls or Bears? Wall Street vs. Main Street puts together leading analysts and regular metals investors to find out where they think gold is headed next week. Picked up and quoted by other leading news organizations, this feature has become a cornerstone for the industry and an indicative benchmark.
www.kitco.com

So when the Fed keeps the gas on (doesn't pivot like market expects), there will be headwinds.
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IMO, Best keep any eye on silver spot price especially now. On Nov. 3,2022 Silver spot was $19.47. The next day the price jumped over $1.00usd to $20.87 T.oz and has not looked back at $19.00 since.
Stayed about level for three days then popped up to $21.37 on Nov. 8th.
Dropped 32 cents on the 9th and popped UP again on the 10th at $21.64 and within pennies since.
The Monkeys Lost Their Hammer, but when they strike it is only pennies of reaction. Closed for the weekend at $21.72.
" The Bull Claims a Wall of Worry" ( stock market saying).
More people waking up to their "fiat crisis" and most people can afford silver more so than gold.
DYODD
YMMV
Best of Luck

www.moneymetals.com

Silver Spot Prices Per Ounce Today, Live Bullion Price Chart USD

Get live & historical silver spot prices with our interactive charts updated every minute. Find the best time to buy silver bullion bars, coins & rounds...
www.moneymetals.com www.moneymetals.com
 
I know I was asleep at the wheel and wasn't paying attention, but plat it appears is up pretty good. Last I looked I swear it was like sub $700 or so.
Looking at these charts they don't match my memories. The sub $700 spike was around May 2 years ago.

Did CERN do this? I know I am crazzzzzzyyyyy but I'm not stupid.

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ManMooDella Effect?

moooo
 
Ag in the Pre-Market was was down 7 cents. Now it's UP $21.99, may bust $22.00 before EOD.
 
...
As dismal as the price action is expected to be in the first half of the year, Bank of America expects a dramatic reversal of fortunes when the Federal Reserve stops raising interest rates. The bank sees gold prices averaging $2,000 an ounce in the third and fourth quarters of next year.

Looking to 2024, Bank of America sees gold prices remaining elevated with an average price of $2,086 an ounce.
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"Once the Federal Reserve stops raising interest rates, there should be a good market for gold," he said.
...
Along with gold, Bank of America is also bullish on silver, with prices expected to push to $25 an ounce by the third quarter and remain elevated through 2024.
...
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www.kitco.com

Gold has a path to $2,000 and silver to $25 in the second half of 2023 - Bank of America

Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
www.kitco.com
 
The monkeys have not been able to hammer Ag back into $19.00 or $20.00 spot for over a month now.
Now silver is liking the high $21 -22+ range.
Good chance we get to $25.00 Ag EARLY in 2023. IMO
YMMV
 
I always enjoy seeing a new all time high especially in UKĀ£
the current Bullionvault display shows Gold at Ā£1561 / oz

Gold Price Chart, Live Spot Gold Rates, Gold Price Per Ounce/Gram | BullionVault

Live Gold Price Charts for International Markets. View Spot Gold, Silver, Platinum and Palladium Prices for USD Dollar, GBP Pounds, and EUR Euro.
www.bullionvault.co.uk
and while the chart tends to chop out short term spikes when looked at over longer time frames, the previous ath was Ā£1560 on March 7th last year.
This was a fairly large short term spike that ran up Ā£200 in just over a month then dropped Ā£100 over the next two weeks.
I guess this was all Russias fault and it may be that this run up holds up for longer. Lets see.
 
There seems to be some market optimism that inflation is being tamed and there is light at the end of the Fed's rate increase tunnel. Gold and silver should continue to rise as long as that environment holds.
 
Gold is likely to be facing headwinds for a bull run if Russia is selling and India is keeping their import duty high to dampen imports.
 

