Dow Jones crashed supported gold prices

Gold Last night Dow Jones Index crashed below 23000 and tested 23680 before closing near 23000. DJIA has lost more than 3000 points from its peak and continuing its downward journey. We have 6 trading days left this year and we assume DJIA closing near 23000. Then It would go down as a bad year despite testing 26000. Weaker... more →
Posted in: Gold Silver Updates

FOMC crashed Gold

Gold FOMC concluded its meeting and decided to raise interest rate by 0.25% as expected. But market was expecting dovish market outlook from Fed which did not happen. FOMC chairman Powell released statement after 1 hour of interest rate announcement. He said Fed will look to increase rate two times in 2019 instead three. This... more →
Posted in: Gold Silver Updates

Gold gained as Dow Jones cracked

Gold Gold price gained and broke 1242$ last night as Dow Jones crashed pretty hard once again and tested 24300 range. It was down nearly 1800 points from this week high once time. Later Dow Jones recovered and currently trading at 24850. Comex precious metals pack is waiting for Non farm payroll numbers which will release... more →
Posted in: Gold Silver Updates

US China reached common ground

Gold US and China finally reached a common ground and almost solved their trade dispute. Both countries agreed on a trade war cease fire and encouraged to talk to solve their trade dispute. US agreed to pause their move to impose more tariff from 01st January.¬† US wont be increasing current tariff from 10% to 25% on Chinese goods.... more →
Posted in: Gold Silver Updates

Fed minutes cleared path for another rate hike

Gold Last night FOMC released its last meeting minutes which cleared path for another rate hike. Its certain now we will have one more rate hike this year in next FOMC meet. Interesting point was Fed is still very confident on US economy and did not show¬† any sign of slowing down. We may see further rate hikes next year which means... more →
Posted in: Gold Silver Updates

Brexit drive dollar higher

Gold Brexit may affect trade between US and UK, This single statement by president Trump crashed sterling and gave a higher push to dollar index. Higher dollar pushed gold down and it tested from 1225$ to 1211$. Higher Dow Jones Index also contributed in selling as it recovered from 24400 to test 24800. Currently gold prices are... more →
Posted in: Gold Silver Updates

Hawkish Fed crashed Gold

Gold Comex Gold price crashed after Fed cleared they are on their course. Fed stated they may increase one more hike in interest rate this year. Which would make total 3 rate hikes alone this year. Fed seems very confident about US economy. Fed doesn’t seem bother about trade war or economic slowdown. Hawkish fed boosted dollar... more →
Posted in: Gold Silver Updates

Fed tilted gold into negative

Gold Fed concluded its meeting yesterday, FOMC decided to keep interest rate unchanged but they released statement saying ” Their projection of interest rate remain unchanged”. This came as a little surprise as market was anticipating Fed might take a softer stand after ugly trade war and current geopolitical tensions. There... more →
Posted in: Gold Silver Updates

Election results putting pressure in metals

Gold US mid term elections turned out to be a grid lock situation. Democratic party finally gained control house of representatives which surely would put Trump administration in a bad situation. Republican party kept Senate house which give a breather to Trump and his party. US equity market took this nearly negative outcome as... more →
Posted in: Gold Silver Updates

US Election result will influence market

Gold I could not update gold forecast for a week due to my vacation. First of all thanks to all my readers who sent me email and messages asking me if i am ok. I really appreciate it. Gold price is currently trading at 1228$, We made low below 1224$ last night and our subscribers booked profit in our sell signal which initiated at... more →
Posted in: Gold Silver Updates
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