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Gold Feb '23 (GCG23)

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Gold Futures Market News and Commentary

Weak Stocks and Crude Oil Strength Lift the Dollar

The dollar index (DXY00) on Tuesday rose by +0.34%.  The dollar moved higher on Tuesday amid renewed concerns that the US-Iran ceasefire may break down after President Trump said the current ceasefire was on “life support.” Tuesday’s +4% surge in crude oil prices also boosted inflation expectations and may prompt the Fed to tighten monetary policy, a supportive factor for the dollar.  In addition, stock weakness on Tuesday spurred some liquidity demand for the dollar.  The dollar added to its gains on Tuesday’s stronger-than-expected US Apr CPI report, a hawkish factor for Fed policy.

US Apr CPI rose +3.8% y/y, stronger than expectations of +3.7% y/y and the fastest pace of increase in almost three years. Apr core CPI rose +2.8% y/y, stronger than expectations of +2.7% y/y and the largest increase in six months.

Tuesday’s comments from Chicago Fed President Austan Goolsbee were hawkish and supportive of the dollar, as he said the worst part of the April CPI report is ser... Read more

Holding money bunched in fist by Iana Miroshnichenko via iStock
Weak Stocks and Crude Oil Strength Lift the Dollar

The dollar index (DXY00 ) on Tuesday rose by +0.34%. The dollar moved higher on Tuesday amid renewed concerns that the US-Iran ceasefire may break down...

Silver bars stacked by Walter Freudling via Pixabay
This Stock’s Next Move Could Be a ‘Silver’ Lining For Commodity Bulls

First Majestic Silver (AG) shares show a renewed medium-term rising trend, reflecting increased buying interest among investors. The stock recently broke...

Image by Karolina Kaboompics via Pexels
Dollar Rallies on Crude Oil Strength as Hot US CPI Report

The dollar index (DXY00 ) today is up by +0.45%. The dollar is climbing today on renewed concerns that the US-Iran ceasefire may break down after President...

Silver bullion by SonerCdem via iStock
Gold Cracks $4,700, Silver Gives Back $2 | What Now? CPI & WASDE Ahead | Metals Minute Phil Streible

Dive into today's early market action with the Blue Line Futures Metals Minute! (Episode 657)

Pile of money by Atlantagreg via iStock
Dollar Edges Higher on Crude Oil Strength

The dollar index (DXY00 ) on Monday rose by +0.05%. The dollar was supported on Monday by increased safe-haven demand after the US and Iran failed to...

A one dollar bill floating in water by Wirestock via iStock
Dollar Erases Early Gains as Stocks Rally

The dollar index (DXY00 ) today is down by -0.03%. The dollar gave up an early advance today and turned lower after US Apr existing home sales rose less...

Cotton Retreats on Tuesday

Cotton futures closed the Tuesday session with front months down 105 to 145 points. The US dollar index was $0.366 higher at $98.190. Crude oil was up...

Hogs Faces Tuesday Weakness

Lean hog futures posted losses of 75 cents to $1.80 across most contracts on Tuesday, with May up a nickel. USDA’s national base hog price was reported...

Corn Posts Gains on Tuesday

Corn futures held on Tuesday, with contracts up 4 to 5 cents at the close. A limit rally in the wheat market was supportive. The CmdtyView national average...

Soybeans Closes with Tuesday Gains USDA Tightens Stocks

Soybeans were in rally mode on Tuesday, with contracts up 10 1/4 to 13 3/4 cents at the close. The cmdtyView national average Cash Bean price was up 14...

Wheat Rallies the Limit on Tuesday as USDA Releases Production Updates

The wheat complex was in rally mode on Tuesday, hitting the limit in a few contracts. Chicago SRW was up as little as 13 ½ cents in the deferreds to the...

SNDK Stock Alert: SanDisk Falls Amid Broader Chip Pullback

SanDisk stock sank today amid a broader selloff in memory and semiconductor names. But should you buy the dip in SNDK shares today?

Ahead of Cisco Earnings, Here Is What Barchart Options Data Shows for CSCO Stock

Options traders believe Cisco stock will extend gains after Q3 earnings on May 13. Freedom Capital’s Jay Woods also remains bullish on CSCO shares heading...

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