Gold and Silver Mark 2023 Lows | CoinNews

Precious metals declined on Friday, adding to their losses for the week. Gold and silver extended their streak of weekly drops to four and six, respectively, while also ending at their lowest prices of the year. On Friday, gold for April delivery shed $9.70, or 0.5%, to settle at $1,817.10 an...
www.coinnews.net www.coinnews.net
 
Gold futures touched a two-month low on Tuesday as hotter-than-expected inflation data out of Europe pushed global bond yields higher, which helped to weigh on prices of precious metals.
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Gold slumped as sovereign bond yields around the world climbed Tuesday with surprisingly hot inflation data out of France and Spain helping to cement expectations for a 50 basis point rate hike by the ECB at its March meeting. The data helped weigh on gold on the final trading day of what has been a dismal month for the yellow metal.
...
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www.marketwatch.com

Gold touches 2-month low on last trading day of dismal February

Gold prices touch a 2-month low on Tuesday as hotter-than-expected inflation data out of Europe pushes global bond yields higher.
www.marketwatch.com www.marketwatch.com
 

Gold and Silver Snap Multi-Week Losing Streaks | CoinNews

Precious metals ended Friday with gains, padding their increases on the week. Weekly advances for gold and silver were their first in many weeks -- five for gold and seven for silver. On Friday, gold for April delivery rose $14.10, or 0.8%, to settle at $1,854.60 an ounce on the Comex division...
www.coinnews.net www.coinnews.net
 

Gold, Silver and Palladium Mark More Lows | CoinNews

In trading action Wednesday, platinum climbed as other precious metals posted another day of settlement lows which ranged from nearly two weeks for gold to more than three-and-a-half years for palladium. Gold for April delivery shed $1.40, or 0.08%, to settle at $1,818.60 an ounce on the Comex...
www.coinnews.net www.coinnews.net
 
The last UKĀ£ ATH in gold was Jan 13th
Ive had to wait two bloody months to see it bettered
Last time was Ā£1561
Today we briefly hit Ā£1598 on the Bullionvault chart .....
Two whole months !
Am I seing a pattern of ATH's getting ever closer time wise ? :ROFLMAO:
 
Doh Ā£ 1627 ..... another UK Ā£ a.t.h.
On this basis we could be getting new a.t.h.'s every few minutes by the end of the financial year šŸ™ƒ

Although theres usually squeeze on the metals for quarter ends ..........
 

Gold Ends Week at 11-Month High; Silver Prices Soar

Gold and silver rallied Friday, padding exceptional weekly gains and lifting their settlements to the highest in 11 months and 1.5 months, respectively. On Friday, gold for April delivery tacked on $50.50, or 2.6%, to close at $1,973.50 an ounce on the Comex division of the New York Mercantile...
www.coinnews.net www.coinnews.net
 
I have been watching for news on Russia's gold market activity since the report above from early February. Last month, the only reports I found reported Russia's holdings YOY and not their activity over the month of Feb.

...
In March, the Russian central bank sold 3.1 tonnes of gold ...
...
"I'm glad to see that the history of Russia's #gold holdings has now been backfilled," said WGC's chief market strategist John Reade. "It does beg the question of where the rest of Russia's production has gone - at about 300t per annum this is far more than domestic demand or CBR's reported purchases."
...
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www.kitco.com

Russia's central bank sells 3.1 tonnes of gold in March, publishes last year's missing gold reserves data

www.kitco.com

Looks to me like Russia is trying hard to not disclose just how much gold they are having to sell to finance their war.
 
The fact that they can would seem to allow some options ...
300t p.a. production is no small amount.
 
The gold market could continue to consolidate around $2,000 an ounce as the Federal Reserve prepares to raise interest rates one last time and then hold the line until inflation is under control, according to one analyst.

However, even this new holding pattern doesn't diminish gold's potential. In a recent interview with Kitco News, Tim Hayes, chief global investment strategist at Ned Davis Research, said the trend in gold is clearly higher. He noted that in his Gold Watch report, nine of the 16 indicators he watches are flashing bullish signals.
...
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www.kitco.com

Gold consolidates but remains on a 'golden cross path' higher - NDR's Tim Hayes

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

Rocket fuel percolating?
 
... The next rally will begin as soon as next week or next month when the Fed finally admits that they've killed the U.S. economy with their reckless policies. In January, we predicted $2300 gold and $38 silver before year end. The year is unfolding right on schedule, and nothing thus far has led me to think that we're off track.
...
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www.sprottmoney.com

COMEX Gold Options Update

www.sprottmoney.com www.sprottmoney.com

Hemke says watching options expiration informs where the banks will manipulate prices.
 
